Triip Token Talk Ep.1

Published in

Triip

3 min readJan 14, 2020

Welcome all to the first episode ever of the Triip Token Talk. Let’s dive right into it.

Let’s start with a question we get often. Like, everyday. Even multiple times a day. We probably got it on Telegram a couple of times in the past hour.

“When exchange, sir?”

I swear yall be like this!! LOL

Here’s your answer: we’re targeting listing in Q3 of this year.

Where? At the top of our list is Tomo DEX and two other options that we don’t want to jinx yet, so that’s all we’ll say for that.

Here is the second most popular question, right behind the first.

“When withdrawal TIIM, sir?”

Let’s explain this with slightly better grammar than what our users would offer: this question is asking when TIIM holders will be able to cash out their token and exit the TIIM system with their sacks of cash.

In addition to getting listed on an exchange, Triip’s TomoChain-powered token will need to become TRC-21 compliant, first. It’s the new token standard allowing for higher volume transactions that are less resource-intensive.

Okay, let’s rephrase that in human language: the master plan is TRC-21-> Withdrawal -> Exchange listing

That will happen between Q2 and Q3 2020.

Sir, I understand TIIM is a TRC-20 token. What is the difference between TRC-20 and TRC-21 token?

I’m glad you asked.

Blockchain is not free. It actually costs money for each of the transactions our users make with TIIM. This is what’s known as a “gas fee. We have to pay a small gas fee for every single TIIM transaction on the blockchain network, TomoChain in this case.

How does this change under TRC-21? The gas fee now can be paid in TIIM and is fixed to the price of TriipMiles. Right now, the price of this fee fluctuates quite a bit depending on how much TOMO is worth; it goes up if TOMO goes up. So, TRC-21 pegs the fee to what TIIM is worth, accepts payment for this fee in TIIM, improves stability and speed of our system … It’s just overall better.

This is not an uncommon problem with blockchain technology. The biggest programmable currency by market cap to date is Ethereum. Right now, they are facing the same issue with paying gas fee by $ETH, which causes a lot of inconvenience for tokens built on top of Ethereum

What countries currently support Triip?

Top 3 countries TIIM holders come from: Indonesia, India, Vietnam

Top 3 regions travelers come from: Europe, Asia and United States

Can I book tours/hotels with TIIM?

We plan to roll out this feature at the same time as TIIM listing and withdrawal. It also includes building Triip Pay, which allows easy access and payment option for users on Triip app. We’re targeting a release period of Q3 this year.

That’s it for this week. Don’t forget to send us more questions. See y’all at the next episode