TomoChain AMA Summary — June 2019

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TomoChain

6 min readJun 26, 2019

Hello TomoChain fam!

Thank you for your participation in our 1st session in the TomoChain AMA series.

The topic was open to address various concerns from the TomoChain community. In this summary, we bring you top 5 voted questions and answers related to community management and business development.

Read the full AMA HERE.

Question 1

(Thank you for all your concern about TomoChain community. Any feedback matters to our improvement. Read full question HERE)

As observation, a member raised a concern about the current environment of TomoChain group chat that it is not positive and conducive as it used to be. What are TomoChain solutions to address this problem?

Jake: Thank you for asking the hard questions about the community. I am a community builder at heart (Co-founder of Crypto Community Vietnam on Facebook, welcome to join) so fortunately, have some experience in this area.

Heated and passionate debates, disagreements are all fine. But the moment there is name calling, and insults etc (malicious personal attacks, essentially) — then it should be quickly shut down (mute, or ban if serious offence). We will quickly develop better and more specific guidelines around this, and perhaps even use a bot to handle misbehaviour — it actually is really draining on our team and volunteer and mods to have to deal with this kind of misbehaviour.

There are official chat run and managed by TomoChain team: Signal Channel | Global chat | Tomo Vietnam | Tomo Japan | Tomo Korea

We are lucky to have many active supporters stepping up and managing the community chats including Tomo Masternode owners + voters chat | Tomo Price Talk | Tomo French | Tomo Dutch | Tomo Spanish | Tomo Turkey | Tomo Brazil-Portugal | Tomo German. We admins frequently catch up with each other and address the problem. We will work closer together to bring the more positive vibes to all chats and create more room for constructive and intellectual conversation.

We are in the process of rolling out a complaints and feedback channel to better receive and document complaints and feedback from the community — this way, we are using a good process to address some common feedback and complaints, which will definitely smooth things over and leave more room and space for meaningful discussion.

Lastly, we have been thinking about bringing on a few more people from the community as mods and admins — this is being discussed internally right now.

Question 2

Is the team open to creating an ambassador program to help rally the community? Myself and a few other long term supporters would like to help with partnerships and doing our best to bring in more exposure to Tomo from various other networks / projects / groups in which we belong. Would you consider creating resources for this endeavor (updating pitch deck, perhaps some catchy promo vids, updated marketing materials, etc)? I know that there is quite a bit already, but some may be outdated/etc and it would be good if it was all located in a folder that community could access to include in various posts/emails/correspondence. Just a thought! I’d be happy to give more suggestions outside the AMA. Keep up the hard work guys.

Jake: Ambassador program: we are planning something to incentivise global Tomo supporters. We will absolutely create resources (updated media kits, resources, and much more) to empower and support not just Tomo supporters, but also Masternode holders. We will make sure this is all accessible. Overall we will be working quickly to develop the right resources and processes to empower Tomo supporters — you will see an update in this space soon!

Question 3

I had a look on your website but I cannot find a glossary or overview page to describe all of the new upcoming products and their terminologies, such as TomoX, TomoZ, T-Black, TRC-21. Could you give a quick overview of each for clarification? Is there an approximate timescale for each?

Long: TomoX’s technical paper is on our website with the short link here https://bit.ly/2PCYZjp

TomoZ and TRC-21 papers will be published very soon (in 2–3 weeks). T-Black is new and in the research phase, and we will update you subsequently.

Question 4

(One of the most questions we have been receiving. Thanks Bigtop for bringing it up and voicing for the majority of the community. It is a fair question and we hope Long’s answer will explain well our stance on this as well as satisfy you. Read full question HERE)

Why TOMO is not listed on the major exchanges ? any reason ? Help us to understand to keep the faith in our investment.

Long: I will answer the questions in several fronts :

TomoChain core team has a lot of work to do, and exchange relation is one part of Business Development we are doing. We will announce to the community in all of our channels as soon as a BD deal or partnership is finalized. We could not give any promises, estimates or details of any particular deal that are in process other than a general direction we want to go via AMA or a community update.
The said policies are based on the TOMO token sale contract, and the legal opinions on TOMO from Singaporean, Maltese and U.S lawyers which stipulate that TOMO are utility tokens which can be used in a manner described in the Technical and Economics papers. TomoChain core team are under no contractual obligations other than what are giving TOMO utilities as described in our papers.
Why is it important? TomoChain team (as in the Singaporean company TomoChain Pte. Ltd.) could be sued for issuing illegal securities if we promised to do things unrelated to TOMO’s utilities that give rise to a profit expectation from token holders. It is a standard practice advised by legal professionals, and is a real issue as companies have been sued by SEC recently https://techcrunch.com/2019/06/04/sec-expands-its-war-on-cryptocurrency-companies-with-a-lawsuit-against-kik/ Risking legal complication means TOMO and TomoChain public chain would have smaller chance to go far in term of adoption as well as partnerships.
To understand long-term prospect of TomoChain, and make an informed decision, token holders should read our technical papers, economics papers, other papers like TomoX, sharding, TomoZ, TRC-21 and our monthly product road-map https://tomochain.com/tomochain-roadmap/. Investors in TOMO should form his/her own investment theses, and act subsequently given all the information provided. The valuable investors are the ones who can use TOMO and leverage TomoChain to build their own products, or the investors who support our shared vision of building TomoChain’s ecosystem.
In terms of Business Development, it is in our interest to build a TOMO’s network. We are long-term holders, our tokens are vested for years, and we plan to build multiple businesses around TomoChain. We will have communication policies that update our progress at a regular interval. Regarding exchange’s listing, it will be announced immediately if an agreement was reached, but there won’t be any official communication other than that.

Question 5

Has TomoChain considered Coinbase’s staking custody for their clients? How much funds does TomoChain have — are you well funded for 5 years? Can we expect any exchanges with real volume / not just wash trading ones?

Long: TomoChain Pte. Ltd. is a private company and we have other revenue streams that are not publicly disclosed for tax and regulatory reasons. It goes with the previous answer that Token holders have the rights regarding TOMO Token utilities, but not to TomoChain Pte. Ltd. company. We can disclose that TomoChain Pte. Ltd. plans to be cash flow positive next year from revenues in integration, consulting and development works in Japan, South East Asia and other regions. We also plan to monetize other financial products like wallet, relayer integration, financial services etc. in 1–2 year time frame. Furthermore, we still have a few years of runaway left from the 2018 token sale. TomoChain’s team is well run, talented, and we have no problem of continuing working for years to support TOMO’s decentralized network.

TomoChain contact

For General support: TomoChain Chat

For Technical support: Gitter