Thanks a lot for actively participating in the Token Republic AMA held on 27th January 2021 on NULS Telegram Channel. We really appreciate all your support. This post is a recap of the entire session held with Token Republic
Berzeck (NULS): Hello NULS Community! This is Berzeck, NULS western Director and Nerve’s founder
Tonight, I am very pleased to introduce Patrick Howard CEO and Founder, and the Token Republic core team, Ashit Rathore, backend developer, Jack Kettley, front end developer and Rex Yu, front end developer.
Let’s welcome the team to explain more about the Token Republic.
Alright! Lets start with Section 1 of this AMA with some questions from our team and some basic information as well
Berzeck (NULS): Could we get a brief overview of the Token Republic?
Patrick (TokenRepublic): The Token Republic offers an efficient crowdfunding platform for entrepreneurs and developers to build their business with fewer intermediaries, Crowdfunding is the ideal industry for blockchain to enter into and augment. We want to provide an efficient, accessible, comprehensive and global crowdfunding platform that allows businesses to launch campaigns with ease, allowing them to focus on development.
Berzeck (NULS): just to be clear projects need to be crypto related ones?
Jack Kettley (TokenRepublic): Our dashboard platform allows the issuacne of ERC-20 tokens that can then be used in crowdsale campaigns and sold to investors.
Berzeck (NULS): but the projects that can be crowdfunded need to be crypto related or any project can be apply? for example want to film a movie
Jack Kettley (TokenRepublic): Projects do not need to be crypto based, any good project should have an incentive for people to invest.
Berzeck (NULS): 👌🏻👌🏻 understood! next question:
Can you detail a few motives for the project?
Patrick (TokenRepublic): Our Global team of business and technology experts are committed to blockchain, decentralization and community-building. The Token Republic team is backed by some of the industry pioneers in both blockchain and traditional web software development. We are backed by The Web Company NZ Limited, award winning since 2004.
Our mission is to bring global crowdsourcing onto the blockchain system. We want to bring borders together and make it easier for businesses to fund their projects without resistance and to provide virtual governance for globalization
Berzeck (NULS): having real names in a project is always a good sign. it's great that also a company is backing the project directly
What is your roadmap for the next 6 months?
Patrick (TokenRepublic): The Immediate Goals:
Launching Crowdsale campaigns on the Token Republic platform.
Launching ERC-721 NFT standard on the Token Republic dashboard before March 2021.
Generating liquidity/market on our TRG token.
Long-term 6-month goals:
Adding ICO marketing solutions to help entrepreneurs develop a successful crowdsale campaign, this will include services such as tokenomics consultancy, whitepaper and landing page design.
Migrating our smart contracts to the NULS smart-chain.
Berzeck (NULS): that sounds pretty aggressive, i am sure holders will be happy with the progress being made as you know having real names behind a project helps a lot with credibility and transparency ... so many scams in crypto
Can you give us some detail on what is the core team’s background?
Patrick (TokenRepublic): Token Republic team is backed by some of the industry pioneers in both blockchain and traditional web business as well. We are backed by The Web company https://www.thewebco.co.nz/ with a team of 30 and have been in operation since 2004, that Patrick Howard is also CEO of.
The Core team is - Patrick Howard believes in empowering people and following the notion that the sum of many is greater than the sum of one. 30+years’ experience. Also the CEO of Token Trolley, Bpay and TOL Enterprises.
Rex Yu, web developer, is a passionate web developer at Token Republic. He started his programming life during his university time. He believes that technology can change everything positively.
Ashit Rathore, software developer at Token Republic, is an experienced backend and web/mobile application developer. He is a self-starter and solution-oriented person. He is a key player in analyzing the business requirements and implementing the technology for Token Republic.
Jack Kettley, web developer and tokenomics consultant at Token Republic, is a student at the University of Auckland studying computer science with a passion for new technologies and is energized by the future applications of blockchain, decentralization and machine learning.
Berzeck (NULS): well, we had several meetings already so I am sure you guys are real people building a real project 😅😅
its great community and investors know your team more closely
Patrick (TokenRepublic): yes, thanks, this is a consistent journey that we will never give up on.
Berzeck (NULS): So,which unique characteristics were there to make you pick Nuls to build your platform on?
Jack Kettley (TokenRepublic): Hardening the design and shortening our time to market — NULS provides development and design expertise. Our token profitability: NULS and Token Republic benefit from each other’s success.
We are working closely with the NULS team and are planning to develop our smart contracts on the NULS Chain in the future, this is on our roadmap and we plan to deliver this within the next 6 months.
Berzeck (NULS): last question!
Can people participate in SCO now?
Patrick (TokenRepublic): Yes you can participate into the SCO now and start earning TRG right away.
The POCM will have 5 years of distribution and our token allocation offers numerous rewards to the NULS community and backers throughout this time.
For more information about our POCM visit: https://medium.com/token-republic/token-republic-live-on-nuls-pocm-98b58cc66193
Jack Kettley (TokenRepublic): Thanks, Berzeck for the introduction and questions.
