We were very happy to have Tectum SoftNote ($TET) joining us for an AMA session at our Official Telegram Community on Aug 9, 10 AM UTC. As a newly listed project on our platform, both guest speaker Trevor McCarter, COO, and Brendan Young, CSO at Tectum shared an abundance of great information regarding their project and offerings.
Before jumping into the recap, please note that we have a live community campaign in collaboration with Tectum SoftNote ($TET) right now which gives out exclusive $TET rewards for 50 winners! Go check it out now >>>HERE<<<
For those of you who sadly missed the live session, here is the recap:
Host: Hello everyone, my name is Hash, the Senior Marketing Specialist and Admin at CoinW and I am very excited to announce the commencement of our special AMA session today with Tectum SoftNote (TET).
For those of you who had not heard it yet, $TET had been listed on CoinW as of August 8, 11:00 UTC! So it is available for trading now!
Now without further ado, let’s give a warm welcome to our guests Trevor McCarter COO, and Brendan Young CSO at Tectum and move on to the first section of our AMA session today!
Trevor Mccarter: Hi Folks great to be here, Brendan, are you ready Buddy? Because I am!
Host: Let’s dive into the first section! Please tell us a little bit about you and your project.
Trevor Mccarter: I'm Trevor, COO at Crispmind, I ensure all daily tasks and operations are met to the highest standard in all departments such as Marketing , R&D , B&D , Development etc. Crispmind is a full stack Development company for over 8 years now in cyber security and Blockchain technology.
To give you a brief overview of what Tectum is, we’re a layer 1 blockchain that operates as a great overlay network, operating at incredibly fast speeds of over 1mil TPS.
Tectum’s native token $TET is a utility token that provides the opportunity to mint SoftNote which is an incredibly innovative scaling solution for $BTC along with other cryptocurrencies. Once users bring crypto into the SoftNote network they can move it around for free, with no transaction fees both in a P2P environment and as a global retail crypto payment solution.
Also Brendan Young, CSO at Crispmind Ltd, the parent company of Tectum. He looks after our sales team, partnerships with KOLs and influencers, onboarding merchants, and helps out with marketing.
Host: Great insight into your company background! Second question - What would you like to achieve with your project? Or what problems in the crypto market you propose to solve for your community members?
Trevor Mccarter: That’s a great question - We would like to achieve Mass Adoption of the SoftNote ecosystem. This is our key focus right now. Finalising any bugs in the wallet to make sure that’s a seamless operation and we are in the process of onboarding retail merchants as we speak.
We have recently partnered with a large Grocery chain in Turkey who will be quite a major operator accepting SoftNotes as legal tender.
We have applications in all over Europe for AML compliance and MSB licenses so that we can legally function in all jurisdictions as both a payment processor solution and also provide the decentralised P2P platform for our users to send their crypto around for free, with complete anonymity.
Our biggest goal is to become the ultimate scaling solution for bitcoin another cryptocurrencies!
Host: Wow great ambitions! Now, the third question - What differentiates your project from the other projects within this space? What are your advantages and unique selling points?
Brendan: We have fully developed the fastest blockchain in the world at 1.3million transactions per second that's smart contract Enabled, we also have our Flagship product called SoftNote, which we believe is the ultimate scaling solution for bitcoins current network fees and congestion times, etc which is only set to continue, We provide cheaper and faster BTC transactions on Layer 1 and free and instant on Layer 2.
The difference between Tectum and the advantages over the Lightnight Network is that we aren't settling the transaction on the BTC network like them. Rather we transfer the ownership of BTC.
Host: Very unique project indeed! Onto the next question - Could you please share more details of your project roadmap? What's next for you guys?
Trevor Mccarte: Absolutely, for our roadmap, we have ticked off many milestones already. We recently integrated USDT across ERC-20, BEP-20, and TRC-20. We have a tri-bridge smart contract wallet that enables our token to be migrated from its native token standard of TET T12 across to all those mentioned and maintain the correct balances of the total circulation.
Going forward, as mentioned we have a big focus on Mass Adoption, onboarding merchants, retailers, online stores, franchise chains, and big corporations the like will be key in getting the ecosystem up and running,
As an incredibly fast and efficient layer1 blockchain, we are also incubating other projects onto the Tectum network. We’ve been working with a move-to-earn crypto mining app that rewards its users for exercising by paying them in crypto rewards.
They have been operating on the ERC-20 protocol and by moving across to the T12 Tectum protocol they will save hundreds of thousands per year on network fees.
