Digital currencies have a big role to play in shaping the future economy of the world; with the gradual acceptance of blockchain technology, and cryptocurrencies by economic governing bodies worldwide, the use of these digital currencies by everyone in carrying out daily transactions will be inescapable. It is therefore very important to apply trustworthy principles of fiat currency economics to digital currency, and the wide spectrum of cryptoeconomics. One of such very important principles is that: for any economy to remain sustainable it must have a secure method of storing value while earning yield, and this is what Token Union seeks to provide for the cryptoeconomy.
Token Union is an embodiment of the principles of saving, and interest as used in the fiat money economy. It is a first of its kind experiment that generates rewards in an unprecedented way while inherently creating incentives to hold cryptocurrencies long term. In fiat money economics the time value of money is an important concept, this principle is based on the idea that the value of a given amount in the present is worth more than that same amount at some point in the future due to its potential earning capacity, this principle will be adapted to cryptoeconomics by Token Union. Token Union provides token holders with a way to earn time value of tokens (TVT), rewarding them for holding their tokens long term.
The innovation of this concept by Token Union is as a result of certain trends in the cryptoeconomy. Individuals now use the strategy employed earlier by those who held Bitcoin and Ether, whereby they bought and held the tokens till they reached their optimum potential, and made exponentially more than those who traded off theirs too early. Due to the fact that cryptocurrencies are still far from mass adoption, speculating on the price of tokens that have potential for massive adoption in the future is high, with many now holding large sum of tokens they believe will increase in value.
However, just as holding fiat money for long periods without earning interest is unwise, and risky, the same applies to tokens. Token Union will close the gap in the cryptoeconomy TVT on held tokens.
Token Union network with its native token UNI, allows users create a holding contract; this is a decentralized token storage method in which they can store their ERC20 tokens, and have their tokens added to the network, where they are eligible for rewards. The reward system for the network is powered a withdrawal fee, the withdrawal fee is both the source of rewards for holding tokens on the network, as well as a means of discouraging early withdrawals.
Once a user withdraws his or her token a fee will be paid, the value is then distributed to the remaining users on the network proportional to the value of the users holding contract. The distribution of the value is made in the native UNI token, and the user can choose to convert their rewards to the respective tokens they hold thereby increasing their holdings.
Token Union will become an integral part of the cryptoeconomy of tomorrow with this innovation, and will be one the leading methods of storing value.
For more information;
Website: http://tokenunion.io/
Whitepaper: https://docsend.com/view/hj4tdrk
Telegram: https://t.me/tokenunion
Facebook: https://www.facebook.com/tokenunion/
Twitter: https://twitter.com/TokenUnionIO
Author: Ojeaga Joseph ( https://oseroslair.wordpress.com )
Bitcointalk: Boluwatife
Bitcointalk Profile Url: https://bitcointalk.org/index.php?action=profile;u=1398337;sa=summary
Eth Address: 0x1EDf8CafDA6c89f6F85Db1C43De3C53b1d68BaB0
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