Trinity Protocol, a developer of off-chain scaling solutions for the NEO and Ethereum blockchains, has published a look back at 2018 with a forward-looking AMA and an exchange announcement. The TNC token was listed for trading on MXC Exchange on January 28th, accompanied by an airdrop and trading competition with awards totalling 2,500,000 TNC tokens.
Trinity’s wrap-up contains content from founder David Li’s open letter to the Trinity community from October 2018, which was covered by NEO News Today at the time. Li’s January 24th, 2019 AMA with users in the Trinity Network Telegram group is forward-looking.
Telegram AMA with David Li
One of the main points of community interest at the beginning of the AMA was the KuCoin centralized exchange, which has added the TNC token to its “Special Treatment” category for potential delisting. Li stated that KuCoin told him that the placement was “due to trading volume.” He did not duck the line of questioning, stating, “Back to Kucoin…it’s hard. I receive mixed opinions about what to do with it. And we cannot satisfy their demand by faking up trading [volume], that’s illegal almost anywhere.” He elaborated, “The only thing we can do, and we have done, is to tightly control TNC supply. No ESOP unlocking this year, maybe 0 next year, maybe I will just burn it all,” referring to the team’s allocation of TNC tokens that has remained locked.
Although he will not be attending February’s NEO DevCon, Li stated that a “big announcement” is coming at the event. According to Li, the announcement “sets the direction we’re going this year” and marks a technical milestone for the project.
Trinity Protocol will also be upgrading its ERC-20 token contract. Users holding TNC on the Allcoin and BCEX centralized exchanges will be swapped automatically, while users who keep custody of their own Ethereum assets will recieve the new tokens in an airdrop to their wallets.
Although TNC is a multi-chain product, Li stated that the development focus in 2019 will be for the NEO blockchain, and “getting it ready to use for ordinary users including new dApp teams on NEO.” Li views the upcoming DevCon milestone and NEO’s v3.0 MainNet upgrades as being instrumental for widespread use of TNC’s state channels.
This year’s plan is designed to hasten adoption of the technology, which Li states will “make the onboarding process far easier” and through it “every NEO user becomes a Trinity user.” Other members of the founding team are said to be leading outside teams that are focused on trading, non-fungible tokens, and gaming.
MXC Exchange Listing
Trinity also announced a new listing on the centralised MXC Exchange for the ERC-20 (Ethereum) variant of its TNC token. Users holding TNC on the Gate.io or KuCoin exchanges should convert their NEP-5 tokens before depositing on MXC. Trinity has designated 2,500,000 TNC as promotional awards for an airdrop and a trading competition.
The airdrop is designated for users who make net deposits on the MXC exchange of at least 1,000 TNC between January 28th, 2019 and January 31th, 2019 (UTC+8). Rewards scale with deposit size, and the top 100 ranked depositors will receive TNC prizes.
The trading competition will reward the top 100 traders between January 28th, 2019 and February 4th, 2019 (UTC+8). The traders with the top 100 TNC buying volume will recieve rewards. According to MXC Exchange, “All rewards will be distributed in 7 working days after the competition.”
Trinity’s 2018 recap and AMA summary can be viewed at the following link:
About The Author: Colin Closser
Colin Closser, M.D., was a speaker at the first NEO DevCon in San Francisco. A devoted contrarian, he has managed the improbable: a peaceful and healthy life, despite holding a medical degree. He aspires towards the wisdom of Michael Lewis and Nassim Nicholas Taleb.
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