Many countries are still on the edge of taking a stand on blockchain technology. All thanks to the leading innovators and entrepreneurs who invested their time, money & knowledge to bring crypto trading to the general public. Exchanges like Binance, WazirX are some of the leading players penetrating the tough markets. To join the list we have Tokocrypto, Indonesia’s first hybrid digital asset exchange that aims to become the market leader by providing a user-friendly platform that gives access to every cryptocurrency product available in the market. Powered by TKO token, does it have the potential to become the Binance of Indonesia? Let’s find out the answer in this review –
What is Tokocrypto?
Tokocrypto is the first hybrid digital asset exchange in Indonesia. Launched in 2018, it became the first exchange to be registered under the Commodity Futures Trading Regulatory Agency of Indonesia which means crypto-assets can be traded on the commodities exchange under the supervision of the Indonesian trade ministry.
Tokocrypto is 100% owned by Binance.
In a short span of 3 years, Tokocrypto registered 200% growth in community and 20X growth in the user base. It has also achieved multiple milestones including 1.5 million+ users, $190 million+ daily trading volume and over 2 million app downloads, making it the fastest-growing Indonesian exchange (Source: Whitepaper).
Tokocrypto launched Binance IDR (BIDR), a BEP2 stablecoin pegged against Indonesian Rupiah
What is TokoCrypto Coin TKO?
Tokocrypto Coin or TKO is a BEP20 token and the first local Indonesian cryptocurrency project that offers a hybrid token model combining Centralized Finance (CeFi) & (Decentralized Finance) DeFi utilities. The token serves the following utilities –
- Exchange Platform Token
- Deposits & Savings program
- DeFi Applications
- NFT Arcade
Exchange Platform Token:
TKO is used to avail trading free discount. Token holders are also entitled to receive airdrops, special merchandise and other incentives.
Deposits & Savings Program:
TKO can be used in deposits and savings programs like TKO Deposit, TKO Cashback and TKO Savings.
The extended use case of TKO token includes integrating it into third-party DeFi protocols for lending, farming, staking etc.
TKO will serve as the mode of payment between the creators and buyers on its NFT marketplace i.e TokoMall.
TKO is also the backbone of Tokocrypto ecosystem i.e Tokoverse which includes the exchange (Tokocrypto), Community hubs (T-hub), NFT marketplace (TokoMall) and much more.
TKO has a total supply of 500 million tokens. The complete breakup of tokens is shared below
The token release schedule extends till Jan 2026 –
Every Quarter, Tokocrypto will use 10% of its revenue to burn upto 10% of TKO token supply, making it a deflationary currency.
Tokocrypto TKO IEO:
On 7th April 2021, TKO was launched on Binance launchpad, receiving over 50,000% oversubscription. The token was offered at a discount sale price of just $0.1 with no lockup period.
A Look into Tokoverse:
Tokoverse is the ecosystem of the whole project. It covers a range of products in-line with the crypto world –
TokoMall is the first NFT marketplace in Indonesia that can be accessed globally by anyone with Binance Smart Chain compatible wallet like MetaMask, Trust, SafePal & WalletConnect.
Tokocrypto was launched with the aim to educate people about cryptocurrency. This thought gave birth to TokoScholar which aims to empower the growing crypto community via its own mobile app i.e Kriptoversity.
Crypto enthusiasts can use the app to learn about blockchain technology, the benefits of cryptocurrencies and other TKO product offerings.
T-hub is Toko’s offline community hub located in Bali, Indonesia. It will be a place where the members can interact and share technical knowledge and ideas pertaining to the crypto industry. The target audience includes traders, developers, NFT artists, banks and institutions.
T-Launchpad aims to be the leading launchpad for new crypto projects. It will be a gateway for Indonesians to access new and promising projects before getting listed on the exchange. In order to participate and be eligible for whitelisting, users will have to verify their identity by following the platform’s KYC process. It will have an incubation program for blockchain projects which will be similar to that of Cardence Launchpad. TKO holders will get priority exposure to the global projects
Tokoverse will soon launch its own Metaverse and Tokonews.
Tokocrypto Team Members:
Toko has 5 core team members with Pang Xue Kai as the Co-Founder and CEO of the project. Kai is a cryptocurrency advocate and the governing council member of the Singapore Chamber of Commerce Indonesia. The complete details and social handles of each of the team members can be accessed from Tokocrypto Litepaper.
