Questions about the TARA token
The initial supply is 10 billion tokens, but as outlined in our economics, block rewards from staking and running consensus nodes will be inflated, at a maximum of 20% annualized yield.
You can find details about TARA's token allocation, unlock schedules at the Taraxa Token Information page.
TARA tokens are used for 3 things,
- Gas fees: used to pay for transaction processing
- Staking: used to secure the network against Sybil attacks, staking will have a maximum 20% total annualized yield, rewarded in the form of inflated tokens in block rewards.
- Voting: used to vote on changes to the network.
You can read more about the Foundation's proposed governance model here in our whitepaper. After mainnet deployment, the core team will work hard to build in governance mechanisms directly into the code to prepare for truly decentralized and community-driven decision-making process.
You may claim your rewards at Taraxa's claim site. Please note that, in order to be eligible to claim rewards in the form of tokens, you must pass our KYC process on the community site.
The Taraxa Foundation is always coming up with new ways to actively engage the community at large, check out current bounties here at the community site.