Thanks to all for participating in our AMA with Torum. We really appreciate all your support. There were really good and thoughtful questions that were asked. For those who missed our AMA, this AMA recap is for you.
CryptoNationIN – Hello Crypto^^Natives👋
We’ve Jayson from TORUM with us.
🎊Jayson welcome to the CRYPTO^^NATION 🎊
Jayson – Hello Crypto^^Natives!
Thanks for having me here
CryptoNationIN – We are pleased to have you Jayson
Before we start, please tell us how are you doing?
Jayson – Feeling awesome to be sharing Torum to one of the most-engaged communities in the space!
CryptoNationIN – Awesome
Let’s get into this AMA
Starting with introduction
Please introduce yourself to us.
Jayson – Hey guys, I am Jayson, the co-founder and CMO of Torum, one of the largest social media projects in the space.
Got into the space back in 2017 and realize that newbies are getting scammed, projects are getting rekt by marketing. So, I began to work with my crypto buddies on a solution to fix these industry dilemmas at once.
We thought that connecting everyone through a social media platform is the best way to spread knowledge and prevent newbies from being rekt, and also providing a cost-effective marketing channel for projects to do branding.
Hence, we founded Torum!
CryptoNationIN – Great initiative
Could you please introduce Torum to our community?
Jayson – Torum is the world’s first NFT and DeFi social media platform that is specially designed for the crypto industry.
Through Torum, we aim to leverage the potential of social media, NFT and DeFi to build the largest one-stop social media ecosystem of the crypto industry.
We have recently secured a strategic investment from Huobi Ventures, the venture arm of Huobi Global and accumulated over 75,000 users from a total of 205 different countries.
Feel free to check out the platform here: https://intro.torum.com/
Here’s a product screenshot of the Torum platform
CryptoNationIN – Looks fascinating
Please tell us about the tokenomics of Torum token.
Jayson – Sure, 10.9% of the tokens is offered for the token sale events (including seed, private, presale and public).
7.7% is allocated for marketing.
8% is channeled to strategy, developers and advisors.
The community can get XTM through ecosystem which requires completing Mission on Torum (25%) and LP (15%).
Lastly, 8.4% is in reserve and 25% of the tokens are allocated to the team.
The seed, private, presale and the 1st public round – ISNO is already complete, leaving IDO the last sale for everyone to hop on the Torum train.
This is the chart for the Torum tokenomics.
CryptoNationIN – Tokenomics looks solid
Please tell us about the roadmap of Torum.
Jayson – In the coming Q3, we will focus on the launch of Torum IDO event and the release of two key products of Torum, including Torum Airdrop and Torum NFT Launchpad.
We will be using the strategic connection (secured from Huobi Ventures) to initiate a mass HECO-based projects onboarding plan. We have already confirmed collaboration with two biggest HECO projects, where one of them is the top DeFi project in the HECO chain.
Here is an overview of the Torum plan for Q3 and Q4 2021.
Expect big things to happen on Torum for the next few weeks.
CryptoNationIN – Tremendous
Could you please share some of the strategic investors who are backing Torum?
Jayson – In addition to Huobi Ventures (https://cointelegraph.com/press-releases/torum-announces-strategic-investment-by-huobi-ventures-heco-fund), Torum is backed by 20 crypto VCs from different regions, including Tier 1 VCs, like AU21, Consensus Lab, M6, DFG, Lotus Capital, Waterdrip Capital.
We are even backed by Hotbit, BigOne and BKEX, some of the most popular Tier 2 cryptocurrency exchanges.
CryptoNationIN – That’s really impressive
Could you please tell us about the partners of Torum?
Jayson – Sure
We have the pleasure of working with some of the biggest projects in the space. They are
Huobi Ventures (https://www.huobi.com/en-us/capital/), the venture arm of Huobi Global
Jinse Finance (https://www.jinse.com/), Largest Chinese Crypto Media
Mantra DAO (https://mantradao.com/), DeFi x DAO project
Kylin Network (https://kylin.network/), Polkadot Data + DeFi & Web 3.0
Poly Network (https://www.poly.network/), Cross Chain Project Supporting BSC, ETH, SOL, ZIL, EGLD
Darkpool Liquidity (https://liquidity.ltd/), a 2x Binance API competition Winner
In addition to them, we are partnered with Blocklime (a distributed ledger technology (DLT) enabler partnering with R3, RSK of IOVLabs and AWS Activate ) and ACCESS Blockchain Association Malaysia (The largest blockchain non-profit organization in Malaysia).
CryptoNationIN – Great!
Q1. I saw that Torum had recently acquired a strategic investment and partnership with Houbi Ventures HECO Fund. Does this mean we’ll be seeing Torum be able to work, adapt and communicate with the HECO network?
Jayson – Absolutely. We have been in talks with some of the most promising projects in the HECO chain and working on onboarding them to Torum. The Huobi Ventures’s resources and connections make things alot easier here.
There is a lot more that I wish to share, but I prefer to let my actions do the talking.
Q2. When creating a social media platform you need to have an addictive factor, so users will spent more time in it, how do you keep users hooked after they know the platform? what makes Torum interesting as time pass?
Jayson – First one is the mission incentive of Torum. Everyone can complete a series of social media tasks and receive XTM in return.
A potential earning is still the best essence for a crypto user to continue using something. The GameFi trend proves that. As we go into Q4 2021, we will transition into a more complex SocialFi ecosystem, where the profit generated by the ecosystem will be channeled to the community on Torum.
