How Does the Project Work? 

The Towns architecture includes the following components: 

Spaces: On-chain programmable community spaces where access rights, memberships, and moderation rules are defined via smart contracts. 

Hardware and Communication Layer: Messages are distributed in an end-to-end encrypted format via a decentralized network of “Stream Nodes.” The data layer is decentralized and resistant to censorship. 

Membership & Token: Users access the Spaces using membership tokens (such as NFTs), and token-based access also enables pricing mechanisms and protocol functionalities. 

Core Purpose and Features 

• Real-time, encrypted, open communication: Messages are end-to-end encrypted with strong privacy. 
• Spaces: On-chain, programmable chat rooms supporting subscriptions and NFT-based memberships. 
• EVM-compatible Layer 2 (on Base): Faster, lower-cost transactions. 
• Off-chain nodes: Secure and decentralized message handling. 
• DAO-based governance: Towns Lodge DAO enables protocol development and community-led governance. 

Founding Team and Experience 

Managing Entity: Towns Protocol is maintained by the River Eridanus Association, a Swiss non-profit governed by Swiss Civil Law. 

Board Members: 

1. Ben Rubin – Co-founder & CEO 
2. Theo Tillberg – Chair of the Board 
3. Erik Olsson – Board Member 
4. Technical Development: Managed by Here Not There Inc., based in New York, USA. 

Ecosystem and Usage Data (2025) 

• Active Spaces: 353,875+ 
• Membership NFTs Issued: 1.17 million+ 
• Unique Space Owners: 297,421+ 
• Total ETH Collected: 7,000+ ETH 
• Use cases include token-gated communities, NFT collector groups, DAO discussion channels, and exclusive content sharing. 

What Makes Towns Unique? 

• Users can create programmable and ownable spaces. 
• Real-time, encrypted, decentralized Web3 messaging. 
• On-chain tradable ERC-721 NFT memberships. 
• Integrated protocol rewards for communities and participants. 
• Full user data and membership sovereignty with censorship resistance. 

Token Details (TOWNS) 

• Total Supply: 10,128,333,333 TOWNS 
• Max Supply: 15,327,986,354 TOWNS 
• Circulating Supply: 2.1 billion+ (~21%) 

Genesis Token Allocation: 

• Investors: 13.74% 
• Public Sale: 2.62% 
• Airdrop: 9.87% 
• Community Reserve: 43.14% 
• Team: 21.46% 
• Nodes (Year 1): 7.90% 
• Node Inflation: 1.27% 

Governance and Ecosystem 

Towns Protocol operates under a decentralized governance model. 

• Towns Lodge DAO: The primary governance body. All major decisions are voted on by token holders and executed via smart contracts. This ensures transparency and auditability of all proposals, votes, and outcomes. 
• Clients: Towns is a permissionless protocol, enabling anyone to build custom client applications. Existing clients include Towns and LateCheckout. 

TOWNS Token Economy and Utility 

$TOWNS is a multi-functional utility token forming the backbone of the ecosystem. 

Token Utility: 

Network Security (Staking): Node operators must stake $TOWNS to participate. Token holders can delegate tokens to support network security and earn rewards. 

• Governance: Token holders vote on upgrades, economic parameters, and strategic decisions through the DAO. 
• Protocol Features: Spaces with sufficient token delegation unlock advanced capabilities like extra storage or free memberships. 

Investors and Funding 

• Series A (2024): $25.5M led by a16z, Benchmark, Framework Ventures 
• Series B (2025): $10M with participation from a16z Crypto, Coinbase Ventures, Union Square Ventures 
• Total Raised: ~$64M 

Towns has raised $46 million to date from a16zcrypto, Coinbase Ventures, Benchmark, Framework, echodotxyz and other strategic angels.

Thank you to our partners who trust the vision that communication should be owned, not controlled. pic.twitter.com/54pz0WDm9z

— Towns Protocol (@TownsProtocol) July 30, 2025

Roadmap and Future Plans 

• New Space features and membership enhancements (Q2 2025) 
• Launch of iOS and Android mobile clients 
• Strengthened DAO governance 
• Expanded token incentive mechanisms 
• Integration with DeFi and in-Space reward systems 

TOWNS Token Listing: TOWNS will be listed on Binance on August 5, 2025. 

Official Links: 

• Twitter
• Website
• Towns Protocol
• Telegram

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