Here’s our 115th AMA recap!
Thank you to the Infinity Chain for participating in Ask Me Anything (AMA) with Toko Crypto August 18, 2021. This guest star,
- Chung Ying Lai — Chief Strategic Officer (CSO) Tokocrypto
Introduction
Chung Ying :
Hi everyone. My name is Chung Ying and I am the CSO for Tokocrypto. In terms of the blockchain ecosystem, I am the chairman of a few leading events in the industry namely the INBLOCKS Conference, the Indonesia Blockchain Week (IBW) and the Indonesia Blockchain Week (IBW) Binance Smart Chain Summit.
Currently im also the one leading the TokoMall initiative for Tokocrypto NFT marketplace =)
QUESTIONS MODERATOR
Starting with the very basics, can you provide a simple description Toko Token (TKO) for our community?Chung Ying :
ah ok, this is always my favourite starting point haha
TKO token serves as the main driver of Tokocrypto blockchain ecosystem, it currently allows users to participate in Tokocrypto exchange programs, staking and locking programs, cross-platform DeFi applications, and TokoMall NFT marketplaces. But in future, Tokocrypto aims to bring TKO token to become the centerpiece of the Indonesia Blockchain Ecosystem.
it is actually lauched earlier this year during april and has broken all binance launchpad records interm of participants and value pegged =)
Who are TKO competitors? What are the advantages of TKO, on the other hand?Chung Ying :
In my own opinion wise, i dont thinking TKO have any direct competitors as TKO’s unique hybrid token model which combines CeFi and DeFi is one of its kind in the market. As for indirect competitors in the form of other utility exchange tokens, TKO has positioned ourselve to provide more value to our holders and allow them to get the best of both the CeFi and DeFi domains by harnessing the systemic stability of CeFi while maximizing the innovative flexibility of DeFi. This uniqueness is the key advantage for TKO.
and combining it to be the main driving token for our Tokomall nft marketplace further expand the advantages of TKO
What are the CeFi, DeFi and NFT elements in TKO?Chung Ying :
The CeFi elements of TKO takes the form of TKO programs such as TKO Daily quest, TKO Lockings & Staking, TKO Learn & earn on both centralized platforms such as Tokocrypto, Kriptoversity & Binance. whereas the DeFi elements of TKO involves the integration of TKO with third-party DeFi platforms via farming pools, lending & borrowing, such as PancakeSwap and ForTube.
As for the NFT elements of TKO, do watch out for the upcoming launch of our TokoMall on 19 August 2021, which is just tomorrow, whereby TokoMall’s 3 caterories of NFT TKO Original, Lifestyle & Creative will be available for user to redeem with TKO. We will be doing a live talk show for the launch =)
Where is the TKO token currently listed?Chung Ying :
TKO is currently listed on Binance, Gate.io, WazirX, PancakeSwap, CoinEx, CoinDCX, DCoin, BKEX, Bibox, Hoo, ZT, WBF Exchange, Bilaxy and of course Tokocrypto. We will be looking to list TKOs on more exchanges and platforms in time to come, so do stay tuned.
these infomation will also be updated in coinmarketcap in real time =)
What are the major milestones TKO achieved so far & what are in future pipeline?Chung Ying :
I would say the first TKO’s major milestone was achieved on the very day it was launched on the Binance Launchpad i.e. on 7 April 2021 which resulted in a record-breaking 50,000% over subscription from 201,406 individuals, with a total of 10,502,201 BNB (approximately USD4 billion in value based on the price of BNB on 7 April 2021) subscribed for the launch. Besides that, we have also successfully hosted the IBW <> BSC Summit 2021 in March and more recently the T.K.O Summit 2021 in July.
the launch is definitely a big milestone haha
With regards to next milestones will be on the charity side, we are currently organizing Charity Auction under our TokoCare initiative whereby items belonging to prominent public figures will be auctioned off with the proceeds going to those whose lives have been ravaged by the pandemic through crowdfunding platform BenihBaik.com. For now we already participated in 3 charity fund raising events =)
As for next what’s in the pipeline, you should watch out for the upcoming launch of our TokoMall on 19 August 2021 as our NFT marketplace. Our users can find all sorts of exclusive NFT on Tokomall that we lauching with many indonesia brands. We are also planning to do charity with NFT through tokomall too =)
By the end of 2022, TKO is set to be integrated with an umbrella of CeFi and DeFi products, backed by Tokocrypto’s mobile app and ecosystem. Long story short, there are certainly a lot of things in the pipeline which TKO users can look forward to in time to come.
