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TTC Protocol Basic Review

Project Details


Ticker symbol: TTC

Project type: Marketing

Extended company description: TTC Protocol is a protocol for building decentralized Social Network Service applications (DAPP) on blockchain.

Company: TTC Foundation PTE Ltd.(SG)



ICO details

Public ICO start date: 18.04.2018

Public ICO end date: 18.05.2018

Token sale duration (weeks): 4

Token type: ERC20

Token emission: 1,000,000,000

Tokens available on sale (Pre-Sale + Public ICO):  125,000,000

Investment goal: Development & governance of TTC Ecosystem

TTC prices:

  • Pre ICO: 1TTC = 0.0002 ETH
  • Main ICO: 1TTC = 0.00025 ETH

Accepted currency: ETH

Bounty: active until April 3, 2018

Airdrop: active until May 4, 2018

Token role: functional


Team (number of people): 55

Advisors (number of people):  6 Advisors


Project Information

The TTC Protocol is a decentralized and token-incentivized social networking protocol for the next generation of social platforms. This protocol uses cryptocurrency token incentives to create a more rewarding, dynamic social network. All DAPPs will be merged into a single network, where TTC tokens will become the main means of transaction.

The project has a confirmed DAPP, tataUFO, which is a social network based in China. On this network users can earn tokens for viewing adverts, for loyalty and for creating content for companies.

The advertising platform tataUFO, built on the basis of the protocol, will offer the following services:

  • Creating content for companies by users
  • Advertising
  • Conducting surveys of consumers
  • Reporting from third-party chat bots
  • Giving discounts and sending gifts, etc.


  • Simon Seojoon Kim : CEO and Partner at Hashed / Venture Partner at SoftBank Ventures
  • Yuan Zhang: CEO assistant and Blockchain PM of Bitmain Technology
  • Jian Cai: Professor at Guanghua School of Management, Peking university
  • Kevin Wang: Managing Partner at Ameba Capital Ex-CFO at Kingsoft
  • Ryan Kim: CAO and Partner at Hashed
  • Hongwei Cao: Raventech CTO at Baidu

Partners supporting tataUFO:

  • Ameba Capital Group
  • SoftBank Ventures
  • Union Investment Partners
  • Lightspeed China Partners
  • Korea Investment Partners

Attracted investment:

  • Hashed
  • Others not currently disclosable


TTC’s project is a blockchain-based decentralized protocol for token-incentivized social network platforms. The project already has its first DAPP, the fast-growing service known as tataUFO. TTC is backed by strong, reputable investors and accelerators.

Strengths of the project:

  • The project is entering a dynamically developing market
  • The product is in demand in the market
  • An experienced team with a proven track record in the SNS industry.

Weaknesses of the project:

  • Information on strategic partnerships is not disclosed

Market and Industry

According to Markets and Markets, blockchain market size will grow from $241.9 million in 2016 to $7683.7 million by 2022 with a CAGR of 79,6%.  [https://www.marketsandmarkets.com/Market-Reports/blockchain-technology-market-90100890.html]

Comments: The market demonstrates high growth rates which suggests the project has a chance of occupying a niche.


The team has highlighted direct competitors as follows:

  • Steem - Steemit is a blogging and social networking website that uses its Steem blockchain-based rewards system for those publishing articles. One of the most popular end-user services in the blockchain world. Despite this it has gained less than 1m users 20 months after launch.
  • Mithril -  a decentralized social media platform that rewards all its content creators. Mithril launched their first service few weeks ago and have less than 10k downloads through Google Play.
  • Sphere - a decentralized social network. Complicated UI/UX. Not able to gather users.

In our research, we have identified the following competitors:

  • DAPP Builder - a protocol that enables users to create a DAPP based on Ethereum.
  • Origin protocol - a protocol for the creation of trading platforms for joint consumption using Ethereum and IPFS.
  • Gems - a protocol for DAPP creation.

Summary: The project considers social media as its competitors. A key advantage for TTC is that it is able to partner with existing networks. However we consider it necessary to compare with projects similar in functionality (DAPP on blockchain) to adequately judge the level of competition.

Engineering Features of the Platform

TTC Protocol is built on the basis of Ethereum. The protocol will enable the creation of decentralized applications (DAPP), which will be a single ecosystem in the future.

TTC protocol will initially implement a balanced on- and off-chain transaction service. This is to improve efficiency of the system and provide a smooth and consistent experience for its users.

TTC will be initially built on the public Ethereum network. Later, the protocol will evolve into a fully on-chain service, by working with another public blockchain or by building a proprietary mainnet system. 

The architecture of the system includes:

  • Blockchain Tools. Includes a database, network, block format, matching algorithm, etc.
  • TTC Core. A layer for unified authorization, TTC tokens, remuneration system and wallet, etc.
  • TTC Protocol Open Platform. API with unified content, user and information management (including SSO solution), anti-spam solution and audit.


  • Applications built using the DAPP protocol.

Technical description

Currently, the TTC ecosystem will operate in the following manner (decentralized advertising platform alone):

1) A seller of goods or services acquires TTC tokens on an exchange

2) Tokens enable the seller to place advertising on the tataUFO platform or leave a request for content creation

3) Users view the seller's ads; distribute them to the network, share, etc.

4) Users receive a reward for their activity in TTC tokens.

