TokenCard (TKN) A platform for the post-bank era

  • TokenCard™

    The platform’s underlying token, called TKN, has a pro-rata claim on a diversified pool of ETH and ERC20 tokens. The TKN Creation Event starts on 2nd May 2017.

    Core Elements

    • The Token™ Contract Wallet: secures users' assets and enforces user-set spending and security parameters.

    • Your physical TokenCard™: connects your Contract Wallet to the VISA® network — enabling online payments, PoS transactions and ATM withdrawals, using ERC20 tokens in the Token™ Contract Wallet.

    • The mobile Token App: neatly unifies the process, offering a clean, intuitive experience and empowering users to finally go bankless, wherever they are.


    TokenCard introduces an underlying ERC20 token, TKN, holding a pro-rata claim on the TKN Asset Contract. This Asset Contract accrues a 1% licensing fee (enforced by smart contracts) on all TokenCard transactions. At any time, TKN holders can redeem their share of the underlying assets by 'cashing and burning' their TKN.

    Spend your tokens with TokenCard

    Enhancing Every Token — TokenCard allows you to spend ERC20 tokens at VISA® terminals around the world. This is revolutionary: you can buy groceries in DGX, ETH, DAI or any supported tokens. You can even spend multiple tokens in a single transaction, and autonomously maintain a desired portfolio allocation within your Contract Wallet while you do it.

    Always in Control — You never have to deposit with us, ever. Your tokens are secured inside a contract wallet you control. Allowances to enable TokenCard payments are set by you and can be modified or even revoked at any time by you.

    No Compromises — Traditionally, users are forced to make sacrifices in functionality to gain security, or security for functionality. With TokenCard there is no trade-off. You retain the security and control of a contract wallet while gaining the utility of a global payments network.

    Expanding the Ecosystem — The most exciting use-cases for TokenCard are within the markets being explored by other projects in the space. Actively integrating with these platforms gives TKN holders direct access to diversified markets while providing connections to a major payment rail.

    TokenCard and Token Contract Wallet TokenCard allows you to spend ERC20 tokens at VISA terminals around the world. This is revolutionary, you could buy a coffee in DGX, ETH, DAI or any other ERC20 token. You can even spend multiple tokens in a single transaction or spend tokens to autonomously maintain a desired portfolio allocation whenever you swipe your card! How does this work? This is where the Token Contract Wallet comes in. The Token Contract Wallet is an Ethereum Smart Contract wallet that functions as a user’s token bank account, funds are taken from here whenever you swipe your card. This is amazing. You never have to deposit money with us, ever: your funds are secured inside a Contract Wallet that you control — allowances made to enable TokenCard transactions are set by you the user, and can be modified or revoked at any time.

    Token App

    First and foremost, the Token App allows users to interact with their Contract Wallet. Users can set-up innovative spending options based on different parameters and curate their security profile to fit their lifestyle.

    We’re also reimagining the way users manage their token finances. For example, the App provides on-the-fly information about transactions. Whenever a user swipes his card, a transaction entry will simultaneously appear in his Token App — this entry shows transaction details such as: location, establishment type, amount spent (local fiat amount and token), and transaction location using Google map’s API.

    Users can also re-balance their token portfolio by using our in-app token-token exchange. Users need not withdraw and deposit funds into a centralized exchange to do this, they can simply exchange tokens within their Contract Wallet at the touch of a button.

    Our goal is to have a product that anyone can use, without having to master the underlying technology. So, as part of our road map, for assets with enough liquidity, we’ll be providing a simple in-app fiat-token exchange. This provides users uninitiated to the token economy with an accessible on-ramp to, not only our platform, but to the token economy at large.

    The Post Bank Era

    The mobile Token App eliminates any need for a traditional bank account. You can manage your tokens, review spending activity, and make & request payments all through the App.

    Wallet Access — With the Token App you can safely and easily interact with their Contract Wallet. Create innovative spending options based on different parameters and curate your security profile to fit your lifestyle.

