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I’m excited about today’s episode. I have Tin Saric as our guest here on the new to crypto podcast. Tin is the COO of Crypto Today, a community based platform that is… think of it as a decentralized CoinmarketCap. He’s also the founder of Bit X which helps integrate blockchain technology into existing digital segments of the economy and community Tin, Man. Thanks for coming out today. Welcome to the show.
Hi, Michael. Thank you for having me.
Absolutely. Can you just share a little bit about yourself with our listeners and maybe a little bit of your background in crypto before we dive in?
Yeah, of course. So I started as an investor, I bought Bitcoin in 2015… 16. I don’t really even remember, I was still in college. And I saw this idea of a completely decentralized economy that is not connected to today’s oligarchic structure. Let’s say it like this. And actually the most fascinating part that I saw in it was no, well, at least I saw it this way, it was essentially financial democracy for everyone. And this is the part that I instantly loved the most. And I started saving up some money while I was in college, everything that I could afford, so I can buy a bit of Bitcoin. And I sold a lot of it too early. I can definitely say I don’t have a landlord. But I sold it too early, because I was sure we were not going to go this high. But the whole concept stuck with me, you know, blockchain technology, what it can do. And I’m a programmer. So I finished university for programming, and I started looking into things like parts of blockchain, what we can do. And at some point, I noticed Ethereum and what Vitalik did. And at that moment, I just started thinking about smart contracts. Man, you can use it for so many things, for literally everything. And this is where I formed my idea about the company about Bit X. And this is how we started. And now we actually do programming for any sort of project, any company, any idea. We have a lot of developers that use three blockchain and even traditional programming. And me and my partners, we are three of us. We mostly focus on ideas, you know, concepts, new ways to implement crypto blockchain into today’s life. We are heavily focused on implementing blockchain into the real world. So our focus is not just doing something in the metaverse or something that is not really related to the real world. But really taking blockchain to every person to everyday use. This is what we want to do with every project.
Excellent. Excellent. I gotta agree with you. Isn’t it amazing to see how far crypto has come from, you know, like the 2015, 17 era that you were talking about to
Wow, where we are now, you know,
Wow… I’m amazed. It’s astonishing. Because when you look at the development of the internet, it was way slower. These kinds of evolutions didn’t didn’t really happen so fast. So crypto is kind of an accelerated internet thing, at least from my point of view.
Absolutely. So let’s segue into today’s episodes all about Crypto Today and you and your team’s project. Yeah. Can you tell us a little bit about what is Crypto Today?
Okay, so yeah, your description is really good. It’s basically a decentralized CoinMarketCap, CoinGecko coins, you know, research sites. But with a twist, we want it to be a DAO. So a community driven project that in the end, our vision is in the end, that can govern itself. So today, when you go to, I don’t know, CoinMarketCap, and you have a new project, so you worked hard, you have an idea, you need exposure, the only way you can get exposure is by getting yourself listed on some sites, CoinMarketCap, for instance, is a good site to get exposure. Because when you get listed on CoinMarketCap, you instantly get a lot of eyes on you. And usually, these projects that get listed get a lot of funding right away. And for a project that has a good idea, that’s really the most important part. The problem is that like all centralized things, there is one person or maybe two or three persons that hold all the power that can decide if you will get or will not get listed. And if you think about it, Blockchain as an idea does not really suit that style of thinking, the problem is I have worked on several good projects that just fell apart because they couldn’t get listed in time on CoinMarketCap, they burned through all of their cash, and they just stopped because they couldn’t get exposure.
And some projects that start off with a lot of capital behind them, but don’t really have a good idea or are basically just sh*t coins. If, if you know what I mean. They can just pay their way into listings and get exposure and get a lot of capital out of it. And this is, from my point of view, from our point of view, this is not a fair playing field. And the idea with Crypto Today is to take this decision about listing directly to the community directly to the voters. So it’s not up to us to decide who is going to get listed. It’s up to the voters, the token holders will research the project and say, Okay, we want this to be listed on the site, we want this to get exposure. And in the same way, the project wants to get listed on the site because they can get exposure with a well well educated, knowledgeable community who know about crypto who research projects every day, and who actually know what they’re talking about, and maybe maybe get some smart investors or oil investors or oil community something that good projects actually need.
Okay, so would you see, would you basically say that those are the major differences between say Crypto Today and CoinGecko and CoinMarketCap? Or would you say there’s other ones as well?
Yeah, we can go into specifics. But the main difference is this. Yeah, the main difference is we do not care if you are a project with $10 billion, or $10,000. We care if the community wants you and likes you. And we only care if the world goes through. Okay, we have some fail safe systems in place. So we can verify if the world was rigged, or maybe something. Yeah, you know, all the ways you can maybe trick the community or do something bad. But at the end of the day, we want to let it just happen automatically, people will come to research it and click yes or no to some information that they provided. And that is going to be written directly on the Ethereum chain. So everything is transparent. And in the end, yeah, truly decentralized.
