7 Key Things We Learnt About Toko Token (TKO) from Its First Year of Crypto Life
In 2015, a young Singaporean dabbled into the crypto market by trying his hands in crypto trading. After making some profits, he was wondering about what he can do to put these profits to good use. That’s when he had an eureka moment as it dawned on him that he can help others earn profits from crypto trading as well. Afterall, the fundamental ideology of cryptocurrency is the democratization of finance which means that the door to crypto trading should be open to anyone and everyone who wishes to embark on it. Having studied the various crypto markets around the world, particularly those from Asia, he identified the Indonesian crypto market as the one which held the most promise simply because of its sheer size in terms of its population numbers and geographical coverage coupled with the government’s pro-digitalization stance. The rest, as they say, is history.
In September 2018, this young Singaporean i.e. Pang Xue Kai aka Kai partnered up with Teguh Kurniawan Harmanda, who is the Chairman of the Indonesian Crypto Asset Traders Association (Aspakrindo), to co-found Tokocrypto which in November 2019 became the first entity in Indonesia to be registered under the Commodity Futures Trading Regulatory Agency Indonesia (BAPPEBTI). With utmost regulatory compliance as its guiding policy and unwavering user trust as its ultimate currency, Tokocrypto had, in the span of less than 3 years since its inception, emerged as the top cryptocurrency exchange in Indonesia. Having established a firm foothold in Indonesia, Kai who is also the CEO of Tokocrypto decided that it was time to go global and with this, Toko Token (TKO) was born.
The Genesis of a Crypto Star
7 April 2021 marks the day on which TKO was launched on Binance Launchpad resulting in a record-breaking 50,000% oversubscription of its hard cap of 75 million units from 201,406 individuals, with a total of 10,502,201 Binance Coins (BNBs) (approximately USD 4 billion in value based on the price of BNB on 7 April 2021) subscribed for the launch. This overwhelming market response is a tell-tale indication of the extent to which the features and functions of TKO, in particular its unique hybrid CeDeFi token model that combines the time-tested stability of centralized finance (CeFi) with the innovative flexibility of decentralized finance (DeFi), are able to fill the existing gaps in the market.
Building on the stability offered by Tokocrypto 2.0’s centralized platform which is powered by the state-of-the-art Binance Cloud framework, TKO users were able to harness the passive income generation features of DeFi by staking their TKOs on a host of external platforms as well as through Tokocrypto’s in-house staking program that takes the form of TKO Lock. Nonetheless, as with any other utility token, the ultimate acid test for TKO lies in its utility value as measured through the scope and range of the token’s suite of functional use cases. Fair to say, TKO has passed the test with flying colours as it had in the span of just a year since its launch, developed into a true-blue utility token, one which is serving as the unifying thread that supports the components of Tokoverse whose operations cover almost every aspect of the crypto domain.
TKO, the Measure of a Token
As TKO celebrates its first birthday, let’s revisit some of the things about the token which sets it apart from the rest. Here are 7 key things we learnt about TKO from its first year of crypto life:-
#1 — TKO is An All-Rounder
As the native utility token of Tokoverse, TKO is the access point to the avant-garde ecosystem which operations range from NFT (TokoMall), community building (T-Hub) and crypto education (TokoScholars) to venture building (TokoLaunchpad) with much more to come. In this regard, TKO holders have in their hands, albeit through their crypto wallets, an all-rounder token which serves as an entry pass to Tokoverse that would soon be expanding into the proverbial Metaverse through the upcoming Tokocrypto Metaverse.
#2 — TKO is a Token of Its Words
In line with Tokocrypto’s operational philosophy which places foremost primacy on the building and preservation of a relationship based on trust and confidence, TKO is a token which “says what it means and means what it says”. Little surprise therefore that TKO’s development thus far has accorded with the token’s programmatic roadmap as set out in its whitepaper.
