What is NTOK-X Ecosystem?
NTOK Ecosystem is a global decentralized block infrastructure for monetizing competencies, sharing experiences and raising funds for own development and training with the help of Personal Token Sale. Within the framework of the infrastructure, a personal token is provided by the user's time. Other users can purchase personal tokens, for resale or exchange for a time a Fundraiser token in order to obtain a certain type of service (for example, purchasing a tutor's time for training).
What kind of team is behind NTOK?
Our team members have a great experience in the online tutoring field that was acquired during the creation and testing of the Alpha version of the NTOK platform. This experience, combined with the vast subject area expertise of all the participants on our team, can enable us to create a platform that capitalizes on the enormous potential of the tutoring market, thereby helping to popularize the blockchain technology among both tutors and students.
What educational problems does NTOK solve?
We assume that in the target model, the ecosystem will allow users to receive and offer a wide range of services, from developing to designing (freelancing), consulting services (including with the possibility of per-minute charging), etc.
However for the launch of the initial version of the ecosystem, we singled out one service, the most important for the economy of the project, which will be available from the very beginning - the exchange of experience and knowledge.
First, the project team has invaluable competences in the field of online education.
Secondly, we already have a business model in the field of peer-to-peer education. Thirdly, the economy of the ecosystem is based on a steady increase in demand for Skill-Hours of ecosystem users, and sharing experiences with other users increases the level of Seeker competencies.
For the convenience of finding services from Expert and systematization of the ecosystem, we propose to set the following main areas of knowledge based on the most relevant educational topics. This is an open list that will be expanded and supplemented with the development of the system:
What is the difference between NTOK and others online educational platforms?
At the moment there are no direct, the more decentralized competitors of the NTOK ecosystem. We believe that for each of the four categories of roles, there are indirect alternatives. We can turn to similar markets, such as online education and student loans. The main competitors in the field of online education are the existing platforms, such as XuetangX, 17zuoye in China, Foxford in Russia.
In the field of crowdfunding we compete with both Kickstarter and traditional student loans.
In the field of freelancing - solutions such as Upwork.
The key difference is the use of blockchain technology and tokenization, which allows us to make our ecosystem more transparent, flexible and effective to any of the applications.
What is the practical use of NTOK?
How can I pay for NTOK tokens? How long does it take for the payment to arrive? What are the fees?
You can make a payment by transferring funds from any BTC, BCH, ETH, LTC, ETC, ZCASH, or DASH wallet, or in USD by wire transfer (wire transfer option available only for payments starting at $25,000). The funds are credited to your personal account in the system, from where you can pay for the amount of NTOK tokens you wish to buy.
We do not charge any fees on payments. However, third party payment processors may charge fees. When paying in USD, the wire transfer fee and its speed depends on your bank. All fees charged by financial institutions in connection with wire transfers are paid by the prospective NTOK token holders.
When paying in BTC, BCH, ETH, LTC, or DASH, transaction fee is charged by the relevant blockchain infrastructure. You set the transaction fee amount, and the transaction speed is determined by the network availability and the fee amount you set. Please read more about the transactions in the currency you’re going to use in order to avoid confusion and complications, before participating in the ICO.
Where to buy cryptocurrency?
You can buy Bitcoins:
You can also buy Ethers:
How to create an ETH wallet?
Since not everyone is familiar with Ethereum or cryptocurrencies in general, these are the basic instructions on how to set up a working eETH wallet
Select the option "Keystore File (UTC / JSON)", specify the path to the encrypted file (from step 2) and enter the password invented in step 1. If everything is correct, you will be on the screen of your wallet, you will see its address and balance.
Select Private Key. Here you will have to enter your unencrypted private address and password will not be required. This is a dangerous and unprotected way, the use of which we do not recommend! This key must be stored in a secure offline store and used only as a last resort.
After you have a wallet, to buy ether on exchanges and markets you just need to specify its number and make a purchase (on each site its own way). ETH will be transferred there.
Minimum purchase? Maximum purchase?
During the main stage of tokensale you can purchase 1 NTOK token as a minimum purchase. No individual max cap.
I deposited funds into my account but have not yet bought tokens. How can I get my money back?
Please send a request to email@example.com with a subject "Money back". Specify the email you used to sign up to Tokensale Platform, currency name and the amount you want to refund.
