The popular Chinese web forum Tianya Club will launch its own Tianyan token (TYT). Tianya Club will use coins to encourage active community members and creators of original content on the platform, as well as a means of exchange and payments.
The amount of compensation will depend on the number of votes received from other owners of the token. However, TYT owners can only get the utility-token Tianya Diamonds owners, released by the Chinese media platform last year.
In total, the social site, which is considered as Reddit analogue, emits 90 billion TYT. The project team will get 20% of the tokens, and 80% will be used to reward users.