Recently I visited a pub with a friend from Scotland. We had a great night, and once we decided to leave, I recognized that I forgot my wallet (the real leather one). He paid the bill, but as Scottish, as he is, he noted that I should pay my part of the bill soon. I just took my smartphone, opened the PayPal app, put in his email address and paid my dues. Imagine this project in crypto. “Please spell your wallet ID again. 0x-what? Hold on, what was it again, 0xc2f86e13b486cf7b78238485b778f8fd8e58ed4d4?” You see the problem – sending small payments from person to person or tipping someone is currently a mess if you want to do it the crypto way. But then, we found an ICO, which neatly solves that problem and could become an important cornerstone on the way to mass adoption. Let’s dive into TTT – The Tip Token.
The Tip Token ICO Facts Sheet
Social Media: Facebook | Telegram | Twitter | Reddit | LinkedIn | Medium | ANN Thread
KYC: Yes and No. Yes for the recent private sale, No for the upcoming Pre-Ico and ICO
Referrals: Yes, available – 100 tokens for every invested ETH + 20 tokens for the referred person.
Excluded Countries: USA, China & Singapore, except if they are accredited investors
Whitelist Process: YES, already started
Private Sale: Running until 05/13/18 (minimum contribution 10 ETH)
Pre-Sale: 5/16/18 – 6/3/18 (Whitelist here) (15 ETH max per person)
Crowd Sale: 6/13/18 – 7/1/18 (15 ETH max per person)
Pre Sale Bonus Structure: 15%
ICO Plattform: Ethereum ERC20 Token
Soft Cap: —
Hard Cap: $15.75m / 24,230 ETH
Maximum Supply: 600 000 000 tokens
Raised Funds Allocation: 40% Product Development and Incubation for future ideas / 25% Partnerships and interoperability with other platforms / 25% Market and customer expansion focus / 10% exchanges listings and advertising purposes
Token: 1 TTT token = $0.045
Solved Problem: The Tip Token makes everyday payments in cryptocurrencies easy and is meant to transfer small amounts from person to person in the easiest way. Instead of using long public keys, your wallet will get a so-called SAN, a short address name you can register within their app. This will make blockchain payments fast and easy. With this solution tips, rewards and payments for small jobs are quickly done. Furthermore TTT will issue airdrops, lotteries laddered rewards for top-tip’ers and even browser games where you can earn these tokens by playing riddle/enigma games.
Fast and Easy Everyday Payments in Crypto
The concept of The Tip Token is at easy as it gets: Get a username (SAN) with their app and use it to receive cryptos fast, without the need of typing or transmitting your public keys. But is not just an easy payment solution like PayPal for Crypto, but much more as the concept is made for tipping from the ground. Many tipping features like for content published online or services you receive in your everyday life will be integrated. The platform shall increase the and encourage the daily tipping culture by offering discounts, services offering, and various other advantages. According to the ICO there are already local brick & mortar stores like a Barbershop that agreed to accept TTT for tips.
Furthermore, TTT will make use a Proof of Action algorithm, which rewards users that make constant use of the tool. This protocol will airdrop TTT to the top users according to the number of transactions they have conducted per month. To the top 20, measured in the highest amount of transactions, the POA mechanism will reward in tokens each month. The monthly mined blocks by Ethereum ( 178650 blocks currently) serve as a countdown each month, adjusted monthly based on the Ethereum hashrate.
To us, the SAN (Short Address Name) feature is the most groundbreaking with this ICO: It enables you to associate your ETH address with the name of your choice. If you participate in this ICO or not – you should keep an eye open for TTT releasing this feature and then register what your fantasy and typing speed allows. If this project takes off and SANs become mainstream in crypto, as they simply make sense and are needed, it could be a vital business model to have several premium handles in your shop – but that’s just a sidenote for the money makers out there. You can learn more about this awesome concept in this article on their medium.
Another pillar of TTT will be cryptocurrency based browser games, where you can earn tokens by playing them. In this article on medium , you can find out more about the first game Crypto Riddle. A nice idea, that might go viral if it is done well.