    On the Fly Information — Whenever a user swipes his card, a transaction entry will simultaneously appear in his Token App displaying business name, establishment type, amount spent (local fiat amount and token), and transaction location using Google Map's API.

    User Friendly — Designed as an intuitive experience with top tier UI/UX, the Token App is a product that anyone at any level can quickly use without having to master the underlying technology.

    Token-to-Token — Users can re-balance their token portfolio anytime with the in-app token-to-token exchange. No need to withdraw and deposit funds into a centralized exchange! Simply exchange tokens within the Contract Wallet with a click.

    Fiat-to-Token — With sufficient liquidity parameters, we'll also provide an in-app fiat-to-token exchange option. This feature allows users new to the token economy with an accessible on-ramp to not only our platform, but to the Ethereum token economy at large.

    TKN and TKN asset contract

    TKN is the underlying token of the TokenCard platform. On May 2nd, we will be launching the TKN Creation Event to raise funds to build the TokenCard platform, as described in the TokenCard Whitepaper.

    What is TKN?

    TKN is a special kind of Ethereum token. It is an asset backed token where the underlying assets represent an accumulation of different ERC20 tokens over time. Whenever a TokenCard is swiped, the transaction incurs a 1% licensing fee which accrues to the TKN Asset Contract. Some points:

    1. The licensing fee is denominated in the token used
    2. TKN holders have a pro-rata claim on the TKN Asset Contract
    3. Users paying with TKN do not incur this licensing fee

    Since the TKN Asset Contract accrues licensing fees in the token transacted in, it will eventually equate to a diversified portfolio of the most popular tokens on the Ethereum network. This is a very attractive property: TKN holders effectively have a passive stake in the growing economy of tokens, making TKN perhaps the best asset to hold in the coming Dapp Storm.

    TKN holders can invoke a mechanism known as ‘Cash and Burn’. Invoking Cash and Burn’ redeems your pro-rata share of tokens within the TKN Asset Contract, however, this also irrevocably destroys the TKN.

    As holders burn TKN to receive their share of the underlying, they forgo any claim on future accrued licensing fees. This means remaining TKN holders will now have a larger proportional claim on the TKN Asset Contract! In this way, we expect TKN holders to rarely burn — only in the case when the market value of TKN lies below the cumulative value of the underlying assets.


    We will launch an MVP for the 500 top TKN buyers by September 15, 2017. Smart Contracts are in process now, and the team is ready to get going immediately on the App and the server-side integrations.

    TKN creation Summary

    The TKN creation period commences on 2nd May 2017. The TokenCard project is capping contributions at 4,500,000 USD. We will accept ETH, fiat and other ERC20 tokens to build the platform as described in the whitepaper.

    • Up to $4,500,000 accepted
    • Contributions can be made in ETH, fiat and ERC20 tokens
    • Certain ERC20 tokens will receive bonus TKN
    • The creation period lasts maximum 7 days
    • If the cap is reached, we extend 24 hours
    • No more TKN will be created after this period







  • TokenCard - Definitive TKN Creation Event Guide

    Once the timer runs down to 0. Please hard refresh the page.
    1. Open your wallet/browser of choice. works.
    2. Get the contribution address from
    3. Give your transaction enough gas: Recommended: 300000 gas limit.
    4. TKN will be credit to the address you sent from.


    • Starts 16:00 GMT 2nd May.
    • The TKN Creation Event will take place on
    • The TKN Contribution Address will be revealed only once the Creation Event starts, and only on the website.
    • Do not send Contributions directly from an exchange.
    • Read the TKN Contribution Terms.
    • TKN will be credited immediately to the address you send from.
    • TKN becomes transferable immediately following the conclusion of the Creation Event.
    • We’ve spent a lot of time perfecting the TKN smart contracts and you are only required to send your ETH or token contribution. No further action or ABI is needed.
    • The Creation Event spans 7 days at the longest.
    • If the 4,500,000 USD goal in ETH is contributed, the creation period will last a final 24 hours before ending.
    • The Creation Event will end immediately if at any point a total amount of $12,500,000 in ETH is contributed.
    • The Token Dials on the website are not caps! They are minimum quota for supporting the respective token at the MVP launch.
    • Non-ETH tokens do not contribute to this cap.
    • Non-ETH tokens require 6 confirmations to protect against double spend attacks.
    • The top 500 contributor addresses will be able to claim their Contributor TokenCard for the before the MVP launch.
    • TKN Github and Audits.
    • Contributions will be held in control of Monolith Studio GmbH.
    • We’re partnered with Bitcoin Suisse AG who will accept Fiat and BTC contribution on our behalf.

