TOKPIE Introduces Valuable Business Updates
Our new updates would bring changes to the following key aspects
- Market penetration strategy.
- Product development stages.
- Token distribution policies.
Market penetration strategy
The fast-paced growth of cryptocurrency ventures has given rise to many crypto exchange platforms. The rising market competition has made the goal of attracting new users to our TOKPIE platform more challenging than ever before. To resolve this issue we have devised a breakthrough strategy that bestows maximum benefits to crypto enthusiast and communities linked to the crypto world like crypto investors, bounty hunters, cryptocurrency startups, and crypto traders.
The major challenges
Every month, hundreds of cryptocurrency ventures are launched and they adopt several promotional techniques to make their ICO a real success. To this end, TOKPIE has come up with the strategy of Bounty campaign which is cost-effective and result-oriented.
A bounty campaign involves various activities like social media promotion, content marketing, content translation, joining groups, etc. These activities are undertaken by bounty hunters who are rewarded by means of ‘stakes’. A stake can be explained as a unit that measures the activities and achievements of a bounty hunter.
The stakes achieved by bounty hunters are convertible into tokens when the crypto startup issues their tokens. These tokens can be converted into money whenever the tokens are listed on a crypto-fiat exchange. Thus the bounty hunters can redeem the returns for their service.
However, the challenging part is the time taken for the whole procedure to happen. The process of stakes getting converted into tokens and the tokens getting exchanged for fiat money can take around 6 months on an average.
This long period of waiting has prompted many bounty hunters to demand direct cryptocurrency tokens like BTC, ETH, and USDT etc. The major downside is that most of the crypto startups suffer from credit crunch which makes it difficult for them to make instant payments.
TOKPIE has devised a breakthrough solution for this challenge. It would introduce an option for bounty hunters registered on the exchange platform to instantly sell all the stakes earned from different crypto startups.
Steps for achieving the new strategy
- TOKPIE would enter into an agreement with a startup venture for promoting its Initial Coin Offering among TOKPIE’s users and investors. In return for the service the startups would be paying back in future using tokens.
- TOKPIE would issue derivatives against the tokens promised by the startups. A small portion of the promised tokens shall be considered as a fee for the service rendered by the TOKPIE platform.
- These derivatives shall be distributed among the TOKPIE users and bounty hunters in the form of account deposits. The deposits will be made according to the users’ contribution to the whole project of promoting the new startup. For instance, if a user joins the telegram group of the startup, he would receive 0.1 derivatives. Likewise, if a bounty hunter publishes a promotional content, he would receive 200 to 500 derivatives.
- The users have the option of selling their derivatives via TOKPIE auctions. This gives the traders and early investors of TOKPIE a chance to purchase the derivatives. Users also have the option of keeping the derivatives in their account.
- Whenever TOKPIE receives the promised amount of tokens from the crypto startup, it would distribute them proportionately among all the users who have purchased the derivatives or still have them in their accounts.
What are the benefits?
The above-mentioned method of running promotional campaigns can offer multiple benefits to all the participating groups.
Advantages for bounty hunters
Bounty hunters get an instant option to convert their rewards into tokens rather than waiting for 6 months for getting paid.
The process would help TOKPIE’s early investors to purchase stakes or proxy tokens of different startups at very low prices. Once the startups issue their tokens the value of the stakes would be much higher when converted into tokens. Thus the investors can benefit from high ROI.
- Startups can benefit from better promotional activities offered by several bounty hunters. The option of getting paid instantly would encourage more hunters to participate in the campaign.
- TOKPIE doesn’t demand any kind of advance payments for their promotional services. The startups can pay later when they issue the tokens.
- Startups can track the prices of their ‘stake derivatives’ with the help of TOKPIE’s API. The values projected by the price charts would serve as a tool for effective PR.
- Promotional activities through TOKPIE’s platform would also help the startups in availing mutual PR announcements.
- The tokens issued by the startups shall be listed on TOKPIE’s exchange platform.
TOKPIE and its investors
- The entire campaigning would raise the overall demand for TOKPIE’s tokens.
- Several bounty hunters and crypto users would join TOKPIE’s bounty program for getting instant earnings by offering their services. This, in turn, can bring more users to the platform.
