I’m sure many of Trucpal’s community members remember that I held the role of Chief Strategy Officer for Trucpal in 2021–2022. Now after 1 year, I’m back again in the same capacity, this time working with the team to continue exploring the future of STO and RWA, and to further promote the wider adoption of TRUCPAL tokens.
Getting Involved with the Trucpal Team
Prior to joining Trucpal in 2021, I held the position of Head of Marketing Asia for Props, the SEC’s RegA compliance project. My time at Props gave me an initial understanding of SEC policy and token issuance compliance.
At that time, token issuance in the crypto market was still mainly based on ICO/IEO/IDO and other means of financing, but either way, they were not recognised and protected by the regulators of each country. As a result, Rug Pull, Insider Trading, Market Manipulation, Hacking and other problems emerged, which not only caused great disturbance to the security of investors’ assets, but also continued to bring legal risks to crypto practitioners. Therefore, the emergence of STO is a better choice for both entrepreneurs and investors in the crypto industry.
And Trucpal, as the 1st Chinese project to adopt STO for token issuance, naturally attracts a lot of attention from the market. Because of this, during my tenure at Props, I co-organised a number of online seminars with Magic Circle, Trucpal’s issuance consultant, to deepen my understanding of Trucpal. After the completion of the Props project, I joined Trucpal and was responsible for the development and implementation of the company’s marketing strategy.
Taking a break from the crypto industry
During the year working with the Trucpal team, I felt the team’s recognition and exploratory spirit for crypto innovation, as well as their pragmatic work ethic. During this year, TRUCPAL tokens received cornerstone investment from Beyond Ventures, a renowned venture capital firm, successfully opened its first round of issuance on INX, and established partnerships with HKVAX & HKbitEX. Meanwhile, Trucbook’s annual transaction volume reached RMB 716.38 million (US$104 million); a 700% increase compared to 2021. Cumulative total of 11,500 registered entities in the system and 17,600 registered Trucbooks, a 200% increase compared to 2021.
But unfortunately, in October 2022, I had to take a break from the crypto industry and leave my job for personal reasons. However, during my time away, I still followed the developments and latest news in the industry.
I saw the collapse of FTX in November 2022, and I also saw the new energy and anticipation that RWA Asset injected into the crypto market in 2023. Especially going into 2024, after BlackRock successfully pushed the BTC ETF to the ground and launched the first tokenised fund on Ether in partnership with Securitize, BUIDL “BlackRock USD Institutional Digital Liquidity Fund “, I realised that the spring is coming for STO and RWA assets.
In fact, it’s not just BlackRock that’s looking at RWAs, but other major TradFi institutions like Citibank, Franklin Templeton, and JPMorgan Chase have also begun to dip their toes into the RWA space, all of which adds legitimacy to the RWA board for 2024 and beyond. This boom has fuelled a surge of interest across the RWA token board, making RWA the third best performing narrative space so far this year (behind meme and AI narratives).
Returns and future prospects
After taking care of personal matters, I reached out to the Trucpal team and expressed my desire to join the team again to explore the future of STO development and RWA assets. After a 4-hour long communication with the team, I was thankful that the team still had enough trust in me and welcomed me back.
We are now confident that Trucbook will grow the business in the second half of the year. We will not only work hard to obtain Trucbook’s Online Freight licences in China’s Guangdong Province (ranked №1 in terms of national GDP), and Jiangsu Province (ranked №2 in terms of national GDP), in order to ensure that Trucpal’s business will run smoothly and to promote the wide adoption of Trucbook in these two provinces. We will also open up more services and features to our users on top of our current existing ETC business to increase our revenue.
In addition, we strongly believe in Trucpal’s historical positioning as China’s 1st STO project and the market value of emerging RWA assets. In order to promote the value discovery of TRUCPAL tokens, we will also explore new ways to expand our user base, including but not limited to: 1. Flexible use of token incentives; 2. Experimenting with new marketing channels and marketing methods; and 3. Seeking the support and cooperation of more compliant exchanges to increase the liquidity of TRUCPAL tokens.
At the same time, we will continue to give dividends to TRUCPAL token holders to protect the rights and interests of token investors.
Currently, the second round of TRUCPAL token sale has been opened on 17 May 2024, we are very grateful to the early supporters of TRUCPAL tokens in the past two years. The team will continue to move forward, so that more and more investors can recognize the value of the TRUCPAL token and finally become our token holders. In turn, they will profit from the growth of Trucpal.
Vincent Kong
June 13, 2024
