The 1 Minute Summary
TKO is the native utility cryptocurrency token for the main Indonesian Crypto Exchange, Tokocrypto. Binance acquired a controlling stake in TokoCrypto, in May 2020 where it was announced that V2 of the exchange will be based on the Binance cloud. The TKO ICO was held in April of 2021.
TKO plays a key part in the DeFi and CeFi strategy of Tokocrypto. TKO combined with BIDR (BIDR is the first stable coin pegged directly to the Indonesian Rupiah, launched simultaneously on Binance and Tokocrypto in June 2020) are an important integral fiat gateway for Indonesians.
The Deeper Dive
Indonesia’s Tokocrypto launched in September 2018, and was the first company to be registered under the countries Commodity Futures Trading Regulatory Agency Indonesia (BAPPEBTI…it rolls off the tongue!) in November 2019. They are ISO27001 certified
Tokocrypto V2, based on the Binance cloud was announced in May 2020 in parallel to the announcement of the acquisition of a controlling stake by Binance. This investment has enabled the exchange to accelerate its ambitions.
Since the launch of V2 the platform appears to be growing strongly and very positive feedback on the appstores, particularly in the Playstore. At the time of the TKO ICO they had approximately 300 hundred thousand users.
TKO provides enables numerous features on the exchange:
- Exchange Platform Token: As the underlying token for the exchange, TKO offers fee discounts, airdrop entitlements and other incentives.
- Participation in Deposit & Savings Programs: The TKO token can be used in deposit and savings programs such as TKO Deposit, TKO Savings, and TKO Cashback.
- Cross-Platform DeFi Use Cases: Planned use cases also include integrating TKO on third-party DeFi platforms via farming pools, lending, and more.
- NFT Arcade: Tokocrypto will pioneer the Indonesian NFT landscape with Indonesia’s first-of-its-kind marketplace for digital collectibles and creative assets from emerging young artists. TKO is the backbone of the platform and the payment gateway between creators and audiences.
At launch 500 million TKOs were made available and distributed in a relatively open manner. While a large number of coins were pre-sold, a fairly reasonable lockup scheme was employed to prevent them being dumped in the market.
|Vesting Period||Token %|
|Initial Distribution Terms||Subsequent Distribution Terms|
|Private sale||6 Months upfront lockup||Monthly distribution across 12 months*||1%|
|Public sale||No Lock Up||No Lock Up||15%|
|Foundation||6 Months upfront lockup||Semi-annual distribution across 5 years*||20%|
|Product and marketing||No Lock Up||Semi-annual distribution across 3.5 years*||17%|
|Partnership and ecosystem||No Lock Up||Semi-annual distribution across 3.5 years*||17%|
|Advisors||No lockup||No lockup||2%|
|Mining Rewards||No lockup||Monthly distribution across 2 years and 6 months*||3%|
|Community Airdrop||No lockup||Monthly distribution across 2 years and 6 months*||10%|
|Team||12 Months upfront lockup||Annual distribution across 5 years||15%|
This results with the following token release schedule
In addition to the above, Tokocrypto will utilise a portion of their trading generated volume on their crypto to crypto platform to burn TKO tokens, up to 10% of the total supply.
Platform tokens and the outlook for TKO
Looking at comparable tokens for other crypto exchanges it’s fair to believe in strong growth for the TKO tokens. When you add the following factors together
- Tokocrypto’s Saving, DeFi & NFT ambitions
- Ever increasing and more importantly satisfied user base
- An incredibly robust underlying platform, that leverages the very best of Binance innovation
- Parented by the worlds leading exchange
..there is no reason why TKO can’t hit 10$ to 20$ in this extended bull run. Just consider how Binance’s own DeFi ecosystem has contributed significantly to a run away BNB token.
Another example here is the growth of the Swissborg coin, CHSB which has experienced a 8438% gain in the year, without a DeFi ecosystem and a simple user base.
With Binance backing, a strong portfolio pipeline and regulatory approval theirs no holding back TKO. From its humble 0.1$ initial price, it’s now trading at 4.18$ well on the way to rewarding those with a little bit of patience.