Torum

Torum is a revolutionary SocialFi Metaverse ecosystem designed to connect worldwide cryptocurrency users.

Trace Network (TRACE) is an NFT-based, enterprise-grade decentralized finance protocol that leverages the power of composite smart contracts to provide permissionless DeFi-based financing options, as well as unique NFT-based commodity identification solutions to unleash business potential on billions of dollars that would otherwise be undermined. due to poor inventory and property management, more costly trade finance and banking options, and persistent inefficiencies in nominal value business transactions.

The struggle of any well-known brand in today's scenario is to save its reputation by ridding consumers of counterfeit products. The counterfeit market has taken almost 14.3% of the brand's business, and the price of reputation far exceeds these figures. And in the luxury goods industry, it takes years of struggle to build a loyal customer base, and something like counterfeiting is killing their existing business and the repetitive business they expect from the same loyal customers. There is an urgent need to involve mechanics to determine the originality of products, which can help the buyer make a purchase based on the reputation of the brand.

Lack of real-time inventory status in the supply chain In today's scenario, the distribution network uses many systems that do not provide a clear view of inventory at the last level of the chain. Many brand purchasing decisions are made based on the existing inventory situation in the distribution chain to replenish inventory or to control inventory purchases. There is an urgent need to control or eliminate these inefficiencies that arise from the presence of multiple systems at different levels of storage points throughout the supply chain.

Enterprises today struggle primarily with inefficiencies created by the multiple systems created across the supply chain, as well as disparate systems at the departmental level. They either manage data management manually or through cumbersome point-to-point system integration. Today's multiplex supply chains need to be more transparent and efficient. End-to-end visibility with a single version of the truth in the supply chain is

the nirvana that every business wants to achieve. With the development of electronic data interchange (EDI), companies have moved from manual operations to paperless operations. As technology has advanced, the value-added network (VAN) has been replaced by FTP, AS2. The introduction of centralized electronic data interchange systems has raised privacy concerns among companies exchanging data. Hence, to exchange data securely, cost-effectively, and which is efficient and intelligent so that it can be replicated to integrate new partner systems.

Today, most businesses struggle to get liquidity financing because they have invoices pending due to the credit period, or their trading incentives are tied to statutory bodies, or they may need working capital to grow the business.

As a rule, companies work on credit periods to calculate invoice amounts. The current banking system allows them to borrow against these open invoices. By discounting the invoice, invoices due are pledged to banks for loans. Companies present their accounts to parties such as banks, which provide the necessary loans. However, this process takes a long time and requires a higher interest rate.

Pre-shipment pre-shipment businesses can obtain financing through Packing Credits or pre-shipment factoring. Packing Credit loans allow businesses to receive loans against the orders of their well-known customers, which they acquire. On the other hand, factoring companies hold company accounts and provide them with funds at a reduced cost. In both cases, obtaining a loan requires the submission of complex documentation and high costs. Looking at these available scenarios, companies need the ability to easily borrow at low interest rates.

Modern banking infrastructure allows you to pay bills at a slow pace. The total processing time of funds in companies takes an average of 3-4 days to transfer funds to company accounts. A business needs a more efficient infrastructure to save time on such trade settlements.

Blockchain allows the generation of NFTs of products to create their unique digital identity. Based on the NFTs that will be generated under ERC 721 / ERC 1155 standards, product/package ownership will be allowed as well as transfer of ownership between multiple dapps. These NFT products will act as a unique barcode that must be unique across all blockchains.

Brands/Retailers will mint NFT for any new product they create on the Trace network and will move it to their PLM systems using the SDK extension. Or, they can submit product details to Trustify and generate NFTs to be stored on the blockchain as well as

their PLM system using the provided SDK extension.

The main benefit of replacing the existing barcode structure with globally unique NFTs is that you don't have to follow other organization standards.

Grocery NFTs have another important function, in addition to creating a unique identity, which allows the movement of products from one address to another to be registered on the block chain, which allows the movement of goods to be tracked. In addition to stock movements, NFTs provide a quick and easy way to see the overall stock status of products in the distribution network.

NFTs will not only be used in the tracking network to identify products, but also to enable various community incentive tools for brands, such as gift cards, discount coupons, loyalty cards, etc., so that brands can build a loyal and long-term community.

In addition to minting capabilities, the Trace Network will also provide instant NFT exchange among the community to enable further brand engagement and gamification for users to be more engaged with the brand, thus providing more compelling and

long-term brand loyalty.

The EDI contract will facilitate the movement of data from one trading partner system to another over the blockchain to provide visibility, transparency and trust throughout the supply chain. Simply with the SDK it will be possible to control data integration where each policy/process can be applied using smart contracts.

Brands will integrate their systems using SDKs linked to respective EDI transaction smart contracts to process and transfer data on the blockchain. Other trading partners should use similar SDKs to integrate and receive data through the appropriate smart contract in

their systems.

A similar utility will help in cross-company systems integration, where each company can use different systems for their work, however, group consolidation requires the collection of data from these multiple systems using the appropriate SDK compiled along with the transaction smart contract. On-network settlement and financing options with liquidity facilitated by Defi.

