TNC Partnership Announcement

Edge is thrilled to announce a partnership with TNC IT Group, which will see Edge working collaboratively with hundreds of crypto projects as part of an ecosystem dedicated to driving the industry forward.

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Edge will be providing infrastructure services to TNC and the other companies in the group. It will also be contributing to the development of new projects originated by TNC to help to accelerate the adoption of blockchain-based platforms.

As part of the agreement the current $EDGE token will be merged into a new group coin, the TNC Group Token ($TNC), which will be launching at the end of March. This change addresses the tokenomics of the Edge Network by ensuring liquidity and significant exchange coverage, both of which are critical to the growth of the Edge Network.

There will be a token swap which will provide 11 $TNC for every 1 $EDGE held.

Swapped tokens will be released to a vesting period which will be confirmed in the coming days. This process will be the same for all holders of $EDGE, including the core team and the company itself.

As part of the partnership, TNC are committed to supporting the release of the eDAG – the blockchain solution at the heart of the Edge Network. The eDAG will bring smart contracts and instant, feeless transactions into the Edge Network, enabling per-minute payouts for the contribution of computational power.

$EDGE will be formally relaunched later in the year with updated tokenomics better aligned to the requirements of the network moving forward.

🔗Staking

Staking and payouts in the network will continue uninterrupted. Currently staked tokens will be automatically swapped for $TNC (and are subject to the same vesting period). Payouts and new stakes will be in $TNC.

🔗The Tokenomics of $TNC

Key take-outs:

  • The supply of $TNC is 1 trillion
  • c.5% will be distributed as part of the token swap for the first confirmed group projects
  • Additional $TNC will be distributed to a second cohort of projects in six months
  • TNC have committed to exchange listings and exchange support, with a broad array of exchanges confirmed for the first listing
  • TNC have a commitment to ensuring liquidity

$EDGE will be formally relaunched later in the year with updated tokenomics better aligned to the requirements of the network moving forward.

The TNC token has been designed as the central token for the TNC ecosystem. You can read the whitepaper here: https://tnccoin.com/whitepaper.pdf And see the token contract here: https://etherscan.io/token/0x39e743fee400a5d9b36f1167b70c10e8f06440e5

🔗Schedule

The token swap will be open for the period of one year. Specific timings for exchange listings and for the TNC Group Token’s vesting schedule are to be announced pending confirmation.

🔗About the eDAG

The Edge token is the mechanism for staking and value transfer within the Edge Network. It is an ERC-20 token, running in the Ethereum network. Whilst this was beneficial in the early stages of network rollout - speed to live, ease of integration with exchanges to support token distribution - it is limiting in other respects. The cost of transactions within the Ethereum network and the slow pace of settlement mean that ERC–20 is fast becoming a blocker to the coming updates within the network.

For staking purposes, ERC–20 has been a good solution to date. At such a low rate of transfer, transaction fees are palatable due to their relatively minor value in proportion to the value transferred. Fees at this low volume are widely accepted, but when transferring smaller amounts such as micropayments for services, the fees become proportionally far more apparent, to the point of having an adverse effect on both revenue and adoption.

As the Edge network aims to move from monthly payouts to daily payouts in the near future, and from there to hourly and eventually per minute payouts, it needs an internal network value transfer mechanism that is free, massively scalable and that provides instant settlement.

We need to maintain the provision of smart contracts as these are central to the mechanisms of the network: enabling the trustless use of spare computing resources in return for a consideration of network fees; enabling staking, and providing a traceable history of resource usage on a per node basis.

To this end, a DAG-based chain will be introduced within the network. We are calling this the eDAG, or Enterprise DAG.

Technical Summary:

  • DAG-based chain with smart contracts
  • Stats Agent Nodes have public key identity (EcDSA or EdDSA)
  • Stats Agent on each node that feeds signed data to a single Gateway, preferring the one the processing agent is connected to
  • Stats Agent on the connected gateway signs the verified statistics
  • Isolate points to perform consistent execution of smart contracts
  • Data storage with resampling support (prune data, sorting ownership of old data so it can be replaced)
  • Consensus Mechanism – Delegated proof-of-stake

🔗Key Links

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