metadata: {"signature": "0x610951619ac89edbde0ee07fddae48a5544f93fc23e44bc2e5eb86b00fea6bbd3ef12954aef004e6fd2cc58be0b85391648161842153abf13d22a50b81c5d2891c", "application": {"round": "0x8dce7a66e0c310f9f89e847dba83b2344d589161", "answers": [{"type": "email", "hidden": true, "question": "Email Address", "questionId": 0, "encryptedAnswer": {"ciphertext": "4acl8nfsW7KSciRmtf4nIHLIKkjB6XfklxXxkfXxFlCITs4s0XV+4NPsCy5mRKww", "encryptedSymmetricKey": "cf318037edfd98f64ed6c28eb65fb27e3bfb3811331aee2b1c5363c2cbab1ae95b9bd3ebea6786b676453f92657d9d0142c11dc889c56ed2715a1a920314981732b17994ebc6bcdc402b2db8099d5e99e81359eee27a14f88b4d619652620d80a60a73972e4f5714a1ddc680707a3c94a07e92b92aff3c0acba5309e3f0fdde4000000000000002043b07e1c0a5d7c5d69ea921860c6345b4a547f24c64728c4bc60db3da4f14c2b8752fea9405c9bc1695b5ee34f256eb7"}}, {"type": "short-answer", "answer": "Community", "hidden": false, "question": "Funding Sources", "questionId": 1}, {"type": "number", "answer": "1", "hidden": false, "question": "Team Size", "questionId": 2}, {"type": "paragraph", "answer": "I like the network ecosystem because its low fees and its permissionless, fast, and accessible nature. Furthermore, I admire some developers and supporters of the Fantom network, like Andre Cronje, for instance.", "hidden": true, "question": "Why have you chosen to deploy on Fantom? ", "questionId": 3}, {"type": "paragraph", "answer": "The TIME Token Finance platform is community-oriented. In this sense, we believe it will help strengthen Fantom by attracting users and investors from various nationalities and backgrounds.", "hidden": true, "question": "How will your project contribute to the Fantom ecosystem?", "questionId": 4}, {"type": "paragraph", "answer": "I already use FTM for DeFi purposes, including the TIME Token Finance platform. So, I think the future use will remain the same as it is now.", "hidden": true, "question": "How will you use the FTM? ", "questionId": 5}, {"type": "paragraph", "answer": "I have complete confidence that this financial support will bring significant growth to our project. We develop all of our smart contracts with a focus on innovation. Every line of code written carries something new for DeFi, aiming to enhance the ecosystem and drive technological advancement. We hope you place your trust in us. We've worked tirelessly to bring this project to where it is today.", "hidden": true, "question": "Anything else you want to add? ", "questionId": 6}], "project": {"id": "250:0x8e1bD5Da87C14dd8e08F7ecc2aBf9D1d558ea174:234", "title": "TIME Token Finance", "logoImg": "bafkreie6emtolgc3gaogf7j7ilccr45s4kdjxtcvcjkp6526o4l6ueguly", "metaPtr": {"pointer": "bafkreihu4rwfi7ynq4ipcuhtazbtzzpviishbdau6ppsrkie7uqtmegyxm", "protocol": "1"}, "website": "https://timetoken.finance", "bannerImg": "bafkreihz4sufwcfypdfuqlvm5wmghdcaq2ya44ftoawnpmxnxddqghpswu", "createdAt": 1692827994967, "userGithub": "apolosan", "credentials": {}, "description": "Asset tokenization is changing the way we perceive and trade financial resources. In the world of crypto-assets, tokens synthesize a wide range of real assets in digital format. However, are there limits to what can be tokenized?\n\nAfter some experience as investors and developers in DeFi, we noticed that time is a valuable resource that is practically neglected in the tokenization process. We realized that it is possible to transform time into a tangible asset and generate value for it. However, there are some problems to consider, as we are dealing with a theoretically inflationary resource whose value is quite relative.\n\nWe present an ERC-20 token, called TIME, which seeks to represent time in its tokenized form and solve some relatively common economic problems related to this procedure.\n\nWith TIME, we turn time into an easily tradable asset in the DeFi environment, opening up numerous business possibilities, from receivables anticipation to time banking markets and universal basic income.\n\nThe TIME token has some interesting characteristics. One of them is that it does not have a fixed total supply but is offered according to its production.\n\nThe production of tokens by a wallet is linked to the time between asset production intervals. When a user activates their wallet and starts asset production, the number of tokens generated will be proportional to the time elapsed between these two events.\n\nMoreover, the TIME token contract offers incentives to producers on the units produced. Every time a swap is made directly in the contract, a portion of the fees (in the native cryptocurrency of the network) is distributed among all holders of the asset and can be claimed at any time.\n\nWith TIME, we have created a new way of doing business by turning time into money. Have you thought about the potential applications?\n\nAlso, we have developed in the platform a mint-backed token (backed with native token and TIME) called DeFi System for Reference - DSRv2 (D2). The overarching concept behind the D2 token is to offer investors a more streamlined investment mechanism by automating a significant portion of user actions within the smart contract. Additionally, the platform aims to enhance the value of its existing tokens (TIME, RSD, and SDR) from the ecosystem through an automatic mechanism for multiple token purchases, burning and swaps.\n\nAs a result, once an investor holds the D2 token, they gain access to the entire system, empowering them to adopt a range of strategies, from straightforward buy-and-hold approaches to more intricate ones...\n\nThe primary advantage of D2 lies in its liquidity: the token is backed minted and it cannot be generated without native token collateral. In other words, to produce any unit of D2, a certain amount of native currency must be provided as initial liquidity, either within decentralized exchanges or the D2 token's smart contract itself. Furthermore, the resources used for minting D2 are distributed among other contracts and protocols on the platform. Consequently, investing in D2 automatically adds value to the other assets and contracts within the system.\n\nAnother interesting feature of D2 is its dividend distribution to holders. Every time someone mints or buy D2, a portion of the resources is proportionally distributed (or marked to be distributed) among the holders as an incentive for acquiring and holding the token in their wallets. However, this is not the sole method of resource acquisition. The protocol also obtains resources through various other means, including:\n\n- Automatic arbitrage through Flash Loans / Flash Swaps;\n- Support for Flash Mint, where fees are charged for resource utilization;\n- 'Donations' to the contract (in native/network token), which can be utilized as a means for sending and distributing resources by future contracts and even third parties.", "lastUpdated": 0, "projectGithub": "timetokenfinance", "projectTwitter": "timetokent"}, "recipient": "0x731591207791A93fB0Ec481186fb086E16A7d6D0"}}