<h2><img src="https://taikai.azureedge.net/KriuCtNTNalQeYSCDG4IN13-IczpTMNIvqtfmJeQ3B8/rs:fit:800:0:0/aHR0cHM6Ly9zdG9yYWdlLmdvb2dsZWFwaXMuY29tL3RhaWthaS1zdG9yYWdlL2ltYWdlcy9iM2QxMjU1MC1lOWE0LTExZWQtYjA2My1kZGI4ZWYyZDBjODdUS0FJIFRva2Vub21pY3MgY292ZXIucG5n" style="width:800px" class="fr-fic fr-dib" /></h2><h2>Overview 📋</h2>TAIKAI’s vision is to foster and enable an open innovation community through hackathon ecosystem growth, by providing the right tools and conditions for talented people to gather together and solve real-world problems. TAIKAI's profound belief is that it is through the combination of creativity, entrepreneurship, and cooperation that real value can be derived. TAIKAI has been at the forefront of organizing hackathons since 2019, with over 150 successful events under its belt. As a leading platform in the industry, TAIKAI recognizes the significant value that hackathons generate, which is unfortunately not being fully utilized since most of the innovations and talent dissipate due to a lack of access to resources.As a platform, TAIKAI has collected thousands of data points regarding entrepreneurial projects over the years. The knowledge gathered from that data has led to the development of a new product that empowers innovators and projects by providing them with the resources they need to turn their ideas into reality. Not only it is aimed toward projects that transition into a post-hackathon phase as it welcomes innovators at any stage of their development to capture and maximize the value they create. By leveraging its vast database and expertise, TAIKAI's new product helps to sustain the momentum of hackathon projects and encourages ongoing collaboration and innovation within the community. 👭<h2>1. TAIKAI Garden: Planting and Harvesting Innovation 👩‍🌾</h2><img src="https://taikai.azureedge.net/Ouf7zcocyz5OEsBcmXT8V-3OqrPYKx4Q2GskJsB90v8/rs:fit:800:0:0/aHR0cHM6Ly9zdG9yYWdlLmdvb2dsZWFwaXMuY29tL3RhaWthaS1zdG9yYWdlL2ltYWdlcy82YTc5ZjUxMC1lOTAxLTExZWQtODk5YS1hNzNmMmQzZjkyYTltaWQyLnBuZw" style="width:800px" class="fr-fic fr-dib" />TAIKAI Garden TAIKAI introduces TAIKAI Garden, a tokenized ecosystem that grants access to a community of innovators and stimulates participation therein through the use of $TKAI. The ecosystem is designed in order to align individual incentives with the goals of an entrepreneurial community with the token as its vehicle. Moreover, it will act as another step in breaking down the barriers to participation in the digital economy, as more users transition into Web3.TAIKAI Garden is sustained by its incentivization mechanism, named Proof of Curated Innovation (PoCI), which serves as a driving force to maximize the rate of successful development and deployment of relevant projects within the TAIKAI ecosystem. <table style="width:100%"><tr><td><div>What is considered “successful development and deployment”?</div></td><td><div>What are considered “relevant projects”?</div></td></tr><tr><td> <ul><li>Accomplish stepstones;</li><li>Have quality standards;</li><li>Adoption or usage by the intended audience;</li><li>Community collaboration;</li><li>Revenue generation and/or investment/donations attraction.</li></ul> </td><td> Carefully identified and selected projects that:1. Are aligned with the objectives and values of the ecosystem - transparency, verifiability and ownership; 2. have a higher potential for success and impact. </td></tr></table> By leveraging the native $TKAI token, users can provide curation, access funding, pay for services and connect with a network of like-minded individuals. With the token as its vehicle, PoCI is composed by three main pillars:1. Innovation Farming: rewards allocation to projects whose development is considered as most worthy of distribution.Main Stakeholders:  Project Owners 👨‍💻2. Innovation Curation: the process through which curators evaluate and select high-quality and promising projects to be worthy of the batch farm while getting rewarded by doing so.    