TET TOKENOMICS

In order to mint or create a SoftNote product, the Tectum Token (TET) token must be used through a smart contract mechanism regardless of the currency of the SoftNote.

TET Source

The TET token is sourced from the Tectum blockchain and, when applied thereto, has the capacity to mint SoftNote Bills; the TET token is a mint token and thus is the only way to mint SoftNote Bills. Moreover, all products offered by Tectum have the Tectum blockchain as their native network.

Release Mechanism

TET is a fixed release token with a Hard Cap of 10 million TET. TET was initially released by Tectum in their presale and hosted on their website: www.tectum.io. It is then planned to be released on a centralised exchange in 2023.

TET As A Utility Token

TET has been designed to control the process of the creation or minting of SoftNote bills. Such bills can only be minted by the utilisation of TET. The SoftNote bill minting process is conducted via Tectum as a company or the SoftNote wallet apps and by swapping TET for a pack of 100 SoftNotes bills. The user is then registered on the Tectum blockchain as the minter of those specific SoftNote bills. TET, therefore, has also functioned as a fundraising mechanism to facilitate the development of the SoftNote payment system. This has been accomplished through Tectum’s token presale and future exchange listings.

Re-circulation Release Mechanism

Once a TET has been utilised for minting or emission purposes by a user to create SoftNote bills, that specific TET can then be re-released to the market by Tectum. This re-release mechanism functions on a formula that responds to market demand. Therefore, the TET released is equivocal to enable or encourage the further minting of SoftNote bills so as to meet the extent of demand for SoftNote bills on the market at that particular point in time. Therefore, TET has the capacity to rotate cyclically when concerning its utility of purchasing SoftNotes on the Tectum network.

TET Token Categorical Classification

Although it previously has been advocated that any coin or token that is founded on a native blockchain should be regarded as a coin, it is the conviction of this paper that such a conclusion is technically inaccurate concerning traditional blockchain definitions. Traditional definitions stipulate that a blockchain can only consist of one true coin and all assets further to this, built on the same blockchain should be considered tokens (Subburaj, 2022). Furthermore, regarding these assets, when built on the same blockchain, the one to which the classification of the coin is ascribed is determined chronologically and functionally. The first asset on the blockchain to function as the medium by which fees are paid by further assets or projects is considered the ‘native coin’ (Michael, 2021). Concerning the tectum blockchain, TEC (Tectum Enumeration Coin) was created first for the purpose of fee processing. TET was a latter addition and functions as a tradable token inclusive of smart contract capacities to control its use and processing. Therefore, TEC is considered the coin representing the Tectum blockchain and TET is categorized as a tradable token relating to the blockchain.

TET Token Legal Classification

TET utility functions as an avenue to mint SoftNote bills, a SoftNote bill is merely a product of the Tectum blockchain. They do not represent or constitute a legal shareholding or equity ownership of CrispMind, or any related business entity, nor does the TET token itself.

CorpGov Law Havard (2018) defines a utility token as a digital asset sold ‘to be used to purchase a good or service available through the network on which it was created’. Such a definition can be accurately assigned to the functioning of the TET token as it is being sold from the company that owns the network (Tectum) on which it was created (the Tecum Blockchain) to enable users to purchase a product (SoftNote bills) which also function on the network which TET was created.

A SoftNote cannot be considered a security asset as when it is unfilled by finances, it represents no intrinsic value. Although it has the capacity to produce value, such is only manifest when a currency is applied to it. Therefore, it functions for all definitional purposes as a true product.

Finally, the non-security nature of TET is supported by the fact that its profit generation has no direct or correlative connection with the success of Tectum or the SoftNote system (Ometoruwa, 2021). In fact, it is foreseeable that TET may have the same price even as SoftNote utilization or the value of CrispMind increases by multiples due to the re-circulation concept detailed above. This meets the clauses of a non-security asset as defined by an ‘AP’s influence on the profit of an asset’ within the Howey Analysis (SEC GOV, 2019). Furthermore, regardless of the extent or amount of ownership a user has of TET or SoftNote bills, they are in no capacity granted voting rights within CrispMind LTD (SphereInc, 2021).

Intellectual Property

All intellectual property relating to Tectum, the SoftNote system and TET belong to CrispMind Ltd, Chicago, IL. CrispMind was founded in 2019 by Alex Guseff and specialises in cutting-edge Fin-tech, cybersecurity, distributed ledger protocols & mobile application development.

TRACTION

As of Q4, 2022, more than:

• 40,000+ users have opened a Tectum Account
• 3,790,000 TET has been sold
• 26,000($78,000) TET has been spent Minting SoftNotes by users
• 800,000+ SoftNote Bills have been minted by users

Revenue Generation

• TET generated from SoftNote Minting and Liquidity providing fees.
• Advertising: SoftNote bills are webpages, which can host ads