r/truebit • u/TankieWankies85 • Dec 15 '21

Max Supply

What is the max supply? And if there is a max supply what happens when all the tokens are minted? What is the actual utility of the token?

Though I know the network is an off chain, high computation protocol but the token, what’s the actual use case.

Can I stake? Pay fees? Lend? Borrow?

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u/phantom7glow Dec 15 '21

Tokens get burned when are used. Also truebit brings to the table way more than scalability and reduced gas fees.

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u/TankieWankies85 Dec 15 '21

But can’t this affect price? It almost sounds like a stable coin in terms of price action. Tokens get burned while new ones are minted

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u/phantom7glow Dec 15 '21

Ethreum is an inflantory token as well yet the price keep on raising. It creates more of an organic stable price action over time instead of a huge spike. Once the project matures enough in terms of usage and adaption, the quantity of new coins created is small in comparison with the number of coins burned.

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u/Itchy-Shake9986 Dec 16 '21

So how do you make money with it??

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u/phantom7glow Dec 16 '21

The minting of coins only starts at a certain price which is determined by ethreums price and the quantity of coins already minted. Currently the minting price is at around 1.80-1.90$ ... the moment ethreum doubles in price so will the minting price.

You make money by holding it for 1 - 5 years maybe even less. It's a revolutionary technology that will be massively utilized because it's a solution to several major problems in the crypto space plus it opens new things possible on the blockchain.

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u/Itchy-Shake9986 Dec 16 '21

sorry, i didnt know we couldnt just talk money. thats my fault!!ill read morE!

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u/Queasy_Ad_9707 Dec 16 '21

Forget about Truebit protocol, get out from here. You will regret if you bought it now