Investors have shown a keen interest in the TOMI token since the team decided to launch presale access through an NFT collection.
That NFT collection helped bring in funds for the team to reduce its TOMI token supply after the sale. Investors in the presale are looking at a 56,655% increase in value over the past 24 hours, confirming the project’s success.
The TOMI IDO is a huge success
The Tomi team took an unusual approach to launch its token presale. Instead of doing it in one round, the team opted for three different rounds, each with slightly different pricing dictated by the market. Every TOMI round lasted for 30 minutes, making it a very brief presale window. Trading occurred on the SushiSwap platform on Polygon, as it provides faster transactions and much lower fees.
Initial interest has proven successful, as the TOMI token currently notes 485 holders, per DEXTools. As presale investors scooped up their share of TOMI tokens, it didn’t take long for all three rounds to sell out. Moreover, the team allocated 750 million TOMI to the SushiSwap pool initially.
Today, that number sits at 4.922 million, confirming users are happy to acquire the token and pool it immediately for liquidity rewards. The overall daily volume for this pool is over $8.4 million, indicating there is a very solid demand for TOMI.
What investors will be mainly interested in is figuring out whether they made the right investors. However, as the TOMI pool on SushiSwap notes 5,539 transactions to date, it is impressive to see the ROI remain at over 54,600%. That is a substantial return on investment and one that will undoubtedly make many contributors happy. It is an overwhelming success, both the TOMI IDO and the subsequent trading of the token itself.
Additionally, the Tomi heroes NFT collection concluded at over 450 Ether in trading volume. All proceeds from those sales have been used by the Tomi team to buy TOMI and burned it forever, reducing the overall supply. The burn transaction occurred through this address, making it easy for everyone to monitor this process occurs and how many tokens have been destroyed forever.
Liquidity renouncement
Per a recent announcement, the Tomi team decided to let the community handle how the liquidity across decentralized exchanges is used and distributed. All the liquidity from SushiSwap has been put into the master address. Additionally, all 600 ETH that was in the liquidity pool has been used to purchase TOMI and increase the token’s native value.
All of the gathered TOMI tokens will be used to help foster community growth and engagement – and this development represents a HUGE step forward for the project – and now, the team explores new options to launch several community-oriented activities, including staking rewards, airdrops, and more. Now that Tomi’s liquidity is in the hands of the community, the team will be able to focus on development and community growth. TOMI will soon realize its dream of being a project for the people, by the people.
Future outlook for Tomi
The successful NFT sales and IDO sales are just the first steps for the Tomi team. After that, a lot of development activity focuses on rolling out the broader ecosystem. Not only will Tomi’s solution bring value to TOMI holders, but it will also help transform the DeFi and cryptocurrency ecosystem for the better.
Providing a path to wealth for all individuals is crucial to the team’s vision. The only way to make that happen is by building a solid community and the necessary tools to facilitate such actions.
The first project to look forward to is TOMISwap, launching in October 2021. Users can exchange assets across multiple blockchains at a high transaction throughput and very low fees as a decentralized exchange and swapping platform. It is built on Ethereum but will not suffer from high gas usage after its goals have been realized.
The team is capping all transaction fees at 0.3% of the amount. Those fees will be split as follows:
- 66.6% will go to liquidity providers
- 16.6% goes to governance token stakers
- 8.3% goes to TOMISwap user giveaways
- 8.3% is used for TOMIFundMe.
That brings us to TOMIFundMe, the second pillar of this ecosystem. TOMIFundMe will help foster business ideas through voting by the TOMI holders. Projects deemed eligible for a grant can receive financial support through the 8.3% transaction fee split by TOMISwap. Thus, witnessing the development of next-generation blockchain projects and services will be accessible to everyone holding TOMI in their wallets.
October will be a busy month for Tomi, as the launch of TOMISwap is just one facet of the roadmap. The team will also introduce TOMI staking, creating another incentive for users to hold their TOMI tokens. TomiFundMe will see a Q1 2022 release, followed by Tomi’s native blockchain launch in Q3 2022.
To find out more, visit the TOMI website.
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