Tokocrypto (TKO) is a cryptocurrency operating on the BNB Smart Chain (BEP20) platform. It serves as the native utility token of Tokocrypto, an Indonesian crypto assets exchange company. Tokocrypto aims to bridge the gap between Indonesians and the crypto market, employing a hybrid token model that combines decentralized finance (DeFi) and centralized finance (CeFi).
Tokocrypto works on the Binance Smart Chain (BSC) using the BEP-20 protocol. It utilises the Proof of Staked Authority (PoSA) consensus mechanism, combining features of Proof of Stake (PoS) and Proof of Authority (PoA) to ensure transaction security and efficiency. The TKO token facilitates various use cases, such as smart contracts on BSC, trading with discounts, and participating in different financial programs within the Tokocrypto ecosystem.
Tokocrypto (TKO) has multiple use cases, including:
Tokocrypto was founded in 2018 by Pang Xue Kai to promote blockchain adoption in Indonesia. It became the first registered crypto trader in the country under BAPPEBTI. The platform was later acquired by Binance, which greatly expanded its capabilities. By early 2024, Tokocrypto had captured 43% of the Indonesian market with a significant user base. The platform has introduced initiatives like the TKO Foundation, launching TokoMall for NFTs, and active involvement in AI-based trading tools and blockchain project funding.