Torum has hit 100.000 unique users yesterday! This is a huge milestone for the all-in-one platform in it's developing phase. I'm about two month into this platform and will introduce it to you now.
First of all Torum is, obviously, a social network for crypto enthusiasts all over the world. The system has it's own ERC-20/HECO/BEP-20 token called XTM. This token is the utility token of the TORUM ecosystem and will go public in the near future. Right now, you can earn XTM by completing daily, weekly or lifetime missions like accumulating followers, daily login or inviting new users.
Structure of Torum
The Homepage looks like this, you can see the timeline of followed users or the timeline of the Discover-tab.
Unlike the frontpage, which looks similar to other social media platforms, Torum has groups called "Companies" and "Clans". The Company tab is mainly for, who would have known, companies.. to follow them. To open a Clan you have to pay 55XTM. Everyone can join clans if they are open, otherwise you have to be invited or accepted. In the picture you can see the "Torum Official Community"-Clan. I'm not a member of this Clan but because the Discover-tab is currently open this is shown on my timeline.
The Wallet-tab is for the built in, right now not on the Blockchain, XTM wallet. You can see your mission rewards and earned XTM by invites to Torum. Also people can tip your post or threads with gifts representing an amount of XTM.
The Airdrop-tab is very new and was launched about 1 month ago. You have to take a little quiz and can try your luck. At the moment only about 1500 users participate in unique airdrops, so your chances are high to get some token! Currently they are sponsored by the HECO team.
The Roadmap
As you can see the next big steps of Torum are rolling out the NFT Launchpad, the NFT Marketplace, the Torum Lounge (Clubhouse-like), Torumgram and Torum Finance.
NFT Launchpad
Torum NFT Launchpad is the launchpad feature built on Torum Finance, the DeFi platform of the Torum ecosystem. The launchpad brings an innovative crowdfunding model, where projects can choose to back the NFT series with their own native tokens and also XTM, the native token of Torum. The NFT-backing model enables Torum and the issuing projects to form a closer collaboration, and also connects the interest of the communities from both sides to the NFT launch event. The NFT launchpad also contributes to the token utility of XTM, where a fixed amount of XTM has to be purchased from the market and burned before it is available for projects to use.
-Torum Whitepaper*
NFT Marketplace
Torum NFT marketplace, powered by XTM, is integrated into Torum social media to accommodate the rising NFT-centric needs of the crypto communities. In addition to the common NFT features, Torum NFT Marketplace is unique for the following benefits:
- The NFT showroom for crypto artists
- The Torum social profile can be used as a personal NFT showroom to display the premium NFT collections of the community.
- Social-NFT Crypto Ecosystem
- Connecting a decentralized wallet to the NFT marketplace unlocks a series of social elements, including the option to share NFTs to Torum social media for increased promotion and exposure effect.
- Programmable NFTs
- Each Torum account will be provided with a customizable social NFT that acts as an avatar-like biography on Torum. The NFT can be customized with a wide range of cosmetics (from other projects) and account activeness of Torum, e.g., number of followers, Shard counts, rate of mission completion (social incentive mechanism of Torum), etc. In short, each programmable NFT represents the crypto identity of everyone in the Torum ecosystem.
- Torum Whitepaper*
Torum Lounge
Torum Lounge is an audio board room that is designed for crypto projects and community owners. The exclusive feature offers an interactive live-streaming experience that includes tipping, emojis, etc, to the Torum community. Torum Lounge is able to offer the following benefits:
- The Clubhouse of the crypto industry
- Torum Lounge is suitable to host real-time AMA, fireside chats, podcasts, discussion panels, meetups, conferences, and any other audio events.
- Speech-to-text automatic translation
- Every word spoken during the session of Torum Lounge is automatically translated into text form, offering the community to choose how they wish to partake in the events according to their personal preferences (text or audio, or both).
- Torum Whitepaper*
Torumgram
Torumgram is a bridging feature that connects Telegram onto Torum, essentially allowing the community to use Telegram directly on Torum. The smart integration is designed to reduce the user friction process of the platform and build Torum as a major community building channel for the cryptocurrency projects and users.
- For projects, they can
- Streamline any official announcements on Telegram to Torum
- Focus on acquiring new users from Torum while maintaining the Telegram group and
chats
- For users, they can
- Follow the Telegram groups and channels of their favorite projects
- Customize notifications using keywords to avoid missing out from certain topics in a
Telegram group, such as AMA, product launch, listing, etc
- Filter out any contacts with strangers or irrelevant parties on Telegram
- Torum Whitepaper*
Torum Finance
Torum Finance is the DeFi staking platform of the Torum ecosystem, empowering the Torum community with a one-stop access to DeFi services. The v1.0 platform features the Torum NFT launchpad and introduces:
- Social Farming
- The activeness of a Torum account can be used to upgrade the liquidity providing (LP) stake of the account holder for a greater LP profitability.
- NFT Farming
- A staking gamification which allows users to stake an NFT sold from the ISNO event of Torum for a LP stake upgrade effect, ranging from 5% to 25%.
- Time-based Farming
- A user who staked the LP tokens for a longer duration will automatically receive a certain amount of LP upgrade buff. The longer the staking duration, the bigger the LP upgrade buff.
- Cross-chain Swapping
- Users will be given the flexibility to swap XTM tokens in 3 different blockchains - Ethereum, HECO chain and BINANCE Smart Chain.
- Torum Whitepaper*
*Because most of the features not being live right now I cant give you a opinion on this and just summarized the Whitepaper here.
Tokenomics
XTM has a total token supply of 800,000,000 with the token standard of ERC-20, HECO and BEP-20. The allocation is listed below:
Seed Round: 32,825,000 - 4.103%
Private Round: 67,786,667 - 8.473%
Pre-Sale: 10,000,000 - 1.250%
Public Round - ISNO: 1,750,000 - 0.219%
Public Round - IDO: 5,000,000 - 0.625%
Liquidity Provider Incentive: 80,000,000 - 10.00%
Ecosystem: 180,000,000 - 22.50%
Team: 160,000,000 - 20.00%
Marketing: 100,000,000 - 12.50%
Strat, Dev & Advisors: 80,000,000 - 10.00%
Reserve: 82,638,333 - 10.33%
Conclusion
In my eyes Torum has a bright future as social media platform and beyond. The concept of bringing everything related together in one place is very good for newcomers of the crypto-space. You don't need to search for DeFi services or NFT places - it's all combined on Torum. The native Token XTM will have a great future as well, when the ecosystem rises. Right now Torum is growing rapidly with a grow of over 50.000 users in a few month.
I hope we see us there!
if you have any questions, feel free to ask me, regards ntz
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