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torum

Torum, what is that? Explanation, course, forecast and everything you need to know about XTM

We are online most of the day and spent a long time on the social media, often without any purpose. But what if you could earn crypto while you just keep scrolling on social media? Torum’s platform makes this possible thanks to SocialFi. Users of the decentralized social media platform earn XTM tokens for posting and sharing information. The emphasis is on crypto enthusiasts who can talk about different protocols together and thus gain more knowledge and experience. Discover the platform of Torum, the pioneer in the development of SocialFi, here.

 

What is Torum (XTM)?

Torum (XTM) is a revolutionary SocialFi Metaverse ecosystem that connects crypto enthusiasts thanks to its interactive social media platform. Torum already has more than 200,000 users worldwide. This decentralized community platform is the foundation of the entire ecosystem. Subsequently, it is further expanded to include all popular protocols ranging from NFTs to DeFi to the Metaverse. Torum aims to be an all-around platform that connects SocialFi with all the other facets crypto has to offer. They call themselves the pioneer in SocialFi metaverse.

Major investors like Kucoin Labs also believe that this is the future of online communities. In a data-driven society where central organizations earn billions thanks to the sale of our data to third parties, it is time that we migrate the concept of social media to a decentralized environment in which every user has control over his data again. All this thanks to blockchain technology!

SocialFi

Some argue that SocialFi is becoming the new trend in the blockchain world, following DeFi, NFTs, and even GameFi. SocialFi is the trend that comes from the composition of social and financial. With this, they refer to the combination of a social network with financial applications, this on the decentralized network of the blockchain.

Torum ecosystem

In the development of web 2.0, it is mainly the large and also central community platforms such as Facebook and Instagram that manage the data of all users themselves. They use this data with the aim of generating as much revenue as possible for the platform itself, without the user benefiting from it. Think of targeted advertising or creating a certain algorithm based on your behavior. This is what SocialFi wants to change. They will collect data thanks to the use of blockchain technology. In this way, all data of the users is transparent and immutable and no longer in the hands of large central parties.

In general, these platforms make money by selling ads based on the number of users and traffic. They receive billions in advertising revenue for this, while the user is only allowed to use the platform without getting any financial reward for it. SocialFi projects strive to find ways to enable users to monetize their own social channels. They can do this by using social tokens. We already know the use of social tokens, but often this is rather limited. At Torum, the native token XTM is used to realize an entire ecosystem ranging from DeFi to NFTs to cross-chain functionalities.

How does Torum (XTM) work?

We scroll aimlessly on Facebook and Instagram for hours every day, this is wasted time that we will never get back. But what if you were rewarded for being active on social media? Torum has a user-friendly interface, similar to that of Facebook, on which you can share all kinds of content. In essence, the focus is on crypto, but anyone can share whatever they want.

Thanks to Forum’s platform, you can participate in various challenges to earn XTM tokens. This is how you earn XTM tokens by regularly sharing content and interacting with others on the platform. You earn tokens by participating in daily and weekly challenges. This can be, for example, participating in a live stream, sharing certain content, or simply responding to at least 5 messages. Do you want to boost your post extra afterward? Paying XTM tokens will give your post a wider reach! But Torum is much more than that. Let’s take a look at what the diverse platform has to offer.

News

Torum has a crypto news board that keeps you informed of the latest crypto news. You can filter here on different categories such as Bitcoin, but also the Binance Smart Chain, Polkadot Chain and NFT. As a result, users will automatically spend more time on the platform to stay abreast of the latest developments. You can then share this information, by the way, all from Cointelegraph, on your own channel for which you will receive XTM tokens again.

XTM dashboard

Airdrop

What could be better than earning crypto for free? Airdrops remain popular because you might get free hidden gems here. Built into Torum’s platform, you can participate in various airdrops. For this, you only have to complete certain tasks, such as following a Twitter account or retweeting a certain post. You will not only receive XTM tokens for this but also free crypto thanks to the airdrop.

DeFi

As a SocialFi Metaverse ecosystem, the DeFi component cannot be missed. Thanks to the integration with your Metamask wallet, you can add your earned XTM to a liquidity pool. This pool with the trading pair XTM/ BNB is located on PancakeSwap, but as a reward, you will receive LP tokens for this. You can stake these on Torum Finance to compound your rewards. The team is working on no fewer than three power-up multipliers that will be launched soon.

But thanks to Torum Finance you can also farm your NFTs for which you receive between 5% and 25% APY. The platform also has a built-in cross-chain bridge where you can trade XTM tokens between 3 different blockchains:

  • Ethereum
  • HECO chain
  • Binance Smart Chain (BSC)

NFTs

Torum has a built-in NFT marketplace where you can search for unique NFTs. These unique tokens are garments for your avatar in the metaverse. For example, the team has integrated garments from the popular Squid-Game series. There are no less than 456 green jumpsuits for sale, one for every participant of Squid Game. Would you rather be a guard? Or the murderous doll? For each character in the series, there is an outfit that your avatar can wear in the metaverse. These NFTs are bought and traded based on the native token $XTM.