Our team received many great questions from the community before the AMA and now we will move on to answering the best of them.
Berzeck (NULS): this concludes section 1... lest continue with section 2
@Ming Liu asks: Does your development team have the experience to write smart contract in NULS chain?
Ashit Rathore (TokenRepublic) We are working closely with the NULS team and are planning to develop our smart contracts on the NULS Chain in the future, this is on our roadmap and we plan to deliver this within the next 6 months.
Our current contracts are written in the ERC-20 Utility token platform, we are hoping to diversify our platform within the coming month within the introduction of the ERC-721 NFT standard.
@Crypto SF asks: What is the TPS for transaction time for dashboard?
Patrick (TokenRepublic): Our platform is self-service, we are using MetaMask, a crypto wallet and gateway to decentralized applications, the transaction time of token issuance and crowdsale launches using MetaMask are instant.
Question by form: How are you going to solve the issue with cross border justrisdiction laws around crowdfunding and the investor protection?
Ashit Rathore (TokenRepublic): Our Dashboard of onboarding, DIY, they do it all themselves, DWY, we do it with them, DFY, Done for you, we get specialists in the relevant company jurisdiction to advise the client. So essentially, dependent on what Jurisdiction the project is in will determine the relevant laws.
Question by form: How is team going to coupe the future development of the project in terms of marketing making and coin liquidity. Your team does not have any traders how you are over coming that?
Ashit Rathore (TokenRepublic): We have launched on Goblin swap a decentralized exchange platform, which includes AMM (Automated Market Maker). We are working closely alongside the Nerve Network team who are currently exploring liquidity pools on their NeveDEX exchange, we also hope to list on other exchanges and build our liquidity as the project matures.
Question by form: Is TRG an open source project if so when will it be love on github. If it’s not open source how you manage your networks integrity?
Ashit Rathore (TokenRepublic): Our dashboard is based on Ethereum blockchain. We will be launching our own blockchain in next phase and then everything will be available on github
@Stefan Baranowski asks: As well as a clear vision for the project going forward, is there a particular aspect of marketing you will be pushing to improve overall brand exposure in an already crowded industry?
Rexy (TokenRepublic): We are continuously looking grow the project, alongside partnering with NULS we are also working closely with other blockchain projects and will continue to be dedicated to expanding and diversifying our community.
@nidhom_sadewa asks: If one of the projects collaborating with Token Republic commits fraud/rug and of course, it will also impact token Republic. Will Token Republic provide compensation to the community? Or is their insurance for the community if this happens?
Ashit Rathore (TokenRepublic): We are the dashboard/platform provider. We will ensure that all the risks of investing are published for all to see and the investor will have to do their due diligence. Of course, it would be in the project owners' best interest to offer security as that would attract more interest from investors.
@sumo asks: Q: Which country is your project based? Do you have a physical office?
Rexy (TokenRepublic): Yes, we are located at the same location as our parent company - The Web Company https://www.thewebco.co.nz/contact-us/ Auckland, New Zealand.
@Tolga Özek asks: Will you create a NFT Based platform and work with freelancer artists?
Rexy (TokenRepublic): We are beginning to develop contracts on the ERC-721 NFT standard to add to the dashboard. We are already in contact with artists that want to use the Token Republic Dashboard to issue Non-fungible tokens. Digital artists notoriously experience a lot of difficulties when it comes to protecting their copyright online. Thanks to NFTs, digital artists can safely sell their works. Non-fungible tokens and their smart contracts allow for detailed attributes to be added, like the identity of the owner, rich metadata or secure file links — all of this greatly helps artists have copyright over their work?
Jack Kettley (TokenRepublic): We want to thank the community for the questions and engagement over the last week.
Thanks @Berzeck1 for the introduction!
We will continue to be active and online.
Feel free to ask us anything!
Berzeck (NULS): Ok guys! you can ask a few questions now!
@Ivancrypto1: How will crowdsales work? Will it be done through decentralized mechanisms?
Jack Kettley (TokenRepublic): Our crowdsales work by issuing ERC-20 tokens on the platform you can then allocate these tokens to a crowdsale campaign, these campaigns are accessible on an active campaigns page on our dashboard, where investors can sign up and buy these tokens. Our transactions are handled via MetaMask and our contracts are written using the openzepplin library. https://medium.com/token-republic/token-republic-dashboard-live-13856037c752
@João: As I I noticed Token Republic started to develop contracts on the ERC-721, why not start develop contracts on the NRC-721? Thanks
Ashit Rathore (TokenRepublic): We are working closely with the NULS team and are planning to develop our smart contracts on the NULS Chain in the future, this is on our roadmap and we plan to deliver this within the next 6 months.
@Kathy Norman: Do I have to be blockchain savvy in order to use your products? Also, how do you plan on attracting customers?
Jack Kettley (TokenRepublic): our main ethos is accessibility. We want to attract customers with a platform that is easy to use, both for investors and businesses.
