Chorus One announces staking support for Teritori

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November 23, 2022
5 min read
November 23, 2022
5 min read

Why we join Teritori

We are excited to announce that we have onboarded Teritori Network as validators. Teritori is a multi-chain hub aimed to link IBC and non-IBC communities, trade services and NFTs, start new projects, and expand current ones. To facilitate trade, Teritori allows users to affirm their Web3 identity & protect their reputation. The center prominently contains daily-use dApps such as an NFT launchpad, a marketplace, and social features for people and communities: Innovate, Trade, and Organize. The network will also include a DAO tooling suite, a job board, and a multichain dApp store.

Following the bull run, the Teritori team examined the ecosystem and addressed existing concerns: despite the desire to decentralize everything, most of the technologies we use on a daily basis remain centralized, resulting in scams and security vulnerabilities. Builders, on the other hand, have struggled to locate the people to execute the right job in their projects. Because the majority of our interactions are driven by community approval, protecting our identity and reputation has become critical. Teritori also plans to introduce Berty Protocol to offer a decentralized alternative to the existing Web2 communication tools we all use on a daily basis. With the transparency that’s provided in tool sharing and identity verification, Teritori seeks to solve these pain points.

Teritori is based on the Cosmos SDK chain and the governance/utility token TORI. TORI is initially very inflationary. The Teritori DAO and TORI holders will be able to vote on the blockchain’s future direction as well as the next features/dApps to be added to the ecosystem. 40% of tokens released per block will be in the form of staking incentives given to validators like Chorus One and delegators who assist to protect the chain. Validators and delegators are critical to the Teritori network’s security. At genesis, there will be 100 validators according to their stake. Additionally, Teritori is monitoring the latest developments on GNOLand in order to be among the first projects to deploy the dApps on this new ecosystem when live.

About staking on Teritori Network

Block Explorer

Chorus One node

Validating Rights: The weight of validators is determined by the amount of staking tokens bonded as collateral.

Token distribution: Similar to Bitcoin’s ‘halving’, issued Tori tokens are reduced by ⅓ every year. 200M Tori tokens were issued at mainnet genesis.

Inflation rate: 126.59%

Staking APR: 491.40%

Slashing: Pledged tokens can be slashed.

Chorus One Commission: 5%

Re-Staking: You need to withdraw rewards and re-stake them with some frequency if you want to make use of compounding returns hence, additional delegation is needed for compounding.

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