Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

After a Successful IDO, TOMI Token is off to a Flying Start

CryptocurrencySep 24, 2021 02:30AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
After a Successful IDO, TOMI Token is off to a Flying Start

Investors have shown a keen interest in the TOMI token since the team decided to launch presale access through an NFT collection. That NFT collection helped bring in funds for the team to reduce its TOMI token supply after the sale. Investors in the presale are looking at a 56,655% increase in value over the past 24 hours, confirming the project's success.

The TOMI IDO Is A Huge Success
The Tomi team took an unusual approach to launch its token presale. Instead of doing it in one round, the team opted for three different rounds, each with slightly different pricing dictated by the market. Every TOMI round lasted for 30 minutes, making it a very brief presale window. Trading occurred on the SushiSwap platform on Polygon, as it provides faster transactions and much lower fees.

Initial interest has proven successful, as the TOMI token currently notes 485 holders, per DEXTools. As presale investors scooped up their share of TOMI tokens, it didn't take long for all three rounds to sell out. Moreover, the team allocated 750 million TOMI to the SushiSwap pool initially. Today, that number sits at 4.922 million, confirming users are happy to acquire the token and pool it immediately for liquidity rewards. The overall daily volume for this pool is over $8.4 million, indicating there is a very solid demand for TOMI..

What investors will be mainly interested in is figuring out whether they made the right investors. However, as the TOMI pool on SushiSwap notes 5,539 transactions to date, it is impressive to see the ROI remain at over 54,600%. That is a substantial return on investment and one that will undoubtedly make many contributors happy. It is an overwhelming success, both the TOMI IDO and the subsequent trading of the token itself.

Additionally, the Tomi heroes NFT collection concluded at over 450 Ether in trading volume. All proceeds from those sales has been used by the Tomi team to buy TOMI and burned it forever, reducing the overall supply. The burn transaction occurred through address 0x000000000000000000000000000000000000dead , making it easy for everyone to monitor this process occurs and how many tokens have been destroyed forever.

Liquidity Renouncement
Per a recent announcement, the Tomi team decided to let the community handle how the liquidity across decentralized exchanges is used and distributed. All the liquidity from SushiSwap has been put into the master address. Additionally, all 600 ETH that was in the liquidity pool has been used to purchase TOMI and increase the token’s native value.

All of the gathered TOMI tokens will be used to help foster community growth and engagement - and this development represents a HUGE step forward for the project - and now, the team explores new options to launch several community-oriented activities, including staking rewards, airdrops, and more. Now that Tomi’s liquidity is in the hands of the community, the team will be able to focus on development and community growth. TOMI will soon realise its dream of being a project for the people, by the people.

Future Outlook For Tomi
The successful NFT sales and IDO sales are just the first steps for the Tomi team. After that, a lot of development activity focuses on rolling out the broader ecosystem. Not only will Tomi's solution bring value to TOMI holders, but it will also help transform the DeFi and cryptocurrency ecosystem for the better. Providing a path to wealth for all individuals is crucial to the team's vision. The only way to make that happen is by building a solid community and the necessary tools to facilitate such actions.

The first project to look forward to is TOMISwap, launching in October 2021. Users can exchange assets across multiple blockchains at a high transaction throughput and very low fees as a decentralized exchange and swapping platform. It is built on Ethereum but will not suffer from high gas usage after its goals have been realized. The team is capping all transaction fees at 0.3% of the amount. Those fees will be split as follows:

  • 66.6% will go to liquidity providers
  • 16.6% goes to governance token stakers
  • 8.3% goes to TOMISwap user giveaways
  • 8.3% is used for TOMIFundMe
That brings us to TOMIFundMe, the second pillar of this ecosystem. TOMIFundMe will help foster business ideas through voting by the TOMI holders. Projects deemed eligible for a grant can receive financial support through the 8.3% transaction fee split by TOMISwap. Thus, witnessing the development of next-generation blockchain projects and services will be accessible to everyone holding TOMI in their wallets.

October will be a busy month for Tomi, as the launch of TOMISwap is just one facet of the roadmap. The team will also introduce TOMI staking, creating another incentive for users to hold their TOMI tokens. TomiFundMe will see a Q1 2022 release, followed by Tomi's native blockchain launch in Q3 2022.

To find out more, visit the TOMI website at https://www.tomitoken.org/main.html

Continue reading on BTC Peers

After a Successful IDO, TOMI Token is off to a Flying Start
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email