Tokpie ICO Review
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What Is Tokpie?
Tokpie is a unique peer to peer digital currency exchange that seeks to make crypto assets available to everyone, everywhere. The platform has been designed in such a way as to allow safe, secure and transparent trading of crypto assets in exchange for either crypto or fiat currencies in an efficient and easy to use manner. Unlike traditional P2P exchanges that simply act as online marketplaces for connecting buyers and sellers, Tokpie facilitates buying and selling of crypto assets through real-time, two-sided simultaneous auctions. This means that traders can bargain in real-time with other traders and gain access to the best pricing models using flexible payment methods globally. In addition to this, Tokpie supports numerous trading pairs and allows low volume traders with a monthly trading volume of less than 100,000 US Dollars to trade for FREE. Large volume traders, on the other hand, will be charged a low fixed fee subscription on a monthly basis.
The prime objective of Tokpie is to be an ideal cryptocurrency exchange that consolidates the strengths of different types of exchanges (centralized, decentralized and, Brick and mortar exchanges) while avoiding any drawbacks that these exchanges may have. On this platform, traders can gain access to sophisticated features such as market screener, spread analysis, price charting, watchlists and notification tools that will enable them to capture the perfect market conditions for placing highly profitable trades. All transactions and operations on the Tokpie platform will be carried out using the Tokpie (TKP) token.
Tokpie ICO main features
- Transparency and efficiency – Tokpie platform users will be able to buy and sell cryptocurrencies directly with other verified users through real-time auctions. This enables buyers to bargain and negotiate with sellers in real-time in order to settle on the best possible prices for both parties. The Tokpie platform also provides users with exclusive access to sophisticated smart trading tools which enable users to take part in successful and highly profitable peer to peer trading.
- High level of security and privacy – Tokpie employs robust security measures to fortify users’ data and coins from unauthorized access. For instance, Tokpie holds users’ coins in 100% safe multi-signature hardware wallets which are not vulnerable to attacks by hackers. Secondly, all personal data such Identification numbers and passport photos that will be provided to the platform will not be stored on the company’s servers, and hence, the data will not be accessed by Tokpie’s employees, team members or any other third parties.
- Unlimited scalability – The Tokpie platform works by encapsulating different trading parameters such as currency pairs, unlimited locations, and payment methods into unique tradeable instruments. This attribute coupled with the peer to peer nature of the platform provides limitless possibilities for users such as leveraged trading, peer to peer decentralized lending, support for Dark Pool order books and private B2B order books.
- Zero fees – Traders with a monthly trading volume of less than 100,000 US Dollars will be able to use the platform for free. On the other hand, traders with a monthly trading volume exceeding the above amount will receive an unbeatably low fixed fee that will be payable on a monthly basis. This is still cheaper when compared to other exchanges that charge percentage commissions on the trading volume.
Tokpie Communication channels
Tokpie ICO token sale
The total number of Tokpie tokens issued will be influenced by the number of tokens that will be sold during the token sale. The number of tokens sold in the public sale will constitute 65% of the total supply of tokens. For instance, if 10,000,000 Tokpie tokens are sold in the token sale, then the total supply of TKP tokens will be 15,384,615. No additional TKP tokens will be issued after the ICO has been concluded. The price of one TKP token is currently set at 0.0006250 ETH which is highly affordable. Ethereum is the only accepted currency for payments.
Token distribution metrics
- Public sale: 65%
- Growth reserve (4 years): 21%
- Team: 9.6%
- Angel Investors: 2%
- Referral program: 1.3%
The following token prices will be used depending on the time of purchase.
- 1st week: 1 ETH = 1840 TKP (15% bonus)
- 2nd week: 1 ETH = 1760 TKP (10% bonus)
- 3rd week: 1 ETH = 1680 TKP (5% bonus)
- 4th week: 1 ETH = 1648 TKP (3% bonus)
- 5th week: 1 ETH = 1600 TKP (0% bonus)
Tokpie ICO team
Vasilii Silin – CEO/ Co-founder
Vasilii is an experienced businessman and blockchain visionary with extensive experience in managing businesses and stock market assets. Prior to co-founding Tokpie, he worked as a Senior Accountant for KamaGames from 2011 to 2017. Besides Tokpie, he has also co-founded Biomass Exchange which is a web-based trading platform that connects biomass buyers and sellers both locally and internationally. He holds a Bachelor’s degree in Management Studies from the University of Maryland University College.
Oleg Kovalev – CTO/ Co-founder
Oleg is a seasoned IT professional with over 15 years practical experience working in various firms and developing IT solutions. He is a passionate web developer with skills in both frontend and backend web development. Prior to joining Tokpie, he served as a Full Stack Web Developer at Everlive LLC. He has also served as the Head of IT Operations at MegaFon from 2007 to 2015. He holds a Bachelor’s degree in Computer Science and software development from the Far Eastern Federal University in Russia.
Andrey Pak – CTO/ Co-founder
Andrey is a Software Engineer and Blockchain enthusiast with over 15 years’ experience working in various fields in the industry. He previously worked as the Team Lead BMC Remedy at Smart Group from 2015 to 2017 and as a Senior ITSM Engineer at Jet Infosystems from 2011 to 2015. He has also worked as a Service Desk System Administrator at Euroset from 2007 to 2011. He holds a Bachelor’s degree in Applied Mathematics from the Far Eastern Federal University in Russia.
Ekaterina Diukareva – CSO/ Co-founder
Ekaterina is an experienced marketing expert with extensive experience in sales and market planning. She co-founded Biomass Exchange together with Vasilii Silin and has been working there ever since. She holds a Bachelor of Science degree in Botany from the Far Eastern State University.