    Other Tokens

    As part of supporting a number of ERC20 tokens at TokenCard MVP launch, during the Creation Event we will also be accepting contributions in 8 tokens in exchange for TKN. Filling up the dials means that we have hit our quota to support that token at the MVP launch.

    • ETH (Ethereum)
    • SNGLS (SingularDTV) 5% bonus rate
    • DGD (Digix) 5% bonus rate
    • SWT (Swarm City)
    • REP (Augur)
    • GNT (Golem)
    • MLN (Melonport)
    • MKR (Maker)

    The price of ETH is fixed right before the initiation of the Contribution Event using as the pricing source. Token prices are also fixed and have already been set at the following rates to reduce the chance of manipulation:

    SNGLS 0.098 *1.05 = 0.1029 DGD 28.96*1.05 = 30.408 SWT 1.38 REP 16.12  GNT 0.203  MLN 36.70 MKR 75.40

    The 1.05 multiplier for DGD and SNGLS is to bake the 5% bonus into the price

    TKN:ETH Schedule

    Catching up on TokenCard? Read this.

  • TokenCard(TKN) Creation Event Updates

    Hi Everyone, we’re very happy with the remarkable interest our project has seen. I will make a more general statement on the success of the Contribution Event later. Now, however I want to address concerns some might have about a bug that occurred, and give some peace of mind to contributors.

    All is fine. We are indeed fully aware of the bug that has occurred and there are indeed a number of solutions. On a scale for 1 to 10 in terms of seriousness; this is a 1.

    The TKN Creation Event pushed the boundaries of Ethereum crowdsales and with that we deemed it appropriate to explore these possibilities with adequate safety measures put in place. We were prepared for these kinds of possibilities; transfers are frozen until we are satisfied with the results. I want to thank the quality work done by Peter Vessenes and Dennis Peterson (New Alchemy) to be able to mitigate issues like this.

    Please just let your TKN sit on the address you contributed from, no actions are needed from the contributors side.


    A statement from Peter Vessenes from the nerdquestions channel on our slack:

    We’re investigating two server errors on the ERC20 crediting right now; first — it looks like not all of the ERC20 transfers were credited. We have very precise logs on and off chain, so we’re not worried, but we need to tie and tee the list.
    The second server error we are looking at currently looks like remediation is going to be necessary. We have a number of ways to do that, but want to get a very clear look at it in the light of day while we’re not sleep deprived. It’s evening in Seattle right now, so expect more on this in the next 12 hours.
    In the interim, please note that TokenCard has NOT published the final TKN token address; this is a safety oriented step to make sure that all participants get exactly what they were told they would during the contribution event.
    Some of you are sophisticated enough to guess what contract is the token contract; DO NOT use any such contract or any contract given to you by others until we have the official on-the-site announcement.
    All that said, no cause for alarm, but we see enough that’s worrisome we won’t be turning on transfers by committing to the token contract for a little bit here. I’ll post here and official communication will come over the website and medium.

    Once again, I want to thank all who participated. The event went over very quickly and demand was staggering.

    Mel Gelderman

  • TokenCard, TKN, Bittrex and the future + Exchange list

    The path ahead.

    Contribution Event

    We want to extend out thanks to all those that contributed in the TKN Creation Event. We raised a staggering 12.5mm in ETH and 3mm in other tokens, all in the span of minutes.

    We are now exactly one week on and, having squashed some nasty bugs, want to update you on our plans looking forward.


