Hey guys, very excited to make an appearance in such an enthusiastic group! My name is Hong Nguyen, and I am TomoChain’s Marketing Manager.
A little bit about myself. I got into crypto 3 years ago, and have fallen in love with it ever since. I was first amazed at how much digital freedom blockchain can offer, along with its transparency in a world called decentralized. The concept of blockchain technology is set to revolutionize not just the finance or healthcare industry but many aspects of business, government and even our personal lives. There is so much hype and also misunderstanding out there about this new technology, that I want to stick with it and explain to especially mainstream users of how useful this new technology could become in our everyday life.
Q1. Can you briefly describe what is TOMO Chain? We would like to know more about it and how it works.
Sure thing! Happy to explain a little bit about what our conversation will be about today.
The TomoChain Public Blockchain launched into mainnet in December 2018. TomoChain is an EVM compatible blockchain, secured by a POSV consensus with 150 Masternodes that operates at 2000 tps, 2 second blocktime and near $0 gas fees.
Beyond that, we have developed Layer 1 protocol solutions to support Open Finance/DeFi including:
TomoZ: issuing Tokens where the gas fee is paid by the token itself
TomoX: Launch a permissionless DEX in minutes (gasless & on-chain)
TomoP: Privacy Suite (under launching plan)
We’ve also launched an AMM-swap called LuaSwap similar to SushiSwap and Uniswap. The focus of LuaSwap is to be a Multi Chain so it could exist across multiple blockchains. We have launched both LuaSwap on Ethereum and on the TomoChain network.
Q2. What are your main features that distinguish you from other projects and what competitive advantages do you have?
With Ethereum’s gas fees rising above to top nowadays, TomoChain came to solve this issue. Powered by the POSV consensus, TomoChain is a highly scalable network with blazing fast speeds and neglectable gas fees. With 2000 TPS, 2-second block time, users really don’t have to worry about the traffic congestion like on Ethereum. The fees are almost neglectable too as 1 TOMO can be used for around 200,000 transactions. It’s also super safe as it’s secured by 150 masternodes located in different places across the world.
Another distinguished highlight that people remember about TomoChain is our set of products and protocols.
The trifecta of TomoZ, TomoX and TomoP I mentioned above serves both open Finance and Decentralized Finance. Furthermore, as DeFi has emerged to be one of the hottest trends in the past year, LuaSwap’s launch was a way for us to catch up with the innovations in the crypto world.
Apart from that, our different protocols like TomoBridge (the door to convert between ERC20 & TRC21 tokens on TomoChain), TomoDEX (TomoChain’s DEX offering spot trading and lending), or TomoIssuer (the tool for you to create any TRC20 or TRC21 token) also help users connect to other multi-chain blockchains out there.
Q3. How has the experience and background of your team been effective in the success of your project so far?
I am especially very proud to be working alongside such a passionate and hard-working team here at TomoChain.
You guys might be familiar with Long Vuong, TomoChain’s Founder and CEO. Having obtained both his business and experience after years of studying in the U.S., Long was one of the first founders of NEM project. Afterwards, Long came back to Vietnam to turn his crypto vision into reality.
Mrs.Le Ho, TomoChain’s CFO is also proof that women can do well both at home and at work. Le is one of the key finance people in the investing field in Vietnam. There’s softness in being consistent, and Le has sure used this method to guide our team in the right direction.
But kudos should be given to our talented technical and marketing team. They have a passion for blockchain development. While this passion drives developers to exploit and build the best products, while it also drives the marketing team to spread their blockchain knowledge and its usefulness to the mainstream users out there.
Overall, if I have 3 words to describe the entire TomoChain team, I’d use: Skillful, Passionate and Dedicated.
Q4. What are you looking most forward to doing in TOMO Chain?
TomoChain has opened up another door for me to learn about such a new technology, and I want to share what I’ve learned with the world.
Like what I’ve said in the introduction, I want to explain to especially mainstream users the advantages that blockchain technology can bring to our everyday life usage. In other words, we’re heading towards mass adoption!
At the moment, Enterprises, businesses and governments are using TomoChain without any friction. So our biggest achievement several months ago is we have signed an official agreement with the Ministry of education and training of Vietnam. And what we’re gonna do is we’ll secure every single diploma issued in Vietnam from high school and above on the TomoChain blockchain.
