Tokocrypto (TKO) will be the first local Indonesian Crypto Asset Project to offer a unique hybrid token model with utilities ranging from exchange platform tokens, CeFi and DeFi. That’s an official promo sentence, but we are going to review Tokocrypto and bring an honest analysis for investors. You can earn TKO token on Binance right now and you will be able to trade TKO soon.
But wait! Here’s what you need to know about Tokocrypto before investing any money or time and energy into TKO token.
There’s been currently hype every time Binance announced a project in their Launchpad (Alice token, Superfarm token). Tokocrypto token is the 19th project on Binance Launchpad, announced at the end of March 2021. Investors went crazy because you can earn TKO by accumulating BNB (Binance coin) in your account and locking it for a short period of time.
Let’s have a look into this new crypto project and deep dive to get a real idea of the advantages and disadvantages for investors and blockchain enthusiasts.
What is Tokocrypto
Tokocrypto is a cryptocurrency exchange in Indonesia. Founded in 2018, it is the fastest-growing digital asset exchange in trading volumes and user registrations. Don’t be mistaken, Tokocrypto is not the biggest crypto exchange in Indonesia.
Tokocrypto launched its native utility token, sometimes called a Toko Token, with the symbol TKO.
By the words of founders, Tokocrypto is the first local Indonesian cryptocurrency project to offer a unique hybrid token model.
Watch a short video with a 4-minute explanation of what is Tokocrypto and what is the vision behind the project.
Tokocrypto as a platform offers users many basic and advanced features.
- Cryptocurrency Exchange Platform
- Toko Launchpad: Decentralized offerings
- Cross-chain yield generation (staking)
- TKO NFT Arcade: Indonesia’s first-of-its-kind marketplace for digital collectibles and creative assets powered by TKO
To make things clear, Toko Launchpad will be the reliable and secure gateway to access and purchase premium quality blockchain projects during their token sales. It is almost the same structure as you know from Binance Launchpad. Obviously Binance, as an investor, wants to set up a strong position in Indonesia and Southeast Asia markets.
History of Tokocrypto
Tokocrypto exchange was born out of a crypto fan group with strong convictions about blockchain technology’s potential in Indonesia.
There’s enormous potential for a cryptocurrency exchange, because Indonesia is the fourth most populous country in the world, with over 270 million people.
There is no doubt that crypto exchanges have been in Indonesia for years, but everyone operated in a grey area. BAPPEBTI, an Indonesian regulatory agency, issued two regulations at the end of 2019 to set up a clear message for financial exchanges. Starting February 2020 only officially registered cryptocurrency exchanges will be able to facilitate cryptocurrency trading legally.
Tokocrypto was officially launched in September 2018. Tokocrypto is a fully licensed crypto exchange in Indonesia. The company claims to have become Indonesia’s first regulated crypto exchange platform where traders can legally buy and sell digital assets. It was registered under the Commodity Futures Trading Regulatory Agency Indonesia (BAPPEBTI) in November 2019
Tokocrypto is an ambitious project and with the support from Binance, it has a great potential to become one of the top crypto projects in Southeast Asia. Here are some numbers that document the current achievements.
- 30,000+ weekly active traders,
- $25,000,000 USD daily trading volume,
- 240,000+ downloads since mobile app launch in October 2020,
- a user base of 281,000+ registered users.
We can see that even though the project started in 2018 it wasn’t able to attract many users. The Indonesian market is big and to give you an idea, Indodax (Indonesian’s biggest crypto exchange) has a $100,000,000 USD daily trading volume.
Indodax 24h trading volume
Tokocrypto Token (TKO)
Token name: Tokocrypto (TKO)
According to Binance research here is a visual graph showing TKO token allocation and release schedule.
|Private Sale||1.00% of the total token supply|
|Public Sale (Binance Launchpad)||15.00% of the total token supply|
|Foundation||20.00% of the total token supply|
|Product and Marketing||17.00% of the total token supply|
|Partnership and Ecosystem||17.00% of the total token supply|
|Advisors||2.00% of the total token supply|
|Mining Rewards||3.00% of the total token supply|
|Community Airdrop||10.00% of the total token supply|
|Team||15.00% of the total token supply|
A private sale has 6 months lock-up period as well as Foundation and Team.
