The TUT token is loaded with functionality, and as we move forward in the implementation we will see how the TUT can be used in more and more places and to access more services. In this post we will review the current uses of the token since we launched it on October 14.
1. The TUT as a means of providing liquidity to the protocol.
The first utility of the TUT came through DeFi services, available from the very launch of the token in Tutellus.io;
- Through the STAKING service we deposit TUTs in a contract, obtaining a return for it (now 32% per year) and taking them somewhat out of the market at the liquidity level, thus contributing to decrease the actual liquid supply of tokens for sale.
- Through the FARMING service we deposit liquidity tokens in a contract (LP tokens), thus obtaining more profitability (now 170% per annum). The LP token is built with TUT and WBTC, so we have to provide the same value in one currency as in the other. In this post I explain in detail how to farm TUT.
2. The TUT as a mechanism to burn tokens.
Attached to the staking contract is an important feature: there is an "unstaking fee" that varies from 10% at the beginning to 0.1% after 30 days. This fee encourages the holder not to withdraw his TUTs from the contract, subject to a penalty. The commissions generated entirely from these unstaking fees are TUTs that are directly burned, thus reducing the liquid offer and encouraging a rise in the price. For example, in the first 10 days we have generated fees of 11,567.27 TUTs, not bad (about $10,000);
3. The TUT as the only way to enroll in a Bootcamp.
Until now Tokenization and DeFi Bootcamps could be achieved by paying in crypto or fiat currency. Since last Monday there is no option: if you want to do a Bootcamp, you have to pay its price at the value of the TUT at every moment.
It may seem a very drastic measure but... if you are really interested in learning about crypto and tokenization, what better way to start than interacting with our token, and don't worry about the process, we will help you all the way.
For corporate hires, as we know the difficulty -or impossibility- of doing it, there is no need to worry either: we receive the amount in euros and we will use it entirely to buy TUT tokens from the pool. However, there will be a surcharge of €1,000 for the different procedures that we will apply to the price of the Bootcamp.
4. TUT as a means of financing companies.
... but this functionality is part of the Launchpad that we will be launching soon, so we will talk about it in another post.
We will continue to introduce concrete uses to the TUT token with a single objective: to incentivize its purchase and therefore encourage the token to capture and absorb value.
If you are interested in this world and want to join our ecosystem, you already know that we do 3 promotions per year for the Bootcamps of Tokenización and DeFi.