TYD (Tianya Diamond, TYD) is the ERC20 Token issued by BikiCoin that is exchangeable 1:1 with Tianya Diamond. BikiCoin guarantees that anyone holding TYD can redeem it for an equal amount of Tianya Diamond (similar to the 1:1 peg between USDT and the US Dollar), through over-the-counter trading. The official guarantee ensures that all circulating TYD tokens have an equivalent amount of Tianya Diamond backing them, while the non-circulating portion is stored in cold wallets and cannot be traded; users holding Tianya Diamonds can exchange them for TYD to deposit and trade on the BikiCoin exchange.
Tianya Diamonds are exclusive items within the Tianya community, symbolizing status and digital value, designed to support a new governance structure and user value system. They possess attributes such as limited issuance, collectibility, and transferability. The first application launched involves using Tianya Diamonds to rank up, with the diamonds used in this process being continuously destroyed. More applications for Tianya Diamonds will be introduced in the future.
The initial intention behind BikiCoin issuing TYD is to address the issues in the current Tianya Diamond market, establishing a more liquid, secure, trustworthy, and transparent trading market for Tianya Diamonds.