Namaste Tribe! We had an amazing AMA with Nicole Nguyen, Head of International Marketing at Tokocrypto, in WazirX Telegram group as a part of Grand TKO Giveaway on Thursday, 3rd June 2021. Here’s a quick summary of the session.
Hi Nicole, we are glad to have you here today! Could you introduce yourself and Toko Token?
My name is Nicole Nguyen and I am from Vietnam. Currently I am heading International Marketing at Tokocrypto after 4 years working in various projects around the APAC blockchain scene. Really excited to be here with you guys today!
Tokocrypto launched its token offering (TKO) on Binance with around 200,000 people participating in the offering and a total of around 4.2 billion committed. TKO token offers the first CeDeFi ecosystem as Indonesia’s flagship crypto project and we will be rolling out quite a few exciting initiatives around DeFi, NFT and Swap in the future so please stay tuned!
Q1. Which idea led to the forming of Tokocrypto exchange?
Right from the get-go, we at Tokocrypto have designated trust as the core value of our operational philosophy. We understand that trust is an invaluable commodity as it takes a long time to build but only an instant to break.
That’s why we always endeavor to earnestly help our customers grow their investments because for us, the deposit by our customers of their money with us is effectively a deposit of trust and trust is something that we cherish a lot. This is the idea that led to the forming of Tokocrypto. Fun fact we have a new user every 5 seconds – I believe this speaks volumes about the trust that the community is putting in us.
Q2. What are the advantages of the hybrid CeFi-DeFi model of Toko Token?
From time immemorial, centralized finance (CeFi) has monopolized the global financial system. Notwithstanding the contributions of centralized finance to the development of our modern economy, it has to be said that the centralized mode of operations of financial institutions did cause certain systemic issues not least of which is that of financial exclusion which results in the unbanked not having access to financial services.
It is in this context that decentralized finance (DeFi) comes in with its spirit of democratizing finance whereby access to financial services is deemed as a universal right that is common to all. However, DeFi itself is not without its flaws whereby an oft-repeated criticism of DeFi is the inflexibility of its services due to a lack of cross-chain options.
The main advantage of TKO’s hybrid CeFi-DFi model is that it allows TKO to harness the best of the CeFi and DeFi domains by offering CeFi-like services such as TKO Deposit, TKO Savings, and TKO Cashback while making available cross-platform DeFI services through the integration of TKO’s ecosystem with third-party DeFi platforms via farming pools and lending, etc.
With the rupiah-backed stablecoin Binance IDR (BIDR) functioning as the critical link connecting CeFi and DeFi by serving as a hassle-free onramp and offramp for TKO holders, it is clear that TKO’s comprehensive suite of services has much to offer to the crypto market.
Q3. What are TKO applications in NFT and DeFi space?
For NFT, TKO is set to revolutionize the Indonesian NFT landscape with its TKONFT platform which will serve as Indonesia’s first-of-its-kind marketplace for digital collectibles and creative assets from emerging young artists whereby TKO will be the backbone of the platform by functioning as the payment gateway between creators and audiences.
As for DeFi, TKO is set to incorporate a host of cross-Platform DeFi use case functionalities through the integration of TKO with third-party DeFi platforms via farming pools, lending, and more. I hope some of you would be able to make it to Indonesia later or get to know Indonesia through the sprawling NFT/art scene of the country.
Very excited for your NFT platform, in case you missed it, WazirX NFT marketplace launched a day back too
Congrats WRX team. Never too late to host a joint launch party later.
Q4. The popularity of DeFi this year also reflects the important role that liquidity plays in the market. How does Tokocrypto solve the problem of platform liquidity?
With regard to the issue of liquidity, Tokocrypto has collaborated with the likes such as BakerySwap and PancakeSwap both of which are decentralized exchanges (DEXs) that operate as automated market makers (AMMs). Through our collaboration with these DEXs, TKO holders can kill two birds with one stone by contributing their tokens to these DEXs to enhance the liquidity pools of TKO while obtaining passive income in return for their contributions.
By itself, Tokocrypto is offering a variety of real-life product offerings with real-life values so we are aiming to generate both innate liquidity and liquidity through collaboration with various partners. This is just the dawn of DeFi for Tokocrypto and for all of us I believe.
Q5. Can TKO be used for staking, liquidity mining, and yield farming?
