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Teia Begins Distribution of Its DAO Tokens to Community Members

Marking a significant milestone in Teia’s journey, the NFT marketplace, known for pioneering a new era of community-driven platforms, has begun its Teia DAO Token distribution.

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The Tezos blockchain has witnessed numerous breakthroughs, but none quite as revolutionary as Teia, the community-owned evolution of the Tezos NFT marketplace Hic et Nunc.

Teia is not just a continuation but a vivid transformation from its predecessor, representing the essence of collective ownership and the decentralized fabric of the Tezos network.

From Hic et Nunc to Teia: A Legacy of Collaborative Innovation

Teia stands as a testament to the power of collective ownership and decentralized evolution on the Tezos blockchain. Emerging from the pioneering foundations of the NFT marketplace Hic et Nunc, Teia embodies the spirit of collaborative innovation.

Teia’s journey isn’t just a tech evolution; it’s a testament to community involvement and a shared dream.

Teia’s New Dawn: Unveiling the Teia DAO Token Distribution

Marking a significant milestone in Teia’s journey, the NFT marketplace, known for pioneering a new era of community-driven platforms, has begun its Teia DAO Token distribution.

Teia’s Distribution Announcement

As a non-profit, open-source online platform, Teia’s primary objective has always been to provide a sustainable, accessible, and inclusive space for artists and collectors worldwide.

The distribution of its Governance Tokens reaffirms Teia’s commitment to decentralized governance and its ethos of sustainability.

Eligible Tezos wallets can now embark on the journey to claim their share of the fixed total supply of 8 million TEIA tokens, based on an on-chain vote by the community.

These tokens aren’t just digital assets; they signify an integral part of the platform’s governance structure.

The distribution process is deeply rooted in the principles of equity and community contributions, making Teia a beacon for artists and collectors who value transparency and communal governance.

Key Points from the Announcement:

  • Distribution Duration: Teia’s community members can claim the Teia DAO tokens from today until November 20th. Claims can be made on their official website: teia.art/claim.
  • Total Supply: An on-chain vote by the community determined that the total fixed supply of Teia DAO Tokens will be 8 million.
  • Eligibility: Eligible Tezos wallets have been invited to claim their tokens and will soon be able to participate in the development and workings of Teia DAO. Over 23,000 eligible wallets are each qualified for at least one TEIA token.
  • Token Distribution Criteria: Tokens will be distributed based on the wallet’s activity and contributions to both Teia and HEN, with hDAO token holders being rewarded on a 1:1 basis. After the claim period, any unclaimed supply will be stored in the treasury for future distributions.
  • Governance Structure: Once the distribution is completed, Teia plans to initiate its DAO beta phase, making use of the DAO contracts for proposal voting. Post the beta phase, full ownership of Teia will be handed over to the DAO contracts.
  • Token Use: It’s essential to note that Teia DAO tokens are intended purely for governance.

Teia’s Road Ahead: Governance, Sustainability, and Transparency

As the DAO token distribution commences, Teia is all set to launch its DAO beta phase. This phase aims to utilize DAO contracts for a vote-based decision-making process on various proposals, thereby solidifying community involvement in shaping Teia’s future.

With a clear roadmap in place, Teia continues to march towards its goal of being the first fully open-sourced, community-owned art platform on Tezos. However, with great power comes great responsibility. Teia’s community has reiterated that the Teia DAO tokens are to be used exclusively for governance and operational decision-making

From its origins in Hic et Nunc, Teia has always been about more than just technology. It’s about people, art, and the shared vision of a decentralized future. As Teia charts its course forward, the platform stands as a testament to the collective power of a community and the boundless possibilities of decentralized governance.

For those seeking a deeper dive into Teia’s developments or wishing to be part of this groundbreaking journey, Teia’s official documentation and blog serve as a comprehensive resource.

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Disclaimer

Nature of Content: All content published on https://xtz.news, whether written, auditory, or visual, is for informational purposes only. Opinions expressed therein are solely those of the individual authors and do not reflect the views of XTZNews or its management.

Not Financial Advice: No content on this website constitutes investment, financial, legal, or tax advice. Users should not construe any such information as a recommendation to buy, sell, or hold any investment or security or to pursue any particular investment strategy.

Accuracy and Completeness: While XTZNews makes every effort to ensure the accuracy and reliability of information, we do not warrant or guarantee the timeliness, completeness, or accuracy of the information presented. The website may contain errors, omissions, or inaccuracies. We disclaim all warranties, both express and implied, regarding the information, including but not limited to, any warranty of merchantability or fitness for a particular purpose.

Endorsements: References to specific entities, products, services, processes, or other information does not constitute or imply endorsement, sponsorship, or recommendation by XTZNews. Blockchain technology is in a developmental phase, and the engagement with the technology and its associated entities carries inherent risks.

User’s Responsibility: Users are encouraged to conduct their own research and due diligence and to seek the advice of qualified professionals before making any investment or decisions related to content on this site. Engaging with blockchain technology, cryptocurrencies, and associated applications should be undertaken with caution, understanding the inherent risks involved.

Limitation of Liability: Under no circumstances will XTZNews or its affiliates, partners, officers, directors, employees, shareholders, agents, or licensors be liable for any direct, indirect, incidental, special, consequential, or punitive damages, including without limitation, loss of profits, data, use, goodwill, or other intangible losses, resulting from (i) your access to or use of or inability to access or use the site; (ii) any content obtained from the site; or (iii) unauthorized access, use, or alteration of your transmissions or content, whether based on warranty, contract, tort (including negligence), or any other legal theory, whether or not we have been informed of the possibility of such damage, and even if a remedy set forth herein is found to have failed its essential purpose.

Seek Independent Advice: Before undertaking any financial investments, potential investors are advised to seek guidance from independent financial, legal, and tax professionals.

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