Firmansyah Dolot – Branding and Web Animation Expert
Firmansyah is an Indonesian Web Developer with practical experience in logo design, branding, video marketing and website development. He previously worked as a Graphic Designer and Animator at Flixmotion from 2015. He has also created various websites such as logoreveal.com which offer logo design and branding services. He holds a Bachelor’s degree in Communication from the University of Indonesia.
Vina Kharaz – Social media and Project management
Vina is a seasoned professional in Social Media Marketing and Project Management. She currently coordinates and manages the social media presence of the Tokpie project. She has previously worked as a Writer and Social Media Manager for various organizations such as FreeZone, ExpoTrade, and Sila Integrative Health.
ICO Scam check
In an effort to identify the legitimacy of the company behind the ICO, we thoroughly scrutinized the ICO website and traced the social media pages of the company. Judging from the way the information is professionally presented and the positive feedback from various experts in the industry, we can confidently assure our readers that the ICO is not a scam. Moreover, the ICO’s roadmap is realistic and achievable, unlike scams which solicit unrealistic and fake promises. This can be further demonstrated by the fact that the team has been able to release an alpha version of the platform before the scheduled time in order to give investors an idea of the final product. This shows commitment and transparency on the part of the team. We can, therefore, comfortably advise investors to put their money on the project.
ICO Business model
According to the whitepaper of the ICO, Tokpie’s business model is quite simple and forthright. The Tokpie ecosystem will operate as a closed micro-economy with TKP tokens being used to run it. Tokpie will generate capital by charging a fixed subscription fee to all users with a monthly trading volume exceeding 100,000 US Dollars. The subscription fee will be paid using Tokpie (TKP) tokens. Tokpie will generate further profits by selling these tokens back to interested buyers on the platform at a profit. By holding and releasing TKP tokens at will, Tokpie will also be able to regulate the supply and demand of the tokens in a way that will be favorable for investors.
In addition to this, Tokpie will generate income by providing add-ons such as special-order books to startups. These order books can be used by startups in their token presale and crowd sale campaigns as well as for listing their tokens on the Tokpie platform once the ICO campaign has been concluded. Finally, one of the core services of the platform will be the ability to lend and receive P2P loans from the platform’s users. This will also offer a rich source of profits in terms of interests accrued from the crypto loans.
The minimum viable product for this project is an Alpha version of the exchange platform with limited functionality. This product was released on 27th April 2018 and can be accessed by following the instructions on this article. Tokpie encourages people to use the platform and help test it for future enhancements.
The goal of the ICO is to raise a total of 25,000 ETH which is equivalent to about 19,000,000 US Dollars. Considering Tokpie’s unique value proposition and the fact that the token price is set at an affordable rate, one can conclusively state that the ICO has a huge capitalization potential. This proposition can be supported further by the growing need for reliable, secure and scalable exchange platforms which has encouraged investors to put their money in such ventures.
There are numerous trading and lending ICOs that have taken place in the past. Two of such ICOs are the Lendroid ICO and the Republic Protocol ICO. The latter is a decentralized trading platform that was able to raise 34,000,000 US Dollars in one day while the former is a decentralized lending platform that was able to raise 47,500,000 US Dollars in two days. This indicates that with proper promotion, the Tokpie ICO will also be able to raise its target amount.
For the past one year, various financial institutions have reported an increase in the cryptocurrency market’s daily trading volume. For instance, according to CoinMarketCap, the daily cryptocurrency trading volume grew 56.7 times from 0.37 billion USD in March 2017 to 21 billion USD in March 2018. Indeed, this shows massive growth in the number of people trading cryptocurrencies globally. However, despite this growth, there is a limited number of exchanges offering diverse crypto to crypto and crypto to fiat trading pairs. This coupled with the need for low trading fees will give Tokpie a considerable share in the current cryptocurrency market. Tokpie targets all kinds of investors ranging from individuals to medium and large businesses especially those located in countries in Europe, Africa, and Asia.
Potential/ Use cases
The Tokpie platform is user-friendly and highly scalable which makes it suitable for use for a variety of functions. The platform supports sophisticated features such as order books, mutual funds, P2P decentralized lending and smart trading tools which makes it an ideal multipurpose platform that can be used by traders, creditors, startups, and businesses.
Moreover, the platform supports a diverse number of trading pairs and payment methods which ensures that different kinds of traders from different parts of the world can be able to buy and sell cryptocurrencies in the most efficient manner.
Tokpie coin supply and purpose
The Tokpie coin (TKP) is an ERC20 token. The TKP coin will be used as a native cryptocurrency for facilitating various operations and transactions on the Tokpie platform. Tokpie’s token system has been built on the powerful Ethereum ERC20 technology hence the system can securely scale as the demand grows. The following are the main purposes of the Tokpie coin:
- Tokpie coins will be used to grant membership to users of the Tokpie platform. A set minimum amount of coins will be required for users to gain access to various features on the platform.
- TKP coins will be used by large volume traders for making monthly subscription fees.
- TKP coins will be used for paying collateral and interest fees by users taking part in P2P crypto lending on the Tokpie platform.
- Tokpie coins will be used for making one-time payments in order to access certain sophisticated tools on the platform.
Compatible wallets and exchanges
The Tokpie coin will be used exclusively on the Tokpie exchange platform. Since the coin is an ERC20 token, then it can be stored in any of the ERC20 compatible wallets. Some notable examples of these wallets include MyEtherWallet, Mist and Ledger Nano S.
ICO Review Summary
To sum it up, Tokpie is a great project that offers real solutions to problems that are currently facing the global cryptocurrency community. However, the project lacks in technological innovation since it employs the same technology as other exchanges. But still, we believe it’s a viable option for investors to consider investing their money
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