Tokel has been the most brought forth project from the Komodo Ecoystem. This year marked the start, release and major updates for tokel. There were many key events to look forward too. We have made a simple timeline of all the key events from the tokel team for the year 2021.
We have kept it simple and intuitive to make sure you don't miss any major updates from the Tokel platform. The timeline consists of discord posts all filtered into this single post.
We have hit our second milestone in our communication/information passage efforts (The first being this discord)
I'd like to introduce the tokel website!
Please check out the website and let us know what you think! We have gone with a minimalistic design approach, with brief explanations of what the platform will offer. Some of the images you will see are a sneak peek at the all-in-one application design images. This design is a work in progress and will adapt as we continue development. The website itself provides a basic overview and understanding of what the Tokel platform is trying to achieve. You can also find links to our GitHub and discord.
What have we been working on?
- Tokel paper
- Development roadmap
- Discord bot integration discussions
We have been busy working on this website along with the Tokel Paper. The Tokel Paper is in the final stages of review and will be posted to the website once it is complete. This will provide a more in-depth look into the Tokel platform, compared to the website.
From a development standpoint, we are solidifying our development roadmap. The roadmap will outline our goals and estimated timeline for the stages of development. We will use this to guide development efforts and provide us with a less-restrictive framework to remain nimble enough to pivot and adapt where necessary.
We are committed to transparency, which includes open, clear communication. If at any stage, you have a question about the platform, please post it in the discord and we will do our best to answer it as clearly as possible.
We are excited to see some forward movement for the project and look forward to sharing more milestones with you in the future.
As promised, we have completed and released the Tokel Paper. You will find it on the website, or at our GitHub; links are below.
Although 13 pages, there are lots of graphics in there, so don't think it's too overwhelming. It should take about 15 minutes to get through the whole thing. The intent of the paper is to provide an overview of what we plan to do, what problems we are solving, and with what solutions. We do not deep dive into the 'how' because we intend for that to be general and have more data within the roadmap.
Topics that the paper talks about:
What is Tokel and what do we plan to offer
What Antara Modules Tokel plans to use.
Tokel blockchain specifics (minus the exact chain params as this is not set in stone until we conduct testing)
A deep dive into the Tokel application and what each release schedule looks like.
Please let us know what you think!
The Tokel Team
What you see in that transaction is the first NFT to be sold on the TKLTEST chain with the new royalties function! This function went from concept to reality in about 3 weeks.
The NFT cost 1000 TKLTEST coins, and you can see the seller receives 900 TKLTEST and the original creator of the NFT receives 100 TKLTEST (10% royalty). The 1 sat output value is the NFT UTXO itself, and the 0.0001 TKLTEST output is the tx fee for the order.
The Tokel and KMD team have been working together to improve the tokensv2CC. When creating NFT's, for those looking for ultimate flexibility, creators can have their NFT 'data' field contain completely arbitrary data. With what I am dubbing the "Tokel Standard 1" (TS1), creators can add the following fields:
ID URL Royalty fee (x/1000) Arbitrary Data
Royalties allow the creator to set a percent(x/1000) in NFT creation, which they will receive if their token is sold using the Assetsv2CC (the on-chain tokenDEX). Creators can continue to generate revenue from follow on sales of their NFT's, for the rest of time.
At the moment, we are testing on an isolated branch of the komodo. Once we have finalised polishing off what we wanted to adjust, this will be PR'd into the main Komodo github and we will look to launch the main Tokel smart chain.
The time has come, I introduce the Tokel blockchain!
./komodod -ac_name=TOKEL -ac_supply=100000000 -ac_eras=2 -ac_cbmaturity=1 -ac_reward=100000000,4250000000 -ac_end=80640,0 -ac_decay=0,77700000 -ac_halving=0,525600 -ac_cc=555 -ac_ccenable=236,245,246,247 -ac_adaptivepow=6 -addnode=188.8.131.52 -addnode=184.108.40.206 -addnode=220.127.116.11 -addnode=18.104.22.168 &
Please have a read of the documentation listed on our website and github for instructions on how to run the chain. If you have any questions, join our discord and join in on the conversation!
I'm also extremely excited to launch the first release of the Tokel all-in-one(AIO) GUI application. Although we haven't talked too much about this in discord, @daria and @acnebs have done a fantastic job over the last few months to create an incredible experience. This first release incorporates nSPV super-lite wallet technology to bring you an incredibly fast way to access your Tokel coins. Keep your eyes peeled for further releases; the next release will allow you to access and manage your Tokel tokens from within the app (token wallet).
To access and use all of the features of the Tokel platform, you will need to use command line interface (CLI), or wait for further releases of the Tokel AIO application.
We look forward to seeing what masterpieces and what applications are created that utilize Tokel token technology!
Introducing the Tokel IDO on AtomicDEX
Tokel will be conducting an Initial Dex Offering (IDO) on the AtomicDEX (a decentralized, non-custodial exchange) application.
There will be a total of 20 million TKL listed on AtomicDEX, split over 2 phases. As anybody that conducts trades with TKL during the IDO will be considered an Early Adopter of the project, these TKL will come from the Early Adopter allocation as listed in the whitepaper.
