ToshiCash and Golden Tickets
Tags: Yield Farming, Ethereum, Toshimon, Dapps, Nft

We are restructuring how yield farming works and taking steps to reduce overall circulating supply of TOSHI.

The end of ToshiCoin yields

ToshiCoin yields have ended today. What this means is that you will no longer earn ToshiCoin from staking TOSHI/ETH LP tokens, but you can still claim your existing tokens and use those to buy packs. We advise you to convert your ToshiCoin to packs now, as the only use case for ToshiCoin is to buy packs and we will eventually remove the UI on the website (although the claim function on Etherscan will always work).

ToshiCash

In the coming days we will introduce an exchangeable and tradable ERC20 token called ToshiCash that will be farmed using TOSHI/ETH LP tokens for yield. ToshiCash is similar in idea to ToshiCoin, but more universal. It will be used as a sort of utility token in the Toshimon ecosystem and allow for the purchase of some forms of packs and some exclusive “cosmetic shop” items as well as other uses as more products become available for sale upon game launch.

Please allow a few days for us to transition our smart contracts and UI to ToshiCash. We believe that a tradeable yield farming token will better serve the ecosystem. Upon launch of the ToshiDAO, vote-staked rewards will also be paid in ToshiCash.

Golden Tickets

As you know, the primary purpose of Toshimon cards is to assemble a team and use them to battle other Toshimon trainers. A quarterly Toshimon tournament will happen four times per year after launch and beta-testing of the Toshimon game is complete. For the first tournament, you will only be able to enter if you have a Golden Ticket.

The Golden ticket is an ERC1155 token that will be available for sale on our website for 10 TOSHI each in the coming weeks. Golden Tickets will cost 10 TOSHI each, and will have a supply cap of 1000 total Golden Tickets for the first tournament. Golden Tickets will only be issued for the first tournament, and will be the most rare tournament tickets. Entrance into the tournament will only require staking of the tickets and not burning, which makes them a great collectors item on top of their existing utility.

The tournament will have Ethereum prizes and NFT prizes, which should help add additional value in secondary markets.

Liquidity locking — a commitment to price stability

In total, the Toshimon Treasury is seeking to receive 10,000 TOSHI (25% of circulating supply) in exchange for 1000 total Golden Tickets. Like all TOSHI held in the Toshimon Treasury, it will be time locked and any potential sales of TOSHI will be disclosed in advance for transparency purposes. At this time the Treasury has no plans to sell any TOSHI, and there is no anticipation of a need to sell in the future.

Instead, to promote price stability, we will initiate a liquidity locking program on Uniswap funded buy a portion of card sales and revenue upon launch of the game. We believe that this will help evidence our long term commitment to the community.

OpenSea Sales Contest

Last thing — We have been watching the innovations of the community and are VERY impressed. To encourage even further innovation in the space, we will be giving away 1 NFT a month to the top NFT trader (buys and sells) by total ETH volume on our OpenSea storefront. These NFTs will be 1/1 limited editions and will change every month.