Once a talent is approved by community, they choose a branded ticker, and Talent Protocol issues their Talent Token. We call this process of pre-screening, onboarding and launching career coins: Initial Talent Offering (ITO).
Talent is rewarded with an initial supply of Talent Tokens (10%) which they can keep for themselves or distribute to their supporters. This initial supply floor ensures that talents have the ability to own a percentage of their coins at all times, with the intention of motivating talents to behave in ways consistent with the long-term value of their economy.
We restrict the talent’s ability to sell their initial coin supply with flow controls. This allows talent’s incentives to be aligned with their Talent Token holders, over the long-term.
What does it cost to launch a Career Coin?
Each talent needs to hold a minimum amount of $TAL tokens in order for Talent Protocol to mint their Talent Tokens. Talent from underprivileged backgrounds will be able to apply for a grant or exemption.
Do I need to have an existing network of people that want to invest in me?
No. Talent Protocol will showcase you to potential sponsors across the world, but you can't guarantee they will buy your Talent Tokens. Our advice is to find at least a few initial sponsors within your network that will invest early to help kickstart your economy.
Is it mandatory to define benefits and/or services for sponsors?
Yes. There's need to be some kind of utility for your Talent Token besides market trades. Talent Protocol will work with you to choose adequate benefits for you and your sponsors.
Talent is incentivized to to create additional value to their Talent Tokens. One example is offering perks for your top supporters that hold a certain amount of your coin.
What happens after launching my Career Coins?
After launching your Talent Tokens it will be important to updated your Talent Profile regularly and to maintain an active relationship with your sponsors. This can take the form of a monthly update or a quarterly stakeholder call, for example.