What is Ternoa (CAPS)?
Ternoa is an open-source layer-1 blockchain built on Substrate. It seeks to build infrastructure for people to easily launch NFTs or NFT marketplaces. The blockchain provides NFT developers with a full technological stack, as well as access to independent infrastructure, nodes, communities, and funding. Ternoa blockchain uses the Nominated Proof-of-Stake (NPoS) consensus mechanism to secure the network.
Capsule (CAPS) is the network's utility token. Check out the Ternoa price chart above to see the current CAPS price.
Ternoa has a lot of features, including an explorer for users to monitor transactions, a status page to observe the real-time status of Ternoa networks, a token bridge for ERC-20 token holders to swap their tokens into CAPS, and much more. Besides, the blockchain also has a wallet that is compatible with CAPS tokens, NFTs, and decentralized apps (dApps).
It's also important to note that the Ternoa network has an Alpha-net used to test new projects, as well as a mainnet used to deploy them.
Use Cases of CAPS Tokens
CAPS coin is used on Ternoa as a utility token for all transactions. For instance, users must hold CAPS tokens if they want to mint new NFTs, add data to NFTs, encrypt that data, and transfer NFTs.
Besides, CAPS tokens can be staked. By staking Ternoa tokens, users can become validators on the blockchain. Validators help secure the network, and they are rewarded for the services they offer. Additionally, you can stake your CAPS tokens and delegate them to other validators to earn income passively.
Lastly, CAPS tokens are also used for governance. This means that CAPS holders have the right to vote on various decisions concerning the development of the Ternoa crypto project.
Who Founded Ternoa?
The project was founded by Mickael Canu in November 2020. He is a serial entrepreneur in the crypto space. Canu is also the co-founder of Capsule Corp and the general director of Netick.
CAPS Tokenomics
The maximum supply of CAPS tokens is 2.5 billion. Concerning the token distribution, 26% of the supply was dedicated to private and public sales, while 20% was dedicated to the team and advisors. Furthermore, 15,24% of the supply was dedicated to staking rewards, first master nodes, and an airdrop. The remaining supply was put in the Ternoa reserve, as well as set aside for marketing, development, ecosystem improvement, and future partnership.
All allocations are on strict vesting and release schedules. This prevents the dumping of the CAPS tokens by the early investors and the team, which could reflect negatively on the CAPS price. Don't forget to check the Ternoa price chart above to see the current CAPS value.
