SCO Lab AMA: TPU- Token Promotion Union
The 5th AMA from SCO Lab Introduces TPU- A One-stop Technical Service Platform for Token Promotion
The following is the transcript from the TPU AMA:
Host Yibao: Good evening, everyone. I’m Yibao from BEPAL. It’s a pleasure to meet you.
Tonight, it is the fifth online AMA in this group. I have participated as an audience several times before. This time, I will join you all tonight as the host for this AMA.
So, let’s begin. First of all, let me briefly introduce what an SCO is.
SCO is an asset issuance model initiated by SCO Lab to obtain new tokens by staking tokens of public chains. It is also a great pleasure to preside over this AMA tonight as a member of SCO Lab.
Special thanks also go to the following media partners for their continued support and assistance:
Bixiaobai, Shilian.com, Honglian.info, FN.com, Yunshi24.com, Miuzixun.com, Lianshijie, Bitett.com, Fengli.com, Ping.com, Niushi.io, Bightbc.com, Btcmoney.cc, Coinplay.shop, Maiyaotop.com, Iott.info.
The project in tonight’s AMA is TPU (Token Promotion Union) brought by Mr. Han.
In 2009, Mr. Han led the research and development of Sina Mailbox Transfer Station and participated in building the distributed storage platform for hundreds of millions of users. In 2011, he started a business on a game platform, which has been acquired by Changyou. In 2015, he joined Xinginvesting as chief architect and started an internet finance business. In 2017, he started a blockchain company and led the team to develop features such as distributed privacy storage, exchange, multi-currency wallet, encrypted communication, social platform, automatic coin selling system, auction system, etc.
Thank you Mr. Han for being our guest of SCO Lab Genesis Group tonight. First, let’s welcome Mr. Han to give a brief introduction on TPU.
Mr. Han: TPU is the abbreviation of Token Promotion Union, and it is a one-stop technical service platform for the promotion of tokens. The aim is to establish a technical product union for digital asset promotion and provides promotion services for multi-currency red envelopes, card vouchers, fission system and other related technical products to help popularization and application of digital assets.
Host Yibao: Thank you for your introduction. Now let’s start tonight’s questions and answers
Q1. Host Yibao: Why did you start TPU?
Mr. Han: In the current digital asset industry, many project developer are repeatedly creating same basic products to promote their digital currencies, such as red envelope system, lottery, card vouchers and so on. There are several major issues with it:
Issue 1: Projects repeatedly develop products with common needs, which is a waste of industry resources.
Issue 2: Systems between different projects cannot be interoperable. For example, the users of project A can only send red envelopes to the users of project A, but not to the users of project B directly, forming an isolated islands for their own assets and products.
Issue 3: The industry’s cognitive background demand is too high, too technical, and it is not very friendly to the general public.
Issue 4: Wechat platform, etc. has made a lot of restrictions on the promotion of digital assets, and some of the boundaries are not so clear.
So, we want to do something to really solve the problems for this industry, no matter big or small.
Host Yibao: Well alright, we are doing this more accurately from a general public’s perspective.
Q2. Host Yibao: Some people say that the Token Promotion Union is quite small and lacks imagination. What is your opinion?
Mr. Han: I’ll talk about it in several ways:
The Value of Promotion
The largest advertising company in the world is Google, and the largest advertising company in China is Alibaba. There is a huge market to make good products known to the target client groups, and it is our goal to make the whole promotion process intelligent. mathematical, and standardize
Derivation of Value
We can let more people know digital tokens in all kinds of ways, and turn an ordinary user into a high-value token user and provide investment and opportunities to more people, and also bring additional value to relevant partners and industry service providers.
The core of TPU’s mission is to bring real value to the industry. As Ren Zhengfei said, “grind your own tofu and make your bean sprout well.” TPU will also focus on doing a good job on our technical platform for token promotion.
Host Yi Bao: What Han said is very reasonable. Only by grinding own tofu well and making own bean sprout well can we really get things done.
Q3. Host Yibao: What products will TPU release for everyday users?
Mr. Han: TPU’s strategic planning is holistic and ecological, but focuses on single-point implementation.