Main Stakeholders:  Curators 🎯3. Innovation Sandbox: the repository in which project owners publish their development and interact with the community to refine concepts and stepstones before launching them into the real world. Additionally, it functions as a showcase of the profiles of individuals who wish to provide industry expertise in the form of direct mentorship.Main Stakeholders: Projects Owners, Mentors 🤔The use of PoCI not only ensures that resources are provided for high-quality projects that have been evaluated by a network of trusted curators but also incentivizes project owners to strive for excellence in their work. It is from LayerX's understanding that we are addressing some of the most relevant entrepreneur’s needs in an effective manner. <table style="width:100%"><tr><td style="text-align:center">Innovators Needs</td><td style="text-align:center">Questions Innovators Make</td><td style="text-align:center">How does the ecosystem answer it</td></tr><tr><td style="text-align:center">Strong Idea</td><td style="text-align:center">Is my idea worth pursuing?</td><td style="text-align:center">Curation</td></tr><tr><td style="text-align:center">Strong Business Plan</td><td style="text-align:center">Is my execution plan coherent?</td><td style="text-align:center">Curation</td></tr><tr><td style="text-align:center">Funding</td><td style="text-align:center">Do I have the required capital?</td><td style="text-align:center">Farm</td></tr><tr><td style="text-align:center">Talented Team</td><td style="text-align:center">Do I have the right people with me?</td><td style="text-align:center">Network</td></tr><tr><td style="text-align:center">Expertise</td><td style="text-align:center">Do I have the knowledge?</td><td style="text-align:center">Mentorship</td></tr></table> It is <a href="https://layerx.xyz/" target="_blank">LayerX</a>'s ambition that this new product becomes an industry example of a well-built <a href="https://blog.oceanprotocol.com/the-web3-sustainability-loop-b2a4097a36e" target="_blank">Web3 Sustainability Loop,</a> a concept coined by Trent McConaghy. In essence, the premise is to build a valuable ecosystem for collaborative innovation with self-reliant growth and which is persistent over a large timeframe. In order to achieve this, a positive feedback loop must be in place with the following constraints:1. On average, each project in the Innovation Sandbox must add sufficient value to the ecosystem.2. Value added to the ecosystem needs to be reflected in the $TKAI price.To ensure the Web3 Sustainability Loop is maintained, LayerX will continue to iterate and optimize the ecosystem based on feedback and data analysis. This includes monitoring and adjusting incentives to encourage valuable contributions to the ecosystem or even mechanism fundamental changes. <h3>2. The TKAI Token ⚙️</h3>$TKAI serves as the inherent utility token in the TAIKAI Garden and plays a crucial role in enabling PoCI. With the token, users can fully participate in the TAIKAI Garden, gaining not only a sense of ownership and engagement but also reaping the rewards from innovation and community building.<h3>2.1. The Utility</h3>The key token utilities within TAKAI Garden are: 👇<h3>2.1.1. Medium of Exchange</h3>TKAI is the means of payment for specific actions in the TAIKAI platform, namely to access gated services. These payments are done from the user’s balances and paid to the TAIKAI treasury. TAIKAI services that require payments include:<ul><li>Applying the project to the Innovation Sandbox for eligible curation;</li><li>Applying for a mentorship role at the Innovation Sandbox to provide expertise;</li><li>Featuring project on TAIKAI’s main feed for extended exposure to the community;</li><li>Launch project community challenges to outsourcing ideas and development;</li></ul>Additionally, users will have the freedom to engage in peer-to-peer transactions, such as mentorship, without any fees charged by the TAIKAI platform. Further services provided by TAIKAI may be considered as other means of payment in the future.<h3>2.1.2. Locking</h3>Although any user may have reading rights over the information on TAIKAI Garden, the scope of the potential impact on the platform is very limited. In order to have publishing, editing and reviewing rights on the Innovation Sandbox’s projects, users must lock a minimum amount of TKAI supply for a minimum amount of time, incentivizing long-term holding and commitment to the platform’s goals. The minimum set of TKAI supply and period over which is denominated as Impact Threshold. <h3>2.1.3. Staking</h3>Regardless of accomplishing the Impact Threshold upon locking, the exchange between TKAI for veTKAI will take place. veTKAI is a derivative token, inspired by veCRV contracts, which has no market value and only takes form within the realm of TAIKAI