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The Tron based IGG token gets withdrawn from Tronscan DEX

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Intergalactic Gaming Gold (IGG) announced earlier that its Tron-based token has been officially withdrawn from Tronscan’s decentralized cryptocurrency exchange. This move follows the need to migrate the token from TRC-10 technology to TRC-20 (both are based on Tron’s protocols).

The IGG token is currently TRC-10 and it’s been traded on the Bancor protocol based decentralized exchange for more than a month. That exchange tends to be a little volatile, which is something the project wants to avoid.

IGG is in alpha stage for its testnet v1.0, which is quite advanced, and the next step in the way is to turn IGG into a TRC-20 token. Said token will be listed on TRXMarket which is an Order Book style kind of thing. The TRXMarket listing costs nothing but it has the advantage to make the token’s economics a lot more liquid.

So what’s the difference between a TRC-10 and a TRC-20 token, I hear you ask? Well, it’s all about flexibility and functionality. TRC-10 tokens are not that flexible nor functional, while TRC-20 tokens are standard resources in the Tron blockchain for smart contracts and they can be implemented via de Tron Virtual Machine (TVM).

Those features are essential if IGG’s vision for a tokenized standard in the online gaming industry is going to work at all. The token is meant to satisfy several use cases, and in most of them, being able to comply with a smart contract between platform users is crucial.

This is a pivotal time in IGG’s journey, and the project feels this is the moment to affect the migration towards a TRC-20. As mentioned above, that will enable the token to be deployed in smart contracts for users (which in this case are players). The players will be able to establish teams on the Tron blockchain quickly, instead of migrating once the teams are settled. And it will also allow for a freeze feature, among many others.

Besides improved functionality and use cases, the migration gives the IG project the opportunity to do a little marketing by rebranding the token that makes the IGGalaxy move. There’s a list of potential names at the project’s website for community members to cast a vote and suggest what the new token’s name should be.

The new name is already chosen and if your entry wins you’ll get a million tokens. You can join the competition by sending an email to competitions@iggalaxy.com

The developing team is currently working on a script that will enable Glacticians to send their IGG to a wallet that will send them the new TRC-20 tokens back, on a 1:1 basis. The new token will be ready and functional in about 24 hours and thus will the swap process begin.

It’s important for users to know that the SR rewards and Loyalty rewards for IGG will be suspended until further notice. TRX rewards will, however, remain functional. But the suspended rewards will be backdated and honored once the new token is ready.

If you want to get official instructions for swapping tokens, just visit the project’s website, where you’ll find all the information you need. In the meantime, we suggest you be patient and prudent.

Image courtesy of PixaBay.

Green Flag, Red Flag: Tips to Evaluate a TRON ICO

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The simple saying ‘Better safe than sorry’ takes a lot of precedences these days when it comes to choosing an ICO to invest within the TRON ecosystem. We have witnessed an astronomical growth regarding transactions being handled by the TRON network, a lot of credit for that goes to the SRs and the projects running on TRON protocol.

In a short span of time, we have seen close to 1600+ tokens being launched using the TRC10 protocol which is also helping a lot in terms of enhancing the usage. Most of these tokens trade only using TRX pair, ICO purchase is also through TRX only.

All these are helping TRON eventually hold its ground in this bear market and also promises for a prosperous future as a lot of these projects gets into mainstream usage. TRON (TRX) has made the token creation process super simple and almost free with the cost of token creation being just 1024 TRX. This is helping a lot of projects which had an idea but lacked access to funds and resources to launch their projects.

Having said this, there is a flip side to it; low entry barriers are also allowing a lot of ‘scamsters’ get into the system. They are creating tokens with the intent to exit scam at some point of time and escape with the investor’s fund.

Lack of regulation in this domain makes it all the more difficult for you to recover your funds once lost. The objective of this article is to assist you with 10 pointers which will help you evaluate a project and make an informed decision. Our humble request to all of you reading this article is not to gamble/speculate when it comes to ICO investments.

