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TQF Token

Torus's native asset is called TQF. TQF serves as the fundamental utility token of the Torus platform, functioning as the lifeblood of its ecosystem.

Utility​

1. Security and Consensus: TQF tokens are used in staking, which is the process of participating in the network's consensus mechanism. Validators, who are responsible for creating new blocks and maintaining the network, must stake a certain amount of TQF tokens to participate in the network's operations. This incentivizes good behavior; malicious actors stand to lose their staked tokens if they attempt to compromise the network.

2. Transaction Fees: TQF tokens are used to pay for transaction fees on the Torus network. When users make transactions or interact with smart contracts on the Torus network, they pay fees in TQF tokens.

3. Reward Distribution: Validators and delegators are rewarded for their contributions to the network with TQF tokens. This incentivizes more users to participate in staking and validation, further securing the network.

In addition to the utility described above, TQF also represents the influence each node holds in network decisions. You can read more about how the weight of each validator is calculated here.

As mentioned in point 2, each participant aiming to process a transaction on Torus is required to pay a corresponding fee (often referred to as "gas"). These transaction fees are paid to the validators who help secure the network. However, they don't get the full amount. Here is a breakdown:

  • 70% goes to the validator
  • 30% is burnt forever