I already bought tokens but now I changed my mind. Can I get my money back?
A refund can only be issued before you buy tokens. As stated in our offer, all sales are final.
How to participate in Tutor Ninja ICO?
Follow the link https://tokensale.ntok.io/ create an account and follow the instructions in your personal account.
When does the ICO start and end?
The first stage of tokensale is planned to take place between March 16th, 2018 and April 15th, 2018. Tokens are expected to be distributed within 2-4 weeks after the ICO ends or earlier.
How many NTOK tokens will be sold during the ICO?
The maximum total token supply is 33 million NTOK tokens. The exact number of tokens generated depends on the amount of funds contributed. No token creation, minting or mining after the end of the ICO period.
— Public sale - 70%
— Management & Advisors - 20%
— NTOK platform reserve - 7%
— Bounty - 3%
To protect token holders from a sudden significant supply of NTOK tokens on exchanges following the ICO, and to create the appropriate incentive for the management and advisors to develop the NTOK platform, we have introduced the lock up provisions for the management and certain advisors.
Management Lock Up: The complete restriction on the sale of 100% of tokens until the launch of the Beta version of the NTOK platform or at the time of listing on a major exchange (whichever occurs later). As soon as the restriction on sale is lifted, only 10% of the tokens in lock up is released for potential sale at the end of each month
Advisors Lock Up (to the biggest possible extent): The complete restriction on the sale of 100% of tokens until the listing on a major exchange. As soon as the restriction on sale is lifted, only 10% of the tokens in lock up is released for potential sale at the end of each month.
How much 1 NTOK coin costs?
NTOK tokens will be issued during the ICO at an initial price of $ 1.00 each during the first week of the ICO. During the ICO price of NTOK tokens will grow every week, beginning after special conditions end:
— First week - $1.00
— Second week - $1.05
— Third week - $1.10
— Fourth week - $1.15
— Fifth week - $1.20
Which wallet should I use to purchase NTOK?
NTOK token is an Ethereum-based ERC-20 token. Token holders can easily store and manage their NTOK tokens using ERC-20 compatible wallets, including the official Ethereum wallet, Mist, MyEtherWallet or MetaMask . You can send funds from exchanges, but later if you decide to withdraw tokens from the platform, you would need to indicate your private ETH address. You can still buy using different cryptocurrencies but ERC-20 wallet is mandatory in order to receive tokens after the token sale.
Can I participate in NTOK ICO without creating an Ethereum address?
Yes. You can make a wire transfer in USD or in any other currency accessible on token sale platform. Create a personal account here https://tokensale.ntok.io/ choose USD as the deposit currency, generate an invoice and pay it. Once we receive funds, you will be able to spend them on purchasing NTOK tokens in your personal account. Remember that personal ERC-20 wallet is mandatory in order to receive tokens after the token sale.
Are NTOK tokens considered securities?
Based on the legal advice and opinions we gathered during the preparation process, NTOK tokens do not fall under the notion of securities as per most legislations. The NTOK token is not designed to offer earnings and does not provide token holders with any ownership or other interest in NTOK. Token holders are not entitled to any guaranteed form of dividends, revenue distributions, and voting rights.
Will NTOK token be available on exchanges?
We have already contacted the main crypto exchanges to include NTOK token in the trades. Tokens will be released on the Ethereum (ERC -20) blockchain, and will be available for transfers and trading very soon after the ICO.
How will the funds collected during the ICO be used?
The funds received during the ICO will completely be used for further development and expansion of the project.
Operations - 13% (Reserves, refinancing, bolt-on M&A and other)
Marketing & Sales - 80% (Including expansion in various countries and courses)
Product - 7% (Including platform development blockchain implementation, introduction of new courses and localization for various languages & countries)
Do you have a Bounty program? How are the rewards distributed?
To promote the main goal of the ICO NTOK marketing platform and attracting users, we will introduce referral and a bounty programs. The total amount of funds reserved for the bounty program is 3% of the number of NTOK basic tokens sold or up to $ 640,000 in tokens.
5% - Translation of documents and management of local communities
20% - Social networks (Facebook and Twitter in the same proportions)
20% - Content in blogs and video content
30% - Subscription campaign
5% - Telegram bounty
20% - Miscellaneous (Payment of individual bloggers, bounty managers)
You can find details in our official Bitcointalk bounty thread https://bitcointalk.org/index.php?topic=2571547
How your token will be used?
