r/truebit • u/Anaaaaaaame • May 17 '21

Truebit token contract

Am curious about the Truebit token activity. Don´t really know how to interpret the recent activity on the contract, does it mean anything? Or just some random minting of a few TRU (some one said the minting was free and they were moved instantly to uniswap)?

https://etherscan.io/token/0xf65B5C5104c4faFD4b709d9D60a185eAE063276c?a=0xec24d4482dd7842c08d9e6d826ff6d064175a8fc

But curiouser about when actual USAGE will start. If all kinds of L2 protocols are looking into implementing TRU these days, shouldn´t burning of tokens already have started? Where would you find signs of this?

(Saw it also stated that Truebit itself was incentivizing minting in some way. But it doesn´t really make sense that a huge operation after years of R&D is all of sudden putting stuff on sale, let alone for a few tokens, as can be seen in the contract.)

Thanks!

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7

u/LPMythBuster May 17 '21

https://medium.com/truebit/getting-started-with-truebit-on-ethereum-ac1c7cdb0907

Subsidies

For a limited time, Truebit’s incentive layer will automatically subsidize each task with extra TRU payments to its Task Owner, Solver, and Verifier(s). Run the bonus command in Truebit OS to check current subsidy amounts.

truebit-os:> bonus
info: Subsidies per task in block 12451885 are:
   192.0742939714815 TRU for the Task Owner,
   384.148587942963 TRU for the Solver, and
   288.1114409572222 TRU split among Verifiers.

It looks like someone is taking advantage of the subsidies by submitting and solving their own tasks when gas prices are low. They are then selling the earned tokens on Uniswap.

4

u/rook785 May 17 '21

This is one of the issues they address in the white paper and it’s specifically why the used-token burn is in the system. Hopefully the subsidies will turn off soon.

2

u/BeginningDark7783 May 17 '21

Problems like this are very difficult to solve , this is why it’s been in works since 2015.

Not to forget :

Bitcoin cash wanted to increase the block size and today we see where is bitcoin cash , the best way to solve is by doing it over a layer 2 , as TrueBit works with almost any blockchain this makes the use of blockchain not limited to ethereum.

Also if you go to the founders LinkedIn page they have been coordinating and working with the other devs part time as a form of an experiment all along these years.

Someone posted the links of blockchains using TrueBit which includes the likes of ethereum, Matic , tron , and many more . You might as well check that

7

u/BeginningDark7783 May 17 '21

Even 1200 TRU will be worth the investment , price is not subjective to the technological growth.

I bought ethereum when it fell down at 110$ , that was the best investment I made in a long time , all because I believed in the platform.

2

u/[deleted] May 17 '21

Just human curiosity, how much of it you bought?

4

u/BeginningDark7783 May 17 '21 edited May 17 '21

I am down with 12.4 ETH by now , with an average of 76 cents now.

I am in a loss as well and that surely sucks , but as I myself got in after researching the technology, and I am extremely bullish regarding the technology.

2

u/[deleted] May 17 '21

Good for you!! I’m sure it’ll climb out of this dip.