Success takes time; hence legit projects will take time, but the ROI will be phenomenal. Becoming millionaire overnight is a myth, it takes a lot of patience, perseverance, and knowledge to sail through this roller-coaster ride and achieve your financial goals. So be smart and choose wisely.

In this article we use a simple strategy to evaluate a project – Green Flag means the project is good to invest, the Red flag means we need to avoid investing in it. So here are our 10 pointers to conduct an essential evaluation of a project:

Product

This is the heart of any business. GREEN flag goes to the project which has a working or planned product, a clear use-case, has plans to launch BETA versions. Also, you need to evaluate if using blockchain actually makes it viable and useful.

RED flag a project which has vague or undefined use-case or is too simple that every kid off the blocks is doing it. Simple tipping/meme tokens are classic examples of this where you need to carefully access the usability and how the project differentiates itself from other off the mill projects.

Few note-worthy projects which can be given green flag on this aspect are – IGG, CyberTron, TronWatchMarket, TronWeeklyJournal, SEED, WIN, BeatzCoin, GEMS, Book.

Team

This is again one of the most important aspects to access a project. A team which is not public has a higher probability of pulling off an exit scam. The blockchain is about transparency, and if the unit itself is not transparent, then it’s a big RED flag. So look out if the project has a team, who are the developers, advisors, marketers.

Does the team has public profiles visible on the portal, do they have previous business / ICO / blockchain experience. Is the project happy to post the photographs of the team on the official website? Give it a RED flag if you don’t find these basic information, give a GREEN flag if the results of your finding are satisfactory.

Few projects which score green here are – TRWJ (Tron Weekly now), IGG, KsumNole, SEED.

Token supply and pricing

This is an excellent indicator to access the intent of the project. This differentiates the professionals from the noobs. A big RED flag goes to ICOs which creates ridiculously high supply which runs into thousands of billions/trillions with an absurd ICO price on www.tronscan.org ranging from 0.1 to 50 TRX for each token.

If you do simple mathematics you will realize that we will run out of all the TRX available and still the ICO will not be 100% sold, which means the creator doesn’t even intend to achieve full ICO sale, a clear exit strategy. If you observe this RED flag then immediately drop the idea of investing in that project as high chances you are dealing with a scam or a noob and both are not good for your investments.

GREEN flag goes to projects which if 100% sold at the ICO price covers only a small percentage of TRX supply thus leaving enough space for its value to grow and give good ROI to early investors.

White paper and website

These are the first impression of the project and again are a big differentiator between professionals and new kids of the block. Give a GREEN flag to a project which has a detailed whitepaper and website which clearly explains the project, product, use case, roadmap, key benefits, token distribution allocation, etc.

A RED flag goes to projects which either do not have these ready or it’s just for namesake. A project should have this basic stuff ready before they venture out to garner funds from the public.

Social Media

In the digital space, social media is the strongest tool available to create a huge global customer base. A legit team will strongly invest a lot of time and energy to build up their social media presence.

Give a GREEN flag to the project which is active on most of the social media channels like Twitter, Telegram, Reddit, Medium, Facebook, Instagram, Slack, etc. A RED flag goes to projects which create it for namesake and do not actually use it to build the community or engage proactively.

Communication of the team

The communication by the community managers and teams are a good indicator of accessing the true intent of the top bosses. Check if the community managers are engaging with the community to build relationships with them and spread awareness about the project, developments, future plans or are they just trying to hard sell the ICO.

Also, transparency of the community managers goes a long way in establishing the trust for the project. Give a GREEN flag where the admins are real and transparent, their social media profiles are matching in different platforms (i.e. they are the same person in the telegram, twitter, facebook, linkedin, Instagram, etc.) and they are actively involved in spreading knowledge and awareness.

