FAQ | Traxia Foundation (Official)

Frequently Asked Questions

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We hold frequently Ask Me Anything (AMA) sessions in our Telegram Group. If you have any other question send us an e-mail to foundation@traxia.co

if you have other questions please contact us at foundation@traxia.co

FAQ

 

  1. What happened with TMT?

 

We are grateful for the continuous support of the Cardano Community and the first investment of Emurgo. In June 2019 we have expanded our network of friends and supporters to the Binance Chain. Meaning that Traxia launched its token, now called TM2, on Binance Chain.

2. Is TM2 different from TMT?

We will issue ‘TM2’ on the Binance Chain (BEP-2)  and TMT was on Ethereum (ERC-20). TM2 will have a different supply and a different initial price. Details in terms of pricing, supply etc. are not final at this point in time and need to be confirmed with the team at Binance.

3. I have TMT, how can I get TM2?

The process to swap TMT for TM2 is over, it lasted for over 30 days between June 6th 2019 and July 10th 2019. We sent e-mails, announced it on all our social media channels, etc. If you have doubts or questions please contact us at foundation@traxia.co

4. Kucoin delisted TMT?

Yes, by our request as we no longer support TMT. We have swapped it for TM2 which we will hopefully list on Binance Chain.

5. What are the advantages to move to Binance Chain?

It depends on which blockchain you compare it to and hence having a live mainnet helps. Also, the use case of your application and business model are relevant in our case a utility token to settle fees within the ecosystem and hence a chain such as the Binance chain that has proven this model with BNB seems to have a lot of advantages for us going forward and an excellent fit. Then there’s improved liquidity if/when we are listed on Binance DEX.

Furthermore, not having smart contracts running on the chain seems to improve performance and better targeted at utility tokens to settle. Applications and processes that require those contracts can still be done but won't affect the onchain performance

6. Where will I be able to store TM2 (a BEP-2 type token)?

Wallets initially supported on Binance Chain include Trust Wallet, Ledger, Enjin, Magnum Wallet, CoolWallet, Coinomi Wallet, Atomic Wallet, ZelCore Wallet, Infinito Wallet, Math Wallet, Ellipal Wallet, Guarda Wallet and Exodus. Users now have access to the Binance Chain Explorer, web wallet, public data nodes and APIs.

If you use Ledger it is also OK.


 

7. Will TM2 be listed on Binance DEX?

TM2 will be launched on Binance Chain and most likely on Binance decentralized exchange (DEX). Binance DEX  is built on top of Binance Chain, which they started developing and grew into a community initiative, and will use Binance Coin (BNB) as a native asset. Through Binance DEX one can send and receive tokens to anyone on the DEX, send tokens to others on the DEX, and receive some in return, issue and burn tokens as needed, freeze and unfreeze tokens. Additionally one can propose new trading pairs, with the whole community having a say on the merits of the pairing.

 

8. How much do you expect to raise when you launch TM2?

This needs to be confirmed with the Binance team first.

 

9. Can I store TM2 on my Ledger hardware wallet?

Yes. Ledger supports the Binance Chain and therefore will support TM2

 

10. Will Traxia not move to the Cardano Blockchain?

As most of you know, Traxia and its ecosystem was the first investment Cardano made through its investment arm emurgo (https://emurgo.io/#/en/what-we-do). To be upfront, we still believe that the blockchain developed by the team of IOHK will be one of the leading chains at one point in time. Like Tether (USDT) being issued on multiple blockchains (Omni, Ethereum, EOS), we believe in interoperability between chains and see great opportunity in such an agnostic approach.

 

11. How does your roadmap looks like from now on?

We understand your request for increased demand in the utility Token and having followed the market closely, so far, the only working utility tokens are tokens such as BNB. To accommodate your wishes, we will exclusively focus on improving our decentralized exchange and what we call listing providers, which is an exchange focused on tokenized debt assets.

We aim to get a first offshore license for trading regulated securities within 3-4 months after the TGE and get liquidity on this market before the end of 2019. This is what we believe is the most viable approach to create demand for our new TM2 token.

We believe that the move to Binance Chain will be great for the future of the Traxia Ecosystem. We thank you again for all your support and we appreciate your commitment to a better future for Traxia with TM2!

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