We have long-term plans, but at present we will gradually complete the following products and protocol specifications:
Multi-currency Red Envelopes
Projectors can interoperate cross-chained digital assets they own into TPUchain. The system-integrated Red Envelope Cloud Open Platform and Red Envelope Cloud DApp can enable users to send all kinds of digital-asset red envelopes quickly, and help project sides and business to carry out all kinds of marketing activities.
Characteristics are as follows:
· Red Envelope Cloud Service Based on Encrypted Digital Currency which is designed to support API, SDK and other access modes.
· There are many ways to play, such as fixed red envelopes, random red envelopes, red envelopes for taking a quiz and so on.
For example, if we have a few friends together today, then I can support:
· Card Voucher Service Based on Encrypted Digital Currency, supporting API, SDK and other access modes
· Multi-scenes support, coupons, fan vouchers, etc.
Fission System Services
· Fission services to support rewarding system for multiple marketing promotions
Union Interface Standards
To promote the co-construction of distributed business ecosystem pools by different projects in the form of union protocols, we adhere to two standards:
· Standardized marketing product enabling project
· Union interaction protocol avoiding asset isolation
Q4. Host Yibao: Why is TPU’s slogan so plain and very subversive?
Mr. Han: The meal has to be eaten one bite at a time, and Rome was not built in one day. After experiencing a craziness of the market in the last two years, we choose to be down-to-earth to work on the real field.
Currently, we need to ask the projects a few questions:
1. Who are you serving?
2. Who will pay for the cost?
3. Industry prospects for your future
It all needs to go back to the essence of business. The future is a dream and living in the present is a reality. If it can be born in the cruel winter, this means strong vitality in life itself.
Q5. Host Yibao: Why are you doing TPU rather than others? What are the advantages of your team?
Mr. Han: The fundamental reason is that I am willing to do, I want to do and I can do it, lol….
A person can nourish his soul if he does something he wants to do from his heart; if it has commercial value, it can nourish his body. TPU is such a valuable thing for me in both aspects and I am willing to do it.
At the same time, our team has combined experiences and technologies in the telecommunications industry, internet industry, financial industry, and the blockchain industry. It is a natural thing for us to do this.
Host Yibao: Well, it is indeed. If you are doing something you really want to do, you will feel very happy and worthwhile to do it. It is precious for people to do what they really want to. I believe that this team will do a better job in TPU project under the leadership of Mr. Han.
Q6. Host Yibao: Why do you choose to issue TPU using SCO?
Mr. Han: What is human nature? It is to keep the tigers in the cage. What is the test of human nature? It is to open the cage to see if there are tigers in it. Why do most ICO projects lose control of the use of funds? It is because they are testing our human nature!
Don’t test human nature, and don’t test your boyfriend and girlfriend.
The SCO proposed by SCO Lab has given the decision-making rights to investors, which is a truly innovative model. It is a healthy and sustainable model for both investors and project parties. Capital and project parties are all in right place. SCO does not need to test human nature. If a person really wants to make one thing, he needs self-restraint and good supervision. So, we decided to issue TPU based on the NULS SCO mechanism.
Q7. Host Yibao: Could you give us more details about the supply and use of TPU token?
Distribution of the Token
The total amount of TPU token is 100 million.
10 million tokens are distributed on SCO, accounting for 10% of the total, and distributed over five years.
10 million tokens are for team incentives, unlocked and distributed in 5 years time;
The initial distribution amount is 15 million;
The overall distribution cycle is not less than 10 years.
Usage of the Token
Circulation: pay for products and services of TPU union and union members
Incentives: Tokens from TPU union after removing operating costs and development funds are used to reward TPU holders.
Governance: voting on union proposals and evaluating project promotions
Identity: Holding a certain amount of TPUs will get discounts on handling fees when you enjoy the services.
Q8. Host Yibao: What help is needed for the development of TPU?
Mr. Han: On the one hand, we need exchanges, media and community operators in the industry to do this together.
On the other hand, we especially hope that the artists of literary creation will join us to make the cold digital and technology more sensible and interesting. In October, we will open up a science literature creation space in Beijing and you are welcomed to visit us.
Host Yibao: What kind of chemistry would science technology and literature creation bring together? I really look forward to it.
Q9. Host Yibao: How do you think the recent changes in industry prices will affect the development of TPU?
