Question 1

What is Towns Protocol?

Accepted Answer

Towns Protocol is a decentralised infrastructure for building encrypted, real-time messaging applications. It enables the creation of programmable, ownable communication environments known as "Spaces". These Spaces support on-chain memberships, custom access controls, and modular governance features. Users interact via front-end clients (Web and iOS), while the core infrastructure comprises smart contracts deployed on Base (an Ethereum Layer 2), a proprietary Layer 2 rollup called Towns Chain, and a decentralised network of off-chain stream nodes that handle message validation and delivery.

Towns emphasises user ownership, privacy via end-to-end encryption, and decentralised governance through the Towns DAO. It features opt-in modular upgrades for Spaces, staking mechanisms, and open SDKs for third-party development. The protocol is governed by the River Eridanus Association, a non-profit Swiss entity responsible for protocol stewardship, compliance, and coordination of development efforts.

Question 2

What is Towns (TOWNS) token used for?

Accepted Answer

TOWNS is a utility token used within the Towns Protocol ecosystem. It does not represent equity, claims to profit, or rights to capital reimbursement. Its utility includes the following functions:

- **Staking**: Validators must stake TOWNS to participate in securing the protocol’s Layer 2 network. This includes running validator nodes on Towns Chain or delegating tokens to existing node operators.
- **Delegated Staking**: Token holders who do not run nodes can delegate their TOWNS to node operators, enabling indirect participation in network security and governance.
- **Governance Participation**: TOWNS holders vote on protocol upgrades, economic parameters, and structural changes via on-chain proposals submitted through the Towns DAO.
- **Access to Features**: Delegating tokens to Spaces unlocks advanced features such as enhanced storage, custom access rules, and monetisation modules (e.g. paid memberships, tipping, and in-app reputation systems).
- **Buy-and-Burn Mechanism**: Protocol revenue collected in ETH may be used to repurchase and burn TOWNS tokens, counterbalancing inflation introduced via staking rewards.

The token is transferable, though it may be subject to temporary locks due to protocol-specific mechanisms like staking cooldowns. It is designed to be natively functional upon issuance and is used to access and activate protocol-level operations.

Question 3

Who created Towns (TOWNS)?

Accepted Answer

TOWNS was created by the team behind Here Not There Labs, a U.S.-based company focused on decentralised communication platforms. The three co-founders are:

- **Ben Rubin (CEO)**: Previously co-founder of Meerkat and Houseparty, Rubin brings experience in building large-scale social communication platforms. He leads the vision and strategic development of Towns Protocol, aiming to apply decentralisation principles to group messaging and community infrastructure.
- **Brian Meek (Co-founder & CTO)**: Formerly CTO at STRIVR Labs and General Manager of Engineering at Skype. He is responsible for the protocol’s technical architecture and led the design of Towns Chain and stream node infrastructure.
- **Patrick Fives (Co-founder)**: Involved in early-stage product and community development. He contributes to the DAO governance framework and user experience aspects of Towns Protocol.

These founders collectively launched the project under Here Not There Labs and later formed the River Eridanus Association in Switzerland to provide decentralised oversight and compliance under MiCAR regulations.

