Three Protocol, Tectum’s First Incubated Project

Web3 is growing fast. However, there are still many people unbanked. And this locks them out of many basic online services. Three Protocol has now a Web3 option for this. It decentralizes marketplaces and RWA. As a result, it offers access for the unbanked of our world to join TradFi services. That’s why Tectum decided to incubate this protocol.

So, let’s take a closer look at the Three Protocol, incubated by Tectum.

What Is Three Protocol?

Three Protocol wants to set up a network of autonomous marketplaces. For this, it uses Tectum’s blockchain technology for most of its architecture. It wants to give access to financial services to people who lack access to TradFi. So, their main vehicle for this is marketplaces. That’s why Three Protocol focuses on three main areas,

• Product
• Service
• RWA
  

To get the most out of this, the protocol has three ways of making this work. This should allow the unbanked and debanked to join traditional financial services.

• A no-KYC solution by implementing ZKP Pseudo-anonymity. This way not EVERY move you make is public.
• A Neural Network AI.
• Tri-Signature DAOs. It will use these for crypto marketplaces.
  

With Jobs3, Three Protocol has already launched its first product. Jobs3 is a decentralized job marketplace. It will compete with Web2 job boards like Upwork and Fiverr. You can expect more marketplaces by Three Protocol in the product, service, and RWA sectors. For example,

• 3Taxi: Like Uber but decentralized. It will have an upfront payment model for initial reviews. Scheduled to launch in December 2024.
• 3Bay: A decentralized platform for auctions and sales. The focus is on quick and impartial reviews. Scheduled to launch in August 2024.
• Auto3: A decentralized automotive marketplace. Scheduled to launch in October 2024.
• 3Eats: A decentralized food delivery service competing with Grab, Doordash or Deliveroo. Scheduled to launch in February 2025.

The protocol will have its own native token $THREE. This will power the Three Protocol with its various use cases. More on this later.

How Does The Three Protocol Work?

Three Protocol has three main pillars to onboard people to Web3. So, let’s take a closer look to find out how this makes the protocol work.

• No-KYC — Instead, you use a crypto wallet. A Zero Knowledge Proof Pseudo-anonymization supports this. So, the platform holds your profile in an SHA256 hash. This is an immutable on-chain entry. Your transactions help to authenticate your accomplishments and experience.
• Neural Network AI Model — All marketplaces will use this. An AI model will ask you questions about what you’re looking for. It will also provide you with suggestions that suit your search. As a result, your research time reduces drastically. In turn, this should attract Web2 users. It’s an efficient and accurate way of matching clients to services or products.
• Tri-Signature DAOs — These help in case of any disputes on marketplaces. This involves 3 parties, the buyer, the seller, and the DAO authority. Hence, the name, Three Protocol.

Below is a picture of the UI of Three Protocol’s first marketplace by Jobs3.

Source: Jobs3

What Sets the Three Protocol Apart?

Three Protocol uses blockchain technology. This allows for decentralized platforms and the use of crypto assets. DAOs allow for democratic government options. By using crypto, it includes the unbanked to a financial system. All listings across its marketplaces will be cheaper compared to its Web2 equivalents.

The Team

Three Protocol has a doxed team. The team has also been working on the project for the last three years.

• Louie Rice (Founder/BDM) — He’s also a founder of Jobs3. Experience in operations management and Web3 marketing.
• Grant Robertson (Founder/CTO) — Co-founder of Jobs3. He has a background in web design.
• Sean Munn (CMO) — experience in marketing automation, AI, and operational efficiency.

The team can also pick the brains of some great advisors.

• Russell Sean — he’s the CEO of Tectum. 
• Trevor Mccarter — COO at Tectum.
• Andrew Erikshivilli — CMO at Tectum.
• John Dajci — TMS.
• Tawqeer Gilkar — EmChain.

$THREE Tokenomics

The native $THREE token is a utility token. Some of its use cases include,

• Fee reduction — receive a 5% fee reduction on a transaction when using $THREE token.
• Governance — Holding $THREE allows you to take part in governance voting. That’s among all platforms.
• Staking — Stake your $THREE tokens and receive rewards for securing the network.
• Educational incentives — Learn through incentivized ‘train-to-earn’ initiatives.

There will be 100 million $THREE tokens. The distribution of the $THREE tokens is as follows.

• The team receives 15% with an 18-month vesting schedule.
• 10% goes to staking incentives.
• 2% is for a public sale.
• 73% is for liquidity. 

All tokens launch during the TGE, except the 15% allocated to the team. During April, we should see the token launch and public sale. In June, staking should become available, and in July, Three Protocol expects the DAO to go live.

Conclusion

We took a closer look at Three Protocol. It aims to connect the unbanked with financial inclusion. The protocol is building decentralized marketplaces. These run on blockchain technology and offer crypto payments. Their marketplaces also offer much more competitive prices compared to their Web2 competitors. It’s also the first project incubated by Tectum.

Disclaimer

The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers, and their risk tolerance may be different from yours.

We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments, so please do your due diligence. This article has been sponsored by Tectum.

Copyright Altcoin Buzz Pte Ltd.