    We really want to thank all those that have helped us along the way; from people spreading the word to brilliant projects coming out in our support. The solidarity and inter-project support in the space is heart-warming. This “Ethereum Economy” that we’re all building together is a special and fascinating place, and I hope the current sentiments and atmosphere persists far into the future as we grow to create a new economy for the coming age.

    We’re very exited to be part of the big picture and are more confident than ever TokenCard will play a critical part to expedite us towards this common goal.

    Contributed, but didn’t get TKN?

    If you sent a contribution in tokens (like DGD) after 27 minutes you won’t have received any TKN. The TKN contract had finished crediting TKN at that point.

    Check this list if you want to know if you fall in this group:

    The “too late to the party” refund list.

    We’d love to credit TKN for your contribution but unfortunately our Contribution Terms bar us from doing so. Tokens are currently being returned to you. They will be sent back to the address they were sent from.

    Other: some people have sent from an exchange. You will need to talk to the exchange about that.

    Want to get your hands on TKN regardless!? You can trade them on an exchange:


    TKN is currently traded on several exchanges:

    500 MVP cards

    We will compile a list of the top 500 contributors who are eligible for the MVP cards over the next few days. More details soon.


    The main communication channel will be on Slack and of course right here on Medium. Periodic newsletters will go out to our 4000 (and counting) subscribers.

    Jake Vartanian and Dwight Sproull are our community managers and can be found on our Slack: “@jake” and “@dwight”. Chase them with your thoughtful, yet repetitive, questions!

    I myself will allocate half an hour every morning and every evening to answer questions, mainly publicly on Slack “@mel”. I know everyone wants time to get their questions answered by me, but I think it is most appropriate for me to stay entirely focussed on the product and make sure that moves ahead at full speed.

    Payment networks

    Recently some mainstream articles have suggested direct relations between us and payment networks. Projects like ours operate through an authorised issuing bank. Articles suggesting otherwise are incorrect.

    To mitigate this problem, and at the advice of the issuing bank, I have ordered to remove all explicit mentions of Network brands to ensure no further confusion happens. The product has not materially changed in any way; TokenCard will still be branded with the various respective Networks.

    The months ahead

    We are heads down focussed on the product. Looking at our timeline, there is a chance we might be able to ship the MVP TokenCards before our mid September goal. Fingers crossed. Progress updates will be posted here every two weeks, or whenever appropriate.


    We will be hiring from the community over the next few weeks; more detailed job listings will follow. However, if you are a brilliant Solidity developer bursting to help us change the world please reach out to us right now at [email protected] :)

  • TokenCard update #002 - WaveCrest partnership announcement

    TokenCard update #002; get strapped in.

    We are thrilled to formally announce our partnership with WaveCrest, and the role they play as the licensed issuer for TokenCards. WaveCrest is considered one of the most innovative financial institutions in the world, and it is with their brilliant tech that we are able to bring the next-gen financial magic of TokenCard to life.

    We have placed a substantial batch card order for the first wave of MVP TokenCards and subsequent Beta kick-off.

    Over the past year, we have been consulting with WaveCrest to carefully design the TokenCard platform to ensure technical feasibility and compatibility with their system.

    Note how the Rock of Gibraltar has a similar slope to the rise of Ethereum.

    Gibraltar — Crypto Rock

    The Gibraltar Government recently presented it’s ground-breaking plans for a blockchain DLT regulatory framework. With this proposed legislation and its experience in creating world-leading regulatory regimes for innovative technologies, Gibraltar is well-positioned to become the first jurisdiction in the world to create a friendly operating and regulatory environment for top-tier blockchain companies.

    This is big — blockchain companies around the world are anxiously awaiting whatever inevitable regulations may come and having clarity through full government support is a big win.

    Additionally, Gibraltar has been the home for almost all of the worlds largest online gambling operations for a decade now. This means Gibraltar has the facilities and infrastructure (law firms, regulators, etc.) as well as a forward-looking attitude to become a fantastic harbour for this next, much larger, shift in finance — the blockchain.

