On September 30th 2020, we had an AMA with TKNT - the evolution of Defi wallet platform with Bet-mining token on Telegram.
At CryptoFamily Group, the CEO of the project – Benjamin Woo – went live to greet the community and gave insights to topics about Bet-mining token of the DeFi wallet platform, and share some hot event of TKNT in the upcoming time.
Time: 20:00 GMT+7 30/09/2020 at https://t.me/CryptoFamilyGroup
Airdrop 100$ including 2 parts:
– 5 Questions in Google Form (10$ each)
– 10 Questions in free-asking (10$ each)
Here I would like to write a summary of the main points of the AMA session:
CF: First, could you please introduce briefly about yourself and TKNT project? Like what are the strengths and weaknesses of TKNT, and the milestones that TKNT has achieved up to now ?
TKNT: My name is Benjamin Woo, CEO of TKNT Foundation. Other than this I am operating a Blockchain Venture Captial. Investment, and incubating various blockchain platforms in South Korea. I have worked in this field for the past 5 years and have invested in over 150 projects.TKNT is a project we are focusing on these days because it follows the trend of very unique and new concept of Bet-Mining and Defi. TKNT is a platform that provides Defi services with an ERC-20 based utility token.
Starting with the launch of the decentralized staking service in couple of days, TKNT will introduce a variety of Defi products such as lending, staking and swaps within the TKNT platform.
Strength.. we didn’t do the ICO or private sale. And by only doing bet-mining, you will be able to get the token. Other than this, you need to go to the exchanges to purchase. By doing this, it is easy to control the overall supply of the token, which means it can make the value of the token high.The total issuance of TKNT is 1 billion. 60% of 1 billion, or 600 million, can be played on TKNT-compatible gaming dapps (for example, TKN.COM), where you can mine TKNT.
Currently, the 1st double half-life has passed in early September, where 1TKNT can now be mined for 8USDT bets. The next half-life is expected around December 2020, at the current rate. In the case of bitcoin mining or POS rewards, usually expensive hardware or large capital is required for staking (e.g., 32 Ethereum), whereas these factors are not mandatory conditions for bet mining.Although TKNT is not an STO token, we believe that each TKNT token holder is a shareholder of the TKNT Foundation.
The amount distributed to the team and partners has a lock-up period of at least 3 months, with 5% releasing period per months for 20 months. Existing tokens and future tokens will enter the automatic staking and swap pool for one year. This will prevent unexpected tokens from being released to the market.In addition, through collaboration with TKN.COM, the TKNT Foundation buy-back and burns 15% of TKN.COM’s commission income every month from the exchange. Through these methods, we plan to create the value of TKNT, and the incinerated tokens will be sent to the address 0x000000000000000000000000000000000000dead, blackhole address. This will be continuously notified through the website and official channels.
Finally, TKNT achieved quite many things after it launched in the market. 400 times raise in 7 days (now is actually good time to buy in the market as the price decreased due to some reasons, haha), listing in global exchange, several communities like China, Korea, Indonesia, Bangladesh, India, Europe, etc. and many others. We believe those are from our users’ interest.
Now we have about 3 months until the end of this year, but TKNT has done and grown massively throughout the month. The technical team will work with UYT to improve the completeness of the platform currently being developed and complete the cross-chain Defi mechanism through an independent blockchain, and the marketing team will secure strong users in Asian markets including China, Korea, Vietnam, Indonesia, Thailand, etc. After that, we plan to focus on the European and South American markets. Accordingly, we plan to further list on bigger exchanges. To this end, we plan to publicize the project through offline and online events around the world.
CF: Thank you for your detailed instructions. Now move on to the next question.Could you please tell me something about the occasion that brought you to the blockchain industry and TKNT project?
TKNT: TKNT provides Defi wallet service within its own platform. Currently, the Defi market is over $4 billion, and 87% of the Defi market is locked up on the Ethereum blockchain. However, Ethereum’s dominance accounts for only 12% of all cryptocurrencies. Currently, it is proceeding on the Ethereum blockchain, but through collaboration with UYT, which has successfully developed its own blockchain using Polkadot’s substrate technology, TKNT also has its own blockchain technology and can always be moved to another mainnet. By integrating a decentralized liquidity pool, we plan to enable cross-chain lending and lending with built-in synthetic assets, and use various mechanisms to ensure maximum liquidity. In other words, it will be the best Defi platform that can be integrated and used by users of major crypto assets such as BTC, ETH, DOT, EOS that were previously isolated.
CF: And the last question of Part 1. Mr. @Benus2018 , please share with us some hot events of TKNT in the near future.
Our foundation has people from various countries including Europe, the United States, China, Korea, Japan, and Mexico. Therefore, we have a promotional strategy tailored to each country.
Although the technology is crucial, the platform is untact without strong marketing. We have a very strong marketing team to disclose the project to the world. Our marketing team educates people about what Defi is, how easy it is to use, and what benefits it can benefit from.We will convey the best of our project according to today’s trend to have people easily use our platform, bet and mine TKNT, and stake and pay with TKNTFrom our first Bangkok offline event 2 weeks ago, there will be hot and big-sized events in China on 14th Oct after Moon festival, with UYT group. And much more roadshows are planned as well as various online events. We will announce through the official channels. Please stay tuned..!
CF: Thanks for all the useful information above. I believe all the members here would love to hear more about the project, and they have many questions submitted to our Google form today.
I have picked up 5 good answers in the form for you to answer them directly here in this group. So Mr. @Benus2018 take your time, please!
