TOKOK is a cryptoasset exchange located in British Virgin Islands. Their volume over the last 24 hours is $290.80M. The exchange is rated “C” which means “Fair.” They are a crypto-only exchange.
Tokok is a decentralized cryptocurrency exchange that was registered in the British Virgin Islands by the company “Kindly Keep Network Technology Limited”. The platform also called T-network employs two trading models of crypto asset transactions which are a direct dealmaking of crypto assets for fiat money and matching trading between cryptocurrencies.
TOKOK is a name derived from the words ‘token’ and ‘OK’. The logo of the company is a pair of scales with the letter T was portrayed as a central shaft part of a balance, meaning T network and fair, equitable trading with balance pans presenting buyer on the one side and seller on another. It was introduced to symbolize a trading balance ensured by the TOKOK exchange.
The developers of the platform try to solve the problems many platforms face nowadays. One of them is a weak foundation of a substrate structure that doesn’t let such platforms cope with high-level trading. Therefore, much attention is paid to technical functionality and to customers. In the opinion of the team, many exchanges offer products that are not customer-focused, while TOKOK emphasizes the primary importance of their value for users. The goal of the team is to create a world-class cryptocurrency exchange platform.
The company supports a big number of cryptocurrencies. The advantages of the platform also include security performance, strict token listing rules, and million-level trading enabling the order processing capacity to reach 1.6 million orders per second according to the whitepaper of the project.
TOKOK launched the Supernodes program, which is a digital management project. The platform offers a range of financial products that help to earn interest. The higher is the stake, the longer is the investment period as a rule. It’s easy to complete the investment as the resource offers an easy-to-use interface and clear functionality. The program implies steady returns and zero risks. However, the products can’t be unlocked in advance as the users have to wait for the lock period to end.
The exchange features a powerful tech-supported trading system. Offering a cross-platform terminal, the exchange enables access to the functionality at any place. The company is supported by different operating systems and has a mobile version as well. So the customers using IOS- and Android-based devices can trade on the exchange or at least monitor the situation on-the-go. The technicians continue working over the substrate code and the website structure trying to provide a solid technical foundation for the platform.
It’s possible to participate in different activities arranged by the platform and earn points which are called TPS. It’s impossible to withdraw or trade the exclusive points as they can only be used within the platform.
TOKOK charges flat fees for trades making up 0.20% per trade. It’s possible to get benefits if you hold TOK tokens as it helps to reduce the trading fees by half. The withdrawal fees are fixed and depend upon the type of cryptocurrency.
The platform doesn’t allow fiat deposits, so it’s possible to deposit cryptocurrencies only. TOKOK offers a good referral program that provides 30% of the trading fees that the platform earns with the help of invited users. Also, there is an opportunity to increase the earnings for those who hold 10,000 TOK on their accounts. In this case, the member of the community is able to earn 50% of trading fees.
TOKOK obtained FCA financial license from the UK Financial Conduct Authority. Also, the platform received the Estonian EU MTR digital currency license and the digital currency exchange license issued by the Singapore authorities. The project did it in accordance with the Payment Services Law adopted by Singapore Mas in 2020 which states that all cryptocurrency exchanges should operate in compliance with the relevant anti-washing rules. The team co-founder has long worked in the financial industry and therefore has acquired a strong sense of risk control.
The technical team of the platform has extensive experience in the maintenance of system security. Using such measures as multi-signature, cold storage, heat and cold isolation wallet processing scheme for the protection of customers’ assets.
The platform has issued the Ethereum-based token known as TOK with a total supply of 1 billion tokens. The goal of TOK is the reduction of the trading fee, which is rather considerable. Those who use TOK for paying fees get a 50% discount. The token is well protected by deflation as the burning scheme is used to prevent the loss of its value. 30% of the quarterly trading commission is destroyed.
TOK tokens are also used for equal distribution among the members of the community. 25% of quarterly profits are distributed among users who can get BTC, ETH, or other valued tokens. The platform also uses TOKs for airdrop awards. In general, tokens are used for maintenance and promotion of the healthy, stable and sustainable development of the exchange.
After the ICO that finished on January 31, 2019, the tokens were allocated in the following way: 39% was allocated to the community sale, 39% of tokens went to the team on the terms of 5-years lock and gradual unlocking in the course of this period (20% per year), 11% of tokens were allocated to inchoate investors and got unlocked gradually in 24 installments, 6% were set to be spent on promotion, and 5% went to the bonus fund.
The platform offers to use IMTOKEN, which is an ERC20 Ethereum wallet or MyEtherWallet to send and receive tokens.
The team of the exchange includes a professional R&D (research and development) and management group. As it was asserted by the company, the top technical team includes several core members who previously held important positions in Huawei and Tencent. The company hasn’t provided other details about the members of the team on the official website.Read More