    TokenCard, a project aiming to move the industry forward, is very attracted to this major vote of confidence from the Gibraltar Government. Because of this, and with the support of our Swiss legal team and our electronic money issuer, we will henceforth seek to operate within the Gibraltar jurisdiction; a rock on which we can build.

    Opening a bottle with the brilliant minds at WaveCrest atop their office at the Gibraltar World Trade Center.

    Edit 1: WaveCrest blog announcement

  • TokenCard Update #005 

    Seattle Progress

    This week we’re going to focus more on the technical side of things. Although we’ve announced in the past that our MVP release would be late September or October, our technical development team over at New Alchemy has circled October 2nd as the date we can go live. Our first 1000 cards will be issued, and the KYC requirements for obtaining one will be included in a future update.

    So what is the dev team working on?

    They’ve spent their time wisely by first setting up and testing communications with Wavecrest’s network systems, and all issues have been resolved and comms are good. As you can imagine, being able to communicate with the network was pretty high up on our list of priorities. So that step is complete, and we’re moving onwards and upwards.

    • RHA implementation and Callback Implementation have made significant progress
    • Single asset spending option is in development
    • Multi-asset spending option will begin development soon
    • Freeze Tokencard ability is in progress
    • “Stop the World” emergency transfer to a secure wallet is in progress
    • Spending limits is in progress
    • Blockchain transaction info notifications are in progress
    • Debit card fiat to token exchange is in progress
    • Lots of API stuff is scheduled to be started in the next couple of weeks

    There have also been a few additions to the team in Seattle including:

    Ted Leung — CTO — is an alumni of companies such as Disney, Sun, IBM, Apple and an early Member of the Apache Software Foundation. He did graduate work at Brown University and his undergraduate degree at MIT.

    Philip Hofer — Solidity and Go Dev

    Brandon Ross — React and Go Dev (New) Received a BS in Computer Science from Louisiana State University and PhD from University at Buffalo, prior to New Alchemy worked at Igneous Systems.

    Stan Orlowski — Project Manager, spent 20 years at Microsoft Corporation in various Senior Program and Project Management roles.

    We’re going to talk about partnerships in a future update, so don’t take the absence of announcements as evidence of a lack of progress on that front.

    Jake and Dwight will be in London next week attending the Crypto-Financing 2017 conference, and we’re going to be meeting up with them while they’re in town. So if you’re going to be in the area or at the conference, make sure you say hi and they’ll be happy to talk TKN with you. Dwight will also be taking a side-trip to the lovely city of Dublin to meet up with the Wachsman team at their office there.

    Don’t forget to subscribe to the official Tokencard subreddit. It’s much easier for the team to see your questions and answer them there. We’re working on building out our own forums on the upcoming newly designed Tokencard website, but until then, please continue to use Slack and Reddit to engage with us.

    ~TokenCard team

  • TokenCard (TKN) Community Update July 14th

    Last week we had a pretty in depth update, so this week we’re going to keep it short and mostly technical.

    The New Alchemy development team is visiting our London office from July 17–21 to coordinate on the next phases of the project and also to finalize components the UI/UX. We’re excited to be able to sit down and get their input in person.

    We’re also meeting up with the Wavecrest team next week to discuss different options for card issuance roll out.

    Technical Updates

    • Fixed a connectivity issue related to new certs being applied to Wavecrest servers. Issue resolved and solution noted for future reference
    • API Callback implementation — 60% due 07.24
    • API RHA implementation — 90% due 08.01

    Build and test APIs — in progress, due late July

    • Spending options
    • Spending limits
    • Security functionality
    • Charts and dashboards
    • Top tier UI/UX
    • Financial management tools
    • Credit card loading

    Staging Implementation — Done

    Staging Certification — in progress, due early August

    • API testing
    • Callback testing
    • RHA testing
    • Certification sign-off with WC

    Essentially, this means we are still on track for a beta release on October 2nd and we look forward to sharing more updates with you next week.

    Thanks for reading everyone!

    The Tokencard Team

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