#3 — TKO Lets Its Numbers Speak for Itself
Liquidity is a key factor which supports the operations of any utility token whereby TKO’s average monthly trade volume of USD109+ million warrants the prompt settlement of transactions undertaken using the token. Another critical aspect in the tokenomics management of utility token is liquidity management whereby in order to control the inflation levels of TKO, the first, second and third quarterly TKO Burn were conducted in July and November 2021 as well as March 2022 respectively involving the burning of a total of about 1.2 million TKOs worth more than USD1.362 million.
The three rounds of quarterly TKO Burn have helped minimize the token’s inflation rate which in turn helps maximize the value of the token for its holders. In addition, two rounds of TKO Lock were conducted in July and November 2021 involving the locking of a total of 14.2+ million TKOs resulting in the average monthly holding of 18+ million TKOs have contributed to the stability of the token thereby boosting its long term capital growth prospects.
#4 — TKO Leads by Example
An industry as nascent as that of cryptocurrency can certainly make do with some leadership which TKO is oozing in. As a born leader, TKO is a token which “knows the way, goes the way, and shows the way” as exemplified by its organizing of the Total Kripto Overview (T.K.O) Summit on 24 July 2021 which brought together 36,000 virtual participants from around the world for a thought-provoking discourse and The Kripto Odyssey (T.K.O) Summit on 4 December 2021 that took members of the crypto community on an exploratory voyage of the crypto sphere covering a 360° overview of the crypto landscape including the elements of blockchain as its technological foundation.
#5 — TKO Stands for Financial Inclusion
As a token which has corporate social responsibility (CSR) at its heart, TKO always has in mind the 1.7 billion unbanked people from Indonesia and around the world who are living without access to financial services. Starting off with its home turf in Indonesia, TKO is unleashing a wave of financial inclusion in the country through its 1TKO1Indonesia initiative which aims to open the door to TKO ownership for everyone in Indonesia in line with Tokocrypto’s belief that everyone in Indonesia should have the right to use crypto assets whereby TKO can be the bridge for them to jump in. In time to come, this wave of financial inclusivity will be transcending the shores of Indonesia as Tokocrypto banks the unbanked from other countries through the prospects of a 1TKO1World initiative.
#6 — TKO’s Favourite Colour is Green
With climate change wreaking havoc in many parts of the world, TKO is committed to reducing its carbon footprint through its Proof-of-Stake (PoS) consensus mechanism which consumes considerably less energy than the Proof-of-Work (PoW) consensus mechanism. In this manner, TKO is walking the talk when it comes to being an environmentally friendly token which is committed to ensuring the future sustainability of this planet that we call home.
#7 — TKO Holds the Key to the Future
As the native utility token of Tokoverse, TKO’s destiny is inextricably intertwined with that of Tokoverse which is why Tokocrypto’s development blueprint for TKO encompasses each and every aspect of the future plans of the ecosystem under the Tokoverse Strategy. A prime use case example of the ecosystem development approach under the Tokoverse Strategy is our latest feature which grants a 20% trading fee discount to users who use TKO for the settlement of trading fees in relation to transactions carried out on our exchange.
Not only that, the Tokoverse Strategy also covers other activities that are pivotal to the development of the ecosystem such as TKO Lock & Burn which brings about a dual-pronged boosting effect for the valuation metrics of TKO whereby this is plays a critical role in shoring up the operational parameters of Tokoverse as a whole. All these stand testament to TKO as a visionary token to which forward-looking is of second nature thereby rendering TKO to be a future-proof utility token that would be embracing the future by building it.
In addition to our bonanza giveaways in conjunction with the first anniversary of TKO’s launch, let’s go back in time with TKO’s First Birthday Commemoration Report Card which is a flashback of the notable moments of the token’s first year of crypto life.
Armed with its experience garnered over the past 12 months, TKO can only get better in time to come. Here’s to many more happy returns for TKO and its holders.
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Have a read of TKO’s Whitepaper here 👉 https://bit.ly/3IjDah1