We’ve also signed a partnership with UrBox, entering the consumer market alongside UrBox through the launch of its new digital rewards and loyalty platform, TomoBox. TomoBox allows $TOMO users to redeem digital gift cards from hundreds of different merchants in Vietnam.
Thus, with a wholesome set of products, mass adoption is what I am heading towards. Blockchain is certainly exciting and has the potential to transform how many businesses operate.
Q5. LuaSwap Development
Our LuaSwap - the multichain AMM has achieved some milestones recently that I’m very proud to share with you.
First, LuaSwap is now fully operated (swapping, staking, running ) on both the TomoChain and Ethereum networks. On TomoChain specifically, users can trade with supper lower fees vs 1-200$ on Ethereum at lightning speed, just 2s confirmation time.
We’ve also just released the farming incentives on TomoChain on 20/4, with 1,000,000 LUA reward for the first 8 pools. It costs only 0.1 TOMO (0.2$) for all steps from adding liquidity, staking LP tokens to harvest LUA reward on TomoChain. We also organized a trading comp for LuaSwap that attracted over 1200 traders and have some new listings like FTT, SRM.
Now we are focusing on building a new version of TomoBridge that supports transition across many platforms cuz in the long term, we have a plan that LuaSwap will be integrated into new platforms with the same structure of fee such as BSC, Solana to facilitate demand for DeFi participation.
Wow! That was long! Please allow me to show off them numbers as our team has been working really intensely towards LuaSwap’s development.
Thanks guys for having us today! Really happy to be sharing about TomoChain and our vision today! Look forward for many more collaboration events in the future
Feel free to follow us on our social channels for the latest updates:
Telegram’s Global community: Telegram: Contact @tomochain
Facebook’s Global community: TomoChain - Home | Facebook
From your website , we can submit problem, suggestion, idea or bug report and get reward, where we can submit that?
Regarding any problems on bug report, or any suggestions regarding the development of TomoChain, you can always join our Telegram channel or reach out directly to all the admins, DM us on Twitter, or post questions in our Forum.
Regarding Bug Bounty programs, we will be hosting those accordingly to any launches of any new projects. So make sure to follow our channels for more information.
It is possible that I will join your project, but is it necessary to have prior knowledge of “cryptocurrencies” to invest in your project, is this also friendly for those of us who are just starting out?
Regarding general crypto knowledge, I think you should arm yourself with the basics before getting into the field. It’s a new field and with a lot of factors to dig into.
When you want to invest in something, it’s best to research about the project before you take any actions.
But here at TomoChain, to help you ease yourself into using our services, we do have a series called TomoChain CheatSheet Series, with introduction on staking, masternodes, TomoChain’s use cases and many more. This series is design especially for newbies.
You can check one of the episodes here and work your way through the entire series: TOMO Cheat Sheet #1 — Staking with TOMO | by TomoChain Publisher | TomoChain | Medium
I understand that this ecosystem has the TomoP Protocol to provide privacy, but is this “privacy” really optional for each user as in other chains? Or really all transaction carried out in this chain is completely private?
It’s surely optional for users In our testnet version, we have a switch button that will take you to the Private Mode. You have the option to make transactions normally, or anonymously.
TomoBridge is a tool for exchanging tokens between different chains, how does this cross-chain bridge work to transfer assets from TomoChain to other blockchains? What would be the other blockchain chains that this tool can interact with?
Yes we have a bridge that connects to multi-chain blockchains. TomoBridge allows for erc20 token to be able to wrap their token without permission onto the TomoChain network.
Interoperability between different blockchains has been one of the most important concerns in the cryptocurrency industry. It brings out the ability to move crypto assets back-and-forth between different public blockchains. TomoBridge plays an important role in the TomoChain ecosystem where DeFi applications have been the top focus.
Few users make use of DeFi. How will TomoChain get many more people interested and motivated to use it?
Our move towards DeFi is Our LuaSwap - the multichain AMM has achieved some milestones recently that I’m very proud to share with you.
We’ve worked towards its version on both the Ethereum and TomoChain network, like I mentioned above, to catch up with the newest trends in the market and create something new for users.