Tokocrypto is the first crypto entity to be legally registered with Commodity Future Trading Regulatory Agency Indonesia (BAPPEBTI). Moreover, Tokocrypto’s operational system is integrated with Indonesia Clearing House (ICH) and Peruri, a state-owned securities and bill printing company.
Tokocrypto network is audited by the leading blockchain security firm Certik, thus adding a layer of trust to the system. It also has ISO 27001 certified data information system and ISO 27017 cloud management system providing data privacy and safeguarding the investments.
Tokoverse is in a growing phase. It has a multitude of products to offer to the public. From NFT marketplace (TokoMall) to Metaverse, things are just getting started for TOKO. There’s a big room for growth, giving the chance to early adopters to jump in and secure their profits.
Tokocare is the CSR arm of the organization which is committed to the social welfare of the public. During the pandemic, Tokocare raised 222 ETH within 4 hours via NFT fundraising to help supply the oxygen cylinders to the Indonesians which highlights the power of the cryptocurrency community on a global scale.
Tokocrypto has done an excellent job by getting themselves legally registered. However, situations are far from stable. Cryptocurrency isn’t yet legally recognised in Indonesia and it will take some time and effort before we can see a green flag. The legal pressure will always be there.
Although Tokocrypto is a fully developed product, its native products i.e T-Launchpad, Metaverse and T-Hub are evolving and need more work before they start attracting users. It’s a matter of time and effort that the team has to put in to develop & deliver promising projects, on-time.
Tokocrypto Strategic Investment:
Tokocrypto has invested in 5 early-stage blockchain startups in Southeast Asia. These startups are –
- Avarik Saga (Indonesia)
- Nanovest (Indonesia)
- Play it Forward DAO (Singapore)
- Avarta (Singapore)
- Diamond Protocol (Singapore)
Tokocrypto is backed by Binance but the complete funding for these startups will be going from its own pocket. Via investing the company aims to support the promising web3 projects of the future.
Tokocrypto Coin Price:
Check the latest TKO coin price, shared below –
Tokocrypto Coin Price Prediction:
Launched in 2021, Tokocrypto coin made an impressive debut. A month after its listing on Binance, it reached an all-time high of nearly $5 per token. The coin tried to regain previous highs in the November bull market but had to settle for $3.5 per token.
2022 market crash shook the entire crypto industry, taking the price of TKO below $1 mark, registering an all-time low of nearly 60 cents before stabilising in the zone for a few months.
On the bright side, the 2022 bull market is about to commence anytime soon. The token has moved above its lows and is set to hit $1 mark. It won’t be long for it to break the previous high and move towards $10 mark which is the possible price prediction if the bull market is sustained for more than 2 months.
Where to Buy TKO Coin?
TKO is available on all the leading exchanges like Binance, WazirX and its own exchange i.e Tokocrypto.
Is Tokocrypto worth investing?
Launched in 2018, the project has come a long way. It has achieved impressive milestones, amassing over 1.5 million users and registering over $190 million in daily trading volume are some of its top achievements. The vision of the team has expanded further into building a multi-product ecosystem.
From TokoMall to T-Launchpad, Tokoverse has some serious offerings for users. In the end, it all boils down to the success of the products offered by the platform. Tokocrypto is clearly a winner in Indonesia. Riding on its success, are upcoming projects like Metaverse and TokoNews. TKO does have some serious potential if the majority of its projects replicate the success of its exchange.
From a legal standpoint, everything looks good. Apart from becoming a leading digital asset exchange, Toko is transforming itself into a behemoth organization with different wings to operate. If the team became successful in this endeavour then the sky is the limit for TKO.
Clearly, TKO is one of the rare cryptocurrencies you should keep your eyes on. The only drawback it will have are the government regulations which will keep on fluctuating until cryptocurrencies become a legal entity in Indonesia.
This completes my review of Tokocrypto. In the next post, I will talk about Solcial network & FADO Go. If you’re a blockchain technology fan, share this post on your social handles and educate everyone around you. Do remember to subscribe to my YouTube channel for more informative content, released every week.
Cryptocurrency is a highly volatile market. All the information shared in the post is for knowledge purpose only. By no means, it’s financial or investment advice. Readers are responsible for their own investment decisions and should only invest in cryptocurrency after proper research.
Paras is a blockchain writer & video creator at Katoch Tubes. In his free time, he loves watching space exploration documentaries & Hollywood movies.