START token use cases
The START token is the utility token of the T-Starter platform (visit t-Starter here). Below we discuss a number of the use cases for the token.
Early access to public pools
T-Starter currently allows early access to pool sales by locking up START tokens. Tokens are returned to the user after the lockup expires. Currently 500 START must be locked for 30 days to gain early access to each pool. The number of START needed for early access is a T-Starter governance parameter which may be changed in the future through a governance vote. When compared with other launchpad platforms, we believe the 500 START currently needed for early access should be increased by at least 10x (to 5000 START).
Staking to earn a share of platform fees
T-Starter staking is scheduled for release in Q2 of 2021. Once commissioned, 75% of platform fees will be allocated to the START staking pool (3.75% of total sale value). Staking pool rewards are allocated in pool tokens (TLOS, PBTC, PETH, …) according to the share of the staking pool when the sale closes.
START tokens will be locked for 7 days after being unstaked. This will prevent accounts staking to receive staking rewards and then immediately unstaked.
Anti-spam mitigation of platform social features
T-Starter sentiment and comments on pools during the sale process will be launched in Q2 of 2021. The START token is used to discourage abuse of the platform social features. Users will have to lock up 1 START for each social action taken.
Project listing fee
T-Starter is exploring the possibility of allowing projects to list through a community voting system. Project listing through this process will be required to pay a listing fee in START to enter the listing process. The primary purpose for this fee is to prevent platform abuse.
Allowing self listing presents a number of security challenges. Self listing will only be added if these challenges can be solved.
Voting on community listed projects
All voting on T-Starter will be based on the staked balance of an account. As soon as an account unstakes tokens that vote weight is lost. We believe the combination of vote weight based on staked balance together with the 7 day unstaking period will result in a voting system which is free of abuse and manipulation.
Voting in T-Starter governance
Platform governance voting will be weighted according to staked balance. The primary function of the platform governance will be to set various platform configuration parameters. The behaviour of the T-Starter platform is set by the following parameters (set here);
- Platform fees (5%) — this fee is paid by successful pools.
- Allocation to staking pool (75%) — this will be used to provide staking rewards.
- Premium access fee (500 START) — As discussed above, this fee is likely to be increased in the near future.
- Premium access lockup (30 days) — This is a configurable parameter but is not expected to be changed
- Unstaking lockup (7 days) —This is a configurable parameter but is not expected to be changed
- Social anti-spam fee (1 START)
- Project listing fee
In addition to deciding on the configuration of the above platform parameters, significant stakeholders will be able to participate the platform roadmap.
Cross chain functionality
Our vision for T-Starter is to build a cross chain launchpad platform. This will be accomplished by bridging START tokens across to other blockchains. Our first token bridge is in the final stages of testing. Once we complete this testing we will cover the bridge in a separate announcement once opened.
For more on T-Starter
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