Tokocrypto Token Economy
What you need to know about Tokocrypto token economy.
- Token type: BEP-20
- Total Token Supply: 500.000.000 TKO
- Initial Circulation Supply: 108,416,667 TKO (21.67%)
Tokocrypto project raised 500.000 USD from the private token sale with a price at 0.10 USD / TKO.
- Private Sale Allocation: 5,000,000 TKO
- Private Sale Token Price: 0.10 USD / TKO
- Private Sale Amount Raised: 500,000 USD
Marketing and Distribution
TKO tokens were also distributed via marketing campaigns.
2,000,000 TKO tokens have been distributed to 47,000 holders via a Safepal Campaign in March 2021.
2,386,377 TKO tokens have been distributed to 21,034 holders via Tokocrypto Exchange’s referral program in August 2020.
Public Token Sale via Binance Launchpad
- Token Name: Tokocrypto (TKO)
- Binance Launchpad Sale Allocation: 75,000,000 TKO (15% of Total Token Supply)
- Binance Launchpad Sale Token Price: 0.10 USD / TKO
- Binance Launchpad Amount to be Raised: 7,500,000 USD
- Hard Cap Per User: 20,000 USD (200,000 TKO)
Binance announced the token sale for Tokocrypto that follows the Launchpad subscription format.
That means Binance will record user BNB balances for 7 days from 31st March 2021 0:00 AM (UTC) to 7th April 0:00 AM (UTC). The average BNB amount of 7 days will be used for a calculation.
Subscription will open from 7th April 4:00 AM (UTC) to 8:00 AM (UTC) for all eligible users. Users must also sign the Token Purchase Agreement and committed their BNB that will be locked until final token distribution.
Final Token Distribution will be at 7th April 9:00 AM (UTC).
Note, that users from some countries such as the United States of America will not be able to participate in token sales on the Binance Launchpad platform.
Be careful of the current hype around the project. Indeed, Tokocrypto is a strong project backed by Binance. Because of the Launchpad subscription format, investors started to accumulation BNB (Binance coin) from 30th March 2021.
The price of BNB went from $277 to $315 and overperformed Bitcoin and the majority of altcoins. The cryptocurrency market is in a bull run, the recent weeks were slightly positive but the price change a trading volume of BNB highly overperform other assets.
- Price $232.13
- Market Cap
Register on Binance via our link and get a 10% discount on trading fees.
Burning TKO tokens
Every quarter, Tokocrypto will utilize a portion of the trading volume generated on our crypto-to-crypto platform to burn TKO tokens, up to 10% of the total TKO token supply.
Indonesian Rupiah Stablecoin (BIDR)
Indonesian Rupiah Stablecoin, BIDR is a collaboration between Tokocrypto and Binance that is supported on the Tokocrypto chain to allow you to transfer your coin on the blockchain in a fast and low-cost manner.
BIDR is 1:1 backed by Indonesian Rupiah stored in Tokocrypto segregated Indonesian bank account that will undergo monthly audits. Although it is promised on the website, there are only four audits in 2020 available to read (June, July, August, September) but none in 2021 as is on 31st March 2021 during our research. See reports on the website.
Team of Tokocrypto
- Pang Xue Kai (CEO) – a council member in the Singapore Chamber of Commerce Indonesia
- Teguh Kurniawan Harmanda (COO) – Chairman of the Indonesian Crypto Asset Traders Association (Aspakrindo)
- Lai Chung Ying (CSO) – The Chairman of the INBLOCKS Conference and the Indonesia Blockchain Week (IBW) and Indonesia Blockchain Week (IBW) Binance Smart Chain Summit
- Nanda Ivens (CMO) – over 25 years of marketing, communication, and advertising experience, as well as 13 years of experience investing and building startups
- Shaun Djie (Advisor) – a member of the Technical Committee Board of the IT Standards Committee for Blockchain and Distributed Ledger Technologies
“Being the first cryptocurrency exchange to be registered with Indonesian regulators to operate legally in the country is a huge milestone for Tokocrypto as it brings us one step closer to being the leading cryptocurrency exchange platform in Southeast Asia,” said CEO Pang Yue Kai.
