Thank you to everyone who joined AMA Blockelite x TKNT on 9TH October at 7 AM UTC I 2 PM UTC+7. Here is the recap for those who missed this AMA.
Our special guest today is Benjamin Woo — CEO of TKNT
Segment 1: Introduce about TKNT and Guest
Q1: Can you briefly introduce yourself as well as the TKNT project? @tknt_BEN
Benjamin Woo – CEO of TKNT: I am Benjamin Woo from TKNT Foundation. Other than this, I am operating blockchain & cryptocurrency VC in Korea. Have been working in this field for last couple of years and invested over 150 projects. TKNT is the project that we are focusing on these days because it is following the trends of Defi with its new concept of bet-mining, which is quite unique.
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 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.
Q2: Why do you choose this name “ TKNT “ ? @tknt_BEN
Benjamin Woo – CEO of TKNT: Simple. TKN stands for TKN Token. 🙂
Q3: Which is currently a TKNT partner? What role do they play in the ecosystem and benefits both sides receive? @tknt_BEN
Benjamin Woo – CEO of TKNT: TKNT Foundation is currently in alliance with TKN.COM / IgnisVC / BKEX Capital / Block Technology / Zenith Ventures / ICO.COM / Lava Hongkong and more. TKN.COM is currently our main partner, where you can mine TKNT just by betting inside the game platform.
Q4: What are the ways that TKNT generates profits/revenue to maintain your project and what is its revenue model ? How can it make benefit win-win to both invester and your project ? @tknt_BEN
Benjamin Woo – CEO of TKNT: TKNT Foundation will launch a DeFi Wallet within this month were you will be able to stake, lend crypto, pay in stores, and swap cryptos inside the platform. As a service provider we can profit from service fee along with multiple ways of profit generation model as the scosystem expands.
Blockelite Host: Great, thank you @tknt_BEN for your introduction, our pleasure to have you join us today
Benjamin Woo – CEO of TKNT: Me too! Great pleasure!
Segment 2: 5 best questions from twitter
Q1: TKNT looks good but it confuses me that there are so many other Blockchain project. What should I pay attention in TKNT to give it the importance it deserves? What are your planning to achieve with your project? from @LUONGHANHPHUC1
Benjamin Woo – CEO of TKNT: thank you for the question and interest
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.
Q2: Where is the market that TKNT is focusing on developing? How do you feel about the Viet Nam market? Is it a suitable place for TKNT to focus on development? from @huskyxzx
Benjamin Woo – CEO of TKNT: Currently we put the most energy on Korean market, but in our foundation, people are from all over the world. Europe, US, China, South Korea, Japan, Mexico, etc. Seeing that we are getting a lot of attention from Vietnam and Indonesian users, we definately consider Vietnam market to be suitable for developing TKNT as well.
Q3: Most new DeFi projects are just copies of existing ones, they are just useless. So, what’s unique about your project & what makes tknt trustable as a long term project for users and investors? from @Trung34566
Benjamin Woo – CEO of TKNT: Again, as mentioned above, 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.
Blockelite Host: Can you say more about Bet-Mining?
Benjamin Woo – CEO of TKNT: Sure, 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.
Blockelite Host: so great, people will be very excited about it
Benjamin Woo – CEO of TKNT: Yes, simple and profitable model
Q4: Which specific about technology and strategy of TKNT that make you believe it will be successful and what does TKNT plan do to attract more users in the upcoming time? from @QuyenCao11
Benjamin Woo – CEO of TKNT: Regarding the features of TKNT to attract users, we find two important factors: Simplicity and transparancy.
Users can mine TKNT just by betting inside TKN.COM, win or lose, you will get your TKNT. In the near future you will be able to trade your mined TKNT inside the DeFi or trading platforms.
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 TKNT.
Q5: What’s the most played games in TKNT? If ever I will register in your platfom, what’s the easiest game you can recommend for those who are not a gamer like me? from @kizapiza
Benjamin Woo – CEO of TKNT: FYI, TKNT is not a gaming platform. TKN.COM and TKNT are seperate foundations in alliance. The most played game inside TKN.COM is coinflip and linear dice. Coinflip is simple, all you have to do is choose between heads or tails, and Keno is just like a lottery system, where you choose the numbers between 1–40 and win according to the numbers that are correctly chosen.
Segment 3: live questions
1. What is the use cases of your token ? Why should I hold this token for a long term other than other tokens?
Benjamin Woo – CEO of TKNT: 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 lending, 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.
2. What are some of the major achievements that the TKNT project has achieved and what milestones are planned in the upcoming months/years?
Benjamin Woo – CEO of TKNT: We have only 3 more months for 2020. But I can promise that we can accomplish many many things during 3 months time. Our tech team is developing our platform nice and neat every day and night to make our users can use from end of this month.
TKNT listed in Foblgate and acheived very good result. In addition, it was listed in BKEX exchange, a global top 10 exchange. Still more and more things are coming up. As you have asked, TKNT will be listed in few more global exchanges including Europe, US, and other countries. We will update those via our official channels.
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. Also, we are discussing with few more global exchanges to create more users from global. So, TKNT will be listed in few more exchanges after BKEX listing, including Europe and US region.
3. You added “ BET SYSTEM “ betting is quite a risky game, how will handle users to handle such risk ?
Benjamin Woo – CEO of TKNT: TKNT collaborated with TKN.COM to add the function of bet mining. The basic concept of bet mining is, win or lose, you get your TKNT. 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.
4. Can you give me 3 reasons why users and investors should use your project in the long-term? What are the benefits your project brings?
Benjamin Woo – CEO of TKNT: TKNT is Defi wallet platform, and partnering with TKN.COM, which is №1 crossblockchain 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, 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.
You can simply mine TKNT just by betting inside TKN.COM platform, stake, lend or trade at the same time with TKNT.
5. On which of the exchanges can I purchase $TKNT token ?
Benjamin Woo – CEO of TKNT: You can currently purchase TKNT Token in Foblgate and BKEX exchange. We have plans to list in OKEX, Binance, Bithumb as well. Please stay tuned.
Blockelite Host: Thank you for joining today AMA! It was awesome! Would you like to address the community before we open the chat? 😉 @tknt_BEN
Benjamin Woo – CEO of TKNT: Thank you all for your wonderful time. TKNT will continue to frow to the next level. Please look forward to our progress currently skyrocketing in BKEX. TKNT is currently recording 1300%+ rise in price in BKEX. Stay with us in our wonderful journey. We will soon come back with staking services along with officially laucnhing DeFi services in the near future. Stay tuned!
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