2021-03-22 04:34:41
Troy Network (TROY) price, marketcap, chart, and fundamentals info
TROY Network is a decentralized protocol used for transactions and payments globally. So far, the crypto market has not had a really large brokerage service and that is also the reason for the project’s birth.
Troy Trade is a prime broker, specializing in brokerage services in the financial sector to manage all other accounts for clients who are large financial institutions and professional traders including spot transactions and margin, derivative (DM), data, custody, lending (lending) and staking in a single account. Some examples of this service are Goldman Sachs, Fidelity Investments, Interactive Brokers LLC in the US financial market.
Through some documents CHK explored, the idea of the project is to create an intermediary between exchanges, financial services in the Crypto market, Blockchain platforms, and large and small businesses and homes. Invest in traditional financial markets in general. The idea is executed by creating a decentralized protocol suite built on top of Troy’s Blockchain. More specifically, the structure and The solution that Troy Network uses includes 4 layers:
- Layer 1 (Layer 1): This is the class that creates security for the system and is called the public chain.
- Layer 2 (Layer 2): This class is used to speed up transactions and is called Offchain.
- 3rd layer (Layer 3): This is the network used to transact and interact with all applications.
Thus, with this model, it is possible to transact with centralized trading platforms and still ensure the security and speed of transactions, but also ensure the liquidity in accordance with the needs of users.
What problem was the Troy Network project born to solve?
According to Troy NetworkThere are a lot of problems right now with CEX (centralized) and DEX (decentralized) floors. In more detail, CHK will list some of the problems faced by CEX (Centralized exchange) exchanges as outlined by Troy Network:
- Poor security: This must be an age-old issue for users of an exchange that, once KYC has been provided as well as sufficient information is provided to the exchange, when the exchange is attacked, everything is related to assets and fish information. Your kernel is in danger even if people don’t do anything wrong …
- Easily manipulated: The “sharks”, “whales” of the floor can easily manipulate prices up or down depending on the purpose
- Users “passively” with their assets: The fact that you deposit into the floor means that you have put full confidence in the floor. Suppose that the dump price is very strong that night, you know it and you log in to close your loss or close the short, however, the floor suddenly locks. The real side is definitely never the floor!
- Fake traffic flow: This happens very often …
As for decentralized exchanges (DEXs), they will no longer encounter the aforementioned cases of the CEX. However, DEX also has some shortcomings:
- Unstable transaction speed: Because it is a transaction between wallets on Blockchain, sometimes it will be fast if there are not many transactions, sometimes it will be slow if the network is congested due to many transactions.
- Bad user experience: In fact, since users are so accustomed to using centralized exchanges, switching to decentralized exchanges will be a pretty layered hurdle for users.
- Simple trading tools, few options for traders. Mainly the Limit Order and Market Order.
- Liquidity is not high: As I said, the transaction speed is not stable, so the liquidity is not high and even low. So the transactions on the floor are mostly small.
- There is no OTC for users to cash out
So, Troy Network was born with the aim of combining the functional advantages of DEX and CEX Using layers 1 and 2 as above I mentioned (Layer 1 is secure and distributed, Layer 2 is the transaction speed). With Settlement Network, Troy Trade user’s trading orders can match orders from the project’s partner exchange. Cross-chain feature can support different Blockchain cross-chain transactions together
As such, Troy Network can help mitigate the risks of hard-forked blockchains and remove the blockchain scalability barriers of DEX exchanges.
Troy Services
- Master-Level Trading Platform
- Diversified Brokerage Service
- Sophisticated Data Analysis
- Full-Stack Quantitative Solutions
What is TROY Token?
TROY is a form of Utility Token, a native token in the project ecosystem. TROY is an ERC-20 token and is built and developed on the basis of the Ethereum Blockchain.
In the project’s ecosystem, users can use TROY to pay transaction fees, Staking and unlock features in Troy Trade.
As of the time of writing, TROY is still an ERC-20 token, however the development team has planned to Mainnet and switched to using its own Blockchain in Q3 / 2020.
I will talk about the use of TROY tokens below.
What is TROY Token used for?
As I said above, TROY plays an operational role in Troy Network’s ecosystem, here are some of TROY’s roles in the ecosystem:
- Operating the TROY Network ecosystem.
- Used as a reward for Relayer Network to promote fast, timely and accurate transactions.
- Used to make transaction and payment costs.
- And is staked as a supernode for the Relayer network.
Brokers, Market Maker and Troy partner exchanges will update orders via the Relayer Network. Then Relayer Network will update the bridge commands to the Order book. Liquidity backer will provide capital for Market Maker and Broker.
