For me (and I say for myself because, if you ask 10 people about it, they will give you 10 different answers) tokenomics are the set of business rules, together with the design and distribution of...
Tokenizing Education: the final token TUT launch
We are already there. This is the decisive week in which the 4-year work culminates. The team is ready to release the first educational token in history that will (re) evolve Education as we know it. Read on to find out more about the launch of the TUT token.
In 7 days the 4 years of work will reach a final end: the day the TUT will be launched. The end of a task but the start of constant hard work. In this post, I will summarize the adventures that we have gone through to date, let's go!
1st Attempt (2017): Ethereum - NEM
In September 2017 we dived into the Ethereum ecosystem to develop the token TUT. However, the network and industry were not prepared to accept the proposal of the educational token TUT due to its low scalability and social ignorance. It was difficult but we had to step aside, never back. By that time we were presenting the TUT token in Ethereum, with a very pioneering tokenomic model for that period of time (the world's first tokenized EdTech project) and with clear ideas to develop;
Despite being the first tokenized EdTech project in the world, the Ethereum blockchain was way different from what it is nowadays. There was hardly any ecosystem, nor were there sidechains or layer 2 solutions or any similar projects we could be inspired by. Due to its ability to program apps and smarts contracts on top, we decided to use Ethereum. However, it was not at the best time. With Cryptokitties on the rise and an exacerbated gas, the TUT protocol could not grow in its normal conditions. Till... it was time for NEM.
NEM allowed us the evolution we were seeking for. So we migrated our educational token TUT to the NEM network, a network without scalability problems. The welcome was warm from the entire NEM team, making us one of the most solid projects supported by the Foundation itself.
The merger was so powerful that we even implemented the official NEM certification in Tutellus courses. Here you can find out more about all that.
2nd Attempt (2018-2019): Crypto Winter & Symbol
So far so good; I even looked happy in the photo not knowing there was still more to discover since everything good never comes out the first time ... neither the second.
It was time to launch an ICO and raise the maximum amount of funds possible. I dedicated an entire year to creating a community wherever I travelled. I was going from city to city trying to expand the project and explaining how this educational token called TUT was going to revolutionize everything. The winter of 2018, also known as Crypto Winter in crypto, was a huge cooldown of all cryptocurrencies on the market. We all know how this market is. There were drops of up to 98%. We concentrated almost all the investment of the ICO in the token XEM that fell from $ 2 to ... $ 0.05. BOOM!
In other words, out of every million that we had raised from the ICO, it had converted to $ 200,000. That was, without a doubt, a big financial hit. It was a year of many emotions and new experiences, however, after that there was still more pieces of pie to share. The same year, NEM decided to evolve to another new blockchain that they had just programmed. This new blockchain called Symbol started from its genesis block. What did that mean? Well, it was not compatible with the previous NEM blockchain and therefore we could not replicate everything developed so far in that new network. The decision was drastic and we paused machines.
3rd Attempt (2020-2019): Liquid - Polygon
We let the year pass and we began thinking about how could we learn from it and avoid the same mistakes. One thing was clear, the day to launch the educational token TUT would end up coming. And that great day is here. We are in the final week.
Then, we related concepts that the Tutellus team had continued working on independently from the launch of the TUT. Tutellus (our dear Sokar) was one of those responsible for tokenizing the first NFTs on the Bitcoin sidechain called Liquid. The famous Lightnite.io skins. The result was so good that we spent more time and effort tokenizing on other networks. It was the glory time of the BSC for its desired and insignificant gas. From there, wonderful projects from Tutellians such as Reental, Fittoken, Criptokuantica, Poesia.io ... etc. have come out.
So .... EUREKA! We saw a light that we didn't even imagine in 2018. What if instead of developing the TUT in an on-chain network we develope it under a multi-chain philosophy? We were seeing in front of our eyes how the entire crypto ecosystem was prefering multichains, those networks that make everything easier by being compatible. It was then and togetherly with the hype of the environment, the moment we saw in Polygon (the most trending Ethereum sidechain) the solution. We took the decision and fully bet on the birth of the token TUT in the Polygon blockchain. The network that would have the token finally operative.
Polygon was Ethereum's sidechain and it was amazing because it had the best of Ethereum without the worst. Optimization in its purest form! We were willing to develop the educational token TUT in a network compatible with the # 1 blockchain of dApps and without the excessive gas fee seen on layer 1. We are firm believers that the future is multichain. However, we also believe that the token TUT will end up being deployed in other networks. With the proper mint-burning mechanisms for the peg and an oracle that properly manages the total supply, it is only a matter of time.
As the Chinese philosopher Lao-tzu said "A journey of a thousand miles begins with the first step" and after that first step taken in 2018, on October 14, 2021 at 19h UTC + 2, the TUT token will be a reality in the polygon network
If you think this ends here, you are very wrong. The great journey to make TUT a reality ends here, however now comes the best of the best. In future posts I will talk about everything you can do with the TUT. I will tell you about the services of the token, its tokenomics and characteristics and how can you get the max. effectiveness from it. I have already advanced you here and now how you can get the min profitability, selling it
In the meantime, you can join Discord and follow the latest news there.
Have a look at the whitepaper here.