What Is Toko Token (TKO)?
The Toko Token (TKO) is an Indonesian-based currency that belongs to a blockchain platform called Tokocrypto. To support the project and its future growth, the Tokocrypto platform was developed in collaboration with Binance. If you want to see the current TKO price, check out the Toko token price chart above.
The main aim of Tokocrypto is to bring decentralized finance (DeFi) to Indonesia. The Tokocrypto platform uses the decentralization of blockchain technology to foster new business prospects and community growth, enabling Indonesians to participate in the global financial system. Besides, Tokocrypto was the first organization accepted by Indonesia's Commodities Futures Trading Regulatory Agency (BAPPEBTI).
Tokocrypto also launched its own Binance Cloud-powered exchange that goes by the same name as the platform itself. Tokocrypto exchange provides users with low trading and withdrawal fees, a small amount of downtime, and the biggest variety of token trading pairs in Indonesia.
The Founder of Toko Token
The Toko Token crypto project was officially launched in 2018. The founder of the project is Pang Xue Kai. He is also the CEO of Tokocrypto. Kai has a degree in engineering. Before founding Tokocrypto, he worked as a product design engineer at TechnipFMC. In addition to working with the Tokocrypto project, Pang Xue Kai is also a council member of the Singapore Chamber of Commerce.
The founding Tokocrypto team is also joined by Teguh Kurniawan Harmanda, the COO of the project, and Chung Ying Lai, the CSO.
Use Cases of Toko Tokens
TKO tokens are based on the BEP-20 token standard and stored on the Binance Smart Chain. Overall, TKO is the first Indonesian cryptocurrency that offers a hybrid token model. In essence, it combines centralized finance with decentralized finance by providing a fiat gateway from BIDR to TKO.
In addition to that, Toko tokens have many more use cases, including:
- TKO tokens are utilized to incentivize Tokocrypto exchange users by providing them with trading fee discounts, TKO airdrops, and so on.
- TKO token holders can take part in such programs as TKO Savings, TKO Deposit, and TKO Cashback.
- TKO tokens can be incorporated into several DeFi services, including lending, yield farming, and others.
- TKO tokens will be used as means of payment on the NFT marketplace that will be launched by Tokocrypto.
Besides, make sure to check the aforementioned Toko token price chart if you want to see the current (or previous) TKO price.
Tokenomics of TKO
The max supply of TKO tokens is 500 million. The tokens were distributed between the team, advisors, and the foundation, as well as set aside for private and public sales, product development, marketing purposes, mining rewards, community airdrops, and future partnerships.
Again, don’t forget to take a closer look at the Toko token price chart above if you plan to buy TKO. Why? Because the TKO price is quite volatile, which means it tends to change. Thus, it would be beneficial to analyze the main trends in the Toko token value changes.
Besides, note that Tokocrypto employs quarterly token burns to keep the TKO price from decreasing. Tokocrypto takes a portion of the trading volume generated on the platform to do that. Overall, it’s planned to burn up to 10% of the total supply.
