Hi, everyone! After several months of closed development, we’re thrilled to publish a Genesis Report on the milestones TARS has achieved so far. TARS aims to provide a simple, safe, and collaborative infrastructure for crypto users to rebuild influence and trust on Web3. Here is a summary of all that’s happened on TARS.

Meet TARS

TARS is an automated division of powers protocol for building the Credit Data Network in Decentralized Society (DeSoc). Built on Non-Custodial, Secure & Audited Smart Contracts, TARS provides a simple, safe, and collaborative infrastructure for crypto users to rebuild influence and trust on Web3.

A variety of Web3 utilities built with TARS Protocol, including TARS Space, Smart SAFT, Claimer, TARS Dashboard, etc., will allow crypto users to effortlessly engage in Web3 token economies and manage their portfolios in a trustable environment. Anyone can create their dedicated Web3 Brand through TARS Space and monetize their influence from it. Contributors to building the Credit Data Network will be rewarded NTT (short for Non-TradableToken) as proof of their credit.

What Inspired Us To Build TARS?​

1. In the primary market investment of crypto, there is a centralization risk that cannot be ignored.

People in the crypto world participate in the primary market mostly by directly signing a legal contract known as a Simple Agreement for Future Tokens (SAFT) with the project parties, or by purchasing tokens through pool financing or IDO. At the same time, the crypto project party implements the token vesting timeline according to their original tokenomics; nevertheless, it is common for certain project teams to adjust or change it, citing market circumstances or other reasons as justifications. The project team has the freedom to abandon the project, flee, or change the token vesting timeline without suffering any cost or limitation, destroying public trust in the project and endangering investor interests. Thus, TARS Protocol offers a secure, accessible, transparent, and decentralized tool for creating and participating in SAFTs and early-stage investment deals for anyone to use; and an easy-to-navigate platform with many features.

2. The on-chain program’s complexity is preventing the widespread adoption of Web3 applications.

DeFi has had a significant impact on the development of token economies in the past. However, most people’s participation in DeFi activities is still limited by certain thresholds and restrictions. Web3 solutions that are user-friendly and plug-and-play are the next step in DeFi advancement, according to us. A superb Web3 product should be easy to use and respond to users’ demands to the fullest extent possible. TARS Protocol is dedicated to making sophisticated Web3 apps easier to understand. Users can design and adopt Web3 utilities at the lowest cost with just a few simple clicks and no coding required. To regain trust and influence, the crypto industry requires a unified and simple decentralization standard. At TARS, anyone can launch the Web3 DAO Hub — TARS Space, calling various Web3 applications without programming, eliminating the need for complicated procedures.

3. The construction of Decentralized Society (DeSoc) relies on the Credit Data Network in the future.

On May 10, 2022, Glen Weyl, Puja Ahluwalia Ohlhaver, and Vitalik Buterin co-authored and published a paper titled “Decentralized Society: Finding Web 3’s Soul”, and pointed out that “Web3 today centers around expressing transferable, financialized assets, rather than encoding social relationships of trust. Yet many core economic activities — such as uncollateralized lending and building personal brands — are built on persistent, non-transferable relationships”. We believe that the Credit Data Network will be one of the infrastructures for building Decentralized Society (DeSoc). The DEXs such as Uniswap and Pancakeswap meet the needs of people to invest and trade in the secondary market in a trustable and decentralized environment. However, the current primary market in crypto is still blank. As a result, TARS will set out to provide an alternative solution for the crypto industry — the division of powers protocol. It applies to the primary market’s investment environment, fully safeguards investors, and creates the credit data network that will power DeSoc. TARS NFT Receipt is adopted to record the deal/investment of the participants and supported to be swapped into Non-TradableToken (NTT) as the credit cornerstone.