DeFi solves the current problems of trade finance by making the borrowing process less cumbersome and also providing lower interest rates. Documents such as an invoice or the value of inventory that will need to be placed as collateral will be available on the network, and the DeFi feature will allow borrowing against it.

The industry has always felt the need to share credit terms across the ecosystem for managing funds, but lacking the right tool for control and authentication, such sharing made this process impossible. This mechanism can be implemented by tokenizing the terms of the loan and providing them to other trading partners of the ecosystem at little cost or interest rate.

Trace Network NFT Marketplace - BLING is the first limited edition luxury and lifestyle NFT marketplace brought to you by Trace Network. Currently, NFTs around the world only have a digital association, which means you can only own a piece of digital art that has been tokenized on the blockchain. Trace Network's BLING NFT marketplace will act as a bridge between real commodities and virtual non-fungible tokens that were created specifically to represent a unique part of this limited edition luxury lifestyle.

It will not be just a real world item, but a limited edition luxury item such as a watch, purse, purse, unique dresses, beauty accessories and more.

In addition, this marketplace will be completely decentralized, representing immutable ownership and fully powered by a series of smart contracts. This means that any brand can be an NFT creator and sell, auction and distribute their NFTs without permission.

-NFT Minting for Real Assets: Bling will allow real products to be minted in a limited edition. These products will be released by brands that will allow their customers to own their products digitally and not just physically. This will allow brands to build a loyal community for their products.

-Auction / Sale: Each whitelisted brand will be able to mint NFTs of their limited edition products and put them up for auction or sale. Each product in the auction will have a base price, above which a bid can be placed, which must also be subject to a time limit.

-Physical Goods Claim: Once NFTs are won at auction or purchased by customers, they can claim physical products by providing a shipping address. Once the physical product has been delivered to the final destination and verified by the customer, ownership of the NFT will be transferred to the customer's ERC20 wallet. Ownership of the NFT as well as the physical product will be recorded on the blockchain.

The Trace Network will be built on top of a layer 2 blockchain solution and will provide high transaction speeds, ultra-low or no gas fees, enterprise-grade stability, and high security standards for layer 2 blockchain networks.

Layer 2 networks provide a foundation for connecting to EVM-compatible blockchain networks, making it easy for Trace to bridge cross-chain transactions. The interoperable ecosystem with layer 2 solutions makes it easy to transfer data across different chains and with virtually no transaction costs.

The NFT tech stack will comply with ERC 721 (non-fungible token standard) and ERC 1155 (multi-token standard).

Trace interoperability will make it easier to settle cross-chain transactions, create traceable NFTs, and transfer data from legacy applications.

Apart from this, Trace Network will also add an intermediate relay infrastructure network to provide gas-free transaction infrastructure to facilitate Web3.0 experience on our multi-chain protocol. The end user will send a meta transaction similar to sending a standard transaction with from, to, value, and signature details, except that instead of sending it directly to the block chain, it will send the meta transaction to a relay that takes care of it.

This relay will create a new transaction containing the meta transaction and send it to the smart contract proxy. The contract checks the validity of the meta-transaction (signature basis) before it is executed. This mechanism will be used by the Trace Network to improve user adoption. This allows them to sponsor gas for their users while maintaining the benefits of a decentralized system.

The trace network is designed in a fully modular fashion to provide seamless, multi-dimensional protocol scalability consistent with its expansion across industries and applications.

Components of the main protocol:

The Core Trace Network protocol consists of three main modules: NFT Factory, Data Exchange, Liquidity Vaults, including vaults that manage the supply and stability of white label stablecoins.

NFT Factory: The NFT factory will manage all the various functions and functions responsible for minting, recording, swapping, and transferring NFTs in the Trace ecosystem at the protocol level. It will be a set of different smart contracts using standard ERC standards such as 721 and 1155 according to the specific function and roles of the respective NFTs in the protocol functions.

Data Exchange: Data Exchange will primarily allow data to be exchanged between different enterprises within a business network. This data exchange is based on the EDI standards that have been around since the 1970s. However, with the development of technologies such as blockchain, it is now possible to implement more secure, scalable and decentralized peer-to-peer (business) and peer-to-peer (business) networks. At this level of communication, there will be, first of all, a farm of various factory contracts woven into the process flow that organizations will subscribe to. However, each standard EDI transaction contract will consist of three main parts:

Own transaction contract: These contracts will govern the core function of the behavior of transactions such as purchase orders, delivery notices, invoices, etc. and will be the basis of standard EDI definitions that will be packaged in an NFT-based envelope for transmission to the recipient's address .

Business Logic Contracts: These contracts will be responsible for implementing the various business logics and rules that will be implemented in the various business networks.

In general, these contracts will be responsible for efficiently updating the state of the transaction, hence triggering events in the overall process chain.

Settlement and Beneficial Contracts: These contracts will contain the financial beneficiaries of the transaction and will also contain the settlement history of each respective transaction, hence interacting with different contracts and defi vaults that are distributed across several different blockchains through their own liquidity aggregation layer. As a result of various trade finance transactions, these contracts will be updated through the call of an intermediary contract to replace and update the address of the recipient of funds after the full settlement of the financial transaction of the enterprise.