As carbon emissions from the transportation industry increase, exploiting the already damaged system, a revolutionary crypto project has been launched in the name of eTukTuk to help people from developing countries to opt for a more sustainable and energy-efficient mode of transportation. However, read our eTukTuk review further to know about the project in detail.
eTukTuk empowers the future of transportation, developed on Blockchain and AI solutions. There are over 270 million TukTuks worldwide, emitting more and more CO2 than a regular car. With eTukTuk, anyone can participate in tackling air pollution, financial exclusion, and CO2-related health problems.
Using $TUK tokens, eTukTuk is all set to introduce electric vehicle charging stations and offer rewards to stakeholders while reducing the costs of transportation. In this guide, we will discuss the current challenges in the transport industry and how eTukTuk’s mission, innovation, and technology will overcome those challenges.
The Team Behind eTukTuk
The team of masterminds behind this sustainable crypto project, eTukTuk, includes – CGO – Mohit Ahuja, CTO – Sukhjeevan Uppal, CBO – Craig McNerlin, Advisor-Founder and CEO of AsiaTokenFund Group – Ken Nizam, and Advisor-Group Director of Capital Maharaja Group – Niro Cooke.
Challenges Faced in the Transport Industry
The transport industry faces serious challenges like economic conditions, low profits, and new regulations & laws. Although the transportation industry has changed since the COVID-19 pandemic hit the world, the Internet of Things (IoT) has also revolutionized the industry and other aspects of our lives.
Among the challenges, there is a tremendous scarcity of qualified drivers, leading to one of the most palpable challenges facing the transport industry.
The reason for this driver shortage is the high turnover rates of drivers, difficulties entailed in this profession, better job opportunities, and the pandemic. Moreover, the driver shortage is also bringing up the transportation costs. There has also been a rise in fuel prices, which only compounds the crisis.
In addition, stolen goods, delays, and unclear arrival status are some of the main issues that are relatively common in the transport industry. There is a lack of digital tracking platforms that could improve security and provide enhanced customer service. However, implementing digital changes remains one of the biggest challenges in the transport industry.
Solutions Offered by eTukTuk
To overcome the current challenges faced by the transport industry, eTukTuk has introduced different solutions mentioned below:-
Electric Vehicle Supply Equipment (EVSE)
eTukTuk designed the electric vehicle supply equipment or EVSE to introduce charging infrastructure in developing countries where the technology is severely lacking. eTukTuk’s EVSE is powered by eTukTuk ZEV via DC GB/T standards that allow efficient charging for these vehicles and other compatible EVs.
Zero-Emission Vehicles (ZEVs)
The zero-emission vehicles (ZEVs) introduced by eTukTuk are designed in compliance with all EVSEs, enhancing opportunities for scalability within the ecosystem. The ZEV batteries have the potential to last up to 8 years. ZEVs are proprietary, manufactured locally with less than 200 components, and around 85% of the ZEV parts are sourced domestically.
Through EVSE’s unique partnerships, domestic production, and infrastructure, the operational expenditure can be reduced by almost 78% compared to the ICE eTukTuk. It increases the potential for every eTukTuk driver to earn additional revenue.
Territories & Territory Partners
Territories refer to regions where eTukTuk will deploy the EVSE and ZEVs. The territories require territory partners to deploy and operate services for seamless operation and delivery of power, charging stations, vehicles, and technology. The infrastructure partners or territory partners manage and set up the infrastructure to mitigate avoidable costs for the eTukTuk ecosystem using intellectual capital.
The eTukTuk Sharing Economy
The peer-to-peer share economy on eTukTuk contributes many utilities to enhance the quality of transport systems for both territory partners and drivers. The eTukTuk EVSE placement is operated by territory partners with wide ease of charge and frequency for the community of drivers.
Territory partners can join eTukTuk to maintain and operate charging stations that provide drivers with access to the network. Through this, they can earn rewards generated each time eTukTuk drivers charge their vehicles at any eTukTuk charging station.
Power Staking and The Sharing Economy
The power staking mechanism on eTukTuk allows participants, staking into the eTukTuk network through $TUK, to share the ecosystem’s success. They earn rewards for supporting the eTukTuk shared economy through power staking. The ecosystem facilitates the expansion of the sharing economy, allowing every participant to share in and accelerate cleaner air, healthier outlook, and further financial inclusivity.
eTukTuk Mission
At present, there are no countries in the world with a scalable and sustainable transport solution. eTukTuk is the first platform to build affordable charging stations and electric vehicles to directly tackle financial exclusion and air pollution.
The developer’s team at eTukTuk works to create sustainable solutions and a culture of innovations, empowering the transport industry and acting with integrity. eTukTuk allows everyone to participate in its mission of tackling air pollution and other health conditions caused by the transport industry.
eTukTuk Technology and Innovation
Several technologies like Blockchain and Artificial Intelligence (AI) have significantly emerged and evolved, considerably impacting the global economy. eTukTuk has merged these technologies to revolutionize the transport industry and the growing EV sector.
