AMA Recap: Gem Chasers & The Token Network
Below is a full-recap of the AMA, for the gem chasers who couldn’t make it, or for anyone that’s interested. Feel free to have a read!
Telegram: https://t.me/GemChasers
Twitter: https://twitter.com/GemChaserz
Gem Radar ✪:
Okay guys, welcome to another AMA Series for today. With us is The Token Network and The founder of the project @Ben_Kang. Welcome Ben how are you doing?
Ben Kang:
Absolutely great
thanks for having me guys!
Gem Radar ✪:
No problem, always welcome 🙂 Ok for the people who don’t know you as an individual, could we get a brief introduction of yourself and how did you venture in towards crypto? We will then start talking about your project 🙂
Ben Kang:
Ok sure, so if anyone knows me already, it might be from Poker, i used to be a PokerStars Pro and was on TV quite often during the heights of the Poker boom. I am German citizen, although i look asian — that would be my dads fault who was Korean. I studied in the US, Texas A&M and now have been living on Mallorca for the past almost 10 years
By profession, i am a business process consultant. Sounds boring but actually super interesting)
Gem Radar ✪:
You definitely have an exciting and interesting background, do you still play Poker professionally?
Ben Kang:
No, that part is long over. I quit around 2015 i think. Basically, if i would play now (not possible live due to Covid), it would be more for social reasons and fun. Last time would actually be 2 years ago now that i think about it
I do hope to get to the World Series again sometime soon! That was always the most exciting and intriguing part of the season !
Gem Radar ✪:
Got it! Would be cool to see you there again 🥳
Okay, so what is The Token Network? What made you want to create something like this?
Ben Kang:
Ok, so i have been following Crypto since almost the very beginning and was super fascinated by Bitcoin, bought a ton at 7$ and last ones at 34 Euros i believe and then sold all at $125 in panic. Due to the pandemic, i decided to sell my last business on Mallorca (yacht and boat charter) and had lots of time. Played around a ton with DeFI and especially Yield farming projects. I am a super believer in DeFi and very soon it hit me that we need “real world usecases”
So in short, our idea is to connect DeFi Crypto liquidity pools to real business cases and use scenarios that create revenue and profits and not some random phantasy token
Gem Radar ✪:
So what you are saying here in a nutshell, you’re platform is going to be used as an ecosystem to solve some real world use cases. And this will be utilized starting with $TTN?
Ben Kang:
absolutely, we want people to buy TTNP wherever they can to participate in the business cases offered on our platform. so, lets say you love gaming and you like our business case to finance a major game development receiving 50% of all revenues
you will have to buy TTNP and stake it for that use case
afterwards, you might sell your interest gained and that makes the market
So immediately after airdropping the initial TTNP to the TTN owners, we will make it tradeable
Gem Radar ✪:
Love the fact that you’re combining real word use cases with DeFi, which will increase adoption to crypto as a whole.
Ben Kang:
And another beautiful thing which i may add if there is time
Gem Radar ✪:
for sure!
Ben Kang:
there will be no fear necessary for our token holders as the raised capital will be in the liquidity pool and we will always facilitate the exchange of the token for the corresponding part of liquidity. so, what you know as well as me, a lot of token that have no direct value attached they dump hard upon listing. it would be silly for anyone owning our token to sell them in a dump, there will be literally 0 incentive to do so in the beginning as you could just change them out against the liquidity present on our platform
so you can sleep peacefully and not stare at your phone all the time
Gem Radar ✪:
Okay, so seems like we’ve understood here that you’ve played all your cards right. (pun intended haha) You are creating some awesome use cases and an ecosystem that would be mutually beneficial.
So my question is..
Since you have been following DeFi closely, I assume you’d also know about the crazy rug pulls and scams that go on. Now you’re someone who’s had a professional poker career and been on TV before so you are already someone public. But how can we verify this? People want trust. Are you willing to provide this trust for your project? Will you KYC yourself for example, on twitter? and prove that you are not some sort of AI.
Ben Kang:
Haha, yeah well, i wish sometimes i had an avatar. I actually am making a full “KYC” Video today with passport etc to prove that i am who i am. I got asked this before and for sure want to clear that one once and for all. So we will release this together with some more explanation about TheToken.Network today
Gem Radar ✪:
Wow we have some exciting things coming for us today then :)
What is your website, twitter and telegram so users can get some more information as well btw?
Ben Kang:
i am humbled if you find a video of me exciting) but you know what, i will add something really exciting to the video. you just gave me a good idea!
thats our telegram and twitter here:
TheToken.Network (@TheTokenNetwork). https://t.co/YfrJPfKG8e — making digital values
https://twitter.com/thetokennetwork
Gem Radar ✪:
Yes we are really excited LOL
Ben Kang:
i want to say that you will find all our official channels on our website — what you do not see there is not us! so make sure you are on the right channels)
Gem Radar ✪:
It is just because everyone wants to stay safe now and I know you would understand that!