QUESTIONS TWITTER
Has TKO completed permits and regulations in Indonesia regarding crypto? If so, can you talk about this issue, as many investors know who are interested in projects or platforms that are open about security, regulation and transparency? How reliable and safe is TKO?https://twitter.com/MissUnicorn299/status/1427201287699931140?s=19
Chung Ying :
Tokocrypto in November 2019 became the first entity in Indonesia to be registered under the Commodity Futures Trading Regulatory Agency Indonesia (BAPPEBTI). In terms of security and reliability, Tokocrypto’s data information system is certified with ISO 27001 and we are the only crypto exchange in Indonesia which cloud management system is certified with ISO 27017. Hence, TKO holders and Tokocrypto user can be rest assured about their investments as Tokocrypto’s operational systems are literally fool-proof.
further more we are partnering with binance as our tech partner which is why interm of technology wise we are definitely world class standard
moving on to TKO token
Regarding TKO regulation wise, TKO is already in the BAPPEBTI list of approved crypto asset that is allowed to be listed in Indonesia exchange. For security of TKO wise, TKO token smart contract is audited by Certik which is the world leading smartcontract auditor in the world. The security of TKO and our platforms are definitely also world class.
When the market is going down and many new projects are selling their USDT to withdraw money due to revenue generation issues, what is your future plan to generate revenue for seamless operations? Can you talk about TKO Coin? Is TKO coin one of Tokocrypto’s greatest strengths?https://twitter.com/Lidiamga/status/1426038630154313733?s=19
Chung Ying :
We at Tokocrypto firmly believes in reinvesting our profits back to our business to further enhance its value, Tokocrypto begins during the 2018 bear market and we have continue to improve ourselve and offer more to the industry ever since we are launched. We have big commitment to grow the indonesia blockchain space which can be seen in so many of the new initiatives being launched. In terms of revenue generation, as of July 2021 Tokocrypto has generated USD10 million in annualized profits by charging only 0.1% transaction fees on the transaction volume undertaken through our exchange.
As for TKO, it is certainly Tokocrypto’s pride and joy as it has opened up a whole new world of possibilities in terms of our suite of service which can be offered to Tokonauts from Indonesia and around the world. From a functional perspective, TKO has allowed Tokocrypto to spread its wings beyond Indonesia to the rest of the world.
As mentioned earlier, we planned to grow TKO to become the center of indonesia blockchain ecossystem in near future =)
On your website you present Tokocrypto as the first The Holistic Blockchain Ecosystem in Indonesia, can you tell us about what drove you to create this project? And what kind of difficulties or problems you faced during this process?https://twitter.com/KiyokoSumaru/status/1426186526820429836?s=19
Chung Ying :
i think in the beginning its really about what we want to contribute to the community which driven us to kick start tokocrypto. For example, during 2017/2018, there is a lack of exchanges in Indonesia for the crypto community to invest into crypto, that is why we began as an exchange.
Moving on we know that crypto is not just about trading but also about building the adoption and usage of blockchain, which then bring us to create TKO token
and once we have TKO token, we thought of how should we use TKO to growth the blockchain adoption which thus lead us to TokoMall, Toko Launchpad, Toko Care and also upcoming Toko Swap
and we are also actively in showing the capacity and use cases of blockchin to the different partners we have
for example, for the oxygen donation that tokocrypto i leading now, we actually built a simple blockchain tracking system to ensure that blockchin is useful for the logistic industry
The main challenge that we faced in this regard was in relation to the building awareness about blockchain in general and cryptocurrency in particular though this is perfectly understandable as blockchain is a technology which is still very much in a developmental stage whereas cryptocurrency is still relatively quite new to the general public.
And internally will be onboarding new talents who fits the vision and initiative that tokocrypto want to achieve. We always wants to find the right talent who shared our visions to join the team in bringing Indonesia blockchian ecosystem to greatness =)
feel free to approach our human resource team if you are keen to join the tema too =)
How big and strong is your community? do you have community for non english users?Is your project a local project or a global project ? Can anyone use your services from anywhere in the world? Is there any restrictions of using your service?https://twitter.com/SyminuL/status/1426454808186081285?s=19
Chung Ying :
Our official TKO token global announcement TG channel has 26k+ subscribers whereas our official TKO token global discussion TG channel has 63k+ subscribers (@tkogroupofficial). TKO is a global project whereby anyone from any part of the world can trade TKO through any of the exchanges on which TKO is listed subject to any restriction in terms of the geographical availability of the services of these exchanges.