Give RED flag to the admins whose real identity you cannot access. Real people who believe into an idea/project and are entrusted with the task of promoting it will never be required to hide their identity.

Pre-mine and freeze

A legit ICO will have a clearly defined roadmap for token release and distribution. GREEN flag goes to projects which follow their roadmap and keep the un-utilized tokens frozen as defined.

RED flag for projects which put 100% of supply into circulation and trade on day one itself, high chances they just want to sell whatever they can before they pull the plug.

Market size and potential

Give a GREEN flag to the project which has identified a niche market and are leveraging blockchain to create a global customer base. Typically products which have a global use case, sizeable customers already spending money in that domain( which will shift to blockchain over a period of time) are good green flag indicators.

RED flag for the projects which hardly has any existing or future market because the use case is vague or non-practical.

Community

Communicating with the community can give you a lot of indications about the project. Give GREEN flag to a project where the community is loyal and knowledgeable; they vouch for the product and the team, discussions in the group is constructive and project-centric. A RED flag where the community is not aware of the project as high chances they were just bought or are bots.

Commitment

This parameter kicks in a little later but still helps in safeguarding your money from becoming ZERO. Give a GREEN flag to the team that values responsibilities and delivers on time – be it a product release, partnerships, merchant onboarding, events, commitments to investors, etc. Vice-a-versa for teams which frequently backs out from their own words.

Apart from these also be cautious about the fake/counterfeit tokens which almost look real to the legit tokens except for a small change in the alphabets. It is advisable to buy your tokens from legit exchanges / tronscan link shared by the project officials / from the official telegram channel of the project. You are venturing into risky domain when you enter private sale groups having low control over the fake tokens.

Very few things in the world are perfect, but we need to aspire towards perfection on a daily basis. So after evaluating a project on above parameters if a project scores 8-10 it could be considered safe, any score below five should definitely be skipped for the time being till the team proves it another way around.

Due diligence and a little time investment can go a long way in not only safeguarding your money but also to give you phenomenally high ROI in the long run. It’s just a hunt to avoid garbage and fill your bags with gold.

Hope all of you create massive wealth in years to come. Happy Investing!

Image courtesy of Pixabay.

Top 3 Tron (TRX)-based coins everyone needs to keep an eye on

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Tron’s blockchain and Main Net allows you to issue your own TRC-20 cryptocurrency very easily. It’s probably easier than it was to do on the Ethereum network (Tron’s Tronix itself started as an ETH-20 based currency) and people and organizations are taking advantage of this feature. Let’s have a look at the three biggest Tron-based coins right now.

IGG

Intergalactic Gold (IGG) is issued by Intergalactic Gaming, an organization that’s looking to become one of Tron’s Super Representatives (in fact, they already are now). The project’s aim is to use the Tron blockchain to decentralize online gaming all over the world and to use the IGG token as a means of exchange between users and players.

The online gaming platforms have spawned real economic activity as the most enthusiastic players get some of the most exotic items in each game and then trade them or sell them to other enthusiasts who are willing to pay for them.

If Intergalactic Gaming has its way, this trades will happen in the future by means of IGG. So this is not a token that’s meant to pay for your cigarettes or your beer, but to stay 100% digital, within the video gaming communities of the world.

It’s the top Tron-based token by market capitalization at $121,213.6 USD, it costs $0.0008817 and the supply is of roughly 50 billion.

TronWeeklyJournal (TRWJ)

Our site, the Tron Weekly Journal is a news outlet mainly focused on Tron. As our Facebook page notes,

“Tron Weekly Journal (Tron Weekly) is an endeavor to bring all Tron world news under one umbrella. All latest events, happenings, ICOs, business ideations, interviews of ideators and entrepreneurs, and every activity in the world of Tron will now be available under one unified online journal called the Tron Weekly Journal. While there has been immense churn and activity in the world of Tron, there is no centralized portal or information pool where a new initiator or Tron enthusiast can gather necessary information, be part of a Tron network and connect with other Tron enthusiasts and investors.”