$XTM

The native token $XTM is the engine behind the entire ecosystem. It is used as currency that facilitates all traffic. For example, users are rewarded for their social activities with the token, but they can also use it to boost their content or pay for advertising campaigns. In addition, all NFTs are exclusively traded in XTM tokens and you can also vote with your XTM token, which makes this a governance token in addition to a utility token.

Below is an overview of how the XTM token keeps the entire ecosystem running:

XTM flow

Tokenomics

Due to the cross-chain interoperability, $XTM can be an ERC20 token as well as HECO, as well as a BEP20 token. It has a total supply of 800,000,000 tokens and is distributed as follows:

  • Marketing: 12.5%
  • Reserve: 10.33%
  • Ecosystem: 22.5%
  • Liquidity provider: 10%
  • Advisors: 10%
  • Team: 20%

The remaining tokens were used to gradually release them during pre-sales and private rounds. At the start of the Genesis block, the team has a 48-month token emission schedule, with more tokens released each month. After this 48-month timeframe, all tokens will be released.

XTM utility

Roadmap

The team had a very ambitious roadmap when it started in 2020. They have already managed to realize a lot of this. This includes the expansion of the ecosystem to the Binance Smart Chain and HECO, as well as the development of the DeFi platform and the NFT marketplace. In a short time, they have managed to bind more than 200,000 users to the new Torum platform. Despite their official roadmap only going until the end of 2021, there are still a number of developments that will take place in the first quarter of 2022.

Torum Lounge

In the past, we saw the popular Clubhouse application, where you as a user could participate in an audio conversation. This Torum Lounge is similar. It is an audio board room with interactive live streaming in which you can participate. You can give the speakers rewards, send emojis, and more. Therefore, this platform is perfect for holding real-time AMAs of new projects, as well as for sharing and discussing crypto-related podcasts, meetups and even conducting online conferences. Every spoken word will be automatically converted to written text so that the community can decide how they want to participate, via audio or via text.

Mobile App

Currently, Torum only works via the desktop version, but the team has announced that they will soon be launching their own mobile application. Of course, it has the same functionalities, but from then on users can share their content, swap their tokens and participate in airdrops at any time of the day, all via their mobile.

Team

The team consists of more than 38 members from all over the world. From Malaysia to Nigeria to New Zealand. They have a distinction here between the operational team and the technical team. Due to the great diversity of the platform and the ambitious plans, it is necessary to have sufficient knowledge and expertise to allow Torum to grow further.

Go is the CEO and Front-End Developer of Torum. With a bachelor’s degree in Finance, he came into contact with crypto quite early. In November 2017 he launched Cryptopedia and in 2020 he even became Head of Communications at ACCESS Blockchain Association Malaysia, where he still works. Go calls itself an online content creator and crypto influencer. Go now uses this knowledge and expertise to grow Torum as a leading protocol in the further development of SocialFi.

Jayson Tan is CMO and Head of Social Media Community. His background is very similar to that of founder Go. Jayson also sent Finance and started his adventure at Cryptopedia where he was co-founder and content editor. Together they made the move to ACCESS Blockchain Association Malaysia where Jayson is Head of Community. He is also still active here, in addition to his dedication to Torum.

XTM team

Alwin Chang is, among other things, User Experience Designer and has a great responsibility in this regard. In addition to the implementation and realization of blockchain technology, user-friendliness is essential. His LinkedIn contains less information but does show us that he started at Torum as a Project Manager and has thus managed to promote himself to UX designer.

Conclusion

We can no longer imagine life without Facebook or Instagram where we stay connected to the rest of the world. We are usually digitally connected to people with similar interests to stay informed of the latest developments. But Facebook has often been negatively in the news in the past because it would misuse our data. Data is therefore the new gold in a society in which everyone is online.

Torum wants to use the advantage of these online platforms to connect crypto enthusiasts and share all their knowledge and questions with like-minded people. And not only that, by using the decentralized platform, you earn XTM tokens just like that. These tokens are the backbone of the entire ecosystem and make everything possible. This way you can use these rewards to buy NFTs or to add liquidity. Or simply to boost your post in the network.

Thanks to blockchain technology, we see that there is a certain awareness of the importance of our data in the current economy and how we can do this differently. Fewer and fewer people are active on social media for this reason. By offering a platform like Torum in a decentralized environment, users regain control of their own data. Torum’s highly diverse platform connects all the possibilities of crypto in one unique platform. And it is therefore not surprising that large investors are involved in the growth of Torum. None other than KuCoin Labs and Huobi Ventures believe in Torum’s SocialFi protocol that they decided to invest in.

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