#	Instrument	Exchange	Benchmark Score	Price	24h Change	24h Volume	24h Trades	24h Open	24h High
1	TOWNS-TRY TOWNSTRY	binance	AA	0.06024TRY	-4.09%	179,672,126.00TOWNS	1,593	0.06281TRY	0.06281TRY
2	TOWNS-USDT TOWNSUSDT	binance	AA	0.001204USDT	-4.06%	169,382,005.00TOWNS	3,831	0.001255USDT	0.001256USDT
3	TOWNS-USDT TOWNS_USDT	whitebit	BB	0.001208USDT	-3.97%	87,126,544.00TOWNS	10,609	0.001258USDT	0.001262USDT
4	TOWNS-USDT TOWNSUSDT	bybit	A	0.001207USDT	-3.90%	69,893,087.30TOWNS	1,795	0.001256USDT	0.001259USDT
5	TOWNS-USD TOWNS-USD	coinbase	AA	0.001181USD	-5.77%	39,512,217.60TOWNS	517	0.001254USD	0.001254USD
6	TOWNS-USDT TOWNSUSDT_SPBL	bitget	BB	0.001204USDT	-4.29%	9,641,595.58TOWNS	1,780	0.001258USDT	0.001259USDT
7	TOWNS-USDT TOWNS_USDT	gateio	A	0.001182USDT	-4.68%	8,867,404.00TOWNS	192	0.001240USDT	0.001251USDT
8	TOWNS-USDC TOWNSUSDC	bybit	A	0.001186USDC	-4.66%	4,447,825.30TOWNS	99	0.001244USDC	0.001257USDC
9	TOWNS-USDC TOWNSUSDC	binance	AA	0.001202USDC	-4.07%	4,450,685.00TOWNS	334	0.001253USDC	0.001254USDC
10	TOWNS-USDT TOWNS-USDT	kucoin	BB	0.001191USDT	-5.02%	752,602.00TOWNS	35	0.001254USDT	0.001261USDT
11	TOWNS-KRW TOWNS_KRW	bithumbkorea	-	1.63KRW	-2.81%	81,617,516.45TOWNS	710	1.68KRW	1.69KRW
12	TOWNS-USDT TOWNSUSDT	toobit	C	0.001202USDT	-3.92%	68,936,841.00TOWNS	5,935	0.001251USDT	0.001257USDT
13	TOWNS-USDT TOWNS_USDT	bitunix	C	0.001203USDT	-4.14%	61,441,454.00TOWNS	6,245	0.001255USDT	0.001256USDT
14	TOWNS-USDT towns_usdt	lbank	C	0.001206USDT	-3.98%	59,031,333.79TOWNS	2,321	0.001256USDT	0.001259USDT
15	TOWNS-USDT TOWNS-USDT	bigone	-	0.001160USDT	-7.20%	52,834,650.00TOWNS	4,924	0.001250USDT	0.001260USDT
16	TOWNS-USDT TOWNS_USDT	coinw	-	0.001204USDT	-3.91%	45,311,896.47TOWNS	1,768	0.001253USDT	0.001253USDT
17	TOWNS-USDT TOWNSUSDT	mexc	C	0.001204USDT	-3.99%	44,514,070.46TOWNS	2,883	0.001254USDT	0.001257USDT
18	TOWNS-USDT TOWNSUSDT	bitrue	D	0.001220USDT	-3.94%	34,799,901.84TOWNS	4,850	0.001270USDT	0.001270USDT
19	TOWNS-THB THB_TOWNS	bitkub	C	0.04032THB	-3.72%	32,117,897.29TOWNS	147	0.04188THB	0.04188THB
20	TOWNS-USDT TOWNS-USDT	bingx	D	0.001205USDT	-4.14%	27,325,072.00TOWNS	4,761	0.001257USDT	0.001263USDT
21	TOWNS-EUR TOWNS-EUR	bitvavo	B	0.001072EUR	-4.03%	18,940,492.15TOWNS	115	0.001117EUR	0.001117EUR
22	TOWNS-USDT towns_usdt	xtpub	-	0.001205USDT	-3.98%	8,467,067.20TOWNS	1,387	0.001255USDT	0.001256USDT
23	TOWNS-USDT towns_usdt	digifinex	D	0.001210USDT	-3.20%	5,036,295.18TOWNS	1,499	0.001250USDT	0.001250USDT
24	TOWNS-USDT townsusdt	huobipro	C	0.001264USDT	2.93%	348,457.34TOWNS	21	0.001228USDT	0.001266USDT
25	TOWNS-KRW TOWNS_KRW	coinone	C	1.55KRW	-7.54%	135,938.93TOWNS	4	1.67KRW	1.82KRW
26	TOWNS-INR TOWNSINR	coindcx	-	0.1207INR	-5.19%	22,756.40TOWNS	11	0.1273INR	0.1273INR
27	TOWNS-USDT TOWNSUSDT	hitbtc	E	0.002597USDT	0.00%	0TOWNS	0	0.002597USDT	0.002597USDT
28	TOWNS-USDT TOWNS_USDT	poloniex	C	0.0₃9600USDT	0.00%	0TOWNS	0	0.0₃9600USDT	0.0₃9600USDT