Our CEO Russell, comes from a medical background and has an incredibly innovative medical project who we are in negotiations to integrate on the Tectum network as well which would be absolutely ground-breaking for both blockchain and the medical industry so it’s exciting to be a part of that.
Down the road, we also have plans for a customizable NFT along with a few other options up our sleeve, involving rescuing lost $BTC and using the SoftNote for Ordinals and other applications of similar nature and also building our AI department too.
Host: I am personally very excited about these future developments! With the increasing insecurities around fund safety surfacing within the communities, how can your project address this potential issue?
Trevor Mccarter: Great question - So I remember Crispmind many years ago started as a Cyber Security company In a B2B Environment before developing blockchain technology and cyber security is our competency from wallets to nodes etc.
So of course any protocol on our network that's been developed has been so with more security in mind, in fact we were the 1st in the world to develop 3 Factor authentication.
Brendan: On top of that, we use unique hashing technology which by nature is an additional layer of security to BTC. The data we import onto our network is hashed and cannot be reversed. Therefore should someone ever manage to “hack” on penetrate our network, the information they would have access to would be useless to them. Hashing adds further security.
Host: Very well! All great answers! Thank you both so much for attending this session.! I think I can speak for our community members that we have learned a lot about your project now!
Now, if it’s ok with you, let’s move on to the next section of our session where we can answer some of the questions selected from our community members.
Brendan: Let’s go!
Host: How can I purchase $TET? On which platforms will your $TET token be available? How can I purchase your $TET token in the future?
Brendan: $TET is available at the following:
DEX
CEX
Other Exchanges Coming Soon…!
Brendan: Of course, CoinW is the most exciting one listed! The above-listed exchanges have all taken place over the last 4 to 5 weeks so it's growing at an incredibly exciting rate!
Host: If Tectum SoftNote charges zero fees to its users, how does it generate revenue?
Brendan: Great question - So yes, users get to transfer for free. The transaction fees are paid by the retailer/vendor/merchant who is the business that is generating a profit as they accept the SoftNote. Unlike Visa/MasterCard/AMEX who charge 2%, 3% sometimes even 4%, we will only charge around 1% transaction fees.
Of those transaction fees, 40% goes back to our users who Minted the SoftNotes and Provided liquidity, so we provide passive income for our early adopters of SoftNote.
The big focus is on making the SoftNote ecosystem a system for the people that rewards and serves them better than any other crypto payment gateway ever has.
Host: How does Tectum payment help businesses save money on transaction fees compared to traditional payment methods, and what are some of the other cost-saving benefits of using cryptocurrencies for payments?
Trevor Mccarter: We are competitive and only charge up to 1% for merchants. The savings are created because of our advancement in Blockchain and hashing technology together with SoftNote which we pass on to the people using our network.
Old traditional systems are slow, cumbersome, and very expensive in many Third World countries, especially those which charge 15 % fees. We promise never to charge merchants more than 1% so be very competitive against legacy systems.
Host: Tell us a little bit about security. Have you done an audit of the platform? Are smart contracts error-free? What are the test results?
Trevor Mccarter: Yes, all our contracts are audited and passed! Our staff are KYC’ed which also gives our community more security -All links can be found at softnote.com! Our blockchain is fully developed by our team and is going through a large audit. Also, we have a bug bounty program in place to detect any potential risks!
Host: Last questions - Almost 80% of investors have just focused on the price of a token in the short term instead of understanding the real value of the project. Can you tell us the motivations and benefits for investors to hold your token in the long term?
Brendan: Yes absolutely. I feel like we’re only JUST getting started. Though we have come to market far more developed than most crypto projects that go to market with an idea and then use the earnings to try and build that promised idea, we have already built 80% of the system, mostly self-funded.
However, there are lots of exciting things to come!! We are yet to build out the mobile app for iOS and Android. We are only just getting started with onboarding merchants and building the ecosystem so the more that grows and we see mass adoption of the SoftNote system, then the sky's the limit.
Partnerships with huge corporations, sponsoring of large sports teams, athletes and events, etc will see the system grow exponentially around the world as more and more people discover the issues we solve in making cryptocurrency free to use
Trevor Mccarter: Amen to that!
Host: Thank you both for that! We look forward to seeing your project grow and SHINE!
For those of you who are now excited about Tectum SoftNote like we are, please note that we have a live community campaign in collaboration with Tectum SoftNote ($TET) right now which gives out exclusive $TET rewards for 50 winners! Go check it out now >>>HERE<<<
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