Tom Coin (TMC)

What is Tom Coin (TMC)?

Tom Coin (TMC) is a cryptocurrency that exists on the Binance Smart Chain (BSC) and also formerly existed with the name TimesCoin. This introduces an intriguing duality, as TMC now operates as a meme coin on BSC with philanthropic aspirations, while the name TimesCoin historically functioned as a dividend-bearing virtual computing unit on the BTC38 exchange. The current iteration of Tom Coin seeks to build a community of diverse individuals, from all economic backgrounds, united by their shared interest in memes and the broader crypto space. It aims to attract meme lovers worldwide with its branding and marketing. More significantly, Tom Coin sets itself apart with a charitable component, aiming to fund educational and animal welfare initiatives.

The BSC-based Tom Coin (TMC) has set ambitious goals, including the development of a play-to-earn (P2E) game, the creation of a “Tom’s Metaverse,” and, most remarkably, the construction of schools on every continent. These objectives suggest a long-term vision that extends beyond the typical scope of a meme coin. To achieve these goals, Tom Coin implements a transaction tax designed to fuel its marketing efforts, burn a small percentage of tokens to potentially increase scarcity, and fund project development. The initial TimesCoin iteration was designed to provide holders with a percentage of the trading fees generated by the BTC38 exchange.

The current development team is emphasizing the security of their project by locking the initial liquidity pool. The team also plans to fund the project over time by using a wallet with a portion of the tokens on Pancakeswap. The team has stated these funds will be used gradually and in constant communication with the Tom Coin community.

How Does Tom Coin (TMC) Work?

The way Tom Coin (TMC) works depends on the iteration you are discussing. Currently, Tom Coin operates as a BEP-20 token on the Binance Smart Chain (BSC), which means it adheres to a set of rules and standards for tokens issued on this blockchain. This is significant because BSC offers faster transaction speeds and lower fees compared to other blockchains like Ethereum. TMC uses a transaction tax to support its operations.

A percentage is deducted from each buy and sell transaction. According to the project’s documentation, this tax is divided into several components: a portion is burned (reducing the total supply), a significant allocation is directed towards marketing to promote the coin and expand its reach, and the remainder is allocated to funding project development, which includes the creation of the P2E game, the metaverse, and the charitable endeavors. This tax system is designed to create a self-sustaining ecosystem.

Holders of TMC are intended to benefit from the potential increase in value driven by these activities, as well as the opportunity to participate in the project’s future P2E game and metaverse. Transparency regarding the use of the collected tax is key to maintaining community trust. The locking of initial liquidity is designed to provide an additional layer of security.

In contrast, the original TimesCoin was a computing unit on the BTC38 exchange, holders of which received a portion of the trading fees. The distribution was proportional to the amount of TimesCoin held.

Tom Coin (TMC) Key Features and Technology

Tom Coin’s key features revolve around its duality as a meme coin with a focus on community, charity, and future development on the Binance Smart Chain (BSC). The token uses the BEP-20 token standard, common to BSC tokens. A key feature is the transaction tax that is taken with each buy and sell. This creates a revenue stream for development and marketing of the token.

Key features of Tom Coin (TMC):

• Community-Driven: The project emphasizes building a strong community of individuals from various backgrounds.
• Charitable Focus: A core aspect of TMC is its commitment to funding schools in underprivileged areas and supporting animal shelters.
• Play-to-Earn (P2E) Integration: The development of a P2E game based on the Tom Coin character is planned, offering users opportunities to earn rewards through gameplay.
• Metaverse Ambitions: The project aims to create a “Tom’s Metaverse,” suggesting an immersive virtual world environment.
• Transaction Tax: A percentage tax on each transaction is allocated to token burning, marketing, and project funding.
• Locked Liquidity: The development team secured the project’s initial capital and liquidity of the project by sending it in its entirety to the forever looked LP address.

The underlying technology is the Binance Smart Chain (BSC), a blockchain network known for its speed and low transaction fees. As the original TimesCoin, the project relied on the BTC38 exchange’s platform and fee distribution mechanism.

What is Tom Coin (TMC) Used For?

Tom Coin (TMC), in its current iteration, serves multiple purposes within its ecosystem. Its primary function is as a medium of exchange within the Tom Coin community and related platforms. The initial goal is to engage meme lovers and introduce them to the BSC ecosystem.

TMC can be used for:

• Community Engagement: To participate in the Tom Coin community, express support for the project’s goals, and potentially influence its direction.
• Access to P2E Game and Metaverse: In the future, TMC is intended to grant access to the project’s play-to-earn game and the “Tom’s Metaverse,” allowing users to earn rewards and interact within a virtual environment.
• Supporting Charitable Initiatives: Holding TMC indirectly supports the project’s philanthropic efforts, including building schools and supporting animal shelters.
• Speculative Investment: Like any cryptocurrency, TMC can be used for speculative investment, with users hoping to profit from price appreciation.

Historically, as TimesCoin, it was used to earn a share of the trading fees from BTC38, a virtual currency exchange. It essentially functioned as a share or dividend-paying token within that specific platform.

How Do You Buy Tom Coin (TMC)?