For staking, TKO holders can stake their TKOs with Binance Earn which offers returns of up to 36.49% annual percentage yield (APY). As for liquidity mining and yield farming, Tokocrypto has collaborated with the leading DeFi lending platform ForTube to enable TKO holders to use their tokens for liquidity farming by depositing their TKOs to earn interest or pledging their TKOs as collateral to borrow other assets.
Rest assured that this is just the beginning as we have a slew of collaborative plans in-store to bring maximum rewards for TKO holders. I’d like to share this special announcement with the WRX community – we are planning to launch a much bigger and APAC scale event in June/July and you guys would be the first to hear about it. I hope you could continue to follow Tokocrypto and support our initiatives.
Q6. What are the future real-life applications of TKO like BTC?
At this time TKO token serves as the gateway for mass onboarding of the Indonesian market with the token utility on the Tokocrypto platform. But in the near time, we prepared Tokocrypto to conduct initiatives with future collaboration with DeFi protocols to formulate innovations including but not limited to farming pools, lending, and NFTs.
In Q3 (2022) we plan to launch TKO Lottery and Liquidity Swap. With its success in Indonesia, Tokocrypto plans to use our unique blend of experience and technology to venture into neighboring countries that have a similar economic prospect as Indonesia.
I believe you are all aware that Indonesia has one of the largest and most tech-savvy population in APAC and the world with 270 million people. By providing a gateway for international users to Indonesia, we believe that there are plenty of opportunities for crypto users to tap into the market in Indonesia and APAC in general.
Q7. Explain tokenomics of Toko Token?
In terms of the tokenomics of TKO, it encompasses a wide range of control mechanisms to ensure that the distribution of TKOs would optimize the market value of TKO. These mechanisms include the allocation of TKOs to a foundation treasury which would be vested with a certain amount of TKOs in accordance with the predefined schedule as part of the optimization strategy for TKO. Other than that TKOs are also distributed to the public via private and public sales, community airdrops as well as in the form of mining rewards.
As for the growth and development of TKO, the distribution mechanism includes allocations for its product and marketing purposes as well as provisions for the establishment of partnerships with other players in the ecosystem. The use of its lock-up mechanism ensures that the distribution of TKOs would be in line with the overall business strategy for TKO.
Q8. Does TKO have burn mechanism? If yes, can you explain in detail.
Yes, TKO’s burn mechanism is structured in such a manner whereby every quarter, Tokocrypto will utilize a portion of the trading volume generated on our crypto-to-crypto platform to burn up to 10% of tokens of the total TKO token supply. Rest assured you will be all invited to our next Burn Part.
Q9. Are there any plans to open Tokocrypto exchange to the global community?
Yes, we are currently working on alternative ways to onboard people from outside Indonesia. We will keep the community posted.
Q10. How green is TKO as far as power utilization is concerned?
As a proof-of-stake (PoS) token, TKO is certainly greener than Bitcoin and may even be more energy efficient than other tokens/coins running on proof-of-work (PoW).
Q11. How do you plan to compete with Binance NFT platform and exchange?
We are not competing against the Binance NFT platform and exchange – rather this is a collaborative effort to bring about a world-class products suite and offerings for both local and international users. Still, the crypto market is largely untapped so I believe collaboration instead of competition is the key to mass adoption.
Q12. Who are your potential customers and which markets are you targeting?
We are targeting both coiners and also crypto newbies in Indonesia and APAC. Non-believers are also under our watch as we are keen on educating the market rather than just targeting low-hanging fruits.
Q13. What is the major trust point of TKO and how it can be used to solve problems in real life?
The major trust point of TKO is that it is the first entity in Indonesia to be registered under the Commodity Futures Trading Regulatory Agency Indonesia (BAPPEBTI) in November 2019. According to a 2019 survey by the Financial Services Authority (OJK), Indonesia’s financial inclusion rate stood at 76.1 percent. TKO is set to enhance the level of public trust among Indonesians in cryptocurrency so as to enable it to be used as an instrument to support the promotion of financial inclusion in the country.
Q14. What is your roadmap for DeFi and NFT? How do you leverage Binance to your success?
Through the partnership with Binance, we are leveraging their world-class expertise and infrastructure, and knowledge to provide quality product offerings and support our international outreach. Also, Binance is a strong advocate for community and educational initiatives so this is where our visions on bringing crypto mainstream are aligned.