TARS Solution

TARS aims to provide a simple, safe, and collaborative infrastructure for users to rebuild influence and trust on Web3. At TARS, the following three phases will be passed to build the Credit Data Network:

Phase 1: Basic Data Construction

TARS expands the market and accumulates original investment behavior data by providing users with a series of Web3 applications for primary market scenarios, including TARS Space, Smart SAFT, Claimer, TARS Dashboard, etc.

Phase 2: TARS SocialFi Network

Based on the first phase, TARS will introduce diversified SocialFi elements and features and merge Web2 socials to support users to build branded Spaces and improve the Credit System on Web3.

Phase 3: Credit Application Adoption

The construction of the TARS ecosystem is based on the complete Credit Data Network, and more ecological applications are developed and adopted, such as insurance, uncollateralized lending and building personal brands, etc. End-users will be rewarded with NTT (short for Non-TradableToken), which will be used in TARS’ Credit Application Modules, in exchange for their contributions to the TARS ecosystem.

How TARS Works

Division of Powers

The design of TARS introduces the idea of ​​division of powers, similar to the separation of powers in political terms. As we know, separation of powers refers to the division of a state’s government into branches, each with separate, independent powers and responsibilities, so that the powers of one branch are not in conflict with those of the other branches. The intention behind a system of separated powers is to prevent the concentration of power by providing for checks and balances.

We believe that in the world of Web 3, code is law. Therefore, in the TARS product Operation Mechanism, the division of powers is adopted to effectively balance and safeguard the legitimate rights and interests of all parties involved.

Taking the Smart SAFT as an example, although the proposer has the same interests as the investor, it has no right to touch the investor’s funds; the Token Provider can not complete the deal until it has successfully fulfilled its transfer obligations; investors can claim refunds when the deal failed and are no longer passive and vulnerable. The following flowchart provides a clearer picture of the checks and balances between the participants in the Smart SAFT.

Build With TARS

TARS provides a simple, safe, and collaborative infrastructure for crypto users to rebuild influence and trust on Web3. A variety of Web3 utilities can be built with TARS Protocol, such as:

Our Vision

It’s time to solve the “trust problem” when investing and trading in the crypto world.

At TARS, we are building a simple, safe, and collaborative infrastructure on Web3. Based on the business model of division of powers, TARS implemented the decoupling of all participant permissions and ensures that the business is completed in a trustable system. The Credit Data Network will be built through the mass adoption of TARS to power the Decentralized Society (DeSoc).

What We’ve Done So Far

The main milestones of the roadmap are as follows:

In Q1 2022

• The core team was built.
• Did Idea Analysis & Initiation
• Made the market fit research and the development plan.
• Design & Technical Specifications Initiation
• Legal Counsel
• UI/UX Design and Tech Architecture Documentation
• Build the First Version of the Development Framework

In Q2 2022

• Completed the BSC-based Space contract test.
• Completed the Smart SAFT contract test.
• Completed the NFT Receipt contract test.
• Optimized the Interaction of Dashboard
• Released of the Whitepaper 1.0
• TARS V1 is ready to officially launch

As a decentralized ecosystem built for #Web3, the protocol’s security is our top priority as always. TARS V1 has completed the audit by Certik, one of the top security auditors. Now check out TARS Protocol on CertiK’s Security Leaderboard below👇

We’ve listed a series of tasks of the team’s main focus as a to-do list. Kindly click here for more details.

What To Expected Next

TARS will have an eventful June, with multiple developmental milestones, new partnerships, community growth, and an expanding presence in the market. Stay tuned!

About TARS Protocol

TARS is an automated protocol providing trustable infrastructure for Web3 companies to help them manage their investment and monetize their influence. Crypto organizations can use TARS to complete the fundraising and efficiently manage their portfolios and vesting tokens to rebuild influence and trust on Web3.

If you like TARS, kindly subscribe to our Mirror, join our Telegram Channel, follow us on Twitter, and feel free to join our community and build with TARS. Stay updated on the progress by following on social media channels and communities below.

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