The Features of The Tip Token
The project is nicely laid out and very easy to get.
- Create SANs (Short Address Names) to send and receive cryptos fast
- Mobile Application Platform to send and earn cryptos everywhere, very fast
- Social Media Bots/Bridges to tip people on Telegram, Reddit, and other social media channels
- A rewarding system within the app. Regular tippers will get airdrops of TTT tokens, based on a Proof of Action protocol
- A centralized place for decentralized actions – the app will give you an overview of your transactions, the received discounts and much more, helping you to keep the overview.
- Browser games where you can earn tokens for solving riddles and enigmas.
ICO Check – Is The Tip Token worth an investment?
How is the whitepaper/website?
The Tip Token uses a simple approach at their website: presenting the needed information in an easy way to get what the project is about. The structure of the site is pretty basic, though one has to consider they are starting as a bootstrap startup, so all available money flows into the project and not in fancy designs.
The whitepaper is again nothing funky and comes with a low-level design. This is not an eye-candy ICO, but one with substance. The idea is pretty well outlined and you can get a feeling where the travel goes. The critical points are well covered, but some parts could be more detailed, like for example how the raised funds will be attributed on a percentage level (we researched it and the information is available above in the facts section). Interesting: This ICO comes without any soft cap, as the project will be launched in any way, TTT stated to SmartOptions. They believe in their vision, and they will bring it to the table, with or without the support of the community. The thing about the whitepaper is that you get the idea. It is simple and makes sense; this might be the reason why not much fluffed up words are needed on the website. The idea to create a platform that enables to tip easily just with unique handles is excellent and along with a cryptocurrency just as made for the share economy. The whitepaper addresses that the platform divides between a “TIPR” (the one that tips) and the “TIPD” (the recipient of the tip). Here is an array of examples how TTT imagines that their platform could hook into several services so that you can get the idea more easily:
● Uber : Every 4 TTT* sent to a driver, the TIPR would get a 2%* discount on his next
● Airbnb : 5 TTT* sent to a host would give the TIPR a 5%* discount on his next housing
● CoinMarketCal : For every 3 TTT* sent to an event poster on a week base, the TIPR
would receive next week’s events 15 minutes before non TIPR users
● TripAdvisor : For every 10 TTTP* sent to the website, the TIPR would get a 3%*
discount on his next booking
● ICOBench : Every 6 TTT* sent to the website would let the TIPR receive ITO reviews a
day before non TIPR users.
(Source: TTT Whitepaper, Page 9)
Furthermore, the whitepaper shows that it has a bright idea of the features the platform will offer and how the usage of the token will look like. You can read it in 15-20 minutes, and you should do so to catch some fire for their idea. Integrations into significant services along with features that might be used on a higher level (like website widgets to tip authors) are planned.
About the TTT tokens
The Tip Token is the currency of the TTT platform and a community token by its nature. Challenges, games, and airdrops are planned on a monthly base to engage and encourage the community. The total supply of 600M token is reasonable, and we have a feeling that there will be much less in circulation for the first time. Based on the numbers provided, they have the potential to rise nicely in value. The allocation of the available tokens looks like this:
- 15% of the tokens will be distributed to private investors funding the project in its early stages.
- 20% of the tokens will be distributed in the pre-sale to early whitelisted contributors.
- 30% of the tokens will be distributed in the crowdsale.
- 15% of the tokens will be reserved for the ecosystem & airdrops.
- 20% of the tokens will be blocked for the team.
Half of the tokens allocated to the team will be blocked until December 2018 and the other half will be unlocked in June 2019. This is a nice feature which adds up a layer of security for the investors. The lockup of the tokens can be verified in the smart contract. It makes sure that there will be no big selloff from the team once the token hits the exchanges. The team tokens will be used as their compensation and serve as funds for developments in the future.
While the ICO participants can buy 390 million TTT tokens. The rest of the tokens are used like this:
- 10% will be airdropped to the Initial Token Offering participants.