@Édipo Lima: How can blockchain technology contribute to the development and scalability of the project? and how will investors have their first contact with the platform?
Jack Kettley (TokenRepublic): We are trying to develop a very accessible dashboard, that with just a few clicks you can sign-up and buy tokens, we want investors and businesses to have an efficient and accessible experience, alongside this in the future we want to work alongside start-ups in marketing their campaigns.
@Viriat0: Is it necessary to have TRG to participate in the crowdfundings?
Jack Kettley (TokenRepublic): No. There are no prerequisites when participating in crowdfudning, other that you hold ETH to purchase campaign tokens with.
Vasilievki (nuls_ultimate node): Does the process of crowdfunding is overwatched by the Token Republic team, or will it be fully decentralized?
Jack Kettley (TokenRepublic): the process of crowdfunding is completely self-service and decentralized, we will monitor the crowdsale campaigns that are on our platform, however we are trying to eliminate as many intermediaries as possible.
Vasilievki (nuls_ultimate node): What do you mean by monitoring?
Jack Kettley (TokenRepublic): make sure there are no scams and such.
@Manuel: But like you Said before, you will have a, DFY, done for you, were you get specialists in the relevant company jurisdiction to advise the client. How do you pretend to do that? Do you already have partnerships with law firms, to be able to advise your clientes?
Patrick (TokenRepublic): Im not what you mean by pretend to do that. Yes, we do already have resource in place to advise, dependent on what jurisdiction the project founding company is in.
@Manuel: What is the diference between TRG and POCM?
Patrick (TokenRepublic): TRG is the Token Republics token, POCM is NULS proof of credit mining, stake NULS into our project at https://pocm.nuls.io/pocm/Projects/ProjectsInfo?releaseId=56 and earn TRG as a reward.
@Manuel: I know this, but pocm is already a "crowdfunding" platform, what differentiates you from already existing pocm?
Jack Kettley (TokenRepublic): our platform is for any start up or business wanting to fund their project using blockchain technologies, we want to create an accessible platform for both investors and start-ups without much crypto knowledge and in the future, we want to bring in marketing solutions to help startups with the tokenomics of their project, whitepaper, landing page design, marketing and more. We are also working on bring the ERC-721 standard to The Platform, so artists and such can tokenize their work. We are trying to build compressive ecosystem of accessible decentralized finance technologies.
@João: What is the use case of the token if users don't need to hold the TRG to join crowdfundings?
Jack Kettley (TokenRepublic): TRG may be integrated into our platform in the future, right now our focus is creating value and liquidity around the token, we have launched on Goblin swap a decentralized exchange platform, which includes AMM (Automated Market Maker). We are working closely alongside the Nerve Network team who are currently exploring liquidity pools on their NerveDEX exchange, we also hope to list on other exchanges and build our liquidity as the project matures.
Patrick (TokenRepublic): We are offering different funding options being ERC20, NFT and P2P all under the 1 dashboard. , plus, DIY, DWY and also DFY
Dougie: What do you currently see as your main purpose and how will that benefit the token holders and wider community as a whole?
Jack Kettley (TokenRepublic): our platform is for any start up or business wanting to fund their project using blockchain technologies, we want to create an accessible platform for both investors and start-ups without much crypto knowledge and in the future we want to bring in marketing solutions to help start ups with the tokenomics of their project, whitepaper, landing page design, marketing and more. We are also working on bring the ERC-721 standard to the platform, so artists and such can tokenize their work. We are trying to build a comprehensive ecosystem of accessible decentralized finance technologies.
TRG may be integrated into our platform in the future, right now our focus is creating value and liquidity around the token, we have launched on Goblin swap a decentralized exchange platform, which includes AMM (Automated Market Maker). We are working closely alongside the Nerve Network team who are currently exploring liquidity pools on their NerveDEX exchange, we also hope to list on other exchanges and build our liquidity as the project matures.
@João: @jackkettley @patrick_trg @ash_rathore I think there are no more questions. We want to thank you for making your time available for this AMA. It was very enlightening!
Thank you guys!
Jack Kettley (TokenRepublic): thank you, we will be online and active just in case we get some further questions throughout the day. Thanks for your questions and everyone else too that has engaged in this AMA.
END OF AMA!
About Token Republic:
- Website: https://tokenrepublic.io/
- Dashboard: https://dashboard.tokenrepublic.io/
- POCM: https://pocm.nuls.io/pocm/Projects/ProjectsInfo?releaseId=56
- White paper: https://tokenrepublic.io/wp-content/uploads/2020/12/Token-Republic-Whitepaper-5.1-5.pdf
- Telegram: https://t.me/Token_Republic
- Medium: https://medium.com/token-republic
- Twitter: https://twitter.com/token_republic
The best way to get involved with NULS is to join in!
For more information about NULS, visit nuls.io and join the conversation on Telegram or Reddit. Make sure to follow NULS on Twitter for the latest news and updates. You can also follow us on other socials such as Facebook, Steemit and GitHub.
NULS — Nothing Makes Blockchain Easier
