TKNT Foundation AMA Summary with Decentralized Club ✔️
Dear, Community,
Welcome to the recap of our AMA with TKNT Foundation.
Our vibrant and enthusiastic community had a lot of questions to ask. To those who want to know quickly what TKNT Foundation is about, we are sure this recap is gonna help you. So without further ado, continue reading 😉
✔️Introduction with TKNT Foundation :👉
BILLY:
Q1. Can you please introduce yourself and also tell us a bit about TKNT?
Ben:
My name is Benjamin Woo, CEO of TKNT Foundation. We are operating a Blockchain Venture Captial supporting, investing, 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 September 2020, TKNT introduces a variety of Defi products such as landing, staking and swaps within the TKNT platform. Technical support is provided by Dexfi, made up of various renowed white hackers.
In addition, through a partnership with TKN.COM, the №1 cross-blockchain Defi Gaming Dapps, TKNT can only be mined through games within TKN.COM. There was no ICO or private sale in progress so far.
BILLY:
Sounds innovative 👍👍
Q2. What are some of the key features of TKNT ?
Ben:
TKNT is a platform that provides Defi services with an ERC-20-based utility token. Starting with the launch of a decentralized staking service in September 2020, TKNT will introduce a variety of Defi products such as landing, staking and swaps. Technical support is provided by Dexfi, consisting of renowned white hackers.
Throughout a partnership with TKN.COM, №1 cross-blockchain Defi gaming Dapps, TKNT can bet-mined only through games within TKN.COM. There was no ICO or private sale.
BILLY:
Why did you decide on no ico or private sale?
Ben:
The reason of doing ICO or private sale is because the foundation needs fund to do the project. But we don’t actually need as we can spend our fund and we are proud of our project.
Simple 😊
BILLY:
Q3. Can you elaborate on the products or solutions that TKNT has brought to the table ?
Ben:
By the way, I am sorry for the same answers for the 1st and 2nd.
will give u more detail questions and answers after
BILLY:
No sorry. Just carry on like a champ 💪
Ben:
TKNT provides Defi wallet service within its own platform. It will be an optimized platform for users who are looking for any decentralized financial service such as landing, 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 double half-life coming from Bet-Mining.
BILLY:
Yes sounds reasonable
Q4. Finally, what does TKNT plans to achieve by the end of this year?
Ben:
Now we have about 3 months until the end of this year, but TKNT has done and grown massively throughout the months.
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 and Korea. After that, we plan to focus on the European and South American markets.
Accordingly, after listing BKEX today, we plan to further list on exchanges such as Europe and America. To this end, we plan to publicize the project through offline and online events around the world.
BILLY:
That seems a packed schedule for this year. Hope you achieve all that you planned 👍👍
Ben:
Thanks for your interest everyone. We are in good shape now 😊
🐧Community ask Questions by Twitter ✔️
BILLY:
Twitter Question no 1 (BlancaSdF)
Username : @BlancaSdF
What is the advantageous dynamics of mining and betting? what are the risks? What is the risk-benefit ratio?
Ben:
On gaming platforms where TKNT is listed, users can mine TKNT according to their bet amount, and can mine anytime, anywhere, just through their phone or PC. TKNT can be only achieved by bet-mining at TKN.COM or purchase in the exchanges at the moment.
As every 10m pieces of TKNT mined, double-halvening starts. Which means, now user can get 1 TKNT by playing 8USDT worth of betting (previously 2USDT before 1st halvening at September), and at 2nd halvening, user can get 1TKNT by playing 34USDT worth of betting with their BTC, ETH, USDT, or TKNT.
This process allows tokens to have both transactional and intrinsic value, which provides the basis power to TKNT Foundation in the market.
But TKN.COM is gambling platform. So, someone who is located in legally prohibited country shall not be able to play. And always gambling has risk. So please be aware.
BILLY:
Twitter Question no 2 (Fehmi)
Username : @Fehmicanns
I have seen many projects trying to empower DeFi lately, all are good ideas but probably most of them will fade away. What does TKNT have to offer, that doesn’t exist yet and would make this project last long term?
Ben:
There are many Defi project without tech capability or marketing ability. Even though we are using ETH blockchain at the moment due to various reasons, we have our mainnet already by cooperation with UYT, which successfully develop mainnet by utilizing Pokadot’s sub-straight method, and we can move anytime we want.
We will be prepared very soon for cross-blockchain Defi platform, providing lending, staking, etc. to make this project last long with many users with huge liquidity.
