AMA Summary with TKNT and Cryptotech Community
Our CEO Benjamin Woo of TKNT Protocol took park in a particularly exciting AMA session which included introductions with the telegram Community. If you missed the AMA live, have a read through this recap to gain some deeper insights into TKNT. You also need to know that our AMA this time has a $100 prize in TKNT token
INTRODUCTION
Qias:
Hi Benus2018 welcome to CRYPTO TECH Community
Ben :
Hi everyone.
Qias:
are you ready to start the event today?🥳
Ben:
Thanks for the invitation and looking forward to today’s AMA.
Qias:
Okay, Before starting the first session, I will ask a little about yourself @Benus2018
Ben:
ok sure
Ben:
My name is Benjamin Woo, CEO of the TKNT Foundation. Other than this I am operating a Blockchain Venture Captial and UYT project. 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 a very unique and new concept of Bet-Mining and Defi.
Qias:
Nice background
Your experience will certainly motivate us in the future☺
Ben:
Thanks Akyas
Qias:
oke😊In the first session I will give 5 questions about TKNT Protocol, if you have given an answer please say “Done”
Ben:
sure. ok
Qias:
Q1: Could you tell a little about the TKNT project to our community?
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 1 week (now we are in the final audit process), TKNT will introduce a variety of Defi products such as lending, 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.
Ben :
After the first listing in Korea, the price of TKNT reached 400 times (40,000%) for 2 weeks. And after that in BKEX 14 times during 1 week. Now we are in a relaxing period, preparing other listings and offline sales plans. You will see TKNT in other global exchanges soon with an additional miracle.
Done.
Qias:
Q2: Are there any future plans to develop your own network?
Ben:
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 without hassel.
By integrating a decentralized liquidity pool, we plan to enable cross-chain 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.
Done.
Qias:
Q3: Where are TKNT tokens registered?
Ben:
Registered in Curacao, a constituent country of the Kingdom of the Netherlands.
And it is listed BKEX in China and Foblgate in Korea.
Done 😊
Qias:
Q4: Do you have any plans to collaborate with a specific project this year that you can apply to your betting system?
Ben:
Yes, other than TKN.COM, a №1 cross-blockchain Defi gaming Dapps, we are discussing with more partnership with other gaming Dapps for gaming token, extra mining features, or further partnership. One of our advisors is Kyle Lu from Dapp.com, one of the best Dapp review sites in the world. He is helping us a lot to have more partnerships with gaming Dapps.
Ben:
TKN.COM is already in alliance with Betprotocol as the backend tech team. They are in construction with the new betting systems: Esports, Sports betting, and live casinos are coming soon, probably next month. TKN.COM will expand the ecosystem with the other gaming platforms after the implementation of Esports betting.
Done
Qias:
Q5: What other reasons for investors to hold TKNT tokens in the long term?
Ben :
Good question. The very important thing you must know that the TKNT foundation is very transparent. As you can see in the etherscan, TKNT foundation didn’t distribute any free token, or ICO, or Private sale.
We believe one single token holders are one of the shareholders at foundation even it is a utility token. In the meanwhile, we have over 5,000 holders in one Korea exchange within 2 weeks of listing without ICO or swap. This is quite an amazing result that we have achieved recently among many other tokens in the market. As we have noticed above, there is a very limited number of TKNT is supplying in the exchange only. Also, mined tokens will be staked or used for swap pool, which will be controlled for the supply to create more value to the token.
Done.
TWITTER QUESTION
Qias:
1. Can you briefly explain about TKNT Foundation mining? About how we can join and what APR will we get? How does TKNT Mining work? Do I need a large machine like a bitcoin antminerto mine TKNT?
Ben:
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 requires expensive hardware or large capital for staking (e.g., 32 Ethereum), whereas these factors are not mandatory conditions for bet-mining.
Qias:
2.Why does TKNT still use Ethereum blockchain while it has a slow speed and high gas fee? Do you have any plans to launch your mainet or convert to other blockchains in the future?
Ben:
As we have mentioned above question, TKNT also has its own blockchain technology and we can always be moved to our mainnet.
By integrating a decentralized liquidity pool, we plan to enable cross-chain lending and landing 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 was previously isolated.
Qias:
3.Today there are many Defi projects that have technological or marketing capabilities, so how is TKNT different from other DeFi projects? How is TKNT empowering DeFi? Will TKNT have
plans to implement DeFi in its system?
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 lending, staking, swap, insurance, etc.
Originally, there was no concept of returning profits in Defi. However, starting with the 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, because it can be simply mined through Bet-Mining at TKN.COM, active within the existing user base. Plus the value of the token continues to rise due to the double half-life coming from Bet-Mining.
Qias:
4. I have seen various DeFi protocols launch in the past few months, and I’m stuck on making a decision on which to go with, can you convince me as to why to go with Flamingo Finance and how can I maximize profit with TKNT?
Ben:
Same answer with Q3. TKNT does not require unreasonable interest payments by itself. If you can use both platforms, tkn.com, and tknt.io, you can not only maximize your profit but also enjoy with TKNT than any other Defi tokens or protocols.
Qias:
5. Do you have plans to collaborate with certain projects this year that you could implement on your betting system? From @R7Clover
Ben:
Yes, other than TKN.COM, a №1 cross-blockchain Defi gaming Dapps, we are discussing with more partnership with other gaming Dapps for gaming token, extra mining features, or further partnership.
One more tip. We have very strong offline gaming partnerships as well which will be announced soon.
LIVE AMA QUESTION
Question:
I am an ETHICAL HACKER AND EXPERIENCED DEVELOPER, do you have plans for HACKATHON so as to check the security of your ecosystem periodically and also invite developers to build on
Ben:
Wow. interesting question. We will definitely do it. Our tech and supporting tech company are also Ethical hackers. Please stay tuned.
Question:
Currently, the DeFis is a risk, you add bets system, so, how to risky is this combination and how to handle these concepts?
Ben:
Yes, you are correct. But as we have mentioned, we have strong financials from tkn.com, which means tknt shall not attract people by abusing the tokens or ratios.
Bet system might be risky for participants. But even if you lose, you will get mined TKNT. So it is one of the ways to risk hedge.
But please be careful while you are using betting platforms.
Question:
I am an investor, can you share the advantages and great features of TKNT over other competitors enough to make me decide to invest in TKNT?
Ben :
Good question. As a cryptocurrency investor and VC owner, I do not invest in just one project. Although I recommend this method because I do find it important to building my own portfolio to hedge risks because the cryptocurrency market is not yet stable.
The most obvious factor that stands out in TKNT is that the foundation is very transparent. As mentioned above, all distribution quantities will be announced through the website or community. With this policy, we listed on a small exchange in Korea and created more than 5,000 TKNT holders in two weeks.
Currently, we are spending the outmost energy on marketing and technology development to grow the platform to the best. Besides the great features, there are many other reasons you can have an interest in TKNT.
The market changes very fast. So we have a very strong marketing team who can react in this fast changing world. They are from over 10 countries and working with many global partners at the time.
Question :
staking ☑️
burning☑️
buyback ☑️
& DeFi ☑️
Q. can Your project share thoughts on what I mentioned above ?
does it have an impact on the value of Your project?
Ben :
Defi — wallet, staking, lending, swap
Betmining — enjoy mining without capital
Token Supply — Monthly buyback & burn
Overall — Transparent, strong & professional team, and good partners.
Thank you
Don’t forget to join:
