What is Tillage (TILL) Token?
Tillage (TILL) is the native token of TILLAGE, which means arable land. You can use “TILLAGE” to own and manage a variety of innovative and stable crops. Tillage is based on Klaytn blockchain network.
The token has a maximum supply of 1,000,000,000 and a total supply of 1,000,000,000. As of December 29, The Tillage price is $1.02 with a 24-hour trading volume of $128,367 USD.
Tillage (TILL) Tokenomics
By owning Crops NFT and staking, you can earn additional $TILL tokens in the form of interests. This is the same principle as the traditional FT, like staking tokens or coins. Because NFTs can be purchased, traded, and valued with $TILL tokens, you will be getting $TILL tokens not only NFTs by staking.
Users represented as scarecrows generate $TILL tokens by harvesting crops (Crops NFT). Because available resources are limited, when crops (Crops NFT) are harvested, the amount of $TILL will be bought back from the Tillage Foundation and returned to the user.
The usage of $TILL is as follow:
● Buy Crops NFT
● Issuance of new Crops NFT
● Governance voting
Tillage DAO has a goal of decentralization and integration of agriculture and technology, ultimately aims to change the agricultural environment of the earth by empowering all participating users.
When the project is closed and the Crops NFT buyback is completed, Tillage Foundation will send you a list of crops available for the next project, and Tillage DAO will vote for new crops. This is a combination of people’s interest in crops and the fact that you do not have to grow them yourself, and it is meaningful in that it can effectively increase the public’s understanding of agriculture.
People in today’s busy society can get a lot out of having a small garden on a weekend farm or home. As part of this, Tillage seeks to live up to people’s expectations by shipping actual crops or seeds that are actually grown if the conditions are met.
Voting is done by users who own $TILL tokens, and whitelist rights are granted according to the amount of votes cast. For crops that have been voted on, orders are placed on farms including rice mills through the Foundation Steering Committee. After going through all the process, a new Crops NFT is issued, repeating the old process until the next vote.
What is the TILLAGE Project?
Tillage is a Defi and NFT project built on the Klaytn blockchain network. Users referred to as farmers purchase Crops NFTs by $TILL tokens and plant them on the “Growing Farm” to create an ecosystem by staking, issuing and incineration. Unlike other blockchain networks that use Ethereum or Layer 1, Tillage is using the Klaytn network, which has improved commission efficiency and transaction speed.
In addition, they plan to develop a cross-chain bridge in the future to add scalability for connection with Layer 2 or compatibility with other networks such as Ethereum, Binance Smart Chain, and Polygon.
The agricultural harvest has been sublimated into NFT incineration in the project. This is one of the mechanisms that work to increase the usage, transaction speed, and fee efficiency of the blockchain network.
You can use $Till tokens as a currency to purchase a product called Crops NFT. You can purchase, hold, issue, and stake Crops NFT and receive the corresponding crop or the corresponding crop delivered to your home. In the process of issuing and staking NFTs, you will receive an appreciation for directly growing crops, and at the same time, you will be able to naturally learn information about the crops and methods for growing them, and increase your understanding of crops.
Along with food shortages, the earth is suffering from war, famine, and climate problems. In addition, in the case of eco-friendly and simple crops at home, more and more people are growing and using them in their daily lives. In line with this trend of the times, Tillage decided that it would be faster and easier to contribute to the convergence of technology and agriculture by connecting NFT, which is a hot potato these days, to actually cultivate crops and deliver them to people.
Crops NFT and $TILL tokens were developed to increase the efficiency in terms of usability of NFTs that are connected to the real world and contain information and value, and FT, the existing cryptocurrency. Crops NFT will contain metadata such as characteristics and information of each crop, how it is grown, and its value is measured in $TILL tokens, which naturally protects its value. Information from NFTs will increase people’s understanding of crops, and for crops of special value or scarcity, naturally, many people will want them according to the economic laws of supply and demand.