Why Truth Seekers Might Be A Game Changer
It has been a challenging year for crypto and in particular DeFi. Many DeFi projects have collapsed or shut down. One of the big questions that many are starting to ask is where are the revenue sources coming from. I believe a lot of DeFi projects understand this and are making steps to improve in this area. The problem is that many have not yet delivered on this promise and are facing intense sell pressure due to tokenomics that are unable to withstand a bear market.
Truth Seekers Is A Real Business
There are definitely some DeFi projects that operate as a professional business but many seem more like game theory experiments performed by math wizards in their parents’ basement. This might be a bit of hyperbole but there are many projects that may as well have been slot machines. Some were just able to keep going for a bit longer than others. In response to this, I present Truth Seekers.
Truth Seekers stands out because not only have they launched a token and some NFTs but they are a genuine business. Truth Seekers are an auditing and KYC business that offer services in crypto security software, auditing, and KYC processes.
Some things immediately in the pipeline include the Seeker Wallet and the Wallet Watcher App. These are both products that I would like to have as a consumer that takes my crypto journey seriously.
The $TRUTH Token — Sustainable Tokenomics
With the $TRUTH token you will not be getting 1% a day or an unsustainably high return. The tokenomics of the project are discussed here. There is a big emphasis on making the token deflationary over time. This comes from burning a portion of the sell taxes. The $TRUTH token is also designed to be a utility token. For example, the $TRUTH token could be used to pay for the Seeker Wallet and Wallet Watcher App at a discounted price.
There Are NFTs Too
If you want to invest deeper into the business you can also get your hands on two different NFTs. There is the Truth Seekers Seed Round NFT and the Truth Seekers Presale NFT. Below is a quick overview of what utility the NFTs provide.
You can buy the seed round NFT here. The presale NFT is yet to be airdropped to those that bought at least 4000 TRUTH tokens in the pre-sale. There is also a plan to issue the Golden Truth Society NFT which will require you to burn the seed round and presale NFT. All benefits will move from the two NFTs will move over to this one. Special benefits will be added to this NFT which includes exclusive access and enhanced governance capabilities. It will be an extremely limited edition and the minting window will be short. My plan is to mint 2 Golden Truth Society NFT when they become available.
Quick Note: Farming on Kyoto Swap is on hold due to delays on the Kyoto Protocol side. However, yield farming and staking is coming soon.
Final Thoughts
At this time of year it is normal to reflect on what investments worked and what didn’t. When I reflect on my most successful investments, none of them were due to a deposit into an ROI dApp. For instance, the Hydrowhales NFT is one that has external revenue sources from Bitcoin mining but they are also building additional real world businesses. Truth Seekers has a similar approach to Hydrowhales.
None of this means that Truth Seekers is guaranteed to succeed. I already mentioned that many businesses fail in their first year. This is also not a project where you should expect to walk away with a quick buck. It will take a while for the results to come to fruition but I am willing to be patient with this one.
Disclaimer: None of what is written in this article constitutes financial advice. Investing in cryptocurrencies, and in particular decentralised finance, is high risk. What I write is not a recommendation to invest in the projects I discuss. I am not aware of your personal circumstances. Only invest what you can afford to lose. Make sure to do your own research rather than relying solely on my content.
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An Important Note
Make sure to get yourself a hardware wallet to protect your crypto. I personally prefer Trezor but the Ledger is more versatile and can be used for more cryptocurrencies. If you don’t have a hardware wallet you can get a Ledger by using my affiliate link here.
Ledger Link: https://shop.ledger.com/?r=d7b7094a37a9
Trezor Link (no affiliate commission): https://trezor.io/compare