When will I get my NTOK tokens?
The first stage of ICO is planned to take place between March 16th, 2018 and April 15th, 2018. Second stage is planned to take place in early summer. Tokens are expected to be distributed within 2-4 weeks after the ICO ends or earlier.
Where should I store my NTOK tokens?
Before the distribution you can keep tokens at NTOK platform account. After the end of tokensale your tokens will be distributed automatically. Provide your ERC-20 compatible wallet at https://tokensale.ntok.io/profile/edit
Why do you need an ICO?
The main task of our ecosystem is to create a comfortable and convenient environment for the development and self-improvement throughout life, as well as sharing knowledge and skills with people from all over the world. We want to give people the opportunity to get help from other users to achieve high results in education and career.
We assume that in the target model, the ecosystem will allow users to receive and offer a wide range of services, from developing to designing (freelancing), consulting services (including with the possibility of per-minute charging), etc.
The main goal of the ICO ecosystem of NTOK consists in increasing the interest of the crypto-community to the NTOK ecosystem and in conducting a marketing campaign aimed at attracting as many users as possible.
What is speculative value of your token? Why would its price go up?
The NTOK token is a core component of NTOK Ecosystem and is designed to facilitate all kinds of operations that make the token an integral part of the ecosystem and the driver for its economy. The number of issued basic NTOK tokens will be limited to 33 million. In the future, their number may decrease in the event that the management of the ecosystem "burns" the basic tokens. Expanding the activity of their use on various exchanges will lead to an increase in the demand for NTOK as a unit of value.
The number of personal tokens will be limited to each of the Personal Token Sale, and in the future will only decrease due to the possible non-fulfillment of some of the goals set in the course of Personal Token Sale (in this case, the means are returned by Talent-hunters). The growth of demand for a personal token is laid in the increase in the value of the time of a certain user of the ecosystem during the improvement and widening of their skills range.
What currency will be used to store the funds? How it will be?
We accept fiat currencies and the following cryptocurrencies: BTC, BCH, ETH, LTC, DASH, ZCASH, ETC. As for fiat we store the funds in USD on a bank account. As for cryptocurrencies we use coinpayments.net as a merchant.
Do you have a hard cap?
The hard cap is set at $15,000,000.
Do you have a minimum target of funds to collect? What happen if you fail the minimal target?
We have already backed $3,000,000 during the presale stage so the minimum target has been already reached successfully.
Can I take my tokens out of your service?
After the end of the tokensale tokens will be distributed automatically to the ERC-20 compatible Ethereum wallet that user has to provide on his own tokensale platform account.
How do you ensure the safekeeping of the tokens?
The vast majority of the system's tokens is kept in cold storage, and we ensure the strict safety procedures. Account access is secured with two-factor verification which prevents unauthorized access. Our wallets are protected by hardware wallet Trezor and additional password.
What will happen to my contribution if tokens are outlawed or tightly regulated?
Tokens are based on blockchain technology. Blockchain is a decentralized system in which token issues and cryptocurrency are not regulated by any one country. In a very unlikely scenario that your country of residence outlaws tokens, you can sell them well in advance of the ban.
Comment on latest SEC decision concerning ICOs
SEC's press release is not a new law. It stemmed from the investigation of a specific company, The DAO, which issued its tokens. In fact, The DAO's tokens were securities, but the company was selling them in violation of the laws regulating securities market. However, not all tokens are securities by default. In addition to laws which define what is and is not a security, there exists a large volume of court decisions on the issue. Court decisions also define the criteria which help determine if a particular transaction is a security. Depending on the situation the term "token" may mean both securities and other financial tools, and this fact was adequately reflected in SEC's press release. Our tokens are not securities. They are a product which has its purpose and functions. Because NTOK token is not a security, its sale does not require registration.
How secure is your system?
Our website is located on Amazon servers. Hosting can be accessed only via both two factor authentication and static IP. We are not using wi-fi connection to access financial services and hosting. We employ a wide range of measures and take all the necessary precautions in addition to the inherent security of the blockchain technology itself.
Who distributes NTOK tokens and how soon will I get them after the end of the ICO?
