Token Changer (TOC) ICO Review – ICO Token News
Everything is being tokenized on the blockchain. From financial and physical assets to events, work, activities, business networks and even time. In the beginning, web based centralized exchanges like Mt Gox, BitStamp, Kraken, Bitfinex, Coinbase etc were set-up to provide a means of exchanging blockchain coins and eventually tokens. The drawbacks of web based centralized exchanges has lead to the emergence of decentralized exchanges that use smart contracts to protect users from internal fraud and exchange hacks. Some of these exchanges are EtherDelta, OasisDEX, Ox and AirSwap. So, what does Token Changer bring to the table?
Before answering that question, it would be useful to point out the commonality between centralized and decentralized (DEX) crypto exchanges. Currently both exchange types support transactions having two attributes: quantity and price.But buying, selling, giving or receiving value is more complicated than this. In financial services, there are hundreds of trading protocols having a multiplicity of transaction attributes. For example, an options contract has three attributes: quantity, price and time. Buyers and sellers of an options contract need to open and close their position within a predetermined time.
The same applies to various industrial sectors. For example a blockchain token powering a reward program might have quantity, value and qualification rules. Thus to receive the token you have to do something or buy something.
A New Game
Imagine a platform that can handle simple transactions like the trading of tokens and money remittance as well as complex transactions like futures contracts, debt securitization and invoice discounting.
Furthermore, imagine that the software powering the above listed transactions can be run on multiple blockchains to provide security and that users can interact with the software through a web browser. In January 2017, we imagined these possibilities and today, we have built it. The Token Changer decentralized financial applications platform is live now on the Ethereum blockchain. You can trade dollar futures on the platform, earn a reward token called Block Points when you play market making roles in exchange transactions. You can also exchange this reward token for the platform’s token called the TOC.
Token Changer dramatically extends the scope and mission of current decentralized exchanges.
An Exchange protocol is a set of rules and methods that govern the exchange of value between two or more parties. Exchange protocols are designed within the framework of our order book technology and the blockchain, in particular the ethereum blockchain.
With the tokenization of everything gaining momentum, we see a vast innovation space for various types of exchange protocols of varying complexity. Some of these exchange protocols will be doing old things in new ways and some will be completely new.
Distributed Financial Applications (DApps)
Peer-2-Peer: Peer-2-Peer is applied to distributed applications used by peers. This could be individuals transacting together or businesses transacting together.
One-2-Many: This is a category applied to DApps that mediate value exchange between an organisation and its public. Examples include a flash sale or an initial coin offering application
Many-2-One: This is the reverse of One-2-Many. A reverse auction application where many buyers bid to buy a product or service from one supplier will be classified as a Many-2-One distributed application.
Native Tokens are blockchain tokens issued by Token Changer. They are central to the design blueprint of some exchange protocols. It is worthwhile to note that not all exchange protocols incorporate native tokens in their design, some do and some don’t. A native token is processed by DApps that implement the associated exchange protocol. There are currently two native tokens on the Token Changer platform: the TOC and Block Points. The behaviour and rules governing the exchange of these two tokens are outlined in the Genesis exchange protocol. The TOC is a market traded token of which 20% of the total mint is held in reserve to reward market makers on the Token Changer platform. Another 30% of the total mint is sold to during an initial coin offering (ICO).
We define a Token Network (TN) as a group of actors whose adoption of a Token Changer native token amplifies the economic utility of the token for all actors within the group. Depending on the purpose of the token, this group of actors can come in many configurations. Air Miles is an example of an off-chain artefact that has similarities to a Token Network. The early adoption of Air Miles by important group actors (airlines) increased the utility value of Air Miles (equivalent to a blockchain token) for another set of actors (consumers) within the group. The adoption of Air Miles by consumers once again increased the utility value of Air Miles for merchants outside the airline industry. Check ICO list to know more about ICOs.
- Alexis BizalionCo-founder
- George EzechukwuCo-founder
- Luke SherwoodCommunity Manager
- Rob MoyaFront-End Engineer
- Mike MaurerCustomer Experience Mnrg
- 1Jan 2017
Idea iteration and development.
- 2Dec 2017
Major development milestone. Platform is 90% completed. Three different types of Exchange Apps deployed on the Ropsten testnet.
- 3June 2018
Initial Coin Offering.
- 4September 2018
Develop DApps Oracle and Alarm Clock
- 5October 2018
Token Minting & Trading DApps
Launch Minting DApp for Stable Dollar Token. Launch Trading DApp for ETH/USD
- 6Dec 2018-19
Token Minting & Trading DApps
Launch Token Minting Dapps for Major Currencies. Launch Trading DApps for Crypto and Fiat Currency Pairs
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