AMA – 「Dec -14 -2023 12:00 UTC」w/ AlphaTON - English

Host: AlphaTON Co-Founder - Yang
Guest: TonUP BD - Sing
Date: December 14, 2023, 12:00 UTC
Location: Telegram: Contact @alphaton

In this AMA event, we delve into the upcoming Initial DEX Offering (IDO) details of TonUP, discuss the characteristics and functions of its platform token, and analyze TonUP team’s views on the current blockchain ecosystem and their future strategies.

About AlphaTON
AlphaTON is a Telegram channel focused on the TON blockchain, with a core feature being in-depth discussions on TON blockchain-related news, covering ecosystem development, NFT research, and even the latest market rumors and mysteries. We not only provide cutting-edge information but also strive to present unique viewpoints and analyses, hoping readers gain insights and actively participate in discussions about the TON blockchain. At AlphaTON, we adhere to the principle of “Don’t Trust, Just Verify,” encouraging readers to critically assess and understand the true aspects of blockchain technology and market dynamics. Additionally, AlphaTON’s group is a hub for like-minded individuals to discuss, share opinions, and grow together in the blockchain space.

AMA Recap:
Yang (AlphaTON Co-Founder): According to the announcement by TonUP on December 13, TonUP is about to begin its Initial DEX Offering (IDO) for its platform token. Can you share the features or functions of your platform token?

Sing (TonUP BD):

Our token IDO plan will start on Wednesday, December 20, via our official website. Our platform token $UP will primarily be used in two dimensions:

TonUP DAO Governance Token
Our token $UP is a utility token that will become the governance token for the TonUP DAO. According to our roadmap, we aim to transform the project into a permissionless launchpad, assisting startups in conducting IDOs. $UP holders will have voting rights, allowing them to make decisions and manage projects on the launchpad. Additionally, profits from the launchpad will go to the TonUP DAO and be distributed by DAO governance participants.

UP Token Staking Mining
As per our roadmap, a major milestone will be the introduction of TonUP Earning, involving UP token staking mining. This feature will provide $UP holders with token storage and interest-earning services, ensuring the value and stability of the $UP token.
Overall, the significance of the $UP token to the entire TonUP ecosystem is evident, playing a key role in various aspects.

Yang (AlphaTON Co-Founder): I noticed that in your tokenomics, only 1% is allocated for the IDO. What’s the reason for this setup? Could you explain in detail?

Sing (TonUP BD):

In fact, in addition to the upcoming 1% IDO, we also plan to conduct an IEO, which will account for another 1.5%. While these percentages seem small, there’s a reason for that. We’ve recently completed our seed round financing, and the team has sufficient funds. Therefore, we don’t plan to raise funds from the public or individual investors for operational purposes.

The main purpose of conducting the IDO is to give more community members the opportunity to hold our UP token, facilitating their active participation in the TonUP DAO governance process in 2024. Overall, our goal is to expand community participation, not just to raise operational funds.

Yang (AlphaTON Co-Founder): I notice that your whitelist only has 150 slots, and the total amount of UP tokens allocated for the whitelist round is only 200,000. Based on this quantity, there seems to be a mismatch in the amount. Why is that? Does being on the whitelist still mean competing for all tokens?

Sing (TonUP BD):

If calculated based on the token’s price, the whitelist round indeed can only accommodate 100 addresses if fully subscribed. However, since our whitelist is allocated through a lottery system, and considering that some may miss the one-hour whitelist time, we intentionally oversubscribed the whitelist slots. This is to avoid waste of whitelist slots. Therefore, we intentionally reserved an additional 50 slots. If the UP tokens are highly sought after during the IDO whitelist round and fully subscribed, it indeed might be a first-come, first-served scenario.

Thus, we highly recommend that community members who get on the whitelist join us in the TonUP community for the countdown!

Yang (AlphaTON Co-Founder): Why choose this time for the IDO? Recently, the TON blockchain network has experienced challenges like system crashes and restarts, and the end of Raffle’s Fairlaunch, while other chain projects also attracted a lot of attention. Why conduct the IDO now?

Sing (TonUP BD):

We believe it’s a good time. Although the ecosystem faced some challenges, it’s now healthier and more mature. We’re not competing with projects like Tonano, but rather, we’re building a complete ecosystem together. The emergence of Tonano indeed attracted a lot of traffic, which is an opportunity for the native TON ecosystem. Many new users are interested in TON but unsure what to do next. We need a native, quality asset to guide these users and demonstrate the true value of TON.

For example, TonUP’s TONversation column and essay contests launched in October have helped retain users and promote customer development. Therefore, conducting TonUP’s IDO at this time is a great opportunity to continue the prosperity of the TON ecosystem. It’s a wise and correct decision.

Yang (AlphaTON Co-Founder): The recent Ton Raffle FairLaunch was very successful, raising 200,000 TON. As a similar product to TonUP, what’s your view on this?

Sing (TonUP BD):

We’re happy about Ton Raffle’s success, which not only indicates a more prosperous ecosystem but also provides positive insights for our continued progress. We’re confident in becoming a leading launchpad in the TON ecosystem. Ton Raffle’s ability to attract a large number of individual investors shows increased attention to the ecosystem.

This boosts our confidence and motivation for our upcoming IDO and IEO next week. Moreover, we have several advantages over Ton Raffle. First, our community is very active, with over 40,000 subscribers in our Telegram community and over 30,000 in the chat channel. Second, we have official support from the foundation and maintain close partnerships with many institutions. In terms of marketing and publicity, our strategies and channels are superior. Although Ton Raffle is our competitor, our IDO approach is different from their Fair Launch, with a first-come, first-served strategy.

Yang (AlphaTON Co-Founder): You also mentioned institutions earlier. We know Foresight has been active in investments recently. Can you talk about your close relationship with them and their view on the TON blockchain?

Sing (TonUP BD):

Foresight has been very supportive of us. As early as August, when TonUP’s product was just a concept, Foresight participated in our seed round financing and started giving us strong support. Among investment institutions, apart from the TON Foundation itself as a native fund for the TON ecosystem, Foresight is one of the earliest institutions strongly supporting TON’s development. They are very optimistic about the overall narrative and future potential of the TON ecosystem.

Choosing to support TonUP mainly because our team has the capability to address the needs and challenges of the TON blockchain in its early development stage and has the potential to be a forerunner in the ecosystem. Our team launched products and began operations shortly after forming, with tight project development in the past four months. Even in a bear market, we’ve maintained a fast and tight development pace.

The TON ecosystem is relatively in its early stages, needing a large number of quality assets, where the launchpad plays a crucial role. We need to act as gatekeepers for quality assets and maintain close cooperation with many projects in the TON ecosystem, including official ones, to complete the ecosystem’s framework.

From these perspectives, TonUP’s potential is almost dependent on the development of the TON ecosystem. We’re closely connected with the current state and many upcoming quality projects of TON, whose development potential is limitless. Therefore, Foresight is very focused and optimistic about both us and TON.

Stay tuned for more information about TonUP’s IDO event on December 20, 2023.

For more detailed info about TonUP IDO Campaign on Dec - 20 - 2023, Please Check "Everything you need to know about TonUP IDO.

Annoucement: @TonUP_io

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