It is possible to distribute any ERC-20 token using the THX infrastructure. Their gas station covers transaction fees, allowing your customers to interact quickly and for free. Manage community awards in Discord or Slack, as well as referral and registration incentives, and much more.
THX Network - Manage and reward your community with smartly integrated API tools!
Today, we'll take a closer look at the THX Network, a blockchain-based system that that lets you create and embed your own tokens in any app or website.
As an introduction, we'll need to learn about the THX Network's architecture. The THX Network is made up of several components that allows you to integrate blockchain technology into your platforms without having to worry about security, performance, or scalability.
'Asset Pools,' which are smart contracts that may contain any token or asset that uses Ethereum's ERC-20 standard, are at the heart of the THX Network design. These tokens can represent almost anything with identical qualities (in type and value); This could mean anything from reputation points in an online platform, lottery tickets, a gram of silver to a financial asset like a share in a company or a fiat currency like the USD.
On top of that, THX Network supports NFTs (ERC-721)
Because of THX Network's modular architecture, the manner those tokens and collectibles are employed is flexible. From designing and deploying your own ERC-20 tokens or ERC-721 collectibles in your app or website to gamified payments with stablecoins. The THX protocol contains everything, all you have to do it add it to your existing community channels, both on- and offline.
Nick Mudge's EIP-2535 (Diamonds) concept is used to create and manage asset pools. THX Network has arranged diamond facets into modules that identify their interdependencies to facilitate the maintainability of the diamond facets. Because the project intends to open up the contract layer to new module proposals, they've been given the designation TMPs: THX Module Proposals
The Diamonds implementation provides benefits like: no contract size limit, deterministic contract addresses and maintaining the contract functionalities.
Because of the modular structure, THX Network can combine multiple contracts and utilize them to deploy a single AssetPool smart contract. Because THX Network can mix modules to create new types while reusing old functionality, they are not constrained to a preset set of features for a list of asset pool types.
An API for everyone
THX Network provides an easy-to-use API that allows you to integrate all of the above functionality into your own application, website, or e-commerce platform.
THX Network employs Polygon, a layer 2 scaling solution, to provide end users with quick and inexpensive blockchain transactions. By forwarding all contract state changing transactions to the API admin account, who will be responsible for paying the network's gas fees in $MATIC, THX Network relieves the burden of paying gas.
First of all, we are thoroughly appreciating the transparency of THX Network, it’s the extra thing that makes a project really worthwhile, in this case THX Network has all the token contracts and multisig accessible to the public. The $THX token is used for governance. The protocol's parameters and upgrades are controlled by $THX holders. This includes voting on how to manage the 'Community Treasury,' 'Community Distribution,' and 'Community Incentives,' among other things. But also, and perhaps more importantly, the peak of the 'Asset Pool' fees and their activation. Most important decisions that affect the community are put to vote on THX Network's Discord, before implementing them. The transaction fees have already been implemented and set to a level of 2,5%. More info on this HERE.
When tokenized assets are deposited by its creator or participants, each Asset Pool is allowed to receive fees. The coding that authorizes these fees is triggered after a community vote and if so chosen by the community. From that point forward, the $THX token can earn protocol fees, which can then be claimed by token holders via a mechanism that performs market buys of the $THX token using the fees received.
An e-commerce merchant, for example, might want to give $USDC cashbacks on their checkout page. A 0.5% deposit fee is paid when setting up their Asset Pool with 10.000 $USDC. The protocol is currently charged a $50 USDC fee.
Use cases for $THX
THX Network has created some use case decks for various possible users (athletes, creators, communities), which can be found here: https://docs.thx.network/use-cases/for-communities
Users can also make use of these decks when participating in the "sales mining" program.
Boost community engagement by using $THX to award points to members of your community for a variety of activities. Imagine rewarding users for filling out their profiles and allowing your members to redeem their points for premium content. People have a better experience with your app or community, which increases engagement.
It is possible to distribute most ERC-20 tokens on Polygon using the THX Network infrastructure. Their gas station covers transaction fees, allowing your customers to interact quickly and for free. Manage community awards in Discord or Slack, as well as referral and registration incentives, and much more.
You can pool and distribute money using crypto stablecoins using the THX Network infrastructure. It works in the same way as a joint checking account. Their API allows users to communicate quickly and easily. You may use programmable rules to establish cashback schemes, peer-to-peer payments, and much more from inside your app.
Incentives for all
The most crucial indicator for THX Network growth right now is enrolling protocol users and establishing protocol fees. In the sales funnel, as well as in assisting them with the creation of their token and the design of their tokenomics. To encourage everyone to join the THX Network ecosystem and also tell their friends or other project owners about it, the team consequently launched the Sales Mining program.
For registering new protocol users, the following $THX rewards available:
For a user with a Polygon mainnet deployment and a protocol fee-paying asset pool, 8000 $THX will be available. A user with a mainnet deployment and protocol fee-paying asset pool who has more than 5.000 subscribers or members on any of these channels—YouTube, Twitter, or Discord on the other hand will receive 40.000 $THX
The team also rewards users for engaging in various tasks such as sharing a post or discussing a topic on Discord, through automatic bounties.
THX Network - A protocol for champions
French biker Matthias Dandois has been at the top of his game for years, pushing flatland BMX style and evolution, and winning not one but nine world champion titles has launched his $DOIS engagement token with the help of THX Network.
Matthias is the first athlete to make use of this technology to thank his fans for their participation on already-existing platforms. Matthias is now able to engage his audience in new ways and support his community.
The THX Network Team
The team is amazingly passionate about THX Network and constantly seeking to improve and offer the best solutions for users and projects alike.
We think THX Network has a noble and future-centric view of the DeFi space, it is imperative to understand the needs of both customers and companies and these guys are doing so tenfold!
Interested what THX Network can do for you? Reach out to them via one of the links below or book a live demo with one of their founders!
Website - https://thx.network/
Discord - https://discord.com/invite/TzbbSmkE7Y
Twitter - https://twitter.com/thxprotocol
Github - https://github.com/thxprotocol
Linkedin - https://www.linkedin.com/company/thxprotocol/
Medium - https://medium.com/thxprotocol
Jun 28, 2022