Hi @onealfa.leo, welcome to Torum. I noticed that you have just joined our Discord channel and landed on Torum.
First of all, thank you for raising the concern about the $1,000 minimum purchase. As a cryptocurrency user myself, I would have the same exact thought as well if I have just landed on Torum.
So, why a minimum of $1,000?
Initially, Torum is looking for supporters who genuinely believe in the future and vision that we are creating for the crypto space. It acts like a filter to helps us determine whether or not someone is serious about Torum. We are aiming for the long game here, just like how LeoFinance has in mind.
So, the team believes that $1,000 is the most balanced point for us to achieve that objective.
Is $1,000 the only way?
Truth is the team received a lot of feedback from our community about this and it does seems that the $1,000 minimum purchase is a oversight. The community disagree with our decision, and we introduced a special initiative called XTM Wishing Pool Event.
Under this initiative, every Torum community member can make a small purchase from as low as $100. This initiative is well-received by both the community who have yet to purchase and who have already made the purchase.
Is 30% viable?
In our whitepaper, Team Torum pledged to distribute 40% of the total supply of XTM to the community through our built-in Mission System on the platform. In the same document, we have also pledged that our project will conduct a burn mechanism in each quarter until we are left with 80% of XTM's total supply.
Mathematically speaking, community who holds 40% of XTM's total supply will have more power than Team Torum (30%), once decentralization kicks in. There is also allocation for marketing (5.5%) that will be channeled back to the community through various marketing campaigns and programs.
This is the distribution that is fair and beneficial to every participant of Torum's ecosystem.
Is Torum a scam?
As the co-founder of Torum, I believe everyone has the right to voice out any disapproval or criticism towards the team's decision. From the 1st of July (the day we launched), the team has been engaging with the community on various decision makings and policies. Even our ambassadors - @knowhow92, @bagofincome and @katerinaramm are free to criticize Torum publicly without any interference from the team.
Accepting criticisms is vital for any project to grow. And this is what we have been doing so far. From tiny little details like user experience to macro decisions like XTM Wishing Pool, the community's opinions are always received nicely and handled professionally by the team. You are now a Lander (how we called ourselves) on Torum, and this makes you as one of the friends we valued together with countless Landers.
I believe I have addressed all your concern about Torum. Tell me what you think about Torum, @onealfa.leo. I am excited to hear of your thoughts.
—— Jayson, Community Manager of Torum
RE: 5 Tips For TORUM Newbies