Users also receive a reward for:

  • Creation of content for companies
  • Loyalty
  • Ad views
  • Reputation

Comments: The project uses existing technologies that have proven themselves in the market.

Technical Roadmap

In the future, with the development of technology and the amount of data it is planned to implement:

2018 Q1

  • Implementation of the smart contract
  • Deployment of the beta version of TTC Public Chain
  • Pre ICO (Sold Out)

2018 Q2

  • Deployment of the stable version of TTC Public Chain
  • Main ICO

2018 Q3

  • Deployment of the reward engine
  • Launch of the beta application for iOS & Android

2018 Q4

  • Launch of tataUFO on the TTC open platform


  • Roll out full on chain solution

Comments: The team has presented a step-by-step strategy for project development. However, the development of the platform and protocol will take a long time, which could impact on investors’ desire to invest. Currently, the smart contract and code are not available in the public domain.


We have analyzed the TTC Protocol documentation and website for sufficiency and consistency for making an investment decision.

Information about the project is contained in the White Paper, Terms & Conditions and Privacy Policy. Documentation is presented in English. The White Paper is also available in Chinese and Korean, and presents a description of the project. The main emphasis is on a description of the protocol and its first DAPP, tataUFO (a social networking platform in China).

The website also provides information about the project, the ICO, the roadmap and the team. The website is viewable in English, Korean and Chinese.

Summary: The documentation enables a comprehensive view of the project, which is described in sufficient detail.


Tokens issued for sale: 25% of total hard cap.

Public ICO start date: April 18, 2018

Token type: ERC20

Accepted currency: ETH

Price: 1 TTC = 0.00025 ETH (1 ETH = 4000 TTC)

Crowdsale duration: 1 month, until May 18, 2018

TTC tokens will be available as a means of payment in the TTC ecosystem.

The TTC token can be used for the following services:

Token limitation: 1,000,000,000

Advantages for token holders: TTC tokens are functional; users may either sell them or use them for accessing/purchasing platform services. For advertisers, TTC tokens can be used to post ADs on DAPPs.

Dividends: none

Additional token emission: none

Escrow: N/A

The sale is implemented in several stages:

ICO Soft cap: none

ICO Hard cap: 25,000 ETH (Pre + Main ICO)

Bonus: 25% bonus for Pre-ICO participants

Comments: Tokens are planned to be listed on exchanges.


Link to the bounty program: https://bitcointalk.org/index.php?topic=3074329

The project has allocated 625,000 TTC tokens to the bounty. The program is open in the following areas:

  • Twitter: 20%
  • Facebook: 20%
  • Telegram: 10%
  • Campaign of signatures: 20%
  • Content campaign: 15%
  • Translation campaign: 15%

Summary: The bounty program ended on April 3rd, however the project has an active airdrop until May 4, 2018.

Token and Capital Distribution

Tokens and funds are distributed according to the following scheme:

Summary: Tokens do not affect the distribution of shares in the company.

Project Development Plans

Roadmap for the project:

Summary: The roadmap is dedicated to the technical aspect of the project. Plans for recruiting users to the platform are not presented. According to the team, their scaling strategy is as follows: TTC Protocol plans to include DAPPs in the ecosystem by investing in their equity using TTC tokens (20% of the total hardcap is allocated to the Ecosystem Building Fund).


The team consists of 55 people. Information about its main members, based on LinkedIn, is presented below:

  • Brian Cheong (LinkedIn) - President and founder. CEO and founder of tataUFO. Previously, analyst at Softbank Ventures, intern at Korea Asset Management Corporation, IT consultant at Korea International Cooperation Agency.
  • Chase Chang (LinkedIn) - Vice-president and expert on the project ecosystem. Previously: Chief Operating Officer at Retrica, Vice President for Business Development at LINE Pay, Analyst at Softbank Ventures Korea, Consultant at KOICA.
  • Yixiao Wang (LinkedIn) - Product director. Previously, Vice President of Beijing Huying Network Technology Co., Ltd., Product Director at appbyme.com, Senior Product Manager at 百度.

The team has 52 more people.

Summary: Only two members of the team have indicated their affiliation with the project. The team is mainly from China and Korea, and includes technical specialists, product specialists and a designer.


Information about the project is available via various popular services such as Twitter, Telegram, Medium, LinkedIn, Facebook and BitcoinTalk. The project has a bounty program.

The team is conducting an advertising campaign on social media. Twitter and Facebook feature regular news updates.

Comments: Interest in the project is still at a low level. The marketing campaign is being developed mainly via Twitter and Facebook.

Summary: Based on available data, user interest in the project is still at a low level. The team is conducting an advertising campaign via Twitter and Facebook, communicates with its users on Telegram and maintains a blog on Medium.

The project website has recently been created, therefore we present no metrics in this review.


The developers can be contacted using the links below:










The information contained in the document is for informational purposes only. ICORating received monetary compensation in the amount of $6067 from the entity rated in this report for completing the ratings report. However, the entity rated in this report did not have the opportunity to approve this rating report before the report was published, nor did the rated entity have the opportunity to edit or remove this report once it was published. The views expressed in this document are solely those of the ICORating Team, based on data obtained from open access and information that developers provided to the team through Skype, email or other means of communication. Our goal is to increase the transparency and reliability of the young ICO market and to minimize the risk of fraud. We appreciate feedback with constructive comments, suggestions and ideas on how to make the analysis more comprehensive and informative.