Arbitrary Deposits & TYPH Token Updates

Last week we launched a new feature on mainnet that allows users to deposit arbitrary amounts outside of the few options we provided. This also changes the TYPH tokenomics — Here’s how it works and what this means for the TYPH token

Easy Deposit explained

How it works

The new autosplit dialog

The user will receive a text file that includes all of the notes that have been generated as a result of this in one batch.

Easy Deposit costs TYPH

The following cases do not cost TYPH:

  • Sending of TYPH directly
  • Sending only 1 deposit, such as 1BNB, 10BNB, etc.
  • TYPH fees resulting from using this feature will be burnt immediately and removed from total supply.

TYPH is now a deflationary utility token

Easy Deposit is just the first feature that follows our vision of positioning TYPH as the utility token for accessing advanced features on Typhoon. Casual and day-to-day users can keep using the standard functionality as is, with more convenience features requiring the use of TYPH.

Project TYPH supply lock

We announced that we would deploy vesting- and timelock contracts to lock all of the tokens the project has access to, and as of 6/22, most of the tokens have been successfully locked behind 1 year linear lock contracts.

This means these tokens are now inaccessible until properly vested.

The timelock contracts for the remaining tokens have been finished, but are still under active QA testing before getting deployed.

An overview with all project wallets and token-lock contracts is available in our docs at https://docs.typhoon.network/tokenomics/project-token-wallets

Next Up

Have you used the new Easy Deposit feature yet? What did you think about it?

Let us know your thoughts

Website: https://typhoon.network/

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Enabling private transactions on top of Binance Smart Chain — https://typhoon.network/