A lot of digital assets have been issued on top of the Ethereum blockchain. The next one to make its presence felt comes in the form of tokenized donuts.
This new token will serve as the native currency of the Ethtrader subreddit.
A Token for Ethtrader Users
It is interesting to see how this group approaches the concept of tokenized assets.
Any user looking to become a part of Ethtrader can register their Ethereum address and link it to a Reddit username.
These donuts will give users access to special features on this subreddit moving forward.
While the project will see tokes issued to non-registered users as well, those tokens will become forfeit afterward.
The donuts on Ethereum will be distributed based on contributions to Ethtrader.
It is interesting to note how this project has been around for some time now.
Until now, the entire infrastructure is centralized around Reddit
However, the team aims to change that through the daonuts project.
With a two-week registration period ahead of the transition, this new token should launch officially in early December 2019.
Additional non-fungible assets can be minted by the community.
There will also be a built-in interface to buy ownable assets, including the Ethtrader banner.
This new token would also give users a “subscription” to the Ethtrader subreddit,
It also appears these donuts will be used for tipping other users on this subreddit for their contributions or comments.
Although the success of this venture remains to be determined, the overall approach is rather intriguing.
Ethereum allows anyone to create their own tokens, whether they are donuts or something else entirely.
With this approach, the new assets will have multiple use cases associated to them.
The post The Ethtrader Subreddit Prepares to Issue Donuts on Ethereum appeared first on The Merkle Hash.
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