Proposal Description
We would like to add the TUK token in Aada V1 as an asset for lending/borrowing.
Short Summary
A TRUE WEB3.0 MASS ADAPTION ENGINE: eTUKTUK is at the very core of the electric vehicle transition, sharing economy, e-mobility, active communities and web3.0 mass adoption.
- Approve
- Disapprove
Motivation
Who is posting the proposal?
eTUKTUK BD Team
Project and token overview
eTUKTUK is a Web3 company that has developed the world’s first automotive project built on Cardano. The charging network and fleet of eTukTuk electric vehicles is a pioneering transportation solution backed by the Sri Lankan Government, offering stakers and adopters the chance to take part in the rEVolution designed to reduce carbon emissions from the transportation sector. With on-chain payments, eTukTuk’s mission is designed to bring financial inclusion to billions of people across the globe.
WHY BLOCKCHAIN:
Blockchain provides the solution that powers the eTukTuk ecosystem in ways far superior to the infrastructure that currently exists in the developing world. The underpinning technology supports an expanded payment system for drivers; facilitating the utility of the TUK token that will allow for more efficient transactions and the decrease of wasted resources. Other benefits are:
Better Transparency
Enhanced Security
Improved Speed & Efficiency
Less Friction (Low Barriers for Entry)
True Traceability
Banking the unbanked
Digital Identity
eTukTuk PROVIDES:
Charging station infrastructure
eTukTuk electric vehicles
TukStation App
Power Staking
Decentralised Payment System with Fiat Onramps
Driver App (Q4 - 2023)
Passenger App (2024)
ACHIEVEMENTS:
Beta Product Ready: x.com
Developed phase 1 prototype vehicle
Developed phase 2 prototype vehicle
Secured Support From The Sri Lankan Government
Over 200 charging station locations were selected in collaboration with the Sri Lankan Government
Backing from the Mayor of Colombo
Collaboration with PickMe - Ride-Hailing Services
PARTNERS:
CARDANO
GOVERNMENT of SRI LANKA
ASIA TOKEN FUND
CAPITAL MAHARAJA GROUP
PICKME
CEYLON ELECTRICITY BOARD
BUSINESS MODEL:
1- E-TukTuk Sales & Rentals
2- Charging Income
2- Data Monetization
3- Ad Placement
MILESTONES:
1 - Community Growth: Bounty Programme for innovative engagement, ensuring exponential community growth.
2 - Partners: New Web2 & Web3 partners onboarded to propel seamless integration into initial territories.
3 - Launch: First territory launch in Sri Lanka.
4 - Manufacturing and assembly line launch.
5 - Charging station installations.
6 - New territory announced: Thailand as the second territory.
7 - 1000 eTukTuks on the road by 2024.
8 - # of eTukTuks on the road: 1. Year: 3K, 2. Year: 22K, 3. Year: 44k, 4. Year: 80k, 5. Year: 125k
9 - # of Charging Station: 1. Year: 250, 2. Year: 1250, 3. Year: 2500, 4. Year: 4000, 5. Year: 6000
10- Revenue From Stations: 1. Year: $ 2.156M, 2. Year: $15,8M,3. Year: $31,6M, 4. Year: $57.6M, 5. Year: $90M
Explain the positioning of the token in the Cardano ecosystem. How will it benefit the protocol?
Native Tokens: Unlike Ethereum, it is possible to interact with custom assets in a native way, without needing smart contracts. This is beneficial for simple token transactions, such as paying for charging using the TUK utility token.
Proof of Stake: The proof-of-stake (PoS) consensus protocol Ouroboros is a product of deep scientific research that has combined mathematics, game theory, and economic theory since 2017.
eTukTuk believes that PoS is more environmentally friendly than proof-of-work.
Smart Contracts
Staking rules and logic will be encoded into the smart contracts to be visible and transparent. These smart contract staking rules and logic will be automatic and do not require third-party interaction.
- Power Staking
- Charging Payments
- Global Settings
- Territory Settings
Applications
eTukTuk will look to develop two key front-facing apps, each focused on two of the major stakeholders in the ecosystem: Drivers and Passengers.
-
Driver App
In all territories, drivers will pay to charge their eTukTuk at charging stations. Payments will be taken through the Driver App using the TUK utility token and other selected currencies.
The Driver App will facilitate these payments through cryptocurrency exchanges and fiat onramps, meaning payments can effectively be made using crypto as well as fiat with automated conversion into the underlying TUK utility token. Anonymous and aggregated data will be collected on driver movement throughout the day – movements, queuing for chargers, charging time, speed, and more. -
Passenger App
After the network launches, eTukTuk will explore the development of a Passenger App to enable seamless and secure payments to drivers.
What’s the asset’s utility?
Rewards
There will be opportunities for all holders of the TUK utility token to earn rewards in ways that encourage maximum decentralisation and participation over a prolonged period.
Essential to the rollout of eTukTuk’s ZEVs, the EVSE (charging stations) will form the basis for transactions of the TUK utility token. This can be done by paying with TUK, and/or other supported currencies.
The ability for participants to earn a share of the transactions processed by charging stations in a Territory comes through the process of “Power Staking”. This is done by staking TUK tokens into the chosen Territory’s smart contract.
Smart contracts will be adjustable within Territories as required. When any new token or currency support is added, it will be programmed to incentivise network participants.
Both private and public sale participants will be given the opportunity to join an Early Rewards scheme prior to the launch of the network. A dedicated quantity of tokens has been allocated for this purpose.
Token Data
There will only ever be 2 billion TUK tokens in existence. Tokens will be issued as per a separate ‘Token Distribution’ document.
- For private sale participants, there will be a randomised release function. This will avoid large quantities of tokens being released on any single day.
- Partnership tokens will be allocated on a per-deal basis.
Tokenomics Distribution
Community Fund
Proposed percentage of total supply: 5.00%
Number of tokens: 100,000,000
Project Operations Fund
Proposed percentage of total supply: 22.60%
Number of tokens: 452,000,000
Team Allocation
Proposed percentage of total supply: 17.50%
Number of tokens: 350,000,000
Advisors
Proposed percentage of total supply: 5.00%
Number of tokens: 100,000,000
Partnerships
Proposed percentage of total supply: 8.00%
Number of tokens: 160,000,000
Early Rewards
Proposed percentage of total supply: 2.40%
Number of tokens: 48,000,000
Staking Rewards
Proposed percentage of total supply: 19.50%
Number of tokens: 390,000,000
Private Sale
Proposed percentage of total supply: 7.50%
Number of tokens: 150,000,000
Public Sale
Proposed percentage of total supply: 12.50%
Number of tokens: 250,000,000