Compared to other social projects, Torum can offer something that others could not provide, which is a social media ecosystem that is exclusively for crypto users and built with crypto-niche features, like the Torum Airdrop and Torum NFT Launchpad that are covered just now.
Imagine going to a world where everyone is a cryptocurrency user and you can find every crypto-related service like finding #DeFi projects, buy #NFTs, participate in #airdrop campaigns, join a crypto #AMA session, etc.
I don’t think there is any reason not to use Torum as a cryptocurrency and blockchain enthusiast.
Q3. Can you tell more details about Torum please and how the NFTs will be used?
Jayson – As an intro to what the author is asking, Torum Finance is the DeFi platform of the Torum ecosystem. The NFTs that are mentioned here is the 363 ISNO NFTs that Torum sold back in May 2021 (https://www.globenewswire.com/news-release/2021/05/12/2228322/0/en/Torum-Completed-the-World-s-First-Initial-Staking-NFT-Offering-in-Less-than-20-Minutes.html).
You can either sell the NFTs to other people or stake in Torum Finance to increase your LP farming stake.
So, 15% of the total token supply will go to this LP farming over a span of 33 months.
After you provide LP with XTM and BUSD on Pancake, you can stake the LP tokens on Torum Finance to get a reward of this LP reward. In addition to stake the LP tokens, you can also stake the ISNO NFTs to multiply your stake in the pool.
This means that with the same amount of LP tokens, any LPs who staked the NFTs will enjoy a premium bonus stake, which potentially increase your earning as a LP.
Hope this answer your question, mate.
Q4. What do you consider to be the best features of “Torum” ? Are there any features that “Torum” has that we can’t get on any other platform? Where can we stay informed of all the news that “Torum” has to offer us?
Jayson – In addition to the Torum Airdrop and Torum NFT Launchpad that were covered, Torum will be launching other key features like
• Torum NFT Marketplace
• Torum Finance
• Torum News
• Torum Lounge
You can find the description of each feature here: https://medium.com/torum-official/unveiling-the-torum-h2-development-roadmap-5b664f655500
Among them, Torum Lounge, Torumgram and Torum News are the 3 key features that you can’t find on other social media platforms.
Torumgram is the feature for you to integrate Telegram to Torum. Imagine using Telegram for altcoins hunting and then sharing the info directly on a social media platform.
Torum Lounge is an interactive audio board for creators, influencers and projects to hold podcasts and AMA. Imagine having a crypto Clubhouse together on a comprehensive social media platform.
Torum News is the place for everyone to get updated to any latest media news of their favorite projects.
I might be biased here, but I don’t think there is any social media platform that is as innovative and creative like us.
There is only Torum.
Q5. Many people want to learn about your project but they have problem with English, so do you plan to spread awareness about your project in different countries where English is not good? Do you have marketing strategy aimed at developing many different communities?
Jayson – This concern is 100% valid. We faced culture shock and language barrier as we expand to different regions.
The first improvement we made is the global translation feature on Torum. Might sounds strange for you, only Torum is doing a translation feature to better connect every crypto lover in the industry. Other social media projects are kinda ignorant to this little puzzle. With a global translation feature, everyone can understand one another better, thus a more connected social media platform is created.
The next one is the community ambassador program that will be released in the coming mid Sep (expected). We will be getting onboard some top quality community leaders from different countries to lead the Torum community across all the regions.
Having a person speaking your common tongue is still the best way to communicate something.
I am confident that with these two key puzzles are secured, the communication issues will be minimal.
Q1. What are main products? In What cases is the current Torum used?
Jayson – Torum social media is our main product. It’s released for over 13 months and now has over 75,000 users. You may join it here: https://www.torum.com/signup
But please do not SPAM on the platform as you will be reported and your mission system will be freeze.
Q2. For project development, the main priority is to have sufficient funds. Is your team financially able to carry out? Do you have sufficient funds for development?
Jayson – We have raised over $ 2 millions for Torum. I think that is suffice for the project to move to the 2nd phase.
Q3. Only getting users, holders etc is not everything. In my opinion, a project needs to deal with solving a real world issue or problem What is the problem that your project primarily focuses on?
Jayson – We solve 2 key issues with the relevant solutions here.
Projects: Struggling to sustain with incredibly expensive marketing budget
Solution: BUDIL a one-stop marketing and community building suite for projects
Community: Lured into scams due to big knowledge gap of the industry
Solution: BUIDL a beginner-friendly social learning platform for people who are interested to learn crypto and blockchain
Torum is a project that can solve key problems faced by different perspectives.
Q4. Are you working to AUDIT YOUR PROJECT to make it more secure and reliable?
Jayson – Of course, feel free to check the audit report here: https://fairyproof.oss-ap-southeast-1.aliyuncs.com/doc/Torum-Audit-Report-051721.pdf
Q5. Which platform are your closest competitors? suppose, do you accept Uniswap, Curve or Balancer as your competitors? Also How will you take to the next level?
Jayson – I would say Bitclout is our closest competitor. Trodl can also be considered as one. I think what is covered in the AMA earlier already answered your last question.
Q6. Do you have a Token Burning plan to increase Token value and attract Investors to invest?
Jayson – We will allocate 5% of the ecosystem profit to do token buyback-and-burn every quarter.
Q7. You said that BSC has the Torum to surpass the Ethereum Network and having Torum in BSC makes the user adoption process much easier. But wouldn’t you consider cross-chain technology as your project expands?
Jayson – I am 100% sure that we never said that. But Torum is found on multi-chain, including BSC, HECO Chain and Ethereum.
Thank you Jayson Tan (CMO & Community Manager) and Community for participating in the AMA. Have a nice day.