The Journal spreads the news through all the usual social networks and the main website (tronweekly.com) and it also issues its own token, TRWJ. The token’s purpose is to reward content creators and to carry out advertisement, promotion and other similar tasks relative to publishing.

TronWallet

The third asset we’d like to list is called TronWallet (TWX). It’s capitalized at $126,084,554, costs $0.0042028, and the total supply will be of nearly 30 billion of which half are in circulation currently.

TronWallet is an app available for both Android and iPhones. It’s a crypto wallet and exchange for Tron users. It’s an open-source project that puts emphasis on security and usability.

According to the project’s website, the coin’s purpose is to be,

“used inside the TronWallet Autonomous Exchange. TWX will enable token holders to swap tokens and run Dapps on top of TronWallet and its sdk’s (software developer’s kit). It will enable users to connect into a hub and execute instant purchases of tokens directly through smart contracts, at a price that is continuously recalculated. An unstoppable autonomous exchange and liquidity network.”

Image courtesy of Pixabay.

Why you should follow Tron (TRX)-based Intergalactic Gaming this week

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Tron is among a few blockchain projects that aim to take internet games to the next level, whereas, online gaming has been growing immensely for years. When you use games like FIFA or Minecraft to play online, you’re not playing against your own computer or console anymore, but against many other aficionados.

And in most of these platforms reward players with tokens, exotic items and many other things depending on how well they play the game or how much time they spend playing it. The gaming industry has created a gaming economy, in every sense of the word. You can sell or buy the most expensive items in places like eBay. Yet, nobody has tried to bring this whole new economy together into a single platform (and make no mistake, this is a real economy).

That’s when Intergalactic Gaming comes in. It’s a blockchain platform that runs over Tron‘s Main Net that aims to digitalize and tokenize the aforementioned competitive gaming economy. The project includes a token called Intergalactic Gold (IGG) which is also based on Tron’s token technology (TR-20). The point of the token is for gamers to exchange value and increase interactions (for instance, not to use eBay or other third-parties to trade in valuable items).

IGG’s initial ICO happened on Tronscan last August 3rd. The basic ideas you need to understand is that the total supply will be of 50 billion which is a number designed to guarantee scarcity (thus, value) and liquidity at the same time.

This tension between the two things will be what will make the token’s value, according to the laws of supply and demand. That basic economics, combined with real-world use cases will promote the token’s adoption and make it worth ‘hodling.’

That is not as weird as it sounds if you take into account that more than 2.2 billion people play online games all over the world. Even sports tv companies such as ESPN are starting to cover e-sporting events.

Among those who could find the IGG token useful are: professional gamers, brands, teams, gamers, and the gaming industry which is always trying to find new ways to make new and old gamers interested in current and new games.

The initial offering was of 10 billion, not including community rewards and airdrops. The rest of the currency will be frozen for three months at least.

Tron and Intergalactic are a match made in heaven because they both share the great ambition to bring blockchain technology into the “ordinary” uses most people give to the internet (through either web or game decentralization, respectively), young leadership and a young vision.

The current week will be transcendental for Intergalactic, the company, and IGG, the token.

First of all, Intergalactic will be launching its candidacy to become a Tron Super Representative, which it could achieve if it can gather enough votes from its gaming users. If it should win a spot, their voice and vote would become very relevant within the Tron community.

Second, a move to Manchester has been on the works for some time now. Next week the new Intergalactic’s Manchester office will open for business.

Third, the next airdrop will happen between November 23th and 25th.

There’s still some skepticism about the IGG token. Some observers consider it to be too specialized and are distrustful of real use cases. These observers clearly don’t play online games at all. But in the worst case scenario, you can always exchange your IGG coins for TRX. It’s too early to asses if IGG will be a success. But it’s also too early to think it will fail for sure.

Image courtesy of Kanenori/PixaBay