Q15. We all know TKO is the native token from Tokocrypto. How will TKO compete and survive with the other tokens?
We will stick with our roadmap project to ensure our sustainability and also the utilities of TKO itself. We believe that TKO is created with the preparation to solve current problems and also to contribute more to society. TKO is not only built for Indonesians but also for those who believe in the potentials of crypto and how it can be a game-changer in the financial scene of emerging countries such as Indonesia. We provide a gateway for international users and projects to tap into the Indonesian market but also open up the possibility of regional and global initiatives in bringing crypto to the mass audience.
Q16. What are the benefits of holding TKO token as a long-term investment? Can you tell us about the motivation and benefits for investors to keep your token in the long run?
From the outset, TKO is a long-term project whereby as a utility token its value will similarly grow as our community grows in tandem with the principle of network effects. Hence the theme of our Buy & HODL campaign to raise awareness among TKO investors that keeping our token, in the long run, will bring about a high rate of Return on Capital Employed (ROCE) as we embark on our roadmap for 2023 and beyond.
Q17. Does the project have a special plan to engage and expand the community and improve the user experience?
We have the plan by creating events for our community members so they have exposure to the project that we create. Also, we normally do trading sessions via our youtube channel, our members can raise their questions about current issues on the crypto market and we will discuss them together during the event. Lastly, we will engage with other communities to spread awareness about TKO projects and updates. We plan to release our community token support fund soon to inspire and empower the community to contribute their improvement proposals to Tokocrypto and TKO.
Q18. What affect did it had if Binance was not backing you?
Binance is a strong advocate for community and educational initiatives so this is where our visions on bringing crypto mainstream are aligned. We have been working side by side as partners from the beginning and I believe we have a joint bigger mandate to stick together.
Through the partnership with Binance, we hope to leverage their world class expertise and infrastructure and knowledge to provide quality product offerings and support our international outreach.
Q19. What’s the Indonesian government’s take on crypto?
Currently, the Indonesian Government is supporting the crypto, we even plan to list our company in our Indonesian stock market – which I believe a lot of our members here are already excited about. We work closely with the government to make sure that our products are in line with the latest regulations and in the best interest of Indonesian users.
Q20. How do you look at the future of Tokocrypto in India?
Judging from the responses today I wish we could open our business right away in India
The listing of TKO on WRX has showcased our interest and long-term bet on the Indian market. We will work closely with WRX on upcoming initiatives, incentives, and benefits specifically for the Indian community and this is just the start!
Q21. Is the future Tokocrypto as a place to sell NFT will adopt the TKO as a payment?
We have the plan to add more utility of TKO especially in relating to NFT itself as mentioned on our TKO litepaper. We are about to create a marketplace for NFT, so artists can sell their digital art on NFT Arcade/marketplace. It is a good way for Tokocrypto to provide a platform where digital artists can broaden their marketplace for their art into a digital platform. Any update about the NFT and TKO on its involvement will be announced soon.
Q22. Is TKO backed up by the Indonesian government? What are the future upgrade plans for TKO platform?
Yes, We are legally licenced by Indonesian Financial Regulatory Party (BAPBEPTI). We are having upgrade plans in Q3 & Q4 with more features and product offerings. For more information please check out our lite paper at
Q23. Do you have any event to TKO holders? Can TKO be mined?
There are some events/chances for TKO holders both on Tokocrypto platform and outside Tokocrypto. Recently, we have held a TKO+FOR event for those who have a minimum of 500 TKO to get the reward. On the Binance earn, you can stake your TKO based on the staking period available and get your APY as offered.
Q24. What will be the possible advantages of hybrid currency model of TKO tokens in future?
The main advantage of TKO’s hybrid CeFi-DeFi model is that it allows TKO to harness the best of the CeFi and DeFi domains by offering CeFi-like services such as TKO Deposit, TKO Savings, and TKO Cashback while making available cross-platform DeFi services through the integration of TKO’s ecosystem with third-party DeFi platforms via farming pools and lending etc. With the rupiah-backed stablecoin Binance IDR (BIDR) functioning as the critical link connecting CeFi and DeFi by serving as a hassle-free onramp and offramp for TKO holders, it is clear that TKO’s comprehensive suite of services has much to offer to the crypto market.
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