Recap of the Torum AMA with Blockchain Space

On Thursday, May 20th, we had the pleasure to welcome to our Telegram chat:

Jayson Tan, The Co-founder & CMO of Torum.

We asked him questions about the development of Torum.

INTRODUCTION

Q~ Introduce yourself and your role in Torum to our community?

A~ I am Jayson Tan, the Co-founder & CMO of Torum. I am doing all the marketing works for Torum, including partnership, community building, growth hacking, etc.

I started my journey in the crypto space back in 2017 where I made a lot of money in the bull run.

After that, I hope to build a project that can add value to the community and industry. That’s how I met my childhood buddies and together, we founded Torum.

Q~ Tell us about Torum’s core background and how does Torum plan to solve blockchain problems?

A~ First of all, Torum is the world’s first DeFi + NFT social media platform that is specially designed for cryptocurrency users. It was launched back on the 1st of July 2020 and fast forward to this day, it has accumulated over 46,000 registered users and recorded a consistent double-digit average monthly user growth rate.

We have a team of 24 personnels and operates on a distributed method like Binance. Our team can be found in Malaysia, India and Turkey, with half of them are developers who work on Dev Ops, server management, app development, blockchain deployment, etc.

Torum is designed to solve three unique problems faced by the community, projects and industry respectively.

Community

Before Torum, we will need to find the relevant Telegram groups and Twitter profiles to get these connections. With a Torum account, you can straight away connect to a global network of cryptocurrency users in a single click. So, Torum has helped everyone save the time and resources in finding the crypto enthusiasts.

Projects

Generally, cryptocurrency projects have to invest a significantly large amount of money into marketing and brand exposure (PR, events). With Torum, projects can straight away build their marketing presence cost-effectively because every user on Torum is a cryptocurrency enthusiast. So, Torum offers projects a much cheaper alternative to achieve the most cost-effective exposure.

Industry

Previously, the information and knowledge in the crypto space were not shared equally and efficiently among the cryptocurrency community, which has led to the situation where communities are constantly exposed to the risk of scams and pyramid schemes. By connecting every cryptocurrency user and project together, everyone can enjoy a fast and efficient flow of the latest crypto information on Torum, which also means that there is going to be less scams in the space because of more educated communities.

Here’s the Home section of Torum product screenshot

Q~ Elaborate on the utility of $XTM token and share with us $XTM tokenomics?

A~ Utility is something Torum really emphasizes because we are going for the long game here. So, we have at least 10 ways on how the community can use our native token, XTM. For example, you can purchase crypto-themed gifts on Torum and send it to any person you like on the platform.

In the near future, we are going to launch Torum NFT marketplace and Torum Finance, where XTM will be the primary medium of exchange powering the two decentralized applications. We can trade and list NFTs on the NFT marketplace and use XTM for staking on Torum Finance.

There are more utilities coming up like bidding for ads slots with XTM or boosting your content on Torum social media with XTM. Here are the full list of XTM token utility:

Cassiterite : That’s a long useful list

Jayson : That guarantee the long-term utility value for XTM and gives everyone way more reason to HODL $XTM.

For tokenomics, please have a look at this image

Q~ Who are your partners in the crypto game, do plan to have more partnerships any time soon?

A~ Torum is proud to be partnering with some of the most influential top tier projects that are shaping the crypto industry together with us.

These includes:

  • MantraDAO, a community-governed DeFi platform for staking & lending
  • Poly Network, a cross-chain interoperability protocol
  • Kylin Network, a Polkadot-based data infrastructure for DeFi and Web 3.0
  • Darkpool Liquidity, a two-times winner of Binance API competition that provides market making and liquidity provider services.

Of course, there are many others that are awaiting to be announced in the near future. We are just waiting for the perfect timing to make the announcements.

Q~ What progression is Torum presently making, let’s us know about your current roadmap?

A~ Recently, we have two major funding milestones

Back in April 2021, we have completed a $1.5M private round investment that is participated by a total of 20 prominent crypto strategic investors, including AU21, DFG, Consensus Lab, M6, Waterdrip Capital, Lotus Capital, Ceras Venture, Chain Capital, Oasis Capital, Redlin Capital, Hotbit, Blockhunter Capital, Ticker Capital, BKEX, Angle One, AIDOC Capital, Crypto Planet and N7 Labs.
On 11th May 2021, we organized the world’s first Initial Staking NFT Offering event and sold off $240,000 worth of NFTs in under 20 minutes.

In the coming end of May, we will be organizing a tri-launch IDO event concurrently with 3 launchpads. One of them is Zendit of MantraDAO and the remaining two IDO platforms shall be announced in the next few days.

For an overview of Torum’s roadmap, please refer to this image

Cassiterite : Can we get links and more details about the IDO?

Jayson : So far, there is no official announcement on that, but what I can share is that the IDO event has over $300K worth of XTM for grab at a price of $0.08. So, you better join our community and stay tuned to our official announcements.

This is the IDO event that you can’t afford to miss 🚀

QUESTIONS FROM TELEGRAM

Q~ How efficient is TORUM SECURITY, do you pass an AUDITs ALREADY, due to ongoing SCAM and RUGPULL rate, what measure to tackle this so we can feel secured using TORUM?

A~ Torum is a social media platform built on a hybrid decentralized model. This means that the platform will never use private keys, hence there is no need for an audit.

We have an 11 months old track record, where we grow the community bit by bit until the 46,000 members that we have today. Suffice to say that, rugpulling and scam will never happen, in fact, Torum was founded to kill rugpulls and scam.

Q~ Concerning your Initial staking NFT offering (ISNO). I would like to know why your NFT is grouped into tiers and what is the main difference between each tier?

A~ The Tiers are involved to provide scarcity and limited edition value to the NFTs’ holders. The higher the tier, the lower the supply. This makes the Tier 5 NFT to be super rare as there are only 3 persons in the world that can have it.

Imagine when Torum has a million users. What will be the value for a Tier 5 NFT? 🤑

Q~ What aspects must be highlighted to make a mark in your community? What do you think makes them have good references in the community?

A~ Torum is designed for cryptocurrency users, which makes it super different from other social projects in the space. We are not looking to capture the general market but only cryptocurrency users and projects.

Q~ On the 9th of May, Torum announced the world first initial STAKING NFT offering event? How important is this event to the cryptocurrency market and what makes it special?

A~ It is special because it is the world’s first kind of event and it involves combining the concept of DeFi. + NFT + public sale together, something which is never done before.

And Torum is the first project to do it.

Q~ Can you tell us what drives your project to be among the best?

A~

1. Over 46,000 users

2. A total of 20 prominent crypto VCs backing the project

3. Multiple Tier 1 project partnerships

4. Have over $3M funds to survive the next crypto winter

5. A product that serves true purpose and value, without hype.

CONCLUSION

Be sure to check out Torum. You will be hearing more about us on all social channels

Website — https://www.torum.com/

Sign up a Torum account — https://www.torum.com/signup

Torum Finance — https://defi.torum.com/

Telegram Group — https://t.me/torum_official_group_en

Telegram Channel — https://t.me/torum_official

Twitter — https://twitter.com/torum_official

Linkedin — https://www.linkedin.com/company/torum

Medium — https://medium.com/torum-official

It’s really nice having the
Torum project in here!!!

You can check out their Website for more details. You can also follow them on Telegram and Twitter to keep up to date with all things relating to Torum.

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