According to TheBlockCrypto.com, Tokocrypto has two major investors.
- QCP Capital
During our research, we found one more investor and supporter Digix Global. Digix is a Singapore-based company that sells digital gold tokens (DGX) redeemable for gold in well-established Singapore vaults.
Binance announced its investment into the Tokocrypto exchange in May 2020. The sum remains undisclosed covered in the NDA, Non-Disclosure Agreement.
Pang Xue Kai, Co-Founder and CEO of Tokocrypto said, “This investment in Tokocrypto serves to validate Indonesia’s promising blockchain ecosystem, showcasing the confidence from a leading global player. The investment from Binance will help establish Tokocrypto’s leading services in the Indonesian market and accelerate our vision in bringing an open financial ecosystem through blockchain technology.”
Changpeng Zhao (CZ), Founder and CEO of Binance, stated that “with fast technology adoption, strong economic growth, and the world’s fourth-largest population, Indonesia will become one of the leading centers of the blockchain ecosystem in Southeast Asia. Our investment in Tokocrypto will allow us to explore exciting new opportunities together for the Indonesian market with a regulated local partner to further enable the freedom of money.”
Tokocrypto Digital Exchange was mentioned in many media sites including Coindesk, Yahoo Finance, The Block or CNN Indonesia.
Roadmap – Future of Tokocrypto
TKO token will serve as the gateway for mass onboarding of the Indonesian market with the token utility on the Tokocrypto platform.
Q1 and Q2 2021
- TKO Token Official Launch
- BSC Summit 2021
- TKO NFT Charity Art Auction
- TKO CeFi integration – Creating the biggest digital wallet in Indonesia
Q3 and Q4 2021
- TKO NFT Arcade – Indonesia’s first-of-its-kind marketplace for digital collectibles and creative assets of emerging young artists powered by TKO.
- TKO Bumper Pool – Users can lock/stake their TKOs and earn other tokens for free in a farming pool
- TKO Staking – Users stake TKO
- TKO Lottery
- TKO Liquidity Swap
- TKO Lending: Stake TKO as collateral for loans
After success in Indonesia, Tokocrypto plans to go into foreign markets.
Where to Buy TokoCrypto (TKO)
You cannot buy Tokocrypto (TKO) at any crypto exchange at the moment. TKO is not listed yet.
The project is new and public sale is ongoing via Binance Launchpad. You can participate from 31st March 2021 0:00 AM (UTC) to 7th April 0:00 AM (UTC).
We can assume that TKO will be listed first on Binance because its private and public token sale is driven by the Binance platform. There is no official announcement, though.
Trading TKO on Binance
Binance listed Tokocrypto (TKO) in the innovation zone on 7th April 2021 at 13:00 PM (UTC) and opened trading.
The initial price was $0,1 and as you can see on the chart above, the price TKO went suddenly to $10 after opening trading on Binance. After a couple of hours of consolidation, the price ranges between $2 to $3.
Register on Binance via our link and get a 10% discount on trading fees.
TokoCrypto Official Channels
- Website: https://www.tokocrypto.com/
- Whitepaper: https://www.tokocrypto.com/cdn/pdf/TKO%20Litepaper%20V2.0.pdf
- Telegram: https://t.me/tkogroupofficial
- Twitter: https://twitter.com/tkobytokocrypto
- Medium: https://medium.com/tokocrypto
The whitepaper is not ready yet. They published just a shorter version called Litepaper.
Litepaper in English has English grammar errors.
Monthly audits of Indonesian Rupiah Stablecoin are missing (not published).
One of the biggest competitors is Indonesia’s leading crypto exchange Indodax. It has a much higher trading volume and web traffic.
Possible fake volume. As you can see on the infographic chart below, Tokocrypto’s volume trend does not follow a similar trend in other crypto exchanges. It is a red flag for faking volume, which is quite often in small cryptocurrency exchanges. Tokocrypto argued that it is caused by the OTC (over the counter) trades.
Risk warning: Cryptocurrency trading is subject to high market risk. Please make your trades cautiously. Binance will make the best efforts to choose high-quality coins, but will not be responsible for your trading losses.
DYOR: Do your own research