Tokens are distributed by the NTOK platform. You will receive your tokens within 2-4 weeks after the end of the ICO or earlier.
Do NTOK tokens comply with ERC-20 standard? Can they be transferred to an external ETH wallet?
Yes, the NTOK tokens are ERC-20 compliant and can be transferred to an external Ether wallet.
How to buy NTOK tokens after the ICO?
After the ICO, you’ll be able to buy NTOK tokens on exchanges when listed.
How to sell NTOK tokens?
After the ICO, you’ll be able to sell NTOK tokens on exchanges when listed.
Where will you store NTOK tokens?
NTOK tokens are generated and controlled by a smart contract. NTOK tokens will be stored in a cold storage and secured by multisig.
How does NTOK incorporate the blockchain technology?
Blocking technology in our ecosystem is necessary to support the process of Personal Token Sale, release of tokens, fixation of a set of obligations Fundraisers. And also, as a payment instrument, to transfer money when the specified conditions are met. In the blockroom will be recorded ratings of platform participants separately by roles and types of services.
Tokens are issued in the public blockbuster network of ethereum. The standard of tokens is ERC-20.
To provide the functionality of tokenization of ecosystem users, a powerful designer of smart contracts is used. A smart contract is customized for each user: the name of the token, the number of tokens, their price, the conditions for obtaining money, and collects on one of the predefined templates.
How will the NTOK token be used?
NTOK is a New Token of Knowledge. The basic ecosystem token is the basic unit of exchange for users. Will be quoted and traded on external exchange markets.. Within the NTOK Ecosystem it allows you to reserve the time slots in the schedule of any Expert with Timetable. You can also trade it within at internal crypto exchange in pairs with NTOK-P personal tokens.
How will the NTOK-P personal token be used?
NTOK - P token is a personal token of each registered user at the NTOK Ecosystem platform. When registering, each user of the ecosystem is automatically credited with 17 520 personal tokens. This is the number of hours in 2 calendar years. Until the time of Personal Token Sale, these tokens are not traded on the internal exchange and are used only to reserve Experts time. Basically this is equivalent to a single Skill-Hour of a particular user. Fundraisers are issued during Personal Token Sales, and is also used in a transaction for the purchase of the user's time and in the provision of services. They can, for example, be exchanged for personal tokens of other users or a basic token on the internal exchange market.
How will you attract students and tutors to use Tutor Ninja?
The education market is rapidly moving from offline to online. Tutoring, one of the biggest segments of the education market, is forecasted to reach US$227 billion by 2022. Currently, online tutoring accounts for only 3–5% of the tutoring market, but is expected to grow fast and become mainstream in the fields of language study, preschool preparation, supplementary instruction for K-12 students, continuing professional education.
To attract both tutors and experts to the platform we are planning to utilize all of the classic channels of Internet marketing, such as contextual and display, native and social networks advertising as well as local channels in countries where we will have a presence as NTOK expands geographically. We are also planning to leverage the crypto-community of NTOK token holders by providing relevant courses on coding, blockchain and other crypto topics.
Many centralized platforms and middlemen are put at a disadvantage by tutors who poach students and then continue to teach them on their own over Skype. Both seekers and experts in the NTOK ecosystem will have an interest in staying permanently within the platform. The low level of the NTOK commissions charged (made possible by the absence of most costs traditionally arising in connection with the presence of a middleman) takes away the incentive of tutors to leave, which in addition to the functionality of the NTOK platform and the relationships with content providers, will motivate experts and seekers to stay.
Distance learning with a tutor will very soon become a regular teaching and learning method across a wide range of subjects and topics. School and university students, adults, and parents will choose distance learning with an expert as a way of gaining new knowledge or valuable cultural experiences, preparing for exams, improving professional skills, or just learning for fun. Over the next few years more than 70% of the tutoring market is expected to go online, creating a dynamic market whose value may exceed $70 billion in size.
Also, in order to attempt to sustain for the NTOK tokens, we will allow other schools run by outside third parties (as well as our in-house developed online schools and our franchisees) to join the NTOK ecosystem. It is expected that this will result in a rise of the total number of seekers present in our ecosystem as well as a related increase in the marketing budgets used to attract such seekers by the relevant education providers leading to further promotion of the NTOK platform.
What is “Expert” in NTOK Ecosystem?
