Comment on page
TC is a digital asset on the Avalanche blockchain, granting users access to our trading bot and services. It's 100% custom-coded, EVM compatible, and community-administered.
The Triple Confirmation Utility Token gives you access to our decentralized Trading Bot, Token Farm, and all other services we offer. The Utility of our TC Token will always be to operate, use, and enjoy all our decentralized or centralized services. But before we go into the specifics of our Token, we would like to inform you about the differences between Crypto Coins and Tokens, what a Utility Token is, and why the Triple Confirmation Token is not a Security (Token).
The Founders Allocation is subject to a 4 year and 2 months Vesting Period.
Our private sale offered the unique opportunity to vest accrued TC Tokens, unlocking bonus TC and NFT rewards. The scheme above illustrates the 4-year unlocking cycle, which commenced on July 26, 2023, detailing the token release trajectory. A total of 14,268,860.48269 TC are subject to the Vesting+ Schedule.
As a first step, it makes sense to differentiate coins from tokens. The general differentiation is that a coin is the base currency of a network, whereas a token is issued on top of a network. Using this definition, assets such as BTC, ETH, Cardano’s ADA, or Polkadot’s DOT could be classed as coins. By contrast, Uniswap’s UNI or Chainlink’s LINK are both tokens, as they exist as smart contracts on Ethereum.
Coins are generally limited in their functionality and behave similarly to fiat money. For example, ETH is used to pay for transactions on the Ethereum network and store value for those who hold it. However, ETH doesn’t carry out any additional functions within applications running on the Ethereum blockchain, aside from transaction payments.
A utility token offers a specific utility within a decentralized application. For example, the token may grant token holders the right to use the network, as is the case for Filecoin, which allows users to access decentralized file storage, or Axie Infinity, where the AXS token permits players to join the game. Utility tokens may also be used to confer loyalty benefits and rewards, another type of utility token is the governance token, which has become popular in decentralized finance. Governance tokens convey voting rights to token holders.
Our token complies with the UK's Financial Services and Markets Act 2000 (FSMA) as it doesn't qualify as a "specified investment." It solely provides access to Triple Confirmation project services without granting company ownership or income Our token complies with the UK's Financial Services and Markets Act 2000 (FSMA) as it doesn't qualify as a "specified investment." The TC Token is solely administered by the Triple Confirmation community and does not grant any ownership in Triple Confirmation LLP nor bestow unto its owner any entitlement to Triple Confirmation's LLP income. The TC Token is strictly intended to grant access to the available services of Triple Confirmation LLP. For example, the TC Token is required to access and use the TC Trading Bot. In the United Kingdom, Section 19 of the Financial Services and Markets Act 2000 (FSMA) states that a person must not carry on a regulated activity in the UK, or purport to do so, unless they are an authorised or exempt person. A regulated activity is a specified kind of activity that relates to a specified investment or property of any kind and is carried on by way of business in the UK (section 22, FSMA). We structured the token contract such that it would NOT qualify under any of the categories of “specified investment” under the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (SI 2001/544) (RAO), and therefore not be caught by the general prohibition in Section 19 of the FSMA. In this case, the TC token does not meet all of the criteria outlined by the FSMA and FCA and is therefore not a security.
Cryptocurrency trading involves substantial risk of loss and is not suitable for every investor. The valuation of cryptocurrencies may fluctuate, and, as a result, owners may lose their entire investment. The TC Token is especially not meant to be an investment; its purpose is purely to give you access to our services.
We have legal counsel in the UK. Our legal counsel has examined our ERC-20 TC Token and confirmed that it falls within the FCA's Utility Token category for cryptoassets.
Should you desire any further information, simply email us at [email protected]. Upon request, we can arrange to send a private note confirming that we have a legal opinion expressing that our TC Token falls within the Utility Token class of cryptoassets. Please note that we cannot disclose the legal opinion itself.
We are always in compliance with UK law and give our full support to furthering the development of common sense cryptoasset regulations. Sticking with our decentralised ethos, we never take custody of deposits and thus fall outside the financial custodian regulations. We also don't use the TC Token to represent any exchange value, thus falling outside the Exchange Token regulations.
TL;DR: Our TC Token is a Utility Token.