Buying Tom Coin (TMC) involves several steps, as is common with most cryptocurrencies. The most likely exchange where TMC is available is PancakeSwap, a decentralized exchange (DEX) on the Binance Smart Chain (BSC). Here’s a general overview of the process:

1. Set up a Cryptocurrency Wallet: A cryptocurrency wallet is necessary to store and manage your TMC tokens. Metamask is a popular option that is compatible with the Binance Smart Chain.
2. Acquire Binance Coin (BNB): Since TMC is on the Binance Smart Chain, you’ll need BNB to pay for transaction fees and swap for TMC. You can purchase BNB on major centralized exchanges like Binance, Coinbase, or Kraken.
3. Transfer BNB to Your Wallet: Transfer the BNB you purchased to your Metamask wallet. Make sure you are sending it to your Binance Smart Chain address (usually starts with “0x”).
4. Connect to PancakeSwap: Go to the PancakeSwap website. Connect your Metamask wallet to PancakeSwap.
5. Swap BNB for TMC: On PancakeSwap, select BNB as the “from” currency and TMC as the “to” currency. You may need to manually import the TMC token address if it doesn’t appear in the list. Be sure to double-check the contract address to ensure you are swapping for the correct token.
6. Confirm the Transaction: Review the transaction details, including the slippage tolerance (a setting to account for price fluctuations). Confirm the swap in your Metamask wallet.
7. Wait for Confirmation: The transaction will be processed on the Binance Smart Chain. Once confirmed, the TMC tokens will appear in your Metamask wallet.

Important Considerations:

• Slippage: Due to the volatility of cryptocurrencies, especially newer coins, be prepared to adjust the slippage tolerance.
• Transaction Fees: Always factor in the transaction fees (gas fees) on the Binance Smart Chain, which are paid in BNB.
• Scams: Verify the contract address of TMC before swapping to avoid scams.

How Do You Store Tom Coin (TMC)?

Storing Tom Coin (TMC) securely is crucial to protect your investment. Since TMC is a BEP-20 token on the Binance Smart Chain, you’ll need a wallet that supports this standard.

Here are the primary options for storing TMC:

• Software Wallets (Hot Wallets): These are applications that you install on your computer or smartphone. They are convenient for frequent transactions, but generally considered less secure than hardware wallets.
• MetaMask: A popular browser extension and mobile app that supports the Binance Smart Chain and BEP-20 tokens.
• Trust Wallet: A mobile wallet developed by Binance that supports a wide range of cryptocurrencies, including BEP-20 tokens.
• Binance Chain Wallet: A browser extension wallet specifically designed for the Binance Chain and Binance Smart Chain.
• Hardware Wallets (Cold Wallets): These are physical devices that store your private keys offline, providing a high level of security.
• Ledger Nano S/X: Popular hardware wallets that support the Binance Smart Chain and BEP-20 tokens through the Ledger Live app.
• Trezor Model T: Another well-regarded hardware wallet with support for Binance Smart Chain and BEP-20 tokens.
• Exchange Wallets (Not Recommended for Long-Term Storage): While you can technically store TMC on the exchange where you bought it, this is generally not recommended for long-term storage. Exchanges are custodial services, meaning they control your private keys. If the exchange is hacked or goes out of business, you could lose your funds.

General Security Practices:

• Enable Two-Factor Authentication (2FA): Always enable 2FA on your wallet and exchange accounts.
• Keep Your Private Keys Safe: Never share your private keys or seed phrase with anyone. Store them in a secure location, preferably offline.
• Be Wary of Phishing Scams: Be cautious of phishing emails or websites that try to trick you into revealing your private keys.
• Update Your Software: Keep your wallet software and operating system up to date with the latest security patches.

Future Outlook and Analysis for Tom Coin (TMC)

The future outlook for Tom Coin (TMC) is highly speculative and depends on its ability to execute its roadmap. The success of the project hinges on several key factors, including community growth, development progress, and overall market conditions.

Potential Positives:

• Community Engagement: A strong and active community can drive adoption and awareness of TMC.
• Successful P2E Game and Metaverse: The launch of a compelling play-to-earn game and metaverse could attract new users and increase the utility of TMC.
• Charitable Impact: Demonstrating a tangible positive impact through its charitable initiatives could enhance the project’s reputation and attract socially conscious investors.
• Binance Smart Chain Ecosystem: Being on the Binance Smart Chain provides access to a large and active DeFi ecosystem.

Potential Negatives:

• Meme Coin Status: Meme coins are inherently volatile and prone to pump-and-dump schemes. TMC needs to establish a strong use case beyond its meme status.
• Execution Risk: Developing a P2E game, metaverse, and executing charitable initiatives requires significant resources and expertise.
• Competition: The cryptocurrency market is highly competitive, with numerous similar projects vying for attention.
• Regulatory Uncertainty: The regulatory landscape for cryptocurrencies is constantly evolving, which could impact the project’s future.

Overall:

Tom Coin (TMC) has the potential to grow if it can successfully execute its ambitious roadmap and build a strong community around its charitable mission and entertainment offerings. However, the project faces significant challenges, including competition, execution risk, and the inherent volatility associated with meme coins. The development team has stated intentions to bring value, but time will tell if the plans can be executed.

References

• CoinGecko
• CoinDesk