Teiki Gen I Ep 3: Extension

Teiki
3 min readJan 28, 2023

Our first two weeks of testnet!

Nearly two weeks have passed since we launched our platform for decentralised crowdfunding on Testnet. It’s been a relatively short span of time, but we’ve been able to collect and implement valuable feedback from our valued Creators and Backers. Thank you!

We love how lively our testnet launch has been, and we’re set to continue fostering community collaboration. So we’re inviting anyone to ask us questions or provide comments in our Discord! We’re serious about making this the best platform possible for Creators and their communities, which is why we’ve set up a pool of 20,000 ADA for bug reports and other valuable product feedback.

Next week, we are extending our feature set to complete the first scope of the protocol. Once done, we can freeze the protocol for auditing, and complete AI integration and UX enhancement in parallel. We expect to hit Mainnet beta in three weeks at the current pace!

Episode 3: Extension

Project Activities

Trust and transparency are essential for successful fundraising. Thus, all project activities on Teiki are stored publicly and immutably on Cardano and IPFS. Anyone can review a project’s growth history by visiting the Activities tab on its page. Both our AI and the Teiki community have the data needed to recognise hard work, and identify malicious activities.

Export Backer Data

Creators can quickly export CSV data of their Backers, allowing them to plan strategies to retain and reward Backers, such as through airdropping tokens.

In Generation II, Teiki will support on-chain rewards with integrated minting policies. We also plan to add features to aid physical goods shipping in the future.

Claim $TEIKI Rewards

In addition to any perks Creators thank their communities with, Backers reap $TEIKI every time the project reaches a fundraising milestone.

We’re striving to create a high-utility and equitable token representing the combined efforts of everyone in our ecosystem: Protocol, Creators, and Backers.

That’s why $TEIKI is non-pre-minted and does not have a max supply. The protocol mints $TEIKI only when a Project meets a fundraising milestone. When minted, $TEIKI is shared equally between the protocol treasury, Project, and Backers.

In Gen I, only the backers’ allocations are liquid. The protocol treasury locks the tokens until Gen II. The Project’s portion is minted for governance use only, and is locked and gradually burned in one year.

Close Project

Finally, creators can close their projects to reclaim the remaining funds and pledge. We expect that all closures are well-communicated happy endings when a project completes. That malicious projects will be detected, delisted, and fined early, thanks to our AI and the community.

Let’s co-grow the future of decentralized crowdfunding on our testnet!

Join Us

Website | Discord | Twitter | Telegram | GitHub

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