- 20% will be added to the tokens allocated to the ecosystem & airdrops.
- 70% will be burnt.
If the ICO does not sell all allocated tokens, the rest of them will be airdropped to the community.
Interesting: The ICO already secured three exchanges for a listing of their token (2 more are currently in negotiation with them). This is pretty unusual and shows that they are working straightforward on this project.
Why do we think the price of TTT tokens will rise?
We think the TTT ICO is a long play. The price for the token in the ICO is low. Being a bootstrapped startup there might not be many funds right to communicate the idea to the broad masses, while the idea is clever and easy to understand. We think that the circulating supply will be limited until TTT takes off, This can be a pretty good chance for investors as this ICO might end as an undervalued project, and the issuers will bring it to the market anyways. Once the generated funds will be used for marketing purposes and a fresh website, and once the word spreads just by seeing the features in a practical everyday use, we anticipate a rising price.
Does the team have the needed experience?
First of all, we like the very transparent approach of the TTT – Team, like providing a tiled image like this, which proves, the members of the French-based team are real:
The diverse team has lots to offer. While you won’t find any big names, you will find much of experience in the linked in profiles. Again, this is bootstrap; there are no million dollars investors in the back to allow buying the big industry names. We found interesting that one can find, between the usual set of coders, marketers, blockchain experts and other common branches, there are also people that must know a thing or two about tipping: like a restaurant leader for example. There are two members of the list, that might appear intransparent: John Tillerson (Smart Contract and ICO advisor) and a guy shown as V. N. (corporate law and legal advisor). Tillerson comes without Photo and V N without clear name and photo. This might raise red flags to some, but let’s not forget that it remains the right of each individual which data one wants to share on the internet. Mainly as a lawyer, it can be critical not to be on board somewhere. Personally, we don’t overvalue that point in this case. These guys might rock something, once they have the needed funds together.
Is there a clear roadmap and are the goals achievable?
The roadmap is clear – we can see where this leads to. Albeit it is also very full, it appears still doable for a team size like this – the guys will be busy this year for sure, but the goals are achievable with the right motivation (which we can sense at the TTT team). If they follow this plan, it could skyrocket. Design, marketing & communication of the product – these are the main factors we want to see improved. But these three are a matter of money, which they try to gather with this ICO. A Telegram and a Reddit bot to tip people would be an entirely nice-to-have as soon as possible (unfortunately scheduled for Q3/18 – so long to wait…). The vision is clear, the roadmap shows the way, and we believe they will be able to keep up with this pace.
How is their social following? Hype?
The hype factor is yet low – however, we are still in private sale. But, as you know, ICOs are very much about marketing. Having ads everywhere (even if some crowded spots like Facebook are not available anymore) and being the talk of the town is substantial. But this is hard to achieve as a bootstrapped company. The Tip Token offers some bounty campaigns that might kick in soon, though. This project is a diamond in the rough and the idea is straightforward to understand. We can see that buyers might jump in, in the upcoming weeks.
The Tip Token follows a great idea. Their idea of offering SANs for easy sending and receiving a financial appreciation of what someone provides online is a needed idea and might work out well. It even has the potential to become a fundamental part of our everyday crypto life. Starting the grassroots way is hard in the world of ICOs, though the team is firmly motivated and we are sure they will launch this baby no matter what. A tipping service to be integrated into several websites/services is a fantastic idea, also to be able to send someone funds with a unique handle is excellent. We like the idea and are bullish on the use case of this token. As the hype is incoming pretty slowly, we estimate this will be a more extended hold, but a rewarding one. This is not a short shot of participating in the ICO and selling off once it hits the first exchange. This case is more buying now cheap, forget the tokens for some time and sell them once the people use the widget, the frenzy about the SANs get started, the game becomes viral or once it is integrated into a more prominent website. We’ve seen Crypto and Telegram go so well together, a tipping service on this platform per bot would have countless possibilities, and that is just one case. To us, this is an underdog ICO that might probably explode later.