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By leveraging technological advancements in Blockchain and AI, it focuses on creating an ecosystem to combat carbon emissions and advocate for environmentally friendly transportation alternatives.
Essentially, the eTukTuk ecosystem is built on Blockchain to provide better transparency, enhanced security, true traceability, improved efficiency and speed, less friction, and a sharing economy for all participants to share in the ecosystem’s success and earn rewards for showing support to the shared network. The eTukTuk ecosystem is powered by BNB Chain’s Layer 2 opBNB network, multi-chain approach, smart contracts, and decentralized applications.
Market Size and Demand of eTukTuk
The market of EV charging stations has an estimated growth rate of 30.26% CAGR, which is attributed to the market demand pre-pandemic. The market in Asia-Pacific for EV charging stations stood at $2.6 billion in 2021, projecting an increase of 42% CAGR, representing a global market share of 38%.
Most current charging stations are primarily available in developed countries such as Korea and Japan. However, the market is expanding exponentially in other parts as well. The Indian market is estimated to project a strong 25% CAGR between 2023 and 2028. For MEA (the Middle East and Africa), similar growth rates were forecasted.
Although there is great demand and potential for growth, there is a lack of affordable EV models. Hence, the market of charging stations may face challenges, especially with the high initial EV costs.
eTukTuk aims to provide scalable solutions and act as a blueprint that could expand to meet the necessary switch from traditional vehicles to EVs and mitigate the current challenges faced by the transport industry in developing nations.
eTukTuk Network Overview
Building on BNB Chain
eTukTuk is constructed primarily on the Binance Blockchain (BNB Chain) that underpins the network. BNB Chain reduces heavy gas fees, promoting a greener environment with its Proof of Stake authority consensus mechanism dedicated to enhancing security and safety.
BNB Chain provides a suitable environment for developing high-performance dApps (decentralized applications) and building multi-chain or cross-chain financial infrastructure to speed up mass adoption on the eTukTuk platform.
With the help of the Fast Finality feature of BNB Chain, users can ensure accurate information and greater reassurance, especially for first-time $TUK adopters. Building on the BNB Chain also facilitates fast transactions, allowing up to 2000 transactions per second.
Furthermore, to control transaction costs and speed, BNB Chain is developed with Layer 2 support to ensure high transaction volumes and avoid making Layer 1 unfeasible. Through this, the scalability of eTukTuk can be increased on the BNB Chain network.
opBNB
eTukTuk will be launched on BNB Chain’s Layer 1 and utilize Layer 2 of BNB Chain’s opBNB to reduce transaction costs and boost the project’s scalability. It is designed to bring high scalability, efficiency, interoperability, performance, and efficiency across the network.
The Multi-Chain Approach
eTukTuk is driven by the objective of scalability, sustainability, and interoperability. The power of Blockchain must be harnessed to develop a real-world solution that transcends borders and empowers communities to make this happen.
To maximize eTukTuk’s switch and impact an advance towards the mission of offering sustainable transport solutions to users in developing nations, eTukTuk employs a multi-chain approach.
The primary Blockchain of the initial eTukTuk phase will be Binance Smart Chain (BSC) due to its proven extensive presence and scalability in emerging countries. Moreover, eTukTuk recognizes the significance of cross-chain interoperability and inclusivity, making $TUK accessible on both Binance Smart Chain and Cardano.
Smart Contracts
The staking logic and rules on eTukTuk are coded into transparent and visible smart contracts that do not require any third-party interaction. These smart contracts determine a charge price where other variables are adjusted to equate supply and demand, considering national and local network usage, demand for power staking, and energy costs.
Using smart contract technology, eTukTuk offers swift, efficient, and smart payment services to the network’s users and provides network participants and drivers to make sustainable transportation successfully work for everyone by participating in power staking and territory partners.
Rewards
Every $TUK token holder on eTukTuk gets an opportunity to earn rewards, encouraging maximum participation and decentralization over a long period. Users need to roll out eTukTuk’s ZEV by making transactions in $TUK at EVSE charging stations.
Once the network is launched, gradually reducing and controlled token releases will be deployed to incentivize holders toward long-term participation. $TUK token holders will be distributed with on-chain rewards over a period of 15 years.
Application
eTukTuk has developed two main front-facing applications, each focusing on the two major stakeholders of the ecosystem – passengers and drivers. The Passenger app will be developed once the network is launched to allow secure and seamless payment to drivers.