Mr. Han: Few would expect Tencent’s stock to rise several hundred times after it was listed in Hong Kong Stock Market; Redhat’s share price dropped 99% when the Internet bubble burst in 2000, but the company was bought by IBM last year for over $34 billion.
The price of any valuable projects will eventually be reflected in the market, this is the price discovery mechanism provided by the market.
It is now in the bear market in terms of the price, but in fact, the real industry practitioners are taking advantage of this downturn to go through their projects and make corrections, to reflect and verify on their past project developments, and to go back to the essence of their project by asking themselves: what value does it really create?
Speculation, to a project has some value but that is not what we do here with TPU. The goal of TPU is to promote digital tokens from the perspective of automation technology so that everyone can use the tokens. This is what I personally would like to do, so in some extreme cases, TPU can continue to move forward even without any financial support.
The biggest impact of price fluctuation is actually on psychological expectations from investors and the corresponding involvement with the market. This will certainly affect on what resources that TPU can attract and project progress of TPU. We will act according to the situation of resource aggregation.
Q10. Host Yibao: Are you worried about competition from other projects in the industry? What are the advantages of TPU in these areas?
Mr. Han: Not at all, to be honest.
To make a metaphor, I’m a cook. I’m very happy to have a standard new dish. And I opened a restaurant to share my new dish. If there are more projects to do similar things together, then we can cultivate this market together.
The core here is the need for a union interoperability protocol that everyone can recognize, allowing product interoperability. For example, the users of my project can send red envelopes to users of any other union projects directly.
Q11. Host Yibao: What plans does TPU have for the exchanges?
Mr. Han: We are communicating with some exchanges. During the development of our project, we hope that there will be exchanges that can cooperate with TPU on a deeper level. In this process, it would be highly valuable to have a standard product and token swap protocols, such as ITU-T standards, IEEE standards, etc., that make it possible for inter-blockchain communication
Q12. Host Yibao: Can you tell us something about the team behind TPU?
Mr. Han: At present, TPU core members are mainly technical personnel including experienced practitioners in advertising technology, big data and artificial intelligence. I’m just their spokesperson. All team members will be made public at the appropriate time. At present, we focus on developing products that can work, just like the first beta we see today. If you are interested in an open union with technical standards and automation intelligence, self-organization and self-maintenance products, please feel free to contact me.
I personally expect there will be a rotating chairman system that will be elected by the TPU community. The team will be floating which means team members in TPU are shifting and driven by community demands.
Questions From the Community
Q13: Is it possible to unlock TPU by mining? If so, what is the mining mechanism?
Mr. Han: Yes. Anything conducive to the development of TPU is mining.
There are two types of mining:
Staking Mining: Users stake TPU or deposit other digital assets on TPUChain;
Behavior Mining: Promotion, sending red envelopes, using card vouchers, finding bugs, writing documents, designing mascots and other events that contribute to TPU union is also worked as mining, we will release the relevant rules shortly.
TPU distributes 2 million tokens per year for participating in SCO, and rewards every 100 seconds. The earlier the participation, the lower the cost. For the staking mining just mentioned, SCO is actually the same model.
Q14: What is the distribution mechanism of TPU participating in SCO?
Mr. Han: TPU distributes 2 million tokens per year for participating in SCO, and rewards every 100 seconds. Earlier you participation, lower the cost will be.
Q14: How do you plan to promote it? I mean, how do you cooperate with the projects to attract users, or how do you find users for TPU?
Mr. Han: We also have some traditional resources. The plan is to conduct 2C in the way of 2B. In fact, the whole tokenization is a trend for the next 5–10 years. With 40 million small and medium-sized enterprises in China, this market is bigger than anyone expected. The token can be integrated in all aspects, while we just take one point for now. We can talk about it later. Someone may say five years is quite a long time. It usually takes more than five years for any entrepreneurship project from the starting point to build a stable users base. The crazy period where you invested 100 and gained 10000 at the end of the year has passed, which does not conform to the law of business growth. Therefore, the token resources should be released gradually with a long-term plan.
Q14: Which public-chain token does TPU plan to integrate? Will public chains like NULS be supported in your applications such as red envelopes and card tickets in the future?
Mr. Han: Our goal is to build a distributed token promotion union, which will continue to interact with new public chains. Support of NULS and its ecosystem will be completed in October this year and other public chains are also on our list. We will also customize it with our relevant partners.