Towns Protocol (TOWNS): Decentralized Real-Time Communication Protocol
Towns Protocol is a decentralized real-time communication protocol built on Base L2, providing programmable, sovereign community spaces with token gating, on-chain subscriptions, end-to-end encryption, and economic systems. Founded by Ben Rubin (Houseparty founder) with $46 million raised from a16z, Coinbase Ventures, and Benchmark, the platform aims to become Web3's "Discord alternative." TOWNS (TOWNS) will soon be available on Bitget!
What is Towns Protocol (TOWNS)?
Towns Protocol is a decentralized platform designed to enable people to build, grow, and own their own digital communities or "town squares." Built on Base L2 chain, Towns provides programmable community spaces with integrated token gating, on-chain subscriptions, end-to-end encryption, and economic systems.
The platform allows anyone to sell exclusive access to group chats, keep more of their earnings, and ensure membership is immutable through blockchain technology. Unlike traditional platforms where companies control membership and monetization, Towns gives ownership and control to space creators.
Core Innovation: Each digital space is owned by its members, not by a centralized platform, with membership records that are immutable and on-chain, making them transparent and tamper-proof.
Who Created Towns Protocol (TOWNS)?
Towns Protocol was founded in 2023 by Ben Rubin and Brian Meek under Here Not There Labs, combining experience in social apps, real-time communications, and decentralized technology.
Key Team Members:
● Ben Rubin (Co-Founder & CEO): Creator of Houseparty (150 million users, acquired by Epic Games) and Meerkat (20 million users). LinkedIn profile shows extensive experience in social app innovation and real-time communications.
● Brian Meek (Co-Founder & CTO): Former CTO of STRIVR Labs (VR training platform) and former General Manager of Engineering at Skype, combining technical leadership in communications and immersive technology.
● Pat Fives (Chief Product Officer): Crypto developer since 2012 and former Houseparty engineer, building the decentralized protocol and messaging backbone.
● Serge Khorun (Protocol Lead): Former senior Google engineer specializing in distributed systems.
● Austin Ellis (Application Lead): Former Epic Games social features lead (Fortnite).
The team consists of 25 people (17 technical, 3 marketing), with experience from social platforms and technical expertise in real-time communication and decentralization.
What VCs Back Towns Protocol (TOWNS)?
Towns Protocol has raised $46 million across multiple rounds from leading venture capital firms.
Funding Breakdown:
● Seed Round (February 2020): $8 million, $27 million valuation, led by Benchmark
● Series A (February 2022): $25 million, $125 million valuation, led by a16z Crypto
● Series B (February 2025): $10 million, $250 million valuation, led by a16z + Coinbase Ventures
● Pre-Launch (April 2025): $3 million, $250 million valuation, Echo.xyz + Jump Trading
Major Venture Capital Backers:
● Andreessen Horowitz (a16z crypto) (Lead in Series A and B)
● Coinbase Ventures
● Benchmark
● Framework Ventures
● Echo.xyz SPV
● Signia Ventures
● K5 Global
● Jump Crypto
Market Makers:
Jump Trading and TopHash serve as primary market makers, with Flow Traders handling European exchanges.
How Towns Protocol (TOWNS) Works
Towns Protocol operates through core technologies that democratize community building and communication:
Decentralized Spaces Creation
Users can create "Spaces" (group chat spaces) without permission, supporting both private and public configurations. Spaces support token gating, allowing entry based on NFT ownership or other token-based criteria.
Monetization and Membership
Creators can sell on-chain memberships through subscription models, with users able to tip and trade within the platform. Membership and ownership are recorded on the Base blockchain, ensuring transparency and permanence through smart contracts.
Security and Infrastructure
The platform offers end-to-end encryption for message privacy and stores data across distributed stream nodes rather than centralized servers. This architecture enhances privacy and reduces censorship risks.
You can access the platform at towns.com and app.towns.com, with documentation available at docs.towns.com.
Towns Protocol Token (TOWNS) and Economics
The TOWNS token serves as the native utility and governance token powering the Towns Protocol ecosystem.
Token Details
● Token Name: TOWNS
● Token Symbol: TOWNS
● Total Supply: 10,000,000,000 tokens (10 billion)
● Blockchain Deployment: ERC-20 on Base L2 and Ethereum mainnet
● Base Contract Address: 0xd6b8e7714fd2f492b183c5fe4f0a0ef276d05310
● Initial Circulating Supply: 14.3% (1.43 billion tokens)
Source: WhalesPRO
Token Distribution
● Community Reserves: 43.70% (0% at TGE, 12-month cliff, 36-month vesting)
● Team/Treasury: 21.73% (0% at TGE, 12-month cliff, 24-month vesting)
● Investors: 16.57% (0% at TGE, various cliffs 6-12 months, 18-24 month vesting)
● Airdrop: 10.00% (50% at TGE, remaining over 10 months)
● Nodes: 8.00% (12% at TGE, ongoing rewards)
Token Utilities
● Governance: Vote on platform proposals and protocol upgrades through Towns DAO
● Staking/Delegation: Stake tokens to node operators and earn network rewards
● Space Monetization: Enable payments, access gating, and economic activity within Spaces
● Tipping and Rewards: Send tips to creators and community members
● Network Security: Support distributed messaging infrastructure through node operation
Potential Token Holders
● Total Eligible: Approximately 50,000 users (filtered from 1.46 million total users)
● Selection Criteria: High-value participants based on engagement and contribution metrics
Why Towns Protocol?
Traditional social platforms face centralization risks, monetization difficulties, and user discovery challenges. Towns Protocol addresses these issues:
Proven Leadership: Founded by Ben Rubin, creator of Houseparty (150M users, Epic acquisition) and Meerkat (20M users), with team experience from Epic Games, Google, and Skype.
Strong Funding: $46 million raised from a16z crypto, Coinbase Ventures, and Benchmark across multiple rounds.
Live Revenue Performance: Platform generating over $75,000 daily revenue with $30+ million total revenue, demonstrating sustainable economics through space subscriptions and transaction fees.
Large User Base: 1.46 million users with 387,784 spaces created, showing market adoption and platform utility.
Base L2 Integration: Built on Base with EVM compatibility, distributed stream nodes, and on-chain smart contracts ensuring scalability and security.
Web3 Discord Alternative: Positioned as the leading decentralized alternative to centralized communication platforms, solving ownership and monetization issues.
Towns Protocol combines proven leadership, live revenue generation, and decentralized infrastructure to create sustainable Web3 communication with real user adoption.
TOWNS Goes Live on Bitget
We are excited to announce that TOWNS will be listed on Bitget! Check out the details below:
Trading Available: 5 August 2025, 14:30 (UTC)
Withdrawal Available: 6 August 2025, 15:30 (UTC)
Trade TOWNS/USDT on Bitget!
TOWNS Goes Live on Bitget Launchpool — lock BGB and TOWNS to share 16,340,000 TOWNS
Bitget Launchpool will be listing Towns Protocol (TOWNS). Eligible users can lock BGB and TOWNS to share 16,340,000 TOWNS.
Locking period: 6 August 2025, 06:00 – 10 August 2025, 06:00 (UTC)
Lock Now!
Contract Address (Base): 0xd6b8e7714fd2f492b183c5fe4f0a0ef276d05310
Community Links: Website | Twitter | Documentation
Disclaimer: The opinions expressed in this article are for informational purposes only. This article does not constitute an endorsement of any of the products and services discussed or investment, financial, or trading advice. Qualified professionals should be consulted prior to making financial decisions.
