TEA Project Monthly Report — September 1, 2022

Epoch 10.1 Begins

  • Token economy: contestants will notice a new 1T temporary gas fee charge for layer2 transactions. This will be used to simulate consume actions into the TAppStore, in turn paying out to the memory tax (which is the revenue pool for state maintainer seat holders) and the TAppStore’s Global token [the Global token was deprecated starting in Epoch 11].
  • The Harberger Tax paid by state maintainers will increase from 1 to 7%. Together with a decrease in the number of seats available, we hope to see an increase in seat transfers as the seat license market becomes more competitive in the face of a rise in both revenue (memory tax) and expenses (Harberger Tax).
  • Leaderboard: we’re now tracking the net increase in assets for each contestant starting with Epoch 10.1. This will allow newcomers to compete on a level playing field with other contestants rolling over assets from previous epochs. The #1 finisher at the end of Epoch 10.1 will receive a 100 COFFEE reward (equivalent to 100 USDT).
  • Layer2: Contestants can now transfer TEA to each other through our layer2. This represents another milestone as we continue to move more business logic from our current Substrate-based layer1 to our layer2.
  • Registration: we’re now requiring contestants to provide their ETH addresses when signing up for the leaderboard. This is so we can associate ETH addresses with Polkadot addresses for when we finally rollover assets to Ethereum. This movement to the Ethereum blockchain will be a huge milestone and is coming soon with Epoch 11 just around the corner.

We Welcome a New Programmer to the Team




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