Garden. It serves as a means for curators to exercise their voting power over the selection of the most deserving projects for rewards in the Innovation Farming batch.The exchange rate between TKAI and veTKAI is not constant nor is the holdings of the derivative token over time. Instead, the exchange rate upon locking is solely dependent on the duration for which TKAI is locked. If a user locks TKAI for a more extended period, he will receive more veTKAIs per 1 TKAI locked. In other words, the exchange rate is directly proportional to the locking period. Furthermore, veTKAI balance will slowly start declining linearly over time until the lock-end date. By the time the lock time has lapsed by 50%, a user will have 50% of their original veTKAI balance. Once the lock time ends, veTKAI balance will hit 0 and the user’s TKAI tokens can be withdrawn. The more TKAI is locked and the longer it is locked for, the more curation power a user will have and potentially the more rewards one could have access to. This mechanism incentivizes users towards long-term commitment and prevents collusion from malicious actors in the ecosystem.<h3>2.1.4. Rewards</h3>TKAI serves as an incentive to the community for performing desired behaviors aligned with the platform's goals. The are two main sources of TKAI rewards:1. Hackathon Rewards: distributed among hackathon participants on the TAIKAI platform, including hackers, mentors, and juries, in order to incentivize its usage in the TAIKAI Garden.2. Innovation Farming: distributed amongst projects and curators in TAIKAI Garden. Rewards are distributed to projects based on a ranking system that is determined by a Reward Function. A project's Reward Function value is determined by veTKAI allocations and the Collaborative Innovation Volume, the CIV, which is an indicator that accounts for the project owners' interactions within TAIKAI Garden regarding the development of the project in hand. The calculation for the Reward Function will be further explained in the future. The calculations for a project's Reward Function and allocations towards project owners and curators will be further explained in the future. New rewards may be considered as well.The diagram below showcases an abstract visual overview of PoCI and how different elements of the mechanism are connected in the ecosystem.<img src="https://taikai.azureedge.net/hDV36dtZ0x-5NQrEfahGTnwBkIFDo1NxwpZ6hdwwtWs/rs:fit:800:0:0/aHR0cHM6Ly9zdG9yYWdlLmdvb2dsZWFwaXMuY29tL3RhaWthaS1zdG9yYWdlL2ltYWdlcy9jMjMzNDkyMC1lOGUxLTExZWQtOGIzZC1mOTY4MTU3ZWI3NGFpbWFnZTIucG5n" style="width:800px" class="fr-fic fr-dib" /><h3> </h3><h3>2.2. Token Distribution and Vesting</h3>TKAI has a supply of 300M preminted tokens that will be initially allocated to the treasury and will be fully distributed over the course period of 120 months to the ecosystem. Below is a detailed description of the different categories for the token allocation and the respective vesting.<img src="https://taikai.azureedge.net/3X12LGqIH7SxTt5E98Nu8nLBM-YJP9nYKwWaa2GQhSE/rs:fit:800:0:0/aHR0cHM6Ly9zdG9yYWdlLmdvb2dsZWFwaXMuY29tL3RhaWthaS1zdG9yYWdlL2ltYWdlcy84OGVmYjU5MC1lOGUxLTExZWQtODk5YS1hNzNmMmQzZjkyYTlpbWFnZTEucG5n" style="width:800px" class="fr-fic fr-dib" /> <ul><li>Hackathon Rewards: rewards allocation towards TAKAI hackathon participants from previous and future editions, including hackers, juries and mentors, in an approximately linear vesting schedule over the next 120 months. Monthly allocation volume will be highly dependent on hackathons frequency and personalization. On launch, approximately 15% of the supply will be distributed amongst previous hackathon participants, dating from 2019.</li><li>Innovation Farming: rewards towards highly rated projects and curators in TAIKAI Garden in each batch. This is to ensure we have an adequate reserve for rewards distribution over time in the following 120 months and for product market fit iteration. Rewards volume will always be set previously to the batch’s period and LayerX will always inform the community of changes regarding them.</li><li>Team, Equity Partners and Advisors: allocation towards LayerX team and its equity partners &amp; advisors, responsible for planning the strategy and execution for the TAIKAI Garden development. The allocation will be cliffed for 6 months after the launch and, once the cliff period is over, 10% will be distributed. Over the following 36 months, the remaining allocation will be distributed linearly.