What Is Tangible (TNGBL)?
Upon launch, anyone can head to https://www.tangible.store/ and lock their TNGBL tokens for a period of up to four years. You receive a multiplier based on the length of lock you choose. When you lock your tokens, you receive a 3,3+ NFT that represents your position, and also allows you to claim TNGBL and USDC rewards. The longer you lock your tokens, the higher your multiplier. Tangible very highest multipliers, though, will be available immediately after launch. The early participants, who are taking on the most risk, will be rewarded the most.
The multipliers are only available until the total supply, which includes all future rewards from 3,3+ NFTs, has been reached. So minting new 3,3+ NFTs with a multiplier is limited to the time when the max supply of tokens has not been exceeded. Although the initially-staked $TNGBL tokens are locked for a certain period of time, any NFT that has the TNGBL tokens attached can be sold on the TangibleDAO 3,3+ NFT marketplace.
This will create a secondary market for 3,3+ NFTs, which will allow long-term stakers to exit their position without causing any sell pressure on the underlying token. Although the initial tokens are locked until the end of the selected lock-period, a portion of the multiplier rewards are available for claiming, per block. That portion of claimable rewards will grow as the end of the lock period nears. You can also claim a portion of the locked rewards early, in exchange for a reduction in multiplier.
Tangible Storage Key Points
| Coin Basic | Information |
|---|---|
| Coin Name | Tangible |
| Short Name | TNGBL |
| Circulating Supply | 32,545,229.97 TNGBL |
| Total Supply | 33,333,333 |
| Source Code | Click Here To View Source Code |
| Explorers | Click Here To View Explorers |
| Twitter Page | Click Here To Visit Twitter Group |
| Whitepaper | Click Here To View |
| Support | 24/7 |
| Official Project Website | Click Here To Visit Project Website |
USDC rewards
All protocol fees accrue to token holders, and 66% are available to claim by 3,3+ NFT holders. The amount each 3,3+ NFT entitles you to claim is proportional to the max claimable amount in that NFT, and the total max claimable of all NFTs. That means that if you claim some TNGBL rewards from your 3,3+ NFT, and no-one else does, then your portion of the future USDC rewards will decrease. Locking your Tangible tokens will allow users to lay claim to current and future potential revenues. Longer lockups result in a larger claim on future revenues due to the multiplier. Once the max supply is reached 3,3+ NFTs can still be minted with no multiplier and with a minimum lock period of 2 months to access USDC rewards.
Early User Rewards
Each time a new product is minted and sold on the Tangible Marketplace, a portion of the sale is used to purchase TNGBL tokens, which are then attached to the TNFT. These tokens are locked for the entirety of the initially-purchased storage period, creating an “early user” TNFT, which uses the same multipliers as 3,3+ NFTs. These early user TNFTs are only available until the max supply is reached. This mechanism is designed to reward the platform’s early users, allowing them to perpetually claim a portion of the marketplace revenue providing they leave the TNGBL rewards locked.
Early user rewards are compatible with fractions, i.e if you split your TNFT the fractions will continue to receive rewards. To determine the NFT’s multiplier, two components are considered base multiplier and period multiplier. Base multiplier starts off at 25, dropping to 15 over the first 5 days, then decaying linearly to 5 at the end of the 4 year period. The period component is a decaying term, providing a higher premium when a longer look-up is used. Thus, locking in on the first day for the whole period of 4 years gives the full base multiplier reward.
Locking up for a shorter period gives a discount on the base multiplier. For example, locking up for 2 years instead of 4 years gives a quarter of the base multiplier available on the day. These two effects combined give the multiplier plot which can be seen above. Note that after 32 months, the multiplier drops to 1, i.e. the break even amount. This encourages earlier lock-ups, at a higher multiplier.
Technical
In building a protocol with the potential for lasting, long-term success, Tangible understood that choosing the correct chain to build on was an important decision. The obvious answer was to leverage the network effects of the Ethereum ecosystem in order to maximize your reach. However, in offering fractionalized assets in your marketplace, they also needed a solution where the NFTs being traded were not outpriced by the gas required to process those transactions. They ultimately made the decision to build the marketplace on Polygon, which they believe offers the best of Ethereum, with easy network onramps and without the downsides of transaction costs on the ETH mainnet.
The physical assets sold in your marketplace are provided by partner suppliers, they don’t inventory them directly and instead pass those costs through when a TNFT is minted. As such, they needed a crypto-native payment platform that seamlessly integrated with the inventory management system of your partners while also removing exposure to crypto volatility. By leveraging USDC, they could build entirely within the crypto ecosystem, keeping necessary funds on-chain, with simple tools to off-ramp supplier payments still operating on fiat.
Oracles were one of the biggest challenges they had to resolve. Tangible needed to map each item back to its market price from your suppliers, fitting within the limitation of the Polygon block size. Further complicating this was the variety of products in your marketplace. At launch, they will have multiple suppliers of different assets, and within each of those assets, different permutations.