For local bahasa language, we also have our Tokocrypto exchange channels which will be mainly in local bahasa language =)
for the Tokomall platform, we are opened to users from everywhere around the world, what you need is just a BSC wallet on metamask to start using it starting from tomorrow =)
TKO is launched in BSC platform , which offers many advantages but do you plan to launch in other platforms as well? How effective is TKO regarding interoperability between blockchain?https://twitter.com/Albertjaison2/status/1425829568384958477?s=19
Chung Ying :
We actually did a lot of pros and cons weighing during the beginning planning stage actually. BSC was chosen as the platform for TKO on the basis that BSC is a state-of-the-art blockchain network which offers utmost security and unparalleled flexibility. It is also fast and cheaper than most platform which thus makes it ideal for Indonesia large userbase. Precisely because the BSC platform boasts smart contract functionality and operational compatibility with the Ethereum Virtual Machine (EVM), tokens such as TKO which are launched on the BSC platform can be integrated with the rich universe of Ethereum tools and DApps. This has allowed Binance to launch its Bridge Project which has increased interoperability between different blockchains of BSC-based tokens such as TKO.
haha sorry, i think my explaination used many technical terms
More about the Binance Bridge Project it actually lets anyone convert selected coins into wrapped tokens (or “pegged tokens”) to be used on Binance Chain and Binance Smart Chain. This brings digital assets such as BTC, ETH, USDT, LTC, XRP, LINK, ATOM, DOT, XTZ, ONT, and more to the Binance Chain ecosystem””. In this manner BSC-based tokens such as TKO can have fluid interactions with tokens from other blockchains thereby enhancing TKO’s degree of interoperability between blockchains. With such a high degree of interoperability between blockchains, there is not much of a need to launch TKO on other platforms.
QUESTIONS TELEGRAM
Nowdays So many Rug Pulls and exit scam happening . How Users can trust your project and How you are different from others?Chung Ying :
i think for us, the trust that our user rely on is definitely the reputation that Tokocrypto has built over the last few years
and we are also legally regulated by Indonesia regulators. Furthermore, the information of core teams of the company are also publicly available unlike so many rug pull projects who doesnt show their face to the public
Can Monsters Clan NFTs be traded on secondary markets or external NFT marketplaces like Binance NFT Marketplace?Chung Ying :
for our NFT marketplace we are definitely welcome to allow other platforms NFT to be traded on us too. Ultimately we want to create a healthy and friendly relationship with other platforms too and to grow the industry together
Southeast Asia is a very vibrant market and there are many new platforms under development. So what do you think about Southeast Asia and do you have plans to grow there?Chung Ying :
Yes even though TKO token and now tokocrypto is main indonesia focus, we would definitelywant to expand the project to also include SEA especially on our DeFi and NFT initiatives
that is why we already have some team members from Vietnam and also Singapore =)
What companies are you partnered with or seeking to partner with in future ?Chung Ying :
Actually we are open to parnter with any campanies in different ways. For example, for our 1TKO1Indonesia intiatives, we are partnering with different indonesia companies to actually push out crypto adoption in indonesia
for content creators, influencers or indonesia brands, we are also partnering with many of them to become an NFT creator on Tokomall for now
bascially there are many ways that we can partner up and we are always open to it and to explore more =)
Do you have tutorial videos so we can get to know your project more clearly or do you have a YouTube channel or something? can you share it with us?Chung Ying :
haha let me end this with a simple but important question
YES we definitely have many youtube content crreated
- Telegram Chat : https://t.me/tkogroupOFFICIAL
- Telegram Channel : https://t.me/tkochannelofficial
- Twitter : https://twitter.com/tkobytokocrypto
- Website : https://tokoscape.com/
- Instagram : https://www.instagram.com/tkotoken/
- Linkedin : https://www.linkedin.com/company/tokocrypto/
- Facebook : https://www.facebook.com/TCDXOfficial/
Thank you for trusting Infinity Chain as the organizer of the event today, hopefully everyone can understand about Toko Crypto.
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