On June 26, 2024, Roam hosted an X Space with two special speakers: Jeffrey Manner and YZ, the founders of Roam, to share the latest news about the Token Generation Event (TGE) and Roam’s future plans.
This recap will summarize and highlight key information from the discussion.
Panel Discussion
Question 1: Can you explain the function of the $ROAM token and how to get it?
The role of the token itself is all about incentivization. Roam incentivizes people when they add WiFi to the network, deploy hardware in the field, and so on. $ROAM is designed to reward users who contribute to expanding the network’s growth.
Roam is different from other projects because we separate Roam Points and $ROAM. The Roam Points are internal stable points and a settlement tool for all ecosystem activities. The token is where all the value is accrued; you can imagine it as the share of the ecosystem. Points can be burned to generate tokens and vice versa, as written in the white paper. By separating these two, we ensure there isn’t unnecessary selling pressure on the tokens because if the token is used just for settlement purposes, holders will just sell it. With the burning pool, we can ensure all the value eventually accrues to the tokens.
Question 2: When is the TGE? What are the reasons for the delay in listing the $ROAM token?
The TGE is delayed due to several reasons. For a successful TGE, there are two key factors that we need to focus on: market conditions and the token listing process, which we do not have control over. Since April, the market has not been in our favor. Both the community and investors have advised us to wait and pick the best time to do the listing. The second factor is the token listing process. Because we are targeting to list on the top exchanges in the world, the checking process requires more time.
Question 3: What steps are being taken to ensure that the delay does not affect the community and investors?
As many people are worried about the dilution, we have created a clear structure to protect early participants. Firstly, the points will not depreciate because they are internal and stable. Secondly, when you burn points into tokens, you must burn them with your stickers, which indicate the time of collection. The number of tokens generated in the burning pool will also depend on the sticker you burn. We are still designing the details of the mechanism, but the interests of early participants will always be guaranteed.
Question 4: Can you provide details on the burning pool?
We reward three groups of people with tokens: miner owners, NFT owners, and validators. Each group will have their own pool. For all the points that are generated from the Roam miner, there will be a pool dedicated to that. For validators who add WiFi, and Check-In, they will have their own burning pool as well. For cloud mining operators who have NFTs, we will have an NFT staking pool to generate points. In the long term, we will also have a token staking pool where you can stake our token for additional rewards, which can be our token or tokens from partners.
Question 5: Is the conversion rate for Roam points to $ROAM the same for miners and the community? How will the ratio work?
In the Roam ecosystem, we have fixed two things: the token emission curve and the stability of the points. The token emission curve is an exponential decay curve, and you can find the formula in the white paper. The point generation is constant and done by everyone. Therefore, the conversion rate is dynamic because the amount of points and tokens generated is not fixed.
The overall conversion rate is determined by how many points are generated in a certain time frame versus how many tokens are generated in the same timeframe. If you choose to burn points at the right moment, you might get above-average returns. If you burn points at a less optimal moment, you might get below-average returns. For example: the total amount generated every second is 2400 tokens. if you are the only one in the burning pool and you burn one point, this point will get all 2400 tokens. But if 10,000 people join the pool and each burns 1 point, then you will get 0.24 tokens. Therefore, the conversion rate is dynamic and can’t be controlled.
Live Community Question
Listener 1: What is the plan for Roam NFTs?
NFT holders will have a dedicated staking pool. We are also going to issue additional NFTs. Right now, we’ve received a request from African countries and the Middle East to deploy high-quality WiFi gateways. So we’re going to use NFTs for these gateways, and people who buy them will collect rewards from it. This approach will be very useful for people who live in countries where crypto mining is forbidden, as they can simply buy NFTs instead. All the new NFTs will be issued on Solana, along with our entire migration. We are also in the process of migrating the original NFTs to Solana.
Listener 2: When will the burning pool start?
The burning pool will start right at the TGE. Normally, there will be a gap between the TGE date and the listing time. Currently, we are working with the exchange to determine that gap.
Listener 3: Will the Roam token be available only on Solana or on other chains as well?
The token will be on Solana natively. In the future, we could wrap it and bring it into other ecosystems. But our project is fundamentally based on Solana.
