Written by Zach Quezada

Business Development  |  ICO Alert
January 31 2018

Tokenomy (TEN) — ICO Alert Report

Tokenomy (TEN) — ICO Alert Report

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ICO Alert Quick Facts

  1. Global token platform for crowdfunding, loyalty points, and reward programs.
  2. Main ICO: 1 BTC = 60,000 TEN tokens; 
    Post ICO sale: 1 BTC = 40,000 TEN tokens
  3. Main ICO: January 15, 2018 — February 5, 2018; 
    Post ICO: February 5, 2018 — February 12, 2018
  4. 110 million total available / 200 million total supply
  5. More than $8,000,000 raised already

What is Tokenomy?

The founders of Tokenomy are the founding members of Bitcoin.co.id (Bitcoin Indonesia), the biggest digital asset marketplace in Southeast Asia with over 900,000 active users and over $2 billion USD in monthly trading volume.
The team aims to foster financial inclusion and provide access to anyone who wants to be connected with alternative funding networks and global innovation.
The prime product for Tokenomy.com is a crypto-to-crypto exchange, focusing on the untapped and rapidly increasing cryptocurrency demands in Southeast Asia.
What makes Tokenomy.com standout among other exchanges is its one-stop tokenization platform, allowing anyone to issue their own tokens and hold their own token sales on the platform. These tokens will be listed on Tokenomy.com’s exchange for trading as well.
Moreover, equipped with a shared log-in with Bitcoin.co.id, Tokenomy.com will be accessible to nearly 1 million users from day one.
The goal is to offer a global token market access on one hand, and the ability for anyone, from small entrepreneurs to large enterprise businesses, to issue proprietary tokens and plug themselves into crypto liquidity pool for reliable and easy crowdfunding on the other.
— Oscar Darmawan | CEO

ICO Alert: How does the Tokenomy token (TEN) function within the platform and why is it needed?

Darmawan: TEN plays a critical role in Tokenomy’s ecosystem, enabling users to access the service’s key features.
For example, for a user to issue his or her own tokens on the platform, TEN is needed to submit an application. Another example is that TEN tokens can be used to obtain a discount on trading fees on Tokenomy’s exchange, much like how BNB tokens work on Binance.
Here is the full list of utility of TEN:
Discounts on Trading Fees
User gets % discount on trading fees on Tokenomy’s exchange by using TEN
Trading Tokens
All the tokens listed on Tokenomy’s exchange platform will have a TEN pairing
Token Purchase
TEN can be used to buy tokens in token sales held on Tokenomy
Token Proposal Application
To submit an application to issue a token, the payment must be made in TEN
Affiliate Programs
Token Listings
New tokens can be listed on Tokenomy’s exchange by paying for the fees in TEN
In addition, Tokenomy has partnered with Bitcoin.co.id, allowing the users of Bitcoin.co.id to get a discount on the trading fees by using TEN.

ICO Alert: What is the benefit of using blockchain technology for crowdfunding, loyalty points and reward programs?

Darmawan: Using Tokenomy’s platform, a company with loyalty points can create tokens that represent those points. This enables Tokenomy to provide a marketplace for such loyalty point tokens; a user can exchange loyalty point tokens of an airline with those of a shopping store, for instance. Bridging multiple loyalty points between companies that have different interests without the use of blockchain will have many challenges in terms of conflict interest and domestic regulation. Blockchain as a neutral public ledger will help to bring together the reward programs and loyalty points of multiple companies onto one platform and make them exchangeable.

ICO Alert: What is your strategy and projections for growing/scaling the user base?

Darmawan: Although our service will be available to users worldwide, building upon the experience on operating and growing Bitcoin Indonesia. Tokenomy will have a shared log-in with Bitcoin.co.id. This means that Tokenomy’s platform will be accessible to nearly 1 million users from day one.
Our initial focus will be on Southeast Asia, where the cryptocurrency demand is rapidly growing, but largely untapped. Southeast Asia has a population of 1.6 billion people, accounting for 15% of the world population. We believe that the region has a huge potential. We will continue to invest a significant amount of our efforts into marketing in the Southeast Asian market through education, crypto association, and our business connections.

ICO Alert: Who do you see as your biggest competitors in this space and how are you planing to penetrate their market share?

Darmawan: We understand there are a few competitors out there, such as Coin Starter. However, we believe we are different and unique for 3 reasons and such differentiations will appeal to potential users.
Firstly, when Tokenomy users wish to create their own tokens and hold token sale on the platform, we have a team of legal advisors and specialists in specific fields who will review the token proposals. They will ensure that the token sales held on Tokenomy are legitimate and legally-compliant, ensuring that our users are exposed to projects which have undergone extensive reviews.
Secondly, our platform offers both an exchange and a tokenization platform, meaning that tokens created on our platform will be listed on the exchange and become tradable with other assets. This is a unique aspect as it provides liquidity to the tokens, rather than simple crowdfunding.
Thirdly, the founders of Tokenomy are the founding members of Bitcoin.co.id, the biggest cryptocurrency exchange in Southeast Asia. The team will use this experience to its advantage and focus on penetrating the Southeast Asian market.

