THX Token of appreciation

What is THX?

There are a million ways to show your appreciation but only one way to show you really mean it! THX. A token of appreciation.

THX is a groundbreaking ecosystem that rewards members in online communities with tokens for valuable behavior. By adding the THX currency to your platform, you'll boost the engagement of your social technology. Powered by Ethereum.

White Paper (Beta)

Our Team

THX is proudly brought to you by open source, blockchain and finance enthusiasts

THX is a spin-off from Open Social ®, an award winning open source community solution from The Netherlands. We love designing, building and leading software projects.

4 Team Members
50+ Years of combined experience
10+ Years of community building experience

Project members

Mieszko Czyzyk

Founder & CEO

Twelve years of experience as a founder and marketing. As former co-CEO of Open Social lead its funding round at a $2.3M valuation. A regular speaker at events.


Peter Polman

Founder & CTO

Eleven years experience in software development with a focus on Javascript and Solidity. Co-designed the THX ecosystem and smart contracts.


Danny de Gier, Prof.PgDip

Founder & CCO (Chief Compliance Officer)

Former Royal Bank of Scotland and Deutsche Bank. Postgraduate, Financial Crime Compliance with fifteen years of experience.


Natasha Schön

Writer

Content manager for various projects. Part of the 500 most talented under 26 in tech according to TheNextWeb and Accenture. Editor of the THX white paper.


Advisors

Peter Staal

Community Building Advisor

Co-founder and director of Bind, a leading community building service. Founder and Chair for Dutch Association for Community Management. Keynote speaker with over 10 years of community strategy experience.


Kirsten Wagenaar

Community Strategist

Co-founder of Bind, a leading community building service. Community consultant for T-Mobile and many others. Unmatched experience with community building in corporate and government settings.


Do you have any questions?

We're happy to help. Feel free to reach out with any questions regarding THX.

Contact us

FAQ

Our most commonly asked questions and answers

Browse through the FAQs listed by category. There's a good chance you'll find your answer.

1. What is blockchain?

It's a distributed ledger of transactions, providing transparency by being public, authentication via cryptographic encryption, and security by being immutable.

2. What is a cryptocurrency?

A cryptocurrency (also known as tokens or coins) is a digital currency that uses cryptography to secure and verify transactions and control the creation of new tokens.

3. What is a smart contract?

A smart contract is a computer protocol that facilitates the transfer of digital assets between parties under the agreed-upon terms or enforces the performance of a contract.

4. What is the difference between an ICO and a DAICO?

An ICO (Initial Coin Offering) uses blockchain technology to sell tokens in exchange for bitcoins or other cryptocurrencies.

In January 2018, Ethereum founder Vitalik Buterin suggested adding Decentralized Autonomous Organization (DAO) features to the current ICO model. DAICOs are more secure ICOs by creating more control for token holders over the distribution of the raised funds.

1. What is a THX token?

A token that is used to reward members in online communities for valuable and healthy behavior.

THX is an ERC20 token and can be stored in ERC20 compatible wallets. We will have an enhanced Ethereum THX wallet for inside communities where members store their tokens and view transaction data and their community characteristics.

2. Which problems does THX solve?

We've only just begun to understand how to create real value with online communities. Social technologies are struggling to achieve long-term economic sustainability because they're experiencing little member engagement, weak incentivization, and have poor reputation systems. There is, however, a solution on the horizon: THX.

3. What are the main use cases of THX?

THX is used to create value in online communities such as wikis, social forums, volunteer platforms, Q&A platforms, to name a few. It's used, for example, to encourage accurate content contribution, to motivate users to comment and share valuable content, or to ease the onboarding of new members.

The long-term vision is an open, online ecosystem of social applications and a truly sustainable online economy to fuel it.

4. How can I use the THX tokens?

THX tokens are used:

  • within an existing community to reward community members for healthy behavior.
  • to buy products or services in the community that couldn't be bought with fiat money.
  • to refund the Reward Pool to decrease membership costs.
  • to exchange for other currencies and use in the real world.
5. What is our main consensus mechanism?

Our parent chain operates with a Proof-of-Work (POW) consensus algorithm. However, in order to reduce Ethereum Gas costs, we will set up a sidechain that uses a Delegated Proof-of-Stake (DPOS) consensus algorithm for transaction verification.

DPOS is a fast, more efficient, relatively decentralized, and more flexible alternative to POW.

1. Who is THX?

THX is a spin-off from Open Social ®, an award winning open source community solution from The Netherlands. The founding team consists of former Open Social team members who have over a decade of experience in open source development and online community building, strengthened by regulatory and finance expertise.

2. What is Open Social?

Open Social is an open source community building solution with more than a thousand active installations and is one of the THX integration partners. Through Mieszko Czyzyk, former co-CEO and founder, the THX team has close ties to Open Social (formerly GoalGorilla).

A bit of history: GoalGorilla won the Dutch Interactive Awards 2015 for its work on Greenpeace Greenwire, an online community connecting a hundred thousand volunteers worldwide. It secured a seed funding round in 2016 at a $2.3M valuation and in 2019 rebranded as Open Social.

3. Where is THX located?

THX is located across a number of tech-hubs in Amsterdam, The Netherlands.