Okay. And you mentioned the Dao structure. So, you know, this is called the new to crypto podcast, Dao, you know, some of our listeners are familiar with those. And some of them this may be an intro, or they may have heard it before, but maybe they don’t know so much about it. Can you just share with our audience, what a Dao is, and then how it tie into Crypto Today? For example?
Yeah, of course. So Dao is a decentralized autonomous organization. What it basically means is that by holding tokens, you are a participant in the organization and you get some rights. Depending on how the organization is structured. Your rights are then distributed in our Dao, a token holder is a voter. And for every decision a Dao makes, there is a vote. And if you are a token holder, you get your fair share of the world. Some Daos allow the votes to be a sum of tokens. So if you have more tokens, you have more votes.
With us, we are going to be a one wallet, one vote kind of Dao. So it doesn’t matter how many tokens you have. You are still one person and your one wallet address is actually your one vote. The one thing that we want to implement is a reward system for good data members, honest data members and correct members. So by voting correctly, every time you vote correctly, consecutively, you will get weighed in the system. So you will be a bigger part of the system to some degree. So we do not want some early investors or early voters to become just too powerful. But to some degree, we will allow it and if you are 100%, correct, let’s say 50 times in a row, you get to be an OG voter, which allows you some additional stuff like you can question about in process, let’s say, some shit coin comes to our site, they pass the voting system and they should be listed. You have a timespan where an OG voter can say, I’m questioning this, something is fishy. I do not like this. He can then ask questions about the project and wait for answers, then the vote is recast. We are then giving additional awards to the community to actually look at it again, see what the OG war voter actually wrote. And then we can have a new vote. So this is some additional feature that you can acquire by being very good.
Okay. I really like how you guys are structured your Dao actually, I like the one wallet, one vote, you know, you guys have really gone to some really good lengths to to make it fair and transparent. Thanks.
Yep. Yep, the first question that I actually asked the first day was, how do we get rid of whales? You know, there’s a lot of people today in crypto that got in too early and they have so much money. And basically, you just have to pay attention. Because if you don’t think about it, someone is going to buy up to 50% of the whole supply and just vote their way into everything that in this case, it is again centralized. Yeah,
I can definitely appreciate that. Let’s move into let’s let’s go into the process that a new listing will go through. So can you explain the process that new listings will go through with Crypto Today?
Yeah, of course. So, I mean, it’s fairly simple. You go to the site, and on the site, there will be get listed button, you know, you have to connect your wallet, you have to say get listed, and then you will just see simple form that will require some information about the project that these information are okay, probably for every for everyone who is a bit deeper in the crypto space, simple information. But for someone who is new, some of this information is a bit complicated. But basically what we require is the project to list all of the information there that is vital to check it. So contract address, ticker, I don’t know name, white paper gets hobbling stuff that someone with a bit of knowledge can actually check and see if everything that is written is also true. After you fill out all of the information, social media links and everything, also, of course, then you just have to stake a certain amount of list tokens, which are then being given to the community as a reward. So our idea is to just let the project’s themselves reward the community directly. So it’s like a Patreon system, you know, where the project that wants to get listed and get some exposure with people actually just rewards the people directly, you know, and they stake their tokens into the reward pool, there is a minimum, there is no maximum. So if any project wants to get more exposure, they can stake more tokens, we actually do not care about it, then the process is automatically started. 108 hours later at the most you’re being listed, the majority of the process is actually automated. So there should be some little things that we need to do by hand. But yeah, if we get enough funding, we hope to get everything fully automated. So we actually do not have to intervene ourselves or if we do have to, it’s really just in the one percentile space.
Okay. And you mentioned the list token, Can you unpack some details about you know, this was this is an introduction more than likely for our listeners. So, what is the list token? How does it work? Why is it there,
you know, so basically the list token like every Dao has a token that is the driving force The Dao for Crypto Today our token is list. And to be a participant of the Dow, you have to have some minimal amount of less tokens staked on the platform. At this moment, we still don’t know how much list tokens we are going to require. But we want it to be a really small amount. So everyone can participate. But not too small. So it’s practical for bots or something like this. So it has to cost something but not too much. And basically, by holding list tokens, you’re participating in the Dao, by holding list tokens, you’re not just participating in the votes for listings, we will actually have regular votes about structuring the whole project about changes that we want to do. And these changes are also also going to be a vote that every participant can make. So you always have two or three options, who wants to maybe develop next, and we will let the Dao decide what they want to see. So for instance, as soon as we get the chance, I hope we can get some NFT verification system. So we can also filter out NFT projects. I don’t know if I have some ideas about educational platforms, or maybe YouTubers, you know, influencers, how we can rate them, grade them on the system, which ones are actually truthful, which one talk about the tech, which ones are educational, these kinds of things. And when we come to it, the last decision with what we are going to develop and implement first, it’s going to come to the Dao, and they will vote upon it to get some rewards out of it. And yeah, we will work on it.
