LBank AMA Recap with TOMS
On 12 May we held an AMA with the TOMS team, hosted on LBank official telegram channel. If you missed this telegram session, here’s another chance to get a full transcript of the AMA event.
TOM N TOMS AMA RECAP
We currently operate TOMN TOMS which has more than 500 brand stores around the world, and It has been started in 1999 for 23 years.
The reason why we started this project is to give users memorable membership benefits in the first stage.
and then I am Tom Kim, a manager of TOMS Project
1. Tell us about your ecosystem. What besides the token is included in your ecosystem, and what are you working on now? Will there be any platform releases soon?
Our ecosystem is divided into offline ecosystems and online ecosystems.
In the offline ecosystem, there are our brand stores and partnership stores, and in the online ecosystem, there are metaverse that include economic systems such as P2E and NFT open marketplaces. Currently, we are focusing more on developing an online ecosystem considering the accessibility of global users, and our own NFT marketplace will be launched soon.
2. Hi all. I am very interested in this developed project. Tell us what major steps will be developed from this project at this time? second, what is the strategy so that this project can last a long time and have positive value for us and the developer? Thanks
First of all, thank you for your interest.
As with the previous answer, we are focusing on developing an online ecosystem for the accessibility of various users.
Our project is operated directly by a well-known brand that actually exists, and the utility of online and offline is very outstanding.
The most common problem with existing metaverses is that no matter how many NFTs users have, they don’t feel any significant value and direct impact in the real world. But in our metaverse society, as soon as users own NFTs, there will be options available both in the real world and metaverse.
3. How will the data be stored in the system? What security measures do you have in place to ensure that users’ assets are secure? Have you already secured agreements or partnerships with banks/credit card companies, and filed for licenses with regulators?
We have been reviewed for an audit for tokens through a NOBREAK, and developed our own independent wallet, not a public wallet such as Metamask, and synchronized it to our application.
4. Can you list 1–3 killer features of this project that makes it ahead of its competitors? What is the competitive advantage your project has that you feel most confident about?
TOMN TOMS operates more than 500 brand stores around the world and has been loved and grown for 23 years since 1999.
We have accumulated know-how and infrastructure as we have operated for a long time, and we can quickly grow our ecosystem through direct communication with holders through the Web3 community without having to coordinate with partners like other projects.
This is a very big advantage, and it can also be used to amplify membership benefits.
As a precedent for this, we are currently offering about 50% discount when paying with TOMS tokens through our application MyTOM.
We only serve in South Korea right now, but soon the day will come when our applications will be available to people all over the world!
Also, it would be amazing if we could make goods through NFT of holders, supply them to our stores around the world, and share profits with holders.
5. Almost every investor holds the token for the short-term without understanding the long-term value. So, how can you ensure for us that holding this token is more beneficial for long-term and what is your plan to increase the demand and scarcity of the token?
Token Usage will increase as our store grows every year.
However, because the total supply of tokens is limited, we predict that the price of tokens will rise if the supply continues more than a certain amount.
In addition, TOMS tokens will be used on all future platforms, including NFT launches, transactions within NFT marketplaces, and metaverse, and some of the revenue generated from these will be fixedly incinerated.
Finally, when users use the TOMS Token Staking service, governance tokens are paid in parallel as rewards, which are used to make important decisions for the benefit of users.
For example, holders who own NFTs can periodically hold governance, and the person who receives the most votes will display their NFTs in the offline store and have E2E (Exhibit-to-earn), etc. with the corresponding rental revenue!
When will your tokens be listed on the exchange and which exchanges do you plan to list on in the future?
Thanks for the question, it is one of the most common questions that we have received since we started this project.
We are currently trying our best to be listed on exchanges, however, we are not sure when it will be listed. Exchange never let us know any information about listing. One thing that we can tell you is that we are planning to be listed on the good exchange such as LBank.
What is the Total Supply of Your token , What are is Token Distribution and the TOKEN ECONOMICS?
1. Total Supply of TOMS
- 5 Billions
2. The distribution plan for 2022 is as follows.
TOMS Circulating Supply
Total Supply: 5,000,000,000 TOMS
Current Circulating Supply: 158,774,530 TOMS
Monthly maximum lock-up release volume
January, 2022 (TGE): 160,000,000 TOMS
February, 2022: 171,000,000 TOMS
*Lock-up has been released, but not distributed
March, 2022: 146,000,000 TOMS
*Lock-up has been released, but not distributed
April, 2022: 147,000,000 TOMS
May, 2022: 148,000,000 TOMS
June, 2022: 149,000,000 TOMS
July, 2022: 150,000,000 TOMS
Aug, 2022: 151,000,000 TOMS
Sep, 2022: 152,000,000 TOMS
Oct, 2022: 153,000,000 TOMS
Nov, 2022: 64,000,000 TOMS
Dec, 2022: 65,000,000 TOMS
The above tokens will be used for NFT development and marketing purposes.
The foundation prioritizes stabilizing the price of TOMS tokens.
Staking, NFT is very hottest, do you think you will apply NFT technology to your products in the achieved future?
We also think Staking, NFT is very popular now so we will definitely apply to our production in the future.
Do you have any plans to attract non-crypto investors to join your project? Because the success of a project attracts more investors who haven’t yet entered the crypto world. What are the plans to raise awareness about your project in the non-crypto space?
We will keep promoting our project in our offline brand stores, and our membership benefits are very outstanding so that non-crypto investors can easily participate in the crypto world soon.
According to the roadmap, what is your most important next priority?
Our own NFT will be released soon, and it is a very important step to develop Web3 community.