</li><li>Hacker External Communities: allocation towards Web3 communities that are devoted to goals that approximate those of TAIKAI. The distribution will be made linearly over the course of 36 months.</li><li>Liquidity provision: allocation towards enlisting the token on tradeable markets. The entirety of the supply towards this allocation will be placed in both centralized and decentralized exchanges in a maximum time frame of 24 months.</li></ul> <img src="https://taikai.azureedge.net/raJPDledRd3pddksMOq5YkdrmJM4lCHEQswPpi2-p9o/rs:fit:800:0:0/aHR0cHM6Ly9zdG9yYWdlLmdvb2dsZWFwaXMuY29tL3RhaWthaS1zdG9yYWdlL2ltYWdlcy9hYzEyMjdiMC1lOGUxLTExZWQtODc1OS0yMTc1MTZkMzkwMGRpbWFnZTMucG5n" style="width:800px" class="fr-fic fr-dib" /><h2> </h2><h2>3. Governance 🗳</h2>TAIKAI Garden will have a hybrid approach between centralized and decentralized governance processes. It is from <a href="https://layerx.xyz" target="_blank">LayerX</a> understanding that this is the optimal infrastructure to scale the ecosystem effectively since some decision-making processes require specialized expertise and a centralized approach. Nonetheless, LayerX is committed to ensure that the community remains involved in the decision-making processes. That is why, from time to time, TAIKAI Garden members are called upon to contribute to decisions to govern their own community.<table style="width:100%"><tr><td style="text-align:center">Centralized Governance Decisions LayerX</td><td style="text-align:center">Decentralized Governance Decisions Community</td></tr><tr><td>1. Innovation farming rewards and payments calibration in each batch;2. Addition of new features in the ecosystem.</td><td> 1. Curation of platform content;2. Allocation of the Innovation Farming;3. Proposals and improvements of the product. </td></tr></table>There is an ongoing goal to establish user-friendly governance processes that support its long-term reputation, as well as the community engagement it entails. Conscious that governance mechanisms must be designed such that decisions are transparent, permissionless, and align incentives for the long-term, voting will be held on-chain.Regarding the specified decentralized governance scope, all users can submit governance proposals. There is, however, an initial and transitory development stage, until TAIKAI platform reaches its maturity, where it is up to the LayerX Team the exclusive right to present governance proposals. Further development on these transitions will be made in the future. <h2>4. The Roadmap 🗓</h2>👉  TKAI Tokenomics v1 - Q2 2023👉  TKAI Withdraw and Deposit on the platform - Q2 2023👉  Incentivization Mechanism Optimization - Q3 2023 👉  Extended Whitepaper Release - Q4 2023👉  TAIKAI Garden (Beta) - Q1 2024👉  TKAI Community Distribution Wave 1 - Q3 2023👉  TKAI Community Distribution Wave 2 - Q2 2024👉 Governance Proposals Dashboard - Q2 2024 NOTICE: The dates delineated in the roadmap are susceptible to modification due to regulatory alterations, legal impediments, or technical setbacks that may be encountered by LayerX’s team. ☑️ Last Revision: 2th May 2023<h3>Legal disclaimer</h3>There are a number of other important factors to consider in the tokenomics of the TAIKAI platform. These include:Regulatory environment: The TAIKAI platform and the $TKAI token are subject to various laws and regulations, including those related to consumer protection, and data privacy. It is important for stakeholders to understand these regulations and how they may impact the use and value of the tokens.Partnerships: The TAIKAI platform has established partnerships with a number of web3 companies and organizations, which can help to drive adoption and growth of the platform. These partnerships may also have an impact on the value and utility of the $TKAI tokens.Other features or characteristics: There may be other features or characteristics of the $TKAI token and the TAIKAI platform that are important for stakeholders to know. This could include things like the technical details of the token or the platform, or any unique or innovative features that differentiate the platform from its competitors.

The TKAI Tokenomics article explores the various factors that contribute to the value of the token, including its use cases, token supply, and distribution. 

TKAI - Tokenomics

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