Tellor is a crypto project that provides accurate and reliable external data to smart contracts. When the blockchain needs information about the correct price of something such as BTC/USD, a service like Tellor comes in handy. It was started in 2019 by Brenda Loya, Nick Fett and Michael Zemrose. It has its own token called TRB (Tellor Tributes). Tellor’s purpose is that without any central company, people of the world together send correct data to the blockchain.
Tellor’s system is such that any person (called a miner or reporter) who wants to send data, first has to stake 1,000 TRB tokens. Then he answers a question (such as the price of Bitcoin). If his data is quick and correct, he gets a reward of TRB tokens. Those who ask for data can also give TRB as a “tip”, which gives the miner more reward. In this way everyone works with incentives.
If someone feels that any wrong data has been given, then he can dispute it. For this, he has to spend about 500 TRB. Then voting takes place in the network. If the data turns out to be wrong, then the miner’s stake is cut and given to the person who disputed it. If the complaint turns out to be false, then that fee of TRB is burnt. This maintains transparency and honesty in the system.
There is no fixed limit of TRB token, that is, its supply is unlimited. But as tokens are created, its speed gradually decreases. Also, every time a tip is given, half of it is burnt. This keeps the supply a little under control. Taylor did not do any ICO or pre-mine, so its token distribution is considered quite fair.
Another big function of TRB token is to vote on governance i.e. network rules. TRB holders can join the DAO and decide what changes should be made to the protocol. This gives the community full participation and the future of the project is decided democratically.
However, there are some concerns about TRB. Such as a large portion of TRB is held by a few large holders (whales). This can lead to huge fluctuations in the price. For example, in December 2023, its price went up to $600 and fell to $121 the very next day. Currently in May 2025, its price is between $51 to $63, but it can change very rapidly.
The biggest feature of Tellor is that it is completely decentralized and is not in the hands of any one company. Its tokenomics are designed in such a way that everyone does the right thing by getting incentives and the wrong people are punished. But, the price of TRB fluctuates a lot, and the risk increases due to some large holders having more tokens.
If you want to invest in TRB, you can check its price and trends by visiting platforms like Binance, Coinbase or Kraken. But remember, investing in crypto is risky, so take any decision only after thinking carefully and doing proper research.
(Note: This article is for information only. Do not consider it as investment advice. Consult a financial advisor before your investment.)