What is Trace Network (TRACE) | What is Trace Network token | What is TRACE token
In this article, we’ll discuss information about the Trace Network project and TRACE token
Trace Network is a unique business model that is packaged as an enterprise-grade, proof-of-stake, permissionless protocol for supply chain, data management, trade settlement and financing powered by DeFi and NFTs.
Why Trace Network
Industry 4.0 solutions did leave few areas uncovered. Its time for Industry 5.0
Counterfeit & Invisible Merchandise
Disconnected Data Silos
Expensive & Cumbersome Cashflow Financing Options
Benefits of Trace Network
Trace Network makes businesses Sustainable by enabling core components like Transparency, Trust and Efficiency to achieve complete digital transformation.
Real time merchandise traceability
Fast and efficient data transfer
Smart contract enabled process provenance
Efficient working capital financing options
Real time trade settlement
Unlocking dead liquidity enabling financial mileage
Advantages
Trace Network is build by people from industry active in emerging tech for over two decades hence understand the need, complexity and solution for preparing businesses for new era.
50+ man years of Experience
50+ Enterprise Technology company Relationships
Global Enterprise Reach
Learned pool of Advisers
Trace Tokenomics
Trace Network is an enterprise grade decentralized finance protocol harnessing the capabilities of composable smart contracts, permission-less financing options powered by DeFi and NFT based unique merchandise identification solutions to unlock the billions of dollars’ worth of business potential otherwise undermined due to poor merchandise inventory & ownership management, costlier trade financing & banking options, and perennial inefficiencies in par diem business transactions.
Trace Network would utilize unique capabilities of DLTs, DeFi & NFTs to empower participants of the Trace ecosystem to interact and share data which are required to enforce traceability, distribution channel stock visibility & above all, efficient working capital financing options for more efficient trade practices & business management.
Some of the core functions to help the protocol standout and spearhead the adoption torch are:
❏ NFT based on-chain merchandise Identity Management
❏ On-Chain integration & settlement of business transactions across business networks
❏ DeFi based on-chain liquidity & trade financing
TRACE; The Governance Token empowering the Trace Network ecosystem
To achieve the vision & mission as described above, we are proud to introduce $TRACE as the governance token. $TRACE is an ERC20 standard token with inbuilt governance & community participation capabilities for a more participative & vibrant community engagement in decision making.
Trace Distribution
100,000,000 TRACE shall ever exist, hence the total supply.
30,620,000 TRACE are reserved for community incentives, business development & ecosystem promotion. Out of this 20,620,000 TRACE are allocated separately in an ecosystem & business development fund, to be unlocked over a period of 24 months. Remaining 10,000,000 TRACE to be used for community incentivization for early adoption of the protocol, which will be unlocked over a period of 18 months.
16,380,000 TRACE are allocated to early backers & strategic investors, vested for a period upto 15 months.
500,000 TRACE are allocated for public sale.
10,000,000 TRACE are allocated to existing & future advisors, vested for a period upto 15 months. 5% of allocated TRACE will be unlocked on TGE and remaining to be vested for the mentioned period as above.
20,000,000 TRACE are allocated to founders & the team, subject to 18 Months vesting. 10% of allocated TRACE will be unlocked on month 6 and then unlocked daily for the vested period as mentioned.
20,000,000 TRACE are reserved for foundation and meant for product development & business expansion, strategic investment and are subjected to 24 months vesting. 10% of allocated TRACE will be unlocked on month 9 and then distributed daily till 24 months in total.
2,500,000 TRACE are allocated for the liquidity provision fund.
Trace Token Utility
Governance
TRACE is the governance token and empowers network users with governance control over the protocol. Network users & holders shall be able to run protocol on a day to day basis and participate in various decisions accordingly.
Protocol incentivization
TRACE would be distributed as a reward to network participants through various incentivization mechanisms from time to time.
Protocol participation
TRACE token is the fuel of the network and ecosystem which makes it mandatory for network participants to use for transactions & participate in operations of the protocol.
Staking rewards
A major portion of TRACE’s total supply is to be distributed among network users and therefore, TRACE will be used to incentivize staking on the network.
Interoperability & cross-chain settlement
TRACE will be used as a unit of settlement for all cross-chain settlement and a reconciliation unit for multi-chain interaction including inter & intra-chain transactions.
NFT Minting & Settlement
TRACE will be used as a base token to mint, acquire NFTs, and for the settlement of minted NFTs over the network and ecosystem. TRACE will be the preferred form of payment available for token issuance, transfer, and destruction.
Trade & Commerce
TRACE will act as a settlement & accounting unit for the exchange of value among different enterprises on the network. TRACE will act as a base layer of settlement & stability unit for all business transactions empowered by proprietary white label algorithmic stable coins.
How and Where to Buy TRACE token?
You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)…
We will use Binance Exchange here as it is one of the largest crypto exchanges that accept fiat deposits.
Binance is a popular cryptocurrency exchange which was started in China but then moved their headquarters to the crypto-friendly Island of Malta in the EU. Binance is popular for its crypto to crypto exchange services. Binance exploded onto the scene in the mania of 2017 and has since gone on to become the top crypto exchange in the world.
Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer, and buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)…
Step by Step Guide : What is Binance | How to Create an account on Binance (Updated 2021)
Next step - Transfer your cryptos to an Altcoin Exchange
Once finished you will then need to make a BTC/ETH/USDT/BNB deposit to the exchange from Binance depending on the available market pairs. After the deposit is confirmed you may then purchase TRACE from the IDO exchange:** SushiSwap’s MISO Launchpad**.
The top exchange for trading in TRACE token is currently …
Find more information TRACE
☞ Website ☞ Whitepaper ☞ Social Channel ☞ Social Channel 2 ☞ Message Board
🔺DISCLAIMER: The Information in the post isn’t financial advice, is intended FOR GENERAL INFORMATION PURPOSES ONLY. Trading Cryptocurrency is VERY risky. Make sure you understand these risks and that you are responsible for what you do with your money.
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