TTC ICO: tataUFO Incentivized Social Content Mining Network?
TTC, found online at TTC.eco, rewards social network users in exchange for their interactions. Find out how it works today in our review.
What Is TTC?
TTC is a digital currency that aims to offer “social content mining”. With TTC, users are rewarded for generating, distributing, and interacting with other users and their social content. TTC decentralizes and returns the commercial value to those same users that cultivate and grow the value of social networks.
In other words, those who contribute to social networks – by interacting with other users or posting content – will receive a reward in the form of TTC tokens.
It’s similar to the concept behind Steemit, in that both Steemit and TTC reward users for their contributions. However, TTC is designed to reward “normal” social interactions on a social network – like uploading personal content or viewing advertisements.
TTC is in development by the same Beijing, China-based team that launched tataUFO, the popular social network for Chinese university students. That network, launched in 2012, currently has 10 million registered users. It will be the first social network to implement TTC tokens.
Benefits Of TTC
Why do we need a system like TTC? Here are some of the proposed benefits of the platform:
Users will participate proactively as their contribution is clearly and fairly recognized and incentivized. Users have a reason to “put themselves out there” and positively contribute to the platform.
When the content is aligned with the core value of the platform, it leads to high rewards. This creates a healthy atmosphere for the creation of content.
TTC has an effective and fair incentive mechanism that promotes the product’s brand and increases the value of the network, thereby accelerating the growth engine significantly.
How Do TTC Tokens Work?
What can you spend TTC tokens on? How do tokens work? Here are some of the core functions:
- Purchase advertisements
- Purchase emoticons/emojis
- Purchase chatbots
- Send gifts to other users
- Purchase coupons
- Send money to other users
- Start polls
- Spread content across the internet
How Does TTC Work?
TTC functions as an open platform. Developers can build decentralized apps – Dapps – on that platform. tataUFO is the first decentralized app on the TTC open platform. The app was launched in 2013 and has 10 million registered users. The userbase includes college students in first tier and second tier cities in China.
tataUFO can be described as like “Instagram on blockchain”, according to the official TTC.eco website. Content on the platform includes personal moments. Content is distributed across the network. The users are in charge of governance. And, there’s a reward system to encourage user participation in the platform.
Overall, TTC seems similar to Steemit: both decentralized networks encourage participation in a social network by rewarding users with digital tokens. TTC specifically compares itself to Steemit on the official website. The main differences between TTC and Steemit are that TTC is governed by most users (as opposed to a small number of “star users” on Steemit), and that TTC rewards users for contributing personal moments to the platform as opposed to just professional, high-quality content.
How To Earn TTC Rewards
TTC tokens will be rewarded for social interactions on social networks like tataUFO. There will be three broad categories of rewards, including all of the following:
These are for users who create high-quality content, and for users who interact with content by liking, commenting, sharing, or reporting it.
These rewards are for users who contribute to the long-term viability of the platform by consistently creating high-quality content and getting recognized by others. It’s designed to reward a user’s positive reputation, thereby encouraging a strong reputation for the overall social network.
Users who take part in promotional activities – like watching ads, completing surveys, or participating in themed campaigns – can earn TTC tokens.
Advertisers will contribute rewards to the platform. Then, a smart contract will give those tokens to users that participate in the specific advertising campaign or survey.
Meanwhile, the other rewards – content and reputation rewards – will be issued from a fixed pool of TTC tokens programmed into the smart contract of the TTC Protocol.
The TTC whitepaper does a great job of explaining all of these rewards in detail, including the specific formulas used to calculate the rewards for content, reputation, and advertising.
Details About The TTC ICO
A total of 250 million tokens (25% of the total supply) will be sold during the token sale. The remaining tokens are allocated to a rewards pool (250 million TTC), the foundation (200 million TTC), the ecosystem (200 million TTC), the team and advisors (80 million TTC), and old users and bounties (20 million TTC).
The pre-ICO began on March 12, 2018. The main ICO is scheduled to begin on March 26, 2018. The exchange rate is set at 1 ETH = 5000 TTC during the pre-ICO, rising to 1 ETH = 4000 TTC during the main ICO.
Who’s Behind TTC?
TTC is being developed by tataUFO, a Beijing, China-based social network founded in February 2018. The team consists of a group of developers, including President and Founder Brian Cheng (also known as Brian Hyeon-woo Cheong). Brian serves as founder and CEO of tataUFO. He previously worked as an analyst at Softbank Ventures Korea.
tataUFO describes itself as a “social discovery platform”. The social network caters to university students in China. The platform started from a small class in Peking University in 2012, then later received investments from prestigious investors like Ameba Capital, Lightspeed China Partners, SoftBank Ventures, Korea Investment Partners, and Union Investment Partners.
The TTC project is officially organized under the name TTC Foundation Pte. Ltd.
TTC ICO Conclusion
TTC is a digital currency that will incentivize participation in a social network. The project is being led by the team behind tataUFO, a China-based social network catering to young university students.
The TTC ICO is underway throughout March 2018. TTC will be awarded to users who positively contribute to the tataUFO social network – like by posting content or uploading comments. It’s similar to the concept behind Steemit, except TTC will be awarded for genuine social interactions as opposed to just professional articles and videos.
To learn more about TTC and how it works, visit online today at TTC.eco.