BILLY:
Twitter Question no 3 (Lukas Putra)
Username : @Cladhhob
On a betting platform, fairness, security, transparency are standard requirements.
However, on centralized betting platforms, these requirements are not ensured, espcially fairness.
So, how this will be improved/fixed by TKNT Foundation technology?
Ben:
TKNT is not a blockchain game platform. TKNT is Defi wallet platform, and partnering with TKN.COM, which is №1 cross-blockchain Defi gaming Dapps. TKNT, by itself as a Defi wallet platform, it has professional internal and external tech team, and got the audit from Certik, a professional blockchain audit foundation. Your fund will be secured in our Defi platform.
Regarding TKN.COM, it is also Defi gambling platform. And our user’s money would be the most important part that we are taking care of. it is using Betprotocol’s (BEPRO) protocol and service, which has partnership with Chainlink, Band protocol, and many other global Crypto foundations. Also, it is using Bitgo’s custody service and $10m Insurance policy, so every user will have their own Mulitsig wallet with Bitgo.
BILLY:
Twitter Question no 4 (Tsheljabinsk)
Username : @Tsheljabinsk
What kind of a strategy do you have to build a powerful and strong community for TKNT? Do you plan to organize some sort of community events?
Ben:
In our foundation, there are many staffs and partners from all over the world, such as China, Korea, Japan, Thailand, Mexico, Europe, etc. And we have marketing & promotion strategy for each region. And also our marketing team is very strong and powerful like Apple. Although Tech part is quite important in blockchain industry, we believe making use of this technology is the most important part that we need to take care of.
So our marketing team is brainstorming every day and night how to educate and tell people what is Defi, and how to use it, and how we can get the benefit out of it, etc. By starting from Bangkok offline event last week, we will do the global tour until we reach to global top 50 blockchain foundation. Also, we now have few global communities already; English global, Chinese, Korean, Indonesian, Bangladesh, Thailand, India, and Turkey. If you have any suggestion for other regions, please let us know.
BILLY:
Twitter Question no 5 (Latom con espert)
Username : @JLEspertLA
What are the DeFi proposals that TKNT wants to promote? and how to beat the competitors
Ben:
I think this question, we answered already from above. In summary, you will see that we have slightly different model with other Defi projects. That’s NOT because of Bet-mining. That’s NOT because of mainnet development. That’s because we are TKNT foundation. We are and we will be very transparent to all of you.
Bet-mined tokens will be staked or used for swap pool for 1 year. Founders, Team, and Partners token is locked for a certain period (e.g. 6 months lock-up, 5% vesting per month). There will be no unexpected supply of the token. There were many tokens which lies about the supply and dump in the market. But we will publicly announce all our locked up and buyback & burnt token every month for transparency.
One more thing, by partnering with TKN.COM, TKNT foundation will buyback 15% of fee of TKN.COM’s house edge from the market every month.
There will be many things coming up in few weeks. We will update those via our official channels. Shortly, not only the platform updates and token economy for the value, but also foundation governance to create more solid project will be done in 2–3 months.
And I believe by doing this, our users will believe us and use our platform without hassle. And we always welcome for healthy competition.
BILLY:
Okay great answers by Ben
Ben:
Thanks Billy
BILLY:
You have really put some good thoughts while formulating the answers 😊
Ben:
Actually, good questions.. 😊
✍️ Telegram live Questions answered by TKNT Foundation ✔️
Anisur Rahaman:
Yeild farming is a new trending so do you have any plan to yeild farming system development?
Ben:
Yes of course. Yeild farming is a most important factor for Defi tokens. And these days users are very smart. Even smarter than developers. I think you can do better calculation after we open the platform. 😊
Rembrandt:
What is the business model of TKNT? How TKNT generates revenue for project development?
Ben:
TKNT has a business from yield difference and token value. Also, as we’ve mentioned, we are operating VC and have many portfolios in our group. Which means, we can do partnering with other projects and make a synergy and generate stable revenue.
Bruce:
How do you plan to show the world that your product is not just useless blockchain solution to a non-existing problem?
Ben:
Our marketing team is like an Apple group in Blockchain industry. We can create everything from 0, A to Z. Make people to use and talk in our community.
Sicxa:
Which area does TKNT focus on at the moment? (DeFi, Stake,Dapps, Yield Farming)
Ben:
Defi, Yield farming, Bet-mining, etc. which can benefits to you.
zafer metin:
Is the TKN platform legit? Does it fulfill all legal obligations?
Ben:
Yes, TKN got license from Curacao E-gaming and got audit from UK legalized firm. You can check in the site. It is operated over 2 years now.