HISTORY OF TETHERINO
Tetherino was originally created as a parody of a famous stablecoin, as a symbol of the many controversies surroundingthe space. Backed by "commercial toilet paper" (wich is simply toilet paper with a Tetherino logo), it originally poked fun at the serious issue of stablecoin backing, and the lack of transparency and accountability in the space.
Tetherino is redeemable for its "reserves" - meaning that any TTR holder can "redeem" its tokens (buy "commercial toiletpaper" on tetherino.io) - again a way to poke fun at stablecoin issuers who never made good on their promise to establish a proper way to redeem their tokens for actual cash. Originally, the token traded only on PancakeSwap, a cheap andconvenient way to create and "list" a token so that anybody can join.
As Tetherino’s popularity grew among crypto critics and activists alike, the team behind the meme cryptocurrencyinvested ever more time into the project, which in turn fostered ever more awareness and creativity around theproject. By listing TTR tokens on established exchanges, the team made a big step towards more widespread acceptanceand liquidity, accessing a global pool of capital to finance its online presence.
Tetherino’s purpose is to foster artistic creativity and incentivize the production of cryptocultural content. By creating a framework for content distribution, properly measuring the reach of each piece of work, and using the TTR tokens to establish a prize pool for writers and digital artists, Tetherino creates a fair and open ecosystem for everyone tocontribute to the growing heritage of crypto.
Tetherino focuses on current events and promotes socially popular forms of communication, i.e. memes and satiricalposts. Its identity is that of the crypto Jester, the only character that’s allowed to speak truth to power, albeit in anentertaining way.
Tetherino’s mission is to finance the work of artists and writers who contribute to the rise of cryptoculture. This isachieved by creating new channels for distributing artistic content, and measuring the reach of each piece of artwork orsatirical content.
Tetherino offers to digital artists and writers a never-ending "Meme Challenge", where creators submit their work throughtetherino.io, and after manual validation, their work is distributed through official Tetherino accounts on socialmedia, thus accurately measuring their actual reach. Then, a weekly grant of TTR tokens is distributed to creators takingpart in the Meme Challenge, based on the social reach of their work.
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