- The prospects of buying derivatives at an exceptionally low price can bring more investors to the platform. Over time the investors can reap gains in the form of more valuable tokens.
- The PR announcements can benefit all the parties involved. This includes the startups and TOKPIE users.
- TOKPIE exchange can list the new tokens issued by the startups.
- By the end of the bounty program and conversion of derivatives into tokens, there would be a noticeable rise in TOKPIE’s returns, user base, and trading activities.
The entire process would attract active crypto users to the TOKPIE platform. This would include smart investors, bounty hunters, and traders. It would also help TOKPIE in getting several startups to list their tokens on its crypto-fiat exchange.
Product development stages
As per the details explained in its Whitepaper, TOKPIE would proceed with its development plans. However, for introducing a platform for trading ‘stakes’ derivatives the team would focus on the development of the following systems:
- It would concentrate on developing a platform that enables the users to conduct a mutual exchange of different types of crypto assets. This instant asset trading feature is known as SWAP.
- 2FA authentication and security.
This reallocation of development stages can help the platform in launching its beta version and thereby start making profits by the 3rd quarter of 2018.
Token distribution policies
After its initial attempt to raise funds through ICO couldn’t bring the expected results, TOKPIE will be soon issuing the TKP tokens once again. All the investors that contributed their valuable investments towards the first ICO were refunded. However, based on the past experience the platform has made necessary amendments and the new tokens are based on high-end smart contracts that ensure safe and simple token distribution policies.
This time the platform would not be initiating any kind of ICO or public fundraising programs. The TKP tokens shall be directly issued on the ERC20 protocol. Eventually, the platform’s public blockchain will be used for issuing the tokens. The tokens shall continue to be the lifeline of TOKPIE and the users can exchange and trade them on its exchange platform.
As per the current token distribution policy, there would be 100 million tokens on the whole. These tokens shall be distributed to fund various activities of TOKPIE. The fund allocation plan is briefly explained below:
- From the total of 100 million tokens, 75% would be kept aside as growth reserves. This amount would be utilized for funding various activities of exchange users like marketing, community building, and registration.
- Around 12% would be utilized to compensate the founders.
- The team and associated vendors for the platform shall be remunerated with 9.62% of the total token funds.
- 3% would be used for serving the angel investors.
- 0.38% would be used for rewarding the users responsible for initiating the bounty program.
Current token distribution
The team has decided to distribute the major portion of the 75 million tokens among its first 1 million users who will be joining the platform. The users need to be compliant with the KYC policy of the platform. New users who register with the platform will be receiving a small number of tokens as a bonus. This will help them to cover their initial transaction fees.
This would not only encourage more users to join the platform, but also add to the number of tokens in circulation in a natural way.
Updated token policy
Token holders shall be subject to low trading fees of mere 0.01% of the entire trade volume.
TOKPIE has decided to introduce an affiliate program for re-distributing 36% of the transaction fees collected from token holders.
On a quarterly basis, TOKPIE would buy back its tokens at their market price. The profits derived along with 30% of net profit from Altcoins listing would be transferred to its growth reserve capital.
TKP token holders will have the advantage of gaining from crypto startups making frequent airdrops in return for their Altcoins being listed on TOKPIE’s exchange platform.
These new updates would simplify the entire token allocation system by making the process more logical. It would also clarify the benefits associated with using and holding TKP tokens
The former business model of TOKPIE was mainly associated with the collection of a fixed amount of subscription charges nominated in tokens. But now the system has been redesigned and traders using the exchange will be paying a nominal fee of 0.01% to 0.05% of the traded volume.
The reasons for continuing the system of transaction fees are explained below:
- An absence of transaction fee may encourage certain users to enter into back and forth trading with them. Such manipulative activities may lead to fake trade volumes.
- The system of charging transaction fees is a basic requisite for getting an exchange and its tokens listed on CoinMarketCap.com.
- Based on the transaction fees, TOKPIE would be able to manage and reward the activities of its affiliate community.
- The revenue generated via fees can contribute towards the overall development of the platform.
- Presence of a fee structure would help TOKPIE in avoiding fake transactions. It would also make TOKPIE appear more eligible as a listing platform for crypto startups.