The Tomocoin project is based on three products. Firstly, they have the TomoChain, which, according to them, is an innovative solution that will address the scalability issues the blockchain is currently facing. TomoChain is a blockchain infrastructure that will reportedly support horizontal scaling, extremely low — near zero — transaction fees, and smart contracts. TomoChain is expected to serve as a second-layer blockchain, and it is tasked with solving the Ethereum blockchain’s scalability issues as well improve its performance and efficiency. Additionally, TomoChain will likely facilitate atomic cross-chain transactions between Ethereum and Tomochain, it also stands to inherit features like an in-built exchange protocol and ICO smart contract templates.
The project claims that TomoChain is a suitable solution for DApps, token issuance, and token integration for all sizes of businesses. They have a working testnet, and interested parties can check it out.
Secondly, they have the TomoApp. The app supports a social network that has its own cryptocurrency in a manner similar to Steemit’s. According to reports, user privacy will be of paramount importance on the social network, and contributors are to be rewarded; the TomoApp is also expected to facilitate cheap and speedy micropayments. Furthermore, the team wants to use the TomoApp to create a Q&A library powered by its community. A beta version of the TomoApp is available on iOS and Android.
Lastly, they have the TomoWallet, a cryptocurrency wallet that seeks to ease the process of buying and selling coins for both newbies and crypto enthusiasts. The wallet will reportedly be designed in such a way that users can secure their tokens on either Ethereum or TomoChain. Additionally, users should be able to send/receive various coins as well as messages. A working demo of the TomoWallet’s web version can be found here.
The Tomocoin token, TMC, is expected to be an ERC20 token and it will allegedly be the governing currency on the platform; it should also serve as a medium of exchange in the community. A percentage of the TMC tokens is to be used to power a reward engine, an engine that should provide users with a financial incentive to create valuable content — e.g. DApps — on the network over a time frame of 8 years. Afterwards, the project assumes that there would no longer be a pressing need to incentivize; this assumption is based on the belief that a network effect would have been established.
Hard Cap and Valuation
There will be a total of 100 million TMC tokens and the Tomocoin project hopes to raise $8.5 million for 50% of the token total. Tomocoin raised $7.5 million during their private sale, so only $1 million worth of TMC tokens will be available during their crowdsale. The remaining 50% is shared thus: 35% is reserved for ecosystem building activities and the final 15% goes to the team, their advisors, and towards bounties.
The tokens reserved for ecosystem development will be distributed among users and developers within the Tomocoin community based on their contributions to the network; they will be released partially over an 8-year period. The team tokens are also vested over a 4-year period.
Unsold tokens will be kept by the company and locked for a year.
Price Per Token
1 TMC = $0.25
During presale, 1 TMC was worth $0.2.
TMC presale is over and their public sale is expected to start on the 1st of March, 2018. The official launch of TomoChain is scheduled for the third quarter of 2018.
- Director of the Qlink Foundation.
- Advisor to various other projects in the crypto sphere.
Team Members’ Areas of Expertise
Long Vuong, Co-Founder & CEO
- Project Lead at NEM Blockchain for 9 months
- CEO of CityMe for almost 2 years
- PhD candidate in Economics.
Ho Le, Co-Founder & CFO
- Senior Manager for Investment Management at BIDV-Vietnam Partners Investment Management for 11 years.
- Director for Investment Banking Division at HoChiMinh City Securities Corporation for 9 months.
Target market experts
Long Vuong, Co-founder & CEO
- From his time and experience at NEM.
Son Nguyen, Co-founder & CTO
- Due to his developmental contributions in the crypto sphere.
No team member with notable marketing expertise.
No team member with legal expertise.
Software engineering experts
Son Nguyen, Co-Founder & CTO
- Web Team Lead & Solution Architect at Sigma Solutions for almost 3 years.
- Senior PHP Developer at Open Digital VN for almost 2 years.
Tung Hoang, Co-Founder & Product Manager
- Open Source Developer for two years.
- Windows Phone Developer at Thu Do Multimedia for almost 3 years.
- His Github.
Minh Chu, Co-Founder & Director of Blockchain Research
- Chief Cloud Architect at VCCloud for 9 years.
- Chief of Technology Management Department at FTD for nearly a year.
Blockchain development experts
Son Nguyen, Co-Founder & CTO
- Contributor to various projects in the crypto sphere (including Ethereum and DASH).
- His Github.
Token sale structure experts
Long Vuong worked at NEM and is studying economics, so he brings a lot of token sale structure know-how to the table. Additionally, the Tomocoin project is connected to many other notable names in the cryptocurrency sphere.
Token economics experts
Same as above.
- Nothing written in this article is a legal or an investment advice.
- Information is provided on a best-effort basis and is subject to change without prior notice. Be sure to verify everything you read with a project team.
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