ICO Alert: You mention that you will help clients with tokenization and security. Can you provide more details on handling all technical aspects and maintaining security?

Darmawan: We ensure that our users are presented only with legitimate tokens. We do this by having an internal team of auditors to review each token proposal submitted by our users.
Moreover, creating tokens can be a long and exhausting process, espcially for those who have little or no experience with smart contracts and blockchain.
Generation of tokens is going to be all handled by our technical experts, with the CTO, who led the development of bitcoin.co.id, managing the team.

ICO Alert: How far along is the project today and when can contributors expect to use the platform? Is the beta version available for potential users right now?

Darmawan: The development of Tokenomy’s is on track. The users can expect to use Tokenomy’s exchange, followed by the tokenization platform, in Q2 of this year.

ICO Alert: As a non-Tokenomy question, we like to ask for unique predictions for the ICO and cryptocurrency space in the future. Where do you see both in the next 3–5 years?

Darmawan: I believe cryptocurrency will remain in the market, but governments will start applying rules and regulations to those cryptocurrency-related businesses, such as special licenses required for operation and complying with Anti Money Laundering policy. In the next three years, governments will not be thinking about banning cryptocurrency as they will finally understand that such action will only make the cryptocurrency transactions go into underground and unmonitored.
The same with ICOs, ICOs will become more mainstream and regulated. Certain laws and guidelines will be published related to ICOs, just like how cryptocurrency exchanges are starting to become regulated in some countries. And one thing for sure, the quality of ICO projects will be greatly improved especially after the current wave of ICOs fail to deliver on their promises; the market will learn from the experience and only follow and trust very solid ICO projects in the future.

Pre-ICO Information
The Pre-ICO took place on January 8, 2018 and ended on January 15, 2018.

There was a total of 40 million Tokenomy tokens (TEN) available during the Pre-ICO, representing 20% of the total TEN supply. A hard cap of 40 million TEN is set for this period.

1 BTC = 80,000 TEN token

Round 1 Information
The main ICO began on January 15, 2018 and will end on February 5, 2018. There are a total of 60 million Tokenomy tokens (TEN) available during the main ICO, representing 30% of the total TEN supply. A hard cap of 60 million TEN is set for this period.

1 BTC = 60,000 TEN token

Round 2 Information
The Post-ICO sale will begin on February 5, 2018 and end on February 12, 2018.

There will be a total of 10 million Tokenomy tokens (TEN) available during the Post-ICO sale, representing 5% of the total TEN supply. A hard cap of 10 million TEN is set for this period.

1 BTC = 40,000 TEN token

Tokenomy currently accepts Ethereum and Bitcoin on the following website: token.tokenomy.com. A step-by-step guide for purchasing TEN tokens can be found here. Tokenomy is an ERC-20 token, so it’s important that contributors use ERC-20 compatible wallets to send funds to the ICO smart contract, and to receive the Tokenomy tokens.

Allocation

55% ICO: (20% Pre-ICO; 30% ICO round 1; 5% ICO round 2)
45% Company: approximately 
12.2% used for bounty and affiliate commission; 
Remainder will be locked for six months.

Token Distribution Information
There are a total 200 million TEN tokens being created, with 110 million available during main ICO.

Contributors will have their tokens distributed shortly after the end of the ICO. Visit the Tokenomy website for more information and the contribution address.

Use of ICO Proceeds
The proceeds will be used to develop the Tokenomy platform both as an exchange and tokenization platform. They will also be used for marketing the product and business development to establish numerous partnerships.

Roadmap
Q1 2018

  • Tokenomy will launch ERC-20 tokens called “TEN” on top of the Ethereum platform.
  • TEN tokens will be launched and are available to purchase in three different periods: ITS — Tranche 1, ITS — Tranche 2, and ITS — Tranche 3 during the first quarter.

Q2 2018

  • Tokenomy will launch an exchange platform to facilitate various kinds of token trading where any tokens can be listed in the Tokenomy token exchange and users can easily trade them.
  • Tokenomy will launch creating token services for public. People will be able to issue their own ERC-20 tokens using the help of Tokenomy, all the way from the technical aspects to marketing.
  • Primary market for these ERC-20 tokens will be available during this quarter.

Q3 2018

  • Tokenomy will begin to accept clients that want to facilitate token sales using Tokenomy’s platform.

Team

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BitcoinTalk [ANN]

View the Tokenomy website here.

View the only comprehensive list of active and upcoming Initial Coin Offerings (ICOs) here.

References

  1. Tokenomy Website, Tokenomy (2018)
    https://www.tokenomy.com/en
  2. Tokenomy Whitepaper, Tokenomy (2018)
    https://www.tokenomy.com/whitepaper/TOKENOMY_WP_en.pdf

Topics: Fintech, Blockchain, ICO, Cryptocurrency, Finance