Tutellus progresses its model for the TUT token through a tokenization and valuation of its teachers, by swapping the token following a decentralized governance by the token holders. The swapping will create as many different TTUTs (“Teacher TUT”) tokens as teachers to be tokenized.
The TUT token is the way to get access to the security token TTUT after de tokenization event for the teachers, being swapped to TTUT tokens, each one associated with a teacher; the token holders will be able to select the teachers to be promoted, buying ‘a part’ of them and their future income expectancies, with the workflow as follows:
- Tutellus issues TUT tokens to be bought by investors, in exchange of fiat of cryptocurrency. This money will be used to tokenize these teachers.
- The investors, through a decentralized governance, pick the teachers to be tokenized. This decision will be taken during the Tokenization Event, on 1st June 2019.
- Once the teachers are selected they will be associated with TTUT tokens.
- The TUT tokens will be swapped for TTUT.
- Tutellus is committed to promote and support the tokenized teachers, inside and outside the platform. The teachers may opt for getting a 50% upfront of their value, using this money to stand out from the rest by using extra services. In return, Tutellus will get 50% of their future share of the benefits.
- The teacher shares the incomes with the investor (30%) for the following 5 years. If this is not enough to reach the ensured profit, the associated collateral will be applied.
- Tokenized teachers will work exclusively for Tutellus and will commit to a minimum amount of new content created.