- XRP Ledger (XRPL) is set to host a billion-dollar metaverse, the DeLux Network, as projects deployed on the network grow.
- In its 2023 roadmap, TDN would conduct a token presale in three categories – bronze, silver, and gold.
Ripple’s XRP Ledger (XRPL) has become the go-to place for most renowned crypto projects. The latest top crypto project to announce its deployment on XRPL is the DeLux Network (TDN). TDN is a new project that focuses on enabling interoperability for metaverse solutions. The idea is to permit the move of digital collectibles across different platforms, hence the decision to deploy on XRPL.
Per multiple reports, the team behind the project started interoperability design, initial partnership, business model, and NFT strategy in the second quarter of 2023. It has so far made a little progress by sealing a partnership with some top projects based on the XRPL including Lux Lions, Aftermath Islands, Primo Gardens Inc., etc. The team seeks to run a presale of the TDN token, the native utility token of the network.
On September 1, 2023, the Token’s Initial DEX Offering (IDO) would commence and would be done in three tiers. This would be launched on the Sologenic decentralized exchange.
Details of the Three Tiers of the TDN Token Presale
The tiers are labeled as bronze, silver, and gold. In the bronze tier, a unit of TDN token would go for $0.005. It is important to note that those who purchase the token in this tier would only get access after it is listed on a tier 1 crypto exchange. Once the tokens get listed, investors would only be able to redeem the NFT treasure chests and tokens after five months.
In the silver tier, the price of the token would be fixed at $0.011. Unlike the bronze tier, there would be a three-month lockup period. Within the period, tokens would not be available for trade unless 90 days after it is listed on a tier 1 exchange. In the gold tier, a TDN token would be sold for $0.023 each. Here, there would be a lock-up period of 50 days. This means investors under this section can only redeem their assets 50 days after getting listed on a tier 1 exchange.
According to the report, each tier would have its IDO sales take place simultaneously in the form of NFT treasure chests. TDN token would be interoperable between the XRPL and the Coreum blockchain.
As part of its 2023 roadmap, the team behind TDN would have the tokens listed on several centralized and decentralized exchanges in the last quarter of the year. Within that quarter, staking and NFT programs would be launched as well.
In April this year, Julia Heitner, Senior Program Manager for XRPL Grants at Ripple announced that the company is receiving applications for Wave 6, focusing on Web3 financial projects on XRPL. According to her, XRPL as an open-source, decentralized project, and an energy-efficient platform is perfect for developing financial use cases. XRPL processes 1,500 transactions per second and also settles transactions in 3-5 seconds at a cheaper cost.
XRP is currently trading at $0.512534 after falling by 2.9 percent in the last 24 hours. With a safety score of 31/100, XRP has a resistance level of $0.562333 and a support level of $0.471071.
