In China, the oldest and most famed social networking platform has launched its crypto token in an apparent Bid to promote less user activity.
The proclaimed on Wednesday by the internet forum Tianya Club who founded in 1999. Tinanya token (TYT) will launch blockchain based on 8 Aug as a way to reward original content contributions and participation in community activities.
After hard work, the company has made a token of 90 billion. According to Tianya reserved a 20% token in its 90 billion tokens for its operational team and 80 tokens will dispense to community members. But so far it has not disclosed which platform has created its blockchain, Neither, they clear that TYT will be tradable on third party exchanges and How will its value be determined?
The purpose of this step is to revive the money coming from the decline in the community by internet forum.
“Tianya (TYT) launch seems to be promoting non-blockchain token of the firm” – Tianya Diamond –which was launched by the firm in late 2017, a few months after China explicitly banned companies from soliciting Chinese residents over blockchain-related tokens.
Those users who hold a fixed amount of Tianya Diamonds they can get a TYT token through participating in some community activities as moderating threads, declare in announcement.
The Website of Tianya clubs ranking fallen down from the china’s 11 most visit website in 2015 to the 24th currently, according to Alexa (data traffic site). Likely, due to competition from other social networks including search giant Baidu’s rival service, Baidu Tieba.