1. How does TKNT Foundation plan to dominate the DeFi market? @concutrangxoa
TKNT: No need to dominate the market 😊 We just provide a best user case for our users and it can create many people to join in our pool. We need more competition. And it will make Defi market even hotter.
CF: What a clever answer!
2. Trust is very important in business. So, what makes investors, customers and users feel safe when working with TKNT? @tranthingocanhh
TKNT: TKNT is a Defi wallet platform and is partnering with TKN.COM, the global No. 1 cross-blockchain Defi gaming dapp. TKNT receives technical support from Defitech, made up of white hackers, and operating inner and outer tech team simultaneously. We recieved certification from Certik. To briefly talk about partner company TKN.COM, the protocol service of Betprotocol (BEPRO), which operates in partnership with large blockchain companies such as Chainlink and Band Protocol, is operated with Bitgo’s consignment service and 10 million dollar insurance.
As you can see, we are fully licensed and risk-hedged platform. You can feel free to use our service.
CF: 3. Recently you’ve made some huge partnerships, such as with Alameda and FTX. Could you please tell us more about these partnerships and how do you expect them to benefit TKNT’s ecosystem? @tuntun112
TKNT: We didn’t make partnership with those. Haha. But as you said, we made some even huge partnerships with other big corporations. For example, UYT group is one of the biggest Chinese crypto community and foundation which are focusing on Polkadot substrate Mainnet. They have over 300,000 real investors offline. Our partnership with them can make our successful launch on China, and also TKNT’s Crosschain Defi development with UYT. And there are many more partnerships you can find from our official community. https://t.me/tknt_official
CF: 4. Can you tell me the story behind the name #TKNT? Why do you choose this name? @soideptrai
TKNT: Very simple. Easy to remember. TKN is abbreviation of Token. So, it is Token Token. Token Token Defi Platform. TKNT. Thank you.
CF: And the last question in Part 2 today5. Many DEFI project coins have dropped dramatically over the past week. What is the TKNT project doing to make a difference and provide users with a better experience? @cryotoman
TKNT: TKNT will be an optimized platform for users who are looking for any decentralized financial service such as lending, staking, swap, insurance, etc. Originally, there was no concept of returning profits in Defi. However, starting with Compound platform, they have recently been rewarding their governance tokens. Of course, you can build yield farming within our platform as well. However, while Defi projects use it for promotion to increase their TVL (Total Deposit Volume), TKNT does not require unreasonable interest payment for it can be simply mined through Bet-Mining at TKN.COM, active within existing user base. Plus the value of the token continues to rise due to the half-life coming from Bet-Mining.
And user experience will be the most important thing that we are taking care of. In couple of days, you will see our first product; Defi wallet and staking. It will be very simple, easy to proceed like our name TKNT.
CF: That’s the end of Part 2. I believe all of the members here have gathered enough useful information, also they have many questions to exchange with you today @Benus2018.Part 3 will include free-asking questions.
In this part, all members will have 2 minutes to make questions for @Benus2018 today.
Feel free to ask and Mar. Ben will explain gradually in his answers.
(3 minutes later…) Wow, nearly 4000 questions! Just can’t imagine…@Benus2018 you can choose 5 good questions and answer them directly.
1. What Features of TKNT I must have to share to my friends so my friends will believe me that TKNT is very great?
TKNT: TKNT will be the most sexy project of this year. haha. TKNT can be mined by playing games at tkn.com. It is easy to promote. Also you can get some referral bonus by referrering your friend.
2. GREAT PROJECTHOW CAN I SUPPORT YOU?
TKNT: Anyway you can support us. We need everyone’s help. If there is anyone who would like to be ambassador or lead communities, please let us know. Other than that, we are waiting your feedback for better community.
3. How do you see the future of TKNT in 5 years to come do you feel it will continue to grow till it achieves it’s ultimate goals or do you see the probability of competitions over taken TKNT due to current challenges that you are facing?
TKNT: TKNT in 5 years. Good question. Thanks. First of all, in 5 months, we are planning to launch every features for Defi platform. And list in big exchanges, such as Upbit in Korea, Binance in global, etc. After that, as we mentioned, we will be able to show you the first crosschain Defi with our own mainnet. Our mainnet is already developed but we are using erc-20 as we are seeking at the right timing to move. One day, it will be the best Defi platform that can be integrated and used by users of major crypto assets such as BTC, ETH, DOT, EOS that were previously isolated.
4. And what is your vision and mission now?Does the price of the token matter to you from an operational perspective, if the token price is $1 or $100?
TKNT: Yes. For us, the price of token is very important as we know our users are focusing on the token price. That’s why TKNT’s ecosystem and policies are focusing on valuing up the TKNT price. Monthly buyback and burn policy, limitation of supply, staking policy, etc.
5. What is the different of mining betting than gambling platform?
TKNT: Bet-Mining is better word. Gambling platform is gambling platform as you know. Bet-mining is one of the mining method by betting. So you can mine TKNT while you are playing game.
CF: Thank you for providing useful information @Benus2018. Seems like there’re many things to discuss, but I’m afraid the time is up now. Also Mr. Ben has finished all of his answers.
For all of the questions that have not been answered yet, feel free to search for more information on the links as Mr. Ben provided above.
@Benus2018 Thank you so much for taking your time joining AMA with CryptoFamily group today, we all hope TKNT will gain more and more success in the future! Goodbye and see you soon!
If anyone has other questions, you can join and contact directly with TKNT at: