The TRANQ token is the protocol token of the Tranquil Finance. By staking TRANQ, it entitles the holder to 75% of the fees generated by the protocol.
We decided on this model after reviewing other projects in the space and wanted to give holders of the token a lot more utility and value than simply voting on mostly inconsequential proposals.
Due to this design, we will control the supply of TRANQ very carefully, so it will be difficult for you to buy it directly right now. Instead, you can purchase xTRANQ, a locked version of the token during our public sale.
xTRANQ Public Sale
The initial public sale of Tranquil Finance will be for a maximum of 50,000,000 xTRANQ, a token which is redeemable 1-for-1 for TRANQ after a 6 month lock-up. xTRANQ can also be staked to earn TRANQ over time. There will be 25,000,000 TRANQ tokens allocated for staking rewards, which will be linearly emitted over a 12 months period.
The intent of xTRANQ is to smoothly distribute the supply of TRANQ over time, preventing a huge amount of the token from being introduced to the market at once. xTRANQ staking rewards will gradually provide stakers with a steady supply of TRANQ in addition to their redeemable TRANQ after lockup. We believe this design promotes healthier market dynamics.
Visit https://ico.tranquil.finance/ to purchase and stake xTRANQ.
Seed and team allocations vest linearly over 12 months. For more information visit our tokenomics docs.
When you invest in any DeFi project at an early stage, you’re really investing in the long term vision and execution of the team. Although we will be ready to launch mainnet very soon, we would like to also clarify our long-term vision for the project.
Our vision for Tranquil Finance is to be the premier platform on Harmony for lending and borrowing. Even if larger multi-chain protocols come to Harmony, we will still have a unique edge by tailoring to the specific needs of the Harmony ecosystem.
In addition to the standard safe assets like BTC or USDT, we will work with the community to list long-tail tokens that are unique to Harmony, increasing the utility and value of all tokens in the ecosystem.
In the medium term after launch, we want to build a staking derivative token (stONE). It would allow stakers to receive ONE staking rewards while also using it as collateral on Tranquil, unlocking tremendous untapped value for the entire ecosystem. Holders of stONE can use it in other DeFi protocols or exchange it back to ONE without the lengthy undelegation time.
In the very long run, we have a vision of allowing users to do much more with their collateral on the protocol. We want to empower undercollateralized use cases, like leveraged trading, options, and perpetual swaps. All features on the platform would share a unified collateral model and borrow from the same asset markets.
Basically we envision our end goal as a decentralized FTX, which we believe is possible thanks to the speed and low cost of the Harmony blockchain.