The Driver app will also be launched to allow drivers to make payments at the charging stations using $TUK and other chosen currencies. The app will enable payments via crypto exchanges or on-ramps. Aggregated and anonymous data will then be created for every driver’s movement, charging time, speed, queueing for charges, and more.
eTukTuk ($TUK) Token Economics
Only $2 billion $TUK tokens in the eTukTuk ecosystem are available through randomized release functions and partnership tokens allocated on a per-deal basis.
The token distribution is that the tokens are distributed among project operations, team allocation, company reserve, marketing, presale, pre-sale staking, power staking, liquidity, and community fund. eTukTuk will use the funds from the pool of community funds to donate and manufacture eTukTuk for those in need.
eTukTuk ($TUK) Token Presale
eTukTuk initially allowed early investors to get early access to $TUK, after which there was a token presale with a total supply of 2 billion $TUK tokens, 300 million of which was made available for presale.
Although $TUK was priced at $0.04 per token, interested investors could purchase the tokens at a discounted price of 0.02475. 19.5% of the $TUK token supply was allocated to the project operations fund, and another 9.5% was allocated to the developer’s team to secure the project’s long-term growth. Since the beginning of the $TUK presale, around 700,000 tokens have been distributed.
How to Buy and Stake eTukTuk ($TUK) Token?
To buy and stake eTukTuk’s ($TUK) tokens, follow the simple steps mentioned below:-
- To participate in the $TUK presale, every user will require a Web3 crypto-compatible wallet. For desktop use, eTukTuk suggests using the MetaMask extension. For mobile, TrustWallet can be used for a seamless user experience.
- Users can also use USDT, ETH, BNB, or a bank card to ensure that they have enough cryptocurrency for $TUK purchases and staking and gas fees.
- Stake $TUK tokens to start earning rewards in tokens instantly.
- After connecting the wallet, navigate to the Buy and Stake tab to earn interest on all staked tokens.
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At the time of writing this eTukTuk review, staking takes place on the BNB Smart Chain (BSC) network. Hence, users are recommended to purchase tokens on the BNB Chain to benefit from crypto staking. Alternatively, $TUK tokens can also be bought from the presale and claimed as soon as it is over.
eTukTuk Play-to-Earn Game
eTukTuk also announced the release of an innovative play-to-earn Blockchain-based game on its platform. The game will feature the flagship vehicle within the eTukTuk system in a Crazy Taxi style, where drivers can whiz around the lanes of Sri Lanka, pick up and drop off customers within the shortest time.
By driving customers, players can earn depending on the speed and time required to drop off their passengers. Although the game is yet to be launched, eTukTuk has already recommended players upgrade the platform and unlock new cities for more fun and excitement. This P2E game is another feather in eTukTuk’s cap as the project stands firm to emerge as a state-of-the-art token in the crypto landscape.
eTukTuk Roadmap
Phase 1 – Conception
- Whitepaper released
- Announcement of Sri Lanka as the Launch Territory
- eTukTuk unveiled at World Economic Forum, Davos
- Rewards App: TukStation launched
- eTukTuk prototype unveiled
- Power Staking released
- SL office opening
- Singapore office opening
Phase 2 – Presale
- Token Sale Begins
- Layer 2 Sidechain revealed: opBNB
- Audit of Smart Contract Completed
- Smart Contract Deployed
- Development of Driver App begins
- Buy and Stake feature launched
- Staking contract deployed
- Tuk Station gets 80,000 users
Phase 3 – Launch
- First Charging Station Installed in Sri Lanka
- eTukTuk’s Official Government launch
- Passenger App initiates development
- Launch of $TUK tokens on CEX
- eTukTuk Merchandise available for sale
- Power Staking starts
- Charging Station prototype unveiled
- The first production facility was acquired, and renovation commenced
Phase 4 – Growth
- Announcement with the Sri Lankan Government
- eTukTuk production starts in Sri Lanka
- First charitable donations to the local community
- Driver App completed
- Target 200 Charging Points installed in Sri Lanka
- Passenger app completed
- Target 6000 eTukTuk vehicles on road by 2023
- Second eTukTuk Country/Territory Announced
- First Charging Point in 2nd eTukTuk Country/Territory Installed
- Unveil 3rd eTukTuk Country/Territory
- Development of Second Model (last mile deliveries)
- Installation of First Solar charging station
Conclusion
eTukTuk uses Blockchain technology and artificial intelligence to emerge as a groundbreaking ecosystem and token in the crypto landscape. It aims to have a positive impact on global climate change by introducing sustainable solutions with eco-friendly transportation, allowing stakeholders to invest and earn in $TUK tokens.
The sustainable crypto platform continuously sets up EV charging stations in developing nations, benefiting multiple sections of people, including token holders, local operators, and eTukTuk drivers. Overall, to bring robust infrastructure to developing nations and reduce air and noise pollution, eTukTuk aims to combine AI and Blockchain technologies to create a sharing economy on a global level.