Tokenomy is a cryptoasset exchange located in Singapore. Their volume over the last 24 hours is $270,774. The exchange is rated “D” which means “Poor.” They are a crypto-only exchange.
Tokenomy is a value creation and distribution network, which, according to its LinkedIn page, was founded in 2018. According to the information on its “Terms” page, the platform is operated by TOKENOMY TECHNOLOGIES PTE. LTD and is headquartered in Singapore. Although the website offers little-to-no information about the platform’s development over the years, its main address or the date of establishment, it provides a short introduction to the team members. At the time of this writing, the CEO of Tokenomy is Christian Hsieh, a professional with more than 15 years of experience in the financial industry in companies like JP Morgan and INDODAX (Indonesia Digital Asset Exchange). Tokenomy’s team is also comprised of individuals with a solid background in organizations like Goldman Sachs, RBS, L Catterton, and others.
From all the information present on the exchange’s website and the team’s LinkedIn profiles, it looks like Tokenomy has close ties to INDODAX. Several members of the platform’s team also hold positions in INDODAX, while it is listed as the official partner to handle the token trading part of Tokenomy’s business. For example – Tokenomy’s website claims to have exposure to the 1.7 million clients of INDODAX, which it refers to as “the largest digital asset exchange in Southeast Asia.” It continues to say that Tokenomy’s team has six years of experience managing the largest cryptocurrency exchange in Southeast Asia.
Tokenomy’s website describes the project as a “global value creation and distribution network.” In reality, the platform offers a token launch service that allows individuals or corporations to generate, distribute, and exchange their tokens. It also provides a marketplace for tokens to be listed and traded on the cryptocurrency-only exchange. According to the information on Tokenomy’s website, the token listing process goes through five phases – proposal (the idea is reviewed by the platform’s team), marketing (the idea is then promoted via social media), tokenization (transforming the concept into tokens), pre-sale, and market exchange (tokens are traded in partnership with INDODAX).
When looking at Tokenomy’s website, the majority of the information there seems to be directed towards ICO-teams and urges them to list their respective tokens there. However, there are no additional details about the platform’s features and functionalities. Further research reveals that Tokenomy issues a utility token under the name of TEN. The TEN token can be used for purchasing new tokens, proposing token submissions (although token submissions are free of charge, if the project is shortlisted, it will be charged with a fee in TEN), affiliate programs, external token listings, discounts on trading fees, etc. The information in the Tokenomy’s TEN token whitepaper reveals the platform’s plans to “build a platform where anyone can help and offer small merchants, entrepreneurs, or even an 18-year-old kid with big ideas, a helping hand.” Tokenomy’s team proceeds to say that they provide 24/7 support to the businesses willing to use the platform to launch their own tokens.
The whitepaper also helps confirm the link between Tokenomy and INDODEX (formerly known as Bitcoin.co.id) by claiming that “the founders of TOKENOMY are not newcomers to the cryptocurrency world”, having found Bitcoin.co.id – the biggest digital asset marketplace in Southeast Asia. According to the information from the whitepaper, Bitcoin.co.id was established in February 2014 and has maintained “steady and ongoing growth since the beginning.” The whitepaper provides additional information about the team behind INDODEX, most of which are associated with Tokenomy.
Regarding the platform’s security, Tokenomy’s website and the whitepaper don’t offer any useful information. The webpage with the FAQ section is also very limited, although it hints that Tokenomy employs two-factor authentication. So is the case when it comes to customer support – there are no mentions about email support, live chat features, or phone numbers. There are only social media channels that clients can use to get in touch with the platform’s representatives. All in all, the team behind the project hasn’t managed to shed the needed light on the platform’s features and functionalities.
When it comes to Tokenomy’s online reputation, it is worth noting that the available information is very limited as well. At the time of this writing, there are very few threads on Bitcointalk and no mentions of user opinions on Tokenomy’s services on Reddit. Although this may be considered as a positive sign, it doesn’t help in the case of understanding more about the platform and the quality of the provided service.
At the time of this writing, Tokenomy doesn’t have a history of hacker attacks, security breaches, or governmental investigations.Read More