1. How can I buy THX tokens?

You can buy THX tokens during the crowdsale and they will be distributed at the end of the DAICO. The date of the DAICO is still to be determined.

2. How are the THX tokens distributed?

The THX tokens will be distributed as follows:

  • 55% Contributors
  • 25% Reserve
  • 10% Company
  • 7% Advisors
  • 2% Grants
  • 1% Bounty & Referral
3. How is the revenue from the Token Sale distributed?

The revenue from the Token Sale will be distributed as follows:

Soft Cap ($4.000.000)

  • 50% Software Development
  • 20.5% Marketing
  • 10.5% Business Development & Sales
  • 8% Holding Company
  • 5% Infrastructure
  • 2% Taxes
  • 1.5% Legal
  • 1.5% People Management
  • 1% Securit

Hard Cap ($16.000.000)

  • 53% Software Development
  • 20.5% Marketing
  • 10.5% Business Development & Sales
  • 8% Holding Company
  • 5% Infrastructure
  • 2% Taxes
  • 0.4% Legal
  • 0.4% People Management
  • 0.2% Security
4. What is the maximum supply of THX tokens?

If the hardcap is reached, the total token supply will be 800.000.000 THX (without additional bonuses).

Glossary

Our glossary contains THX white paper key terms and definitions from A-Z.

Contact us if you have any questions!

AML

Anti-money laundering is a process to prevent, detect, and report money laundering activities and terrorist financing.

Blockchain

A distributed ledger of transactions, providing transparency by being public, authentication via cryptographic encryption, and security by being immutable.

Centralized Communities

Centralized communities typically have a single organization as their most significant stakeholder.

Custom Rewards

Custom rewards suggested by community members, which need to be approved by the rest of the community before they're distributed by the Reward System API.

DAICO

Decentralized Autonomous Initial Coin Offering

Decentralized Communities

Decentralized communities are distributed member networks that are not governed by a central group.

DPOS

Delegated Proof of Stake leverages the power of stakeholder approval voting to resolve consensus issues in a fair and democratic way.

Engagement Pyramid

A graphical representation of members and their level of contribution in an online community; a disproportionate amount of contributions by a minority of members.

Ethereum

Ethereum is an open-source blockchain-based distributed computing platform and operating system featuring smart contract functionality.

Equation of Exchange

An equation to determine the total amount of utility tokens and their price (TV = PQ).

Gamification

The application of game design elements in various contexts to encourage online engagement.

GoalGorilla

An award-winning digital consultancy based in The Netherlands and the company that developed Open Social from 2016 onward. In 2019 it rebranded as Open Social.

Governed Payout Model

Community members will need to vote for delegated (trusted) members that will be responsible for approving all payouts.

Hard Cap

The maximum amount a cryptocurrency receives from investors in its (DA)Initial Coin Offering; for this project $16.000.000.

Hybrid Payout Model

Automatically suggested rewards are paid out immediately but members will have the ability to report on certain payouts.

Immediate Payout Model

The automatically suggested rewards are paid out immediately after the configured period of time.

Key Pair

A combination of a public key, a signature for each blockchain transaction, and private key, used to mathematically derive the Public Key.

KYC

Know Your Customer is a process that collects relevant information to determine the true identity of a customer and the type of activity that is "normal and expected," and to detect activity that is "unusual" for a particular customer.

Open Social

An open-source online community solution created by GoalGorilla and built on Drupal, with over a thousand active installations and the launching software client of THX.

Parent Chain

The parent chain is the Ethereum blockchain, the parent of the THX sidechain.

POW

A proof-of-work is a requirement for Miner nodes to compete to "solve a Block," or group transactions, together in (potential) chronological order and have that block accepted onto the global Blockchain of that system.

Reward Pool

The fund that holds all the tokens contributed by community members.

Side-chain

A sidechain is a separate blockchain that is attached to its parent chain and allows the movement of tokens and other digital assets.

Smart Contract

A smart contract is a computer protocol that facilitates the transfer of digital assets between parties under the agreed-upon terms or enforces the performance of a contract.

Soft Cap

The minimum amount a cryptocurrency receives from investors in its (DA)Initial Coin Offering; for this project $4.000.000.

Suggested Rewards

One-time rewards for healthy behavior or recurring rewards for picking up chores, distributed by the Reward System API.

THX

A token that is used for rewarding members in online communities with tokens for valuable and healthy behavior.

Token

An asset that represents ownership of some sort and has both financial and utility value. THX tokens are reward tokens for healthy behavior in communities.

Token Lifecycle

The series of changes or transactions that can be executed using a token.

Token Velocity

Token velocity is the ownership duration of a cryptocurrency token.

TPS

Transactions per second is a measurement that represents the number of transactions completed in one second by an information system.

UNIX Timestamps

A method used a lot in programming to describe a moment in time using the amount of seconds since the 1st of January 1970 with every day containing exactly 86400 seconds.

Wallet

An Ethereum Wallet where community members hold their private key that gives access to their tokens.

Webhook integration

A webhook is a way for an app to provide other applications with real-time information

Contact

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We're happy to help. Contact us with any questions regarding THX.

Email
[email protected]

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Media Materials

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Press Pack

Or reach out to our press contact Natasha Schön.
Email address: [email protected]
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Events

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