TENKA Token Usage Flow
The native cryptographically-secured fungible protocol token of Ignite Tournaments (ticker symbol TENKA) is a transferable representation of attributed governance and utility functions specified in the protocol/code of Ignite Tournaments, and is the main driving force behind Ignite Tournament's digital economy.
TENKA is a functional multi-utility token which will be used as the medium of exchange between participants on Ignite Tournaments in a decentralized manner. The goal of introducing TENKA is to provide a convenient and secure mode of payment and settlement between participants who interact within the ecosystem on Ignite Tournaments without any intermediaries such as centralized third party entity/institution/credit. It is not, and not intended to be, a medium of exchange accepted by the public (or a section of the public) as payment for goods or services or for the discharge of a debt; nor is it designed or intended to be used by any person as payment for any goods or services whatsoever that are not exclusively provided by the issuer. TENKA does not in any way represent any shareholding, participation, right, title, or interest in the Company, the Distributor, their respective affiliates, or any other company, enterprise or undertaking, nor will TENKA entitle token holders to any promise of fees, dividends, revenue, profits or investment returns, and are not intended to constitute securities in Singapore or any relevant jurisdiction. TENKA may only be utilized on Ignite Tournaments, and ownership of TENKA carries no rights, express or implied, other than the right to use TENKA as a means to enable usage of and interaction within Ignite Tournaments.
Further, TENKA provides the economic incentives which will be distributed to encourage users to exert efforts towards contribution and participation in the ecosystem on Ignite Tournaments, thereby creating a mutually beneficial system where every participant is fairly compensated for its efforts. TENKA is an integral and indispensable part of Ignite Tournaments, because without TENKA, there would be no incentive for users to expend resources to participate in activities or provide services for the benefit of the entire ecosystem on Ignite Tournaments. Given that additional TENKA will be awarded to a user based only on its actual usage, activity and efforts made on Ignite Tournaments and/or proportionate to the frequency and volume of transactions, users of Ignite Tournaments and/or holders of TENKA which did not actively participate will not receive any TENKA incentives.
It has multiple utilities, including means of payments, rewards, gamification and governance.
TENKA is a fungible asset with a fixed supply. It will be initially deployed as an ERC-20 token on the Moonbeam / Moonriver network. Please refer to the sections below to better understand the purpose and functionalities enabled by TENKA.