TERNION: BRIDGING THE GAP BETWEEN TRADITIONAL AND DECENTRALIZED FINANCES
The world has seen the enormous growth in the adoption and use of cryptocurrency recently since its introduction into the world. Towards the end of 2017, we saw how the market increased by $600bn with Bitcoin making a significant portion of this enormous growth and altcoins following the trend. This enormous growth resulted in the introduction of several cryptocurrency exchanges in different parts of the world offering users / traders opportunity to trade cryptocurrency to fiat currency and vice versa. Some of the exchanges include Binance (which is currently the largest exchange by volume), Houbi, Bitfinex, Upnbit, Bithumb and so many others. Exchanges later introduced their tokens that same 2017 to enable users access additional services or discounts. The more the exchange system incentives the use of the tokens, the more the utility for the users and more value for traders.
The benefits which cryptocurrency offers with the use of blockchain technology cannot be over emphasized as they improve transaction cost and speed, are censorship resistance, enhance user privacy and also allow uninterrupted ownership access. Despite these amazing benefits in the use of cryptocurrency, the world is still yet to fully adopt its use due to some shortcomings which it faces including the technology, cryptofinance market and social awareness. The technology is still in infant stage (foundation building stage of its development), cryptocurrency is not issued by a central authority thus possessing an inherent level of uncertainty and also there exist a long way for social awareness of cryptocurrencies to develop.
A team of experts recently came together with their years of experience to critically analyze these existing cryptocurrency exchanges. They discovered these exchanges all have common issues including low liquidity, lack of regulated exchanges, lack of trust in exchange security, lack of fiat gateways, complicated interface design, limited or poor-quality customer support, insufficient anti-money laundering procedures and a fragmented daily use experience among service providers each one having its own interface. Haven taken time to figure out these issues which exchanges are yet to resolve for so long, the team came up with an idea, putting up their years of experience together to bring up TERNION.
Ternion is an idea focused on improving user experience and opening the crypto market to vast majority of contributors that are not currently active in the cryptocurrency space. Ternion has a goal to increase greatly access to cryptocurrency markets as a multi-faceted exchange platform. Ternion has a unique ecosystem which comprises of Ternion Exchange, Liquidity Fund and Ternion Payments. The three components which make up the Ternion ecosystem is overseen by a singular parent entity Ternion OÜ. Ternion has successfully obtained a cryptocurrency license (FVR000209) which permits institutions to operate with cryptocurrencies efficiently and with this Ternion will launch the Ternion Exchange by September 2018. By the second quarter of 2019, payment solutions to both merchants and individuals will be offered by Ternion. Ternion got two licenses, first one issued by Estonian Financial Intelligence Unit (FIU) with license number; FVR000209 and with this Ternion will freely provide exchange services of virtual currency agaiant a fiat currency. The second license has number FRK000174 which permits Ternion to provide a virtual currency wallet service.
THE TERNION ECOSYSTEM
As stated earlier, Ternion ecosystem comprises of Ternion Exchange, Ternion Liquidity Fund and Ternion payments. See functions of each below.
Ternion Exchange: with this payments will be supported, offers first class user experience and usability and also 24/7 support, security and transparency.
Ternion Liquidity Fund: provides ecosystem capital risk hedging sustains ternion exchange trading pool and manages Ternion payments liquidity.
Ternion Payments: with this cryptocurrency will be accepted and fiat received, regulated financial institution and simple API integration. View whitepaper for more information about the Ternion ecosystem, view here, https://ternion.io/TernionWhitepaper_en.pdf.
TERNION TOKEN ECONOMICS
Ternion has its own token with the ticker TRN which is a utility token based on ERC-20 Ethereum blockchain. TRN token will support the Ternion’s ecosystem and will be the core payment mechanism for all forms of goods and services which will be exchanged through the Ternion Ecosystem. With the Ternion token (TRN) users can pay for access to additional plugins on the Ternion Exchange, pay for coin and token listings on the Ternion Exchange, trading fees, pay for advertising with Ternion Exchange, pay for merchant fees and also pay for fees for cross exchange liquidity purchases. TRN tokens only have value in Ternion ecosystem and can be held in compatible ERC20 wallet. TRN tokens have 4 decimal places and are also exchangeable on cryptocurrency exchanges.