Awesome. I like the way you design that how many total list tokens are there going to be?
Yeah, it’s going to be a lot. It’s a 100 billion token supply, but we have a burn mechanic. So every time a bolt goes through some certain amount of tokens it is going to get burned. So deflationary tokenomics. And we wanted to have a bit more of the tokens. So we can just decide what’s enough and then burn it after we implement a lot of stuff that we want to do. And our treasury is fairly big, because we want to enable staking, maybe later and liquidity pools, we need a lot of it for a lot of liquidity on UniSwap. And I don’t know some other things I can’t remember all now.
And you mentioned deflationary and burn and just for some of our listeners that are familiar with what that is, can you just kind of give a you know, an overview? Yeah, of course.
So the burn mechanic that’s really popular in the last two years. This is a process where we actually destroy tokens. So when something happens that is written in the smart contract, a certain I don’t know a requirement is fulfilled, then a bird is burned is issued, and some tokens are basically destroyed, which means that the supply, so the number of all tokens that that are available becomes smaller each time this happens, in our case, adding new projects to the site will actually reduce the number of token tokens available. Why did we implement this? First of all, because I know that it’s something people in crypto love. Secondly, because it will probably enable first investors kind of security, you know, so they have some, like small security parts that their tokens are going to be valued more, at least in the sense of that there is going to be less of them available. So the price should not. I don’t know, sometimes it goes up sometimes it doesn’t know financial advice. But in the end, I know it’s today it’s risky to invest in any project that doesn’t have a product yet. So this is a way to give the investors some, like a small inkling of assurance that if they buy first, they will probably be in a better position than someone who is buying later.
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Okay, and I’m here in your white paper under rewards and fees, can you kind of break down some of the rewards how the fees work, and then you know, touch on the Treasury grants.
As I said, already, by participating in the Dao, you will always earn some rewards. So by being a good holder, you will get rewards by doing some other stuff, we have a lot of things, a lot of use cases that we want to implement, I cannot share yet everything because they forbade me to speak too much about it. But essentially, what we want to do is have an incentive system to actually reward every token holder who is a good, honest and regular participant in the whole process. And just reward him as much as we can. But yeah, of course, it’s a thin line of rewarding too much. And just enough. The fee system is actually I think I would say it is well described in the whitepaper when the whole graphic, I think you saw it if you go to the graphic under the token usage part, so all warning systems, this, this is actually the best explanation graphically speaking that we can do. So people can actually see what we are talking about. But there are basically two types of fees, the ones that are being implemented on to listeners. And once they’re being implemented on the waters, I want the voter fee, I wouldn’t call it exactly a fee, because it’s basically if you’re warning wrong, you’re going to lose the tokens. So taking this token is basically an insurance that you’re going to vote honestly. So if you’re not voting honestly, or losing tokens, essentially. So I wouldn’t call it a fee. I would call it a I don’t know, punishment, but it’s not really punishment. It’s just, yeah, you didn’t hold up to your end of the bargain type of thing, you know.
Okay, just a little side note for our listeners that the link for the whitepaper and all the links are on our blog post episode page. So if you want to follow along, all you have to do is head over there and click and then you’ll see what we’re looking at.
Yeah, I think it will be very helpful, just graphically seeing what is happening. The Lister fees are basically just direct rewards for the community. So let’s say I don’t know it’s Cardano wants to get listed on Crypto Today, and someone from the community wants it to get listed. They just have to go to our page, click on the list and stake this fee. You know, it’s a minimal amount, and they stake it. And that’s that, you know, and the fee goes directly to the community as a reward for their participation in the whole process. And for actually validating everything that is working
I like that.
Yeah. And yeah, the last part is probably through the Treasury grant part. This is basically more incentives for the community, we already know that we are going to implement a lot of other use cases that are not just listing projects. And we have to think about how we are going to reward people for verifying something… something where there is no payer, you know, where there is no Lister. And this is where the Treasury grants come into place. These are actually just parts of the Treasury that we want to have set aside. So when we implement certain mechanics, we have some reward system in place. And yeah, there will be competitions, governance votes, as I said, when we have a dowel vote about in which direction the project is going to go, we are going to reward the voters from the Treasury. And this will be held probably periodically, we will try to structure it. So every participant in the Dao knows that it’s going to happen, let’s say once in a month, you know, some big decision so everyone can participate. We tried to structure it in a way that we actually incentivize people to stay on the platform to be an active and well educated user, you know, to help further it more. That’s the whole idea behind our treasury grant structure.