Troy’s brokerage agents, Market Maker and partner exchange will update orders via Relayer. Network Relayer will then update the commands to the command book. Liquidity backer will provide capital for Market Maker and Brokerage Agency
TROY Token transaction fees
Currently, TROY is an ERC-20 token, so when you trade, you’ll have to pay a small portion of the fees for the Ethereum network to pay miners. TROY is not traded and circulated so there are no exchanges with TROY and if so you need to pay an additional fee for withdrawals at the exchange.
TROY Token Basic Information
- Ticker: TROY
- Blockchain: Ethereum (TGE)
- Token type: Ultility token (ERC-20)
- Total supply: 10,000,000,000 TROY
- Total circulation: 0 TROY (Currently TROY tokens are not officially circulated on the market). However in the near future TROY will be IEO on Binance Launchpad
- Initial circulating supply: 740,000,000 TROY (7.4% of total supply)
Distribute the TROY Token
Estimated TROY Token issue schedule
Token Sale TROY Token
Soon TROY will be IEO on Binance Launchpad and below will be some important information you need to know before TROY is IEO:
- Launchpad Hard Cap: 4,000,000 USD
- Total tokens allocated to Binance Launchpad: 800,000,000 TROY (8% of total token supply)
- Method of sale: Lottery & Airdrop
- Maximum number of winning lottery tickets: 20,000
- Allocation for each winning ticket: 200 USD (40,000 TROY)
- Total number of Airdrop codes: 40,000,000 TROY
- Support tokens to buy TROY: Only BNB
- TROY will only be released as BEP2 initially
- Public token sale price: 1 TROY = 0.005 USD (calculated by BNB prior to the draw date)
Timeline is eligible to join IEO TROY
- 7:00 a.m. on November 3, 2019 to 7:00 a.m. on December 3, 2019: Your balance will be screenshot again during this time period. The average daily balance (captured) over the above 30 days will determine how many tickets you can receive.
- 13:00 on December 3, 2019: The above eligible users can receive tickets within 24 hours. At the same time, you must also sign a One-Time Purchase Agreement, prior to completing the ticket request (1 time only).
- 13:00 on December 4, 2019: End of ticket collection request and start of lottery.
- 15:00 on December 4, 2019: The winning ticket will be announced and the corresponding BNB will be automatically deducted from the winning user’s account. Please ensure that you have enough BNB in your account so that the system can automatically deduct within 24 hours if you have a winning ticket.
- After 15:00 on 04/12/2019 the TROY airdrop will be distributed to the unsuccessful tickets.
Note: I have calculated Vietnam time for your convenience!
Below are the number of tickets received according to each BNB average balance that you Hodl in your account:
Current TROY Token prices
As it is not yet in circulation, TROY Token still does not have an exact market price. CHK will update later.
How to earn and own TROY Token
People can own TROY tokens in the following ways:
- Become the Relayer to get the TROY rewards.
- Stake TROY to make a supernode and get the TROY reward.
- Or buy directly in the IEO on Binance Launchpad or after the token is listed.
How to mine TROY Token?
TROY tokens can only be staked in the Relayer network, not a POS mechanism like BTC or ETH.
TROY Token storage wallet
Because TROY is an ERC-20 token, people can store it at any wallet that supports ERC such as: Metamask, Mycrypto, Myetherwallet, Trust Wallet,…. Besides, there are some hardware wallets such as Ledger, Trezor. Alternatively, you can host it on the TROY support platform (coming up to Binance).
TROY Token exchange
As of now, TROY is not traded on the market yet, however, after the IEO on Binance Launchpad, TROY will be traded on Binance.
Roadmap
Below is the Roadmap of the project according to CHK
TROY’s development team and advisors
TROY’s future and should you invest TROY?
As above I mentioned and talked about the combination of layers like 1 and 2 to upgrade the speed as well as increase the security of the floors. In general, this is a rather risky direction because there are quite a few projects going in the same direction, but so far none of the projects have been really successful.
The TROY Token is used for Staking purposes in the Relayer network and also for paying transaction fees at Troy Trade. And this means that if the Troy Trade platform attracts a large number of users, the demand for TROY will increase. When the number of transactions as much, the supernodes of Relayer must grow, the more it increases to meet that transaction volume, so the demand for TROY will be very high.
As for investment, I would like to give some objective opinions about the project, so I hope everyone will learn more by themselves and give their own views to make the right investment decision.
Currently, Troy Trade has been launched and users can trade at partner exchanges such as Binance, Huobi, BitMEX … With the partner exchanges which are all large exchanges with decentralized platforms, then if the transaction volume of TROY Network becomes large, this will help TROY token be used more to pay transaction fees. The highlight of Troy Network is the ability to combine the features of the DEX & CEX exchange and the TROY Token is the unit of money used throughout that ecosystem. In my opinion, this is a pretty good point!
summary
Through the article about Troy Network, CHK hopes everyone will have an overview of this project. All opinions and information in the article are objective opinions and CHK research as well as research, all investment decisions are yours. Good luck!
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