The IDO will start at 8 pm UTC on August the 30th. It will run until all offers are filled or for roughly 16 days total, 2 days for Phase 1, 14 days for Phase 2.
Phase 1 - Price Discovery This phase of the IDO, as the name suggests, will facilitate a level of price discovery. 500k TKL will be separated into 50 orders of 10,000 TKL each. The orders will start at 1 TKL for 0.01 KMD to 0.402 KMD increasing in increments of 0.008 KMD per order. These orders will be available for a total of 48 hours. Following that time, the orders that haven't been filled will be removed, and the next phase will start.
Phase 2 - IDO In this phase, the remaining TKL (any left over from price discovery and the previously unlisted 19.5 million) will be listed on AtomicDEX at a single price. These TKL will be listed at 70% of the final Phase 1, price discovery, price. This order will remain available for 2 weeks or until the order is fully depleted. Shall the order not be fully depleted.
For more information, please check out our website, and read the bitcointalk post (it has all the details!) https://bitcointalk.org/index.php?topic=5352009.msg57630295#msg57630295
Tokel will be conducting an airdrop onto Komodo holders.
A total of 8 million TKL will be airdropped onto KMD holders.
The snapshot for this airdrop will occur on a random day 1 week (7 days) prior to the start of the IDO (30th of August) and will be airdropped in October.
n order to participate in this airdrop, all you need to do is hold Komodo in your wallet at least 1 week prior to the IDO. If you do not have custody of your KMD (have the privkey to the address you hold funds in), it should be assumed that you will not have access to your airdropped TKL as we cannot guarantee 3rd party custodial holders will know about the airdrop, or pass it on to you.
We will inform the community once we have completed the airdrop. The airdropped TKL will go to the same address that you held KMD in at the time of the snapshot. All you need to do is open that address on the TKL blockchain and your TKL will be there. You can do this via any wallet application; Tokel App, AtomicDEX, CLI.
If you have any questions, please join the Tokel discord.
We would like to share the details and specifics of the premine allocations, where they have gone, and what TKL has been time-locked to what time.
The Tokel premine was decided as a necessary function to secure funding for the project. Both to get it off the ground and to ensure future development. Many projects have suffered from a lack of proper development due to almost non-existent funding mechanisms; we did not want to fall into this trap. Tokel will give everybody, inexpensive access to create and utilise tokens, and all the token features on the Tokel blockchain. Although a fair launch, no premine, is noble in concept, it would have been prohibitive for any development in practice. To that end, the details are as listed below.
All allocations are set out within the Tokel paper and should be referred to as the primary reference.
Total premine: 100 million TKL
Of this total, the allocations are as follows.
Initial Adopters allocation (20 million TKL) - Timelocked until 1st of October 2021
Early Adopters allocation (20 million TKL) - IDO TKL, No timelock
Trading incentive/liquidity allocation (10 million TKL) - No timelock
Bounty/Incubation allocation (10 million TKL) - No timelock
10 million TKL (Komodo Team allocation) - Timelocked until 1st of October 2021
30 million TKL (Tokel Team allocation) - Timelocked until 1st of February 2022
As you can see, the Initial Adopter and Team allocations have been timelocked and will only be accessible from the dates listed above. A time lock is a condition given to the transaction that disables the recipient from spending those funds until the time specified within the transaction. So although the funds may be in the recipient's address, as seen on the blockchain, they are unable to use or spend these until the specific date/time has passed.
Why did we do this? We made the decision to lock the team funds until the 1st of February 2022 as this aligns with our goal of releasing the feature complete All-In-One application. This provides an incentive to the team over time and will ensure future development efforts can continue to be made.
As always, if you have any questions, please join our discord and we would be happy to answer them. https://bitcointalk.org/index.php?topic=5352009.msg57814331#msg57814331
I'd like to thank everybody that participated in, and watched the very first Tokel Talk.
This is a must watch if you missed hearing it live!
We had an absolutely fantastic discussion on the future of tokenization. Hear from our special guests:
- Hashratez - Etho Protocol (BPSAA)
- Zullu NFT enthusiast from the Pirate Chain ($ARRR) community
- Andrew who is well versed in economic and public policy from the Pirate Party of Australia team, and
- Ejuliano, NutellaLicka & dreamTim from the Tokel Team.
- What a token really is; Decentralized, ownership, authentication, identity.
- The problems with legal system accommodation
- The importance of decentralized, public blockchains; "Public blockchains are the neutral arbitrator of business" -HashRatez
- The problems with paper gold and rehypothecation
- Copyright/digital rights management issues that tokenization can help with - Business/enterprise adoption leading the effort to tokenize the world.
The Tokel Team would like to sincerely thank and congratulate everyone who participated in the IDO! The IDO has now officially come to an end.
This IDO was the very first to ever be conducted on the AtomicDEX application. As a Komodo ecosystem project, with many KMD ecosystem community members at our core, we would like to thank the Komodo team for facilitating this endeavor.