TOKEN SALE
The total maximum supply of Ternion tokens (TRN) is 95, 000, 000 TRN. There will be a pre-sale during which 22, 500, 000 TRN tokens will be made available for purchase and a public sale during which 53, 500, 000 TRN tokens will be made available for purchase together with any unsold tokens during the Ternion presale. The softcap is targeted at $5, 000, 000 and hardcap is targeted at $30, 000, 000. The Ternion token sale has been splited into Pre A, A, B, C rounds. Presale and public token sale. The first round which is the presale (Pre-A round) will run till 28TH June 2018 and this Ternion will be allowed to raise funds necessary to begin building the exchange, having Minimum Viable Product (MVP) reaily available during the Ternion Public Token Sale.
Upon completing the Ternion Pre-sale, the public token sale will commence immediately with three different rounds. First round (round A) will commence 29TH June, 2018 and last till 29TH September, 2018 during which 22, 500, 000 will be readily made available for purchase at a rate of 0.65 USD per TRN and maximum discount of 35%. The second round (round B) will begin 30TH September, 2018 and last till 30TH June, 2019 during which 41, 500, 000 TRN tokens will be readily available for purchase at a rate of 2.10 USD per TRN and 30% maximum discount. The third and last round (round C) will be TBA during which 12, 000, 000 TRN tokens will be readily available for purchase at 3.23 USD. Minimum contribution allowed during the Ternion public token sale is 0.1 ETH. High grade discounts will be made available to people who contribute more than $125, 000 and they will be contacted personally by the Ternion sales team. Also, after the Ternion token sale, all unsold tokens will be destroyed by the Ethereum smart contract and this will be done on the last day of the token sale and TRN tokens will be issued to contributors within one month of the conclusion of the Ternion token sale final round. There will be a refund if Ternion fails to reach its softcap of $5, 000, 000 with all money contributed excluding the charges.
TOKEN DISTRBUTION
Tokens generated will be distributed such that 80% of it goes for the Ternion token sale, 12% of it goes to reserved for Ternion Team with five-year vesting, 5% goes for reserved for Ternion advisory borad with one-year vesting and the last 3% to reserved for Ternion Bug Bounty Program.
FUNDS ALLOCATION
The funds raised during the Ternion token sale will be distributed such that;
Ternion Growth Capital receives 20% of which the 20% will be used between marketing and promotion (90%) and token bounties (10%).
Ternion Liquidity Capital receives 50%
Ternion R&D Capital receives 30% of which the 30% will be used such that 50% of it is used for exchange development and the other 50% used for payment development
TEAM
The Ternion team is made up smart intelligent experts with years of experience. They include;
Rudolfs Medvedevs: Founder & CEO
Gary Sum: CEO of Ternion China
Anatolii Lytvynenko: Blockchain development lead
Vladimir Platonov: Chief legal officer
Alex Ariestov: Lead developer
Yaroslav Boiko: Software lead
Clara Florey: Communications specialist
Valeria Cealic: Marketing and PR lead
Oliver Cheatham: Digital Marketing specialist
Artem Shabanov: Lead web designer
Merlock Fairwood: Content manager
David Mark: Chief growth officer
Eugene Petrov: Creaative content writer
Viesturs Bremze: Senior investor relations CIS and Europe
Roberts Erdmanis: Investor relations Western Europe
ADVISORS
Gareth Rhodes: Blockchain advisor
Jill Godsil: Blockchain advisor
Arthur Linuma: Blockchain and ICO Advisor
Ian Scarffe: Blockchain Advisor
Roger Crook: CEO of Springboard
Mark Noorlander: Co-Founder of Flashboys
Ternion is definitely one project I will strongly advice you take a close look at today by visiting the website and whitepaper for more information. Also make sure you are part of the success story. Also, stay connected with the Ternion team and other participants across the globe through the different Ternion social media platform whose links are provided below.
Website: http://www.ternion.io/
Whitepaper: https://ternion.io/TernionWhitepaper_en.pdf
Ann Thread: https://bitcointalk.org/index.php?topic=4623236.msg41743899#msg41743899
Telegram: https://t.me/TernionOfficial
Twitter: https://twitter.com/ternionofficial
Facebook: https://www.facebook.com/ternionofficial/
Medium: https://medium.com/ternion
Reddit: https://www.reddit.com/user/ternionofficial/
Written by: teejayrichard
Bitcointalk link: https://bitcointalk.org/index.php?action=profile;u=1265803
Wallet address: 0x937fe2c8bd616344a9Be33fDEC04D6F15f53c20F