Awesome Tin, Man. You guys have a lot of really creative ideas that you brought together with this project. Yeah, my hat. I just took my hat off to you and your team. And yeah, this is I’m excited to see, you know, everything rollout and 2022 with Crypto Today, can you share with all of the listeners a little bit about the roadmap for 2022? What to expect?
Yeah. The roadmap, when you look at it, at least from my point of view, it looks a bit thin, but it’s kind of on purpose. But yeah, we can go through it at this point, we are well above 90% of development done. So our smart contracts are already in the outer thing, prod process. Back end part is, I would say 90%. Done fronted is almost completely done, it looks quite nice. And basically, we are just finishing up some stuff. And thinking about maybe going to the test net and testing everything out. So this q1 is basically over, quarter two is the launch date after the token sale, so 15th of March. And we hope somewhere at the end of q2 to deliver the advanced coin analytics. So analytics specialists from my university are going to help us bring some interesting analytics to the platform. So it’s not just going to be statistics that you can find out anywhere, we will try to draw as much data from every graph, every coin, everything that we have from the markets and just show it to the token holders, as a special like little trading section or analysis section where you can come and just have some more data drawn out of the platform. This is still in the idea stage. The good part is that the idea is actually completely done. And we are just waiting to see if we have enough cash after the token sale to just start with, you know, quarter three, we are planning to roll out a lot of the gamification upgrades that we plan to have. So these types of things that I cannot yet say about how you save competitions will be introduced to the system, user profiles will get a lot more interesting. So users will have alarm, a lot of more stuff to see , stuff to show and a lot of more rewards to actually gain from the system. So this is something that we already have, like 70% developed, the final 30% are actually the part that costs the most. So also we are waiting to see if the token launch goes through so we can finish up with it. And q4 Yeah, basic iOS and Android apps.
And the best part that I’m really stoked about is the cross chain support implementation. So we have to enable not only Ethereum based wallets to connect with us, but also any other major chain. So Solana is going to be a part of it. Definitely Cardano. I mean, I’m a big supporter of Solana, just to be clear, Ethereum is clearly the best thing to start off this because with Ethereum, because the gas fees, it’s really unlikely someone is going to engage in bots, and this this kind of solutions, because it would just cost too much money to even try to rig a bot on Ethereum. If we did this on Solana, it would be a lot easier. And we would definitely have some, like people trying to do it if they would succeed, I don’t know. But the writing on the wall is that definitely Ethereum is for the chain part for writing everything on the chain. But we are definitely in the process of enabling cross chain support for everyone who comes from other chains. And they can also interact with the platform. Also, in the whole cross chain support implementation, we plan on enabling projects to not only stake list tokens in the reward pool, but also stake tokens from their own project so they can reward the community with their own tokens together with less tokens. And to do this good. You actually need support for every chain.
Wow, I like that last part that you just mentioned. Yeah, that’s, that’s
We have a lot more ideas like this. I’m actually very sad because I’m a person that wants to tell everything right away. And the guys at the project always say geez, man, you have to keep something down, because if you say everything at once people are going to expect us to deliver on this. And it’s completely impossible to do everything in, I don’t know, three months’ span. I mean, I’m realistic. I know this. But there’s going to be a lot of interesting things on the platform that I’m really excited about. And cross chain support is actually one of them. We have a lot of programmers in my company that are working on Solana that are working on Cardano on Ethereum. And yeah, this is going to be really exciting to see them all work together on the same project, because usually, they have to work on separate projects.
Absolutely not. I’m excited to see how everything unfolds and unpacks in 2022. Yeah, in closing, is there anything else you want to share? And also how can our listeners reach out and join your community? Is there a telegram? What are the preferred ways that everyone links for all of these are on our blog post page, by the way, but everyone wants to hear from you firsthand.
Yeah, our main channel is definitely the telegram group. So the telegram announcement channel, I would recommend everyone to just join the announcement group there, you will probably find everything that you need. We also have a discussion board, where you can join up and talk to our administrators. I am sometimes there answering questions about the project. And yeah, that’s the first stop. I would say first stop. The other stop is our webpage. You can find everything on it probably from the white paper to the to every other social media channel that we have. And yeah, I think that’s it. Stay decentralized, I would say.
Hi, awesome. Well, I’m already a member of your telegram group, tin. Man, we thank you for coming out today. And we welcome you back anytime. You and I were talking a little bit ago about maybe bringing you back and doing a YouTube video in the future here. Yes. rolled out, you know, yeah,
I will be glad to do it.
Awesome. Well, welcome you and hey, man, thanks for coming out. And we’ll talk to you soon.
Thank you, Michael. And have a nice day, man. Hey, you too,
As well. Until next time. Hey, I’d like today’s episode, definitely like and subscribe to the podcast. Show your support and chime in here tomorrow for another special episode. Until then, make it a great day.
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