Expert is the ecosystem user interested in providing services. The person who has experience and skills in certain area and the one who ready to share them with the world. Provides services to seekers.
What is “Seeker” in NTOK Ecosystem?
The role of the ecosystem user, within the framework of which he buys another user's Skill-hour for receiving a certain service. For example, a student interested in buying a tutor's time.
What is “Fundraiser” in NTOK Ecosystem?
The role of the ecosystem user, within the framework of which Personal Token Sale is conducted. For example, a person raising money to pay for university fees.
What is “Talent - hunter” in NTOK Ecosystem?
The role of the user of the ecosystem, within which he buys the personal tokens of another user during Personal Token Sale for further use or sale on the internal exchange.
What is Personal Token Sale? Does anyone can conduct one?
Any user of the ecosystem can conduct their own Token Sale, releasing their own personal token, which other ecosystem users can buy for the basic ecosystem token, and external to the ecosystem of the ectors - for crypto-currencies and fiat money using special tools. In this case, the user of the ecosystem acts as a fundraiser. For example, studying at university. Issuance of personal tokens imposes obligations on the regular installation of Timetable and provision of its time for rendering services on the platform.
What is the purpose of Personal Token Sale?
Expert is experiencing difficulties with monetizing specific knowledge and skills, despite the potentially high demand. Most often Expert is not a professional marketer and it is difficult for them to attract clients for their services. Existing services, with which they can find customers, tend to focus on narrow, strictly specialized areas of knowledge, for example, language learning, school subjects, preparation for university exams. Expert, with knowledge in other areas, do not have the opportunity to find customers in this way. By using NTOK Ecosystem experts can get access to wide community of potential backers.
What is Internal Exchange Platform?
A tool to exchange personal user tokens for basic ecosystem tokens and personal tokens of other users (via the basic ecosystem token). Uses orders to buy and sell tokens, installed by users.
What is External Exchange Platform?
A tool to exchange a basic ecosystem token for crypto-currencies and fiat currencies. External to the ecosystem service. For example: Binance, Bittrex.
Where is NTOK team based?
NTOK team is international, our team members and advisers are located all over the world. The head office is currently located in Moscow.
What are cryptocurrencies?
A cryptocurrency is a digital or virtual currency that uses cryptography for security. A cryptocurrency is difficult to counterfeit because of this security feature. A defining feature of a cryptocurrency, and arguably its most endearing allure, is its organic nature; it is not issued by any central authority, rendering it theoretically immune to government interference or manipulation.
What are tokens?
A token is a digital asset that is sold to the public during an ICO campaign, usually for other popular cryptocurrencies, namely BTC or ETH, or sometimes directly for fiat currency. Unlike a cryptocurrency, tokens usually do not have their own blockchain, but rather are hosted on another blockchain, such as Ethereum.
What is blockchain?
Blockchain is a distributed database, in which storage devices are not connected to a common server. This database stores an ever-growing list of ordered records, called blocks. Each block contains a timestamp and a link to the previous block.
What are smart contracts?
Smart contracts are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code. The code and the agreements contained therein exist across a distributed, decentralized blockchain network. Smart contracts permit trusted transactions and agreements to be carried out among disparate, anonymous parties without the need for a central authority, legal system, or external enforcement mechanism. They render transactions traceable, transparent, and irreversible.
What is ERC-20?
The ERC-20 defines a common list of rules for all Ethereum tokens to follow, meaning that this particular token empowers developers of all types to accurately predict how new tokens will function within the larger Ethereum system. Ethereum's ERC-20 token standard has been recently formalized as an EIP.
What is ICO?
An initial coin offering (ICO), also known as a digital token sale or crowdsale, is a way of raising funds from the public for the development of a product outside of the traditional VC world. Usually products are blockchain-based technologies, but the crowdsale model is increasingly being used for other kinds of projects as well.
What are the risks of contributing to an ICO?
When contributing to an ICO, there is never a guarantee that the product whose tokens are being offered will succeed, either with their ICO or in their future development. Like any crowdfunding campaign, people should think of contributing as a donation to a project in support of its potential development, and the tokens as a kind of reward for your support. However, in the case of an ICO campaign, the reward (tokens) has the potential to increase in value once the tokens are released and available on exchanges. The price will fluctuate depending on the state of the project and the market it operates in, which is the case for every business.