TheRev, April 2017 (420 edition!)
Welcome back everyone, and happy 420! This issue of The Rev marks the third month of operation following the close of our ICO, and is accompanied by several large developments on the project. But first, a couple of fun facts about the 420 holiday:
- The term ‘420’ was reportedly coined by a group of high school students going by the name of the “Waldos,” in San Rafael, California in 1971 when they would meet up at 4:20 PM and search the hills of Marin for a hidden cannabis crop.
- Other suspected mythical origins, though largely inaccurate, include the following: 420 was the radio code used by California law enforcement to identify a cannabis crime, that there are 420 chemicals in the cannabis plant, and that 4:20 is tea time in Amsterdam.
- One of Bob Marley’s sons was born on April 20th
Product Development: Hemp (CBD) Recovery Bar
In the past month we have made steady progress on a line of cannabidiol (CBD) based products to be released this year. The first product line we are developing is Sport Canna, with a company mission to create products designed for active recovery containing high-quality ingredients, developed using evidence based science backing their efficacy. For example: preliminary evidence suggests that CBD has anti-inflammatory and potentially pain relieving qualities, hence its inclusion in our products. Of particular focus recently has been the development of a line of Sport Canna protein bars containing a healthy macronutrient breakdown (think high-protein, low-sugar). We are also developing a line of topical salves and lotions containing CBD, for use in treating muscle fatigue and aiding active recovery. We will soon be launching our site (along with corresponding social media) and begin online sales, with terrestrial retail distribution to follow. Below is a glimpse at a preliminary packaging mockup of our first protein bar (a peanut/cacao flavored, hemp based recovery bar).
Exchanges, Trading, Coin Listings, and Market Making
We obtained several key exchange and index listings this month, which is vital for both liquidity of the token, but also for the enhanced exposure these outlets provide:
Exchange: Bittrex.com | https://bittrex.com/Market/Index?MarketName=BTC-TKS
Exchange: Tidex.com | https://tidex.com/#/exchange/TKS_BTC
Index: Coin Market Cap | http://coinmarketcap.com/assets/tokes/
Index: Brave New Coin | https://bravenewcoin.com/Tokes#Trading-Pairs
The majority of the interest and trading volume on TKS has taken place at Bittrex, as Tidex continues to build their book of business. Our initial listing on Bittrex took place on March 22nd, where we saw a range of trading between a high of .00012500 BTC and a low of .00009003 BTC. Since trading inception, there has been a total transaction volume of 201.25 BTC, comprising 403,000 TKS. Average trading volume over the period is approximately 7.46 BTC per day, with our highest trading day equivalent to 57.21 BTC. Liquidity has been partially enhanced through our engagement with one institutional market maker to date, with several more scheduled to pick up trading in the near future. And finally, based on current pricing, the approximate average return for an ICO investor is 407% for the quarter!
In addition to progress on both tangible products and technology stack fronts, we’ve been putting together a plan for more aggressive marketing of the platform within the crypto ecosystem. Feedback and input from the community indicates that people familiar with our project are strong supporters, but we don’t yet have the broad exposure necessary to take us into the next tier of legitimacy. Some of the initiatives we’ve undertaken in this area include:
Podcasts and Interviews:
The Bitcoin Podcast – 03/26/2017: http://thebitcoinpodcast.com/episode-120/
BlockTalk Podcast – 4/20/2017: https://www.youtube.com/channel/UCpfB0lyoKDCKX8wZ7a-K-dw
Join us for the live BlockTalk podcast this evening at 8:00PM PST!
Enhanced Social Media Efforts:
We have ramped up our social media efforts, particularly in the Twitter and Instagram realms. Our following (@tokesplatform on either network) has been steadily growing since our inception, and we have actively been engaging with and reaching out to active cryptocurrency users across both ecosystems. Of note is a quickly growing following on Instagram, a medium not particularly known for cryptocurrency promotion. The fusion of cannabis and cryptocurrency however may have a broad appeal across this network and reach untouched demographics, a phenomenon that will be beneficial as we begin marketing efforts for our tangible product lines.
Still early in the project development phase, we are looking at running a second bounty program dedicated to higher quality content generation. This phase will not be based on simple social media posts, signature campaign, or translations like we ran during the ICO. The premise is that we will be working with people who are generating high quality content with a significant level of impressions. This should lead to less ‘waste’ in terms of payouts, and also reward those members who have been contributing to our success.
We have also been working closely with several of the more active members in our community (all from Slack) who reached out to offer enhanced support, including: coinking, mottsthoughts, gbdesai, and ksheik, who have provided services varying from marketing to support on backend development. As a small team with limited resources, the efforts of the broader community are greatly appreciated, and we would like to personally thank and recognize these individuals for their efforts. We look forward to hearing from anyone looking to take a more active role in the advancement of the Tokes Platform!
As Nevada is on target for July 1st to begin recreational cannabis sales, we have been actively networking and building relationships with Las Vegas based cannabis businesses. To this end, we have been a presence at meetings of the Las Vegas Marijuana Association, and keeping abreast of the ongoing changes to Nevada cannabis legislation.
Mobile Application and Technology Stack Development
Meanwhile, on the technology side of things, Minh has been making some great progress on the development of the mobile app. His primary focus is on wallet/transaction functionality, as that is the minimum requirement for us to initiate our efforts in industry adoption.
However, as a lean team, he has also been working on several other projects for us as well. In an effort to enhance and contribute to the broader Waves community, he has created more in-depth documentation on utilizing various features and components of the Waves software. The most recent example of this was a guide written to assist people build a Waves full node on a Windows machine. A link to the document can be found here: http://cannabisrevolution.us/files/WindowsWavesFullNodeTutorial.docx
We’re also excited to announce the near-completion of a Tokes faucet, which we anticipate will help garner additional followers to the project. The faucet will provide payments between .01-.05 TKS per hour, and will be initially funded from the ‘Founder’s Share’ units. Head on over to http://WeTakeTokes.com and take a toke on us.
That concludes another edition of TheRev. Stay tuned to the news section over the next few weeks, as we’ll have a couple updates regarding our new Roadmap, as well as TIPS 001 – Tokes Improvement Proposals – on the Reserve Account and a sample Inflation Schedule. We sincerely appreciate the overwhelmingly positive feedback we’ve been getting from the community, and love seeing the progression as this project blossoms. Until next time…
Here’s to something new. Here’s to the revolution.