What is TycheCoin?
TycheCoin is a stake in the project BlockchainNeXT, a venture of BlockchainNeXT OÜ, Estonia. The project BlockchainNeXT is an umbrella architecture to connect existing and future blockchains. TycheCash, TychExchange, TycheCard and TycheGate are a few of the projects under development in the BlockchainNeXT construction. The synopsis whitepaper is available to get an idea of it.
TycheCoin is presently a ERC20 Token with total supply of 1 billion. It is based on Ethereum smart contracts. TycheCoin is the stake part of the whole system and will derive its value from market demand as well as the worth of the ecosystem we are creating at BlockchainNeXT. TycheCoin is the vehicle to participate in any of the BlockchainNeXT projects. Till now (October 2018) approx. 28 million TycheCoin have been distributed through angel investment/ conversion of TycheCash/ ETH.
What is the model of Token distribution?
The project needs funding in parts and so the ICOs of TycheCoin will be done in phased manner unlike most other ICOs. Participants in each phase will be getting the Tokens of sub-system wherever explicitly specified and possible till the time of final ICO.
Initial conception phase where seed investment was required has already been completed. This was the Angel Round and token distribution for that is finished.
The second phase is an ICO to fund TychExchange. In this phase 100 Million TycheCoin will be on sale and 340 Million of TEX will accompany that out of total 1 billion TEX, with that giving subscribers 10% stake in TycheCoin and 34 % stake in TychExchange.
The next phases will be for TycheCard, TycheGate and Tyche*****Go (This last falls under our classified information at this point in time and will be shared at a later stage where its final destination will announced).