Ben Kang:
absolutely, i have been in bad situations as probably most of us and lost funds
but that is why i came up with this idea
liquidity backed by real values and completely controlled by the community. its the only way for crypto in the future i believe!
Gem Radar ✪:
I love it. So the community will be involved alot with The Token Network
Ben Kang:
https://thetokennetwork.medium.com
want to add that for extra reading)
yes, but its democracy
so you can choose to be active part or you just sit back and let the active community do it for you
Gem Radar ✪:
Once your project is launched, will we be seeing more partnerships thats related to the real world?
Ben Kang:
so as in all communities, i expect vivid participants and silent followers. which is totally ok, because in the end, everyone has a vote
Gem Radar ✪:
I think right now, everyone is watching The Token Network silently. I’m sure this video of you basically doxxing yourself is going to change alot of things.
Ben Kang:
absolutely, and this is the exciting part about growth, in the beginning, we had to define the use cases and convince partners. in the future, they will come to us and propose use and business cases and the token holder vote what they accept and what not
so the growth can go exponential once the outside world sees it live and working
we will see) today we will have it up for you guys
For the platform launch, TTN has secured 4 excellent cooperation agreements with reputable partners offering solutions based on TheToken.Network. Amongst those is f.e. one of Europe’s largest retailer of leasing car fleets and Core X Group.
Gem Radar ✪:
Thats awesome, and on behalf of the @gemchasers community I can tell you now we appreciate that alot :)
Ben Kang:
thanks guys for giving us a chance to present our project!
Gem Radar ✪:
This is amazing so I can see on your official twitter that people also have a chance to win 3 cars am i right? How does that work?
Ben Kang:
with our car partner, we are giving away 3 cars from this business case (financing cars with crypto) from our initial pool. investors receive 1 ticket for each full TTN token they bought and we give one car away per group of participants in our presale, investor 1–50, 51 to 150 and 151 to 400. you can follow this order on our website clicking on our official ETH address for the presale i think we are at 90 something now in bracket 2, so 2 more cars to go. more info also on our medium!
Gem Radar ✪:
Okay, perfect! And EXCITING!
So we have some questions for you from our community which we preselected 3 of them, are you ready to answer them? 😄
Ben Kang:
absolutely
Gem Radar ✪:
@akkurek asks, Will we be able to stake our TTN right after the presale?
Ben Kang:
Yes and actually it is prerequisite to receive the TTNP airdrop, the tickets for the cars and an additional benefit i didnt mention before, virtual real estate in the Open Quest game
by the way, virtual real estate is an insane market at the moment, i read skyhigh figures in that yesterday
Gem Radar ✪:
Yes definitely is a trending market right now, correct!
Ben Kang:
our initial 400 investors will receive virtual assets in Open Quest valued at up to 2x their investment from Core X Group
all those details you can find on our medium
Gem Radar ✪:
Perfect
@treberg_4 asks, what mechanisms TTN using to lock liquidity and tokens? What benefits project get by locking tokens and liquidity?
Ben Kang:
The platform is not “locking” the liquidity, it is being used for business cases, like financing cars or financing a major game development. the corresponding asset for each use case is put as tokenized collateral into the pool.
So the liquidity is “working” generating revenue and profits
Gem Radar ✪:
@AyuVita20 asks, Any small coding error can permanently damage the entire assets of the LPs. This is the biggest risk of Yield Farming . How will you deal with this problem? Has your smart contract been audited by any blockchain system ?
Ben Kang:
We are in the middle of the audit process — but here comes the beauty and i am super happy about this question. No use case on our beta platform as automatisms, as to say it is technically impossible to hijack our system with a flash loan or any such exploit. any funds being withdrawn have to be multisig verified manually.
literally the only way to hack our project is by direct hacking the project wallets which we have insured together with our partner Valchain AG from Switzerland, each on for up to 750.000 CHF
Gem Radar ✪:
Okay perfect, so some good questions today, and we learnt alot about your project as well. AND we learnt something new here which is some updates of you doxxing yourself to the crypto world which will be out later today.
Ben, I’d like to personally thank you for spending your time here with us today and dedicating your time to answer our questions. I hope to see your Liquidity Formation Event (Presale) Succeed. You already doing great, and we want to see you do even better so you will see support from us, especially once you’re doxxed! 🙂
Thank you again 🤝
Ben Kang:
I have to thank you for being able to talk about TheToken.Network !
I wish all of you some nice holidays and hopefully a calm end to this crazy year!
and since there are multiple lockdowns in place and its holidays, go to TheToken.Network and have a little look at the details)
Gem Radar ✪:
Anytime! Hope people take the time to read your project before aping in, haha!
