Totem Live Accounting

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Totem is building the world's first peer-to-peer accounting consensus protocol. It’s not just a first in the blockchain space – it’s a first in the accounting world too.

We use the peer-2-peer connectivity and real-time consensus properties of blockchains to ensure that all parties to a transaction have their accounting records updated at the time of the event in a way that leaves no room for fraud, corruption or manipulation. The global nature of the network defies politically motivated bad actors from restricting trade between consenting parties whilst preserving goals of personal and business privacy.

As a side-effect you'll be excited to learn that Totem also takes accounting off the todo list for everyone.

Read the Lightpaper Dive into the details

Automated book-keeping for a decentralized future

Our main target market is the ever-expanding decentralized economy. As businesses employ less, and contract freelancers more, we are all moving towards a future where our accounting will be at the atomic level of our own Identities.

We are looking towards a future where we only need to share a Totem Identity, and all the book-keeping will be taken care of, automatically, silently and without an accountant in sight.

This is the way future generations will want accounting to be done. This is the way it is done today in Totem.

Test the App App docs

Date: April 2019

Presenter: Chris D'Costa - Founder

Event: Sub0 Conference

Location: Berlin

Date: December 2019

Presenter: Joe Petrowski - Parity

Event: Relay Chain Podcast

Location: Online

Date: April 2019

Presenter: Chris D'Costa - Founder

Event: Sub0 Conference

Location: Berlin

Date: April 2021

Presenter: Chris D'Costa - Founder

Event: Crypto Current Podcast

Location: Online

Date: June 2021

Author: Chris D'Costa - Founder

Publication: Cointelegraph

Location: Online

Date: April 2021

Author: Chris D'Costa - Founder

Publication: International Business
Times

Date: July 2021

Author: Polly Jean Harrison

Publication: The Fintech Times

Location: Online

Date: March 2020

Presenter: Chris D'Costa - Founder

Event: Substrate Seminar

Location: Online

Theoretical & technical research. Original Whitepaper published and reviewed by Prof. Emin Gün Sirer.

Evaluation blockchain L1 protocols against Totem’s requirements. Selected Substrate & Polkadot for build. Proof of Concept completed Dec 2018.

Launched the Totem Meccano CanaryNet on Substrate v1 in April.

Major engineering & development.

Totem Meccano UI, p2p messaging, faucet, BONSAI decentralised off-chain storage, Activities, Teams, Timekeeping, Archiving.

Continued major engineering & development.

Accounting Engine, intrinsic Chart of Accounts, Totem Economics, Orders, Prefunding with escrow account, Invoicing, Archiving & more.

Continued major engineering & development. Migration to Polkadot Substrate v4 Frame 2. Preparation for Polkadot Parachains and Mainnet.

Chainlink price feed integration and partnership. Polkadot, Bitcoin and Ethereum integration with microservices, Crowdloan preparation.

Launch Totem KAPEX Parachain and Crowdloan.

Completion of beta roadmap and milestones, grow the team and community. Product launch, end-user adoption.

Total World Domination.

Our Totem Live Accounting community is growing daily, so why not join us as well? Whether you are an investor, developer, or user, there is a way to reach out and get involved. Checkout our channels.

The Totem Team are excited to announce our Polkadot Parachain Crowdloan! Your contributions will enable Totem achieve our major milestone to connect our Totem Kapex Parachain the Polkadot Network.

But that's not all... you can earn a contrbution bonus by taking part in our unique Pledge to fund the expansion of the current team and to accelerate towards the full beta product launch expected in 2022.

100% Crowdloan & Pledge rewards distributed!

Crowdloan Details Crowdloan Rewards

We have deliberately kept the Kapex Parachain initial coin supply low at 2,581,818 KAPEX coins of which 55% will be distributed to contributors in the Crowdloan and Pledge. Additionally we have set a maximum total contribution of 7,445,000 DOT to our Crowdloan and Pledge.

There is no vesting period for initial distribution and our calculations show that this will provide the best balance of price discovery and incentives for our community.

A more detailed breakdown and simulations can be found in our documentation. Check it out now!

Contribution details

Implicit in the Pledge funding is the growth of the Totem Team and promotion of our application to mainstream users. The majority of our development funding will come from your contributions in the Pledge with additional funding via grants from the Live Accounting Association.

We will be looking to engage and employ community members and experts from outside of the community to reach these goals including adoption marketing and operational activities including engaging with validators on the network. To be fair to the community we are capping the Pledge contributions at 31.25% of Crowdloan Hard Cap.