To everyone that is now a TKL holder, I congratulate you and hope that you are able to help the platform grow by using and showcasing what you can do with your TKL. The biggest thing one can do to assist the project is to create, trade, and actually utilize tokens on the Tokel blockchain. You are now, and will forever be a Tokel Early Adopter; those who ensured the continued development of the Tokel Platform.
The Tokel IDO statistics
TKL Sold 2,695,306 TKL
KMD Raised 722,837 KMD
KMD price at end of IDO $1.15 USD
USD Equivalent Raised $831,262
Tokel time-lock rewards plan
The Early Adopters that held TKL at the end of the IDO (8pm UTC on the 15th of September 2021), for every 1 TKL you held, you will receive an extra:
6.258 TKL total
3.129 unlocked on the 15th of June 2022
3.129 unlocked on the 15th of March 2023
Thanks again, The Tokel Team
Dear Tokel community,
Apologies for no dev updates in the past weeks. We ll stick to bi-weekly updates on Tuesdays now so everyone is in the loop. (next one is on 28th to align with our sprints)
>>>>>>>>>>>>>> PAST MONTH RECAP <<<<<<<<<<<<<<<<<<<<<<<
- We have published bitgo library under tokel org and we are working on it with Komodo team
- Komodo made updates to the komodo daemon for us in order for it to work with the new nspv implementation
- Token wallet visual implementation is under review.
- We have completely re-written our nspv logic.
That is a big one.
What does it mean?
We were using the original nspv C library created by jl777. We have moved on from that since the C version does not support Crypto Conditions which is necessary for token transactions.
We have now migrated to a JS implementation of Crypto Conditions Library written by dimxy, based off bitgo library. That is super cool!
Why is that cool and why should I care?
Having a working usable JS implementation in production is a massive step forward for Tokel and Komodo. That means we can create sdks for different purposes and attract more developers to use it because the entry barrier will get much lower than before.
PLUS! it's a super lightweight node that does not need to sync the entire blockchain. This opens the flood gates for many projects looking to utilize truly decentralized blockchain technology but who do not want to download and run an entire blockchain within their applications. This makes it super attractive.
The MORE PEOPLE USE IT = the MORE PEOPLE get interested IN TOKEL and the more people use KOMODO TECH = MORE SUCCESS in the whole Komodo ecosystem.
Didn't you say that this was ready a while ago?
I might have, I get very excited about things However it is hard to predict anything coz we are working with highly experimental tech and you never know how long this will take and what issues you will run into.
>>>>>>>>>>>>>> FUTURE PLAN <<<<<<<<<<<<<<<<<<<<<<<
- Rolling out 1 or maybe even 2 releases.
- Updating website with info on Finished IDO
- Workin on GUI updates with info on locked funds
- We are allocating some time to writing and testing the current version of the dapplication on multiple operating systems. We will also spend time evaluating designs and working through any issues that may arise post release
- Merging current PRs
The two releases are currently the priority. Any testing/troubleshooting/fixing of issues will be prioritised over future releases until we are happy to move on
MANDATORY FULL NODE UPDATE
We kindly ask that everybody that is running a Tokel full node (including Notary Nodes), please update their nodes with the latest code. These updates are not hard forking changes, but they are required for nSPV to provide the information for our token wallet (and subsequent dapp features) to work correctly. Along with some nSPV changes, we have also enabled nodes to identify time-locked transactions, created customized tokeld and tokel-cli commands for people to use, and changed what were previously 'cc addresses' to 'cc index keys', meaning they will have a 'C' prefixing them instead of what was an 'R' and could be confused with a users coin address. A full list of updates can be found in GitHub and summarised below.
- added 'requestId' field into nSPV protocol v5 messages to provide multiple endpoints in the nSPV client app
- better error handling in nSPV protocol v5
- Build of customised tokeld, tokel-cli binaries (Tokel chain params are passed in configure)
- nspv maxrecords param added to listunspent, listtransactions
- missing cs_main locks fixed in nspv
- nspv rate limiter allows N req/sec
- new gettransactionsmany nspv method
- new C-prefix added for cc index keys (former 'cc addresses')
- added support for CLTV transactions to the daemon wallet and nSPV protocol
If you need assistance setting-up or updating your node, please follow the first few steps in this how-to guide. If you have any issues, please let us know in the tokel-development channel
Hello @everyone !
We are holding a steady course and have released another version of the app with bug fixes. The update is highly recommended, but not mandatory.
Please download the latest version (1.1.3) here
Activity is not always correct
Wallet always tried to show media if a token URL is present
DateTime issues resolved
Bug with blank screen resolved
Strange transactions shown to the user bug resolved
Returning the correct error when the user tries to send tokens to an R-address instead of a pubkey.
Fixed an issue with sending transactions with decimal values
nspv-js updated to include latest updates from dimxy
nspv-js updated to include latest updates from dimxy
Token Creation Tool first version for internal testing
Still in progress
Tokel Talk has been listed on Apple Podcasts with the help of community member @AhmedDhaif who was also the winner of the bounty.