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The eTukTuk presale is one of the most trending events of the crypto market this week, thanks to the substantial interest it has been garnering from investors.
Investors and analysts are optimistic that $TUK tokens are headed toward a positive trajectory.
Does the project substantiate the spotlight, however?
Let’s take a look.
A project with a purpose
A multitude of crypto projects have emerged in the last few years as the industry’s technical and financial barriers lowered. But few have proven their worth. In fact, a majority of them faded into oblivion due to lack of engagement and community support, which in turn dragged down their value to near zero.
Although blockchain technology has the potential to promise increased transparency and efficiency, only a handful of projects have taken advantage of it. The primary reason behind the downfall of a majority of cryptocurrencies is anchored around market relevance and implementation.
Outlining ambitious visions in white papers is not enough to win investors and retain their attention in the long run.
This is where eTukTuk enters after five years of intense research and development. The novel blockchain-based initiative has a tangible real-world objective to revolutionize public transportation systems in developing economies for the better.
Why developing economies?
eTukTuk’s narrowed focus on the public transportation sector in developing economies underlines the market relevance of eTukTuk. There are many reasons that drive eTukTuk’s decision to concentrate on public transportation systems in developing economies.
The primary reason is that the current EV market is inaccessible to a majority of people who live in developing economies. But the fact remains that developing economies require electric vehicles (EVs) just as much as developed economies, if not more.
Their higher population density and lack of access to sustainable alternatives emit a substantial carbon footprint. The public infrastructure for sustainable users is also limited across various sectors in these countries, primarily due to the significant initial investment required.
It is hard for EV companies to penetrate demographics in developing economies as they are notorious for their initial investment. Despite the fact that EVs have substantially lower operational and maintenance costs, EVs make no sense to the poor and the middle class. They can’t afford fossil-fuel private vehicles, let alone EVs.
In response to this conundrum, eTukTuk has decided to narrow down its focus to the public transportation system. The public transportation sector sees heavy use in these countries due to their affordability.
But yes, they are not as convenient as private vehicles, except Tuk-Tuks. They are popular among both locals and tourists in terms of affordability, convenience, and privacy. They are not without shortcomings, however.
The most important of these is their carbon footprint, which is substantially larger than Tuk-Tuks.
The appeal of eTukTuks
eTukTuks are environment-friendly as they depend on electricity instead of fossil fuels. But they have more to them than just the sustainability factor. For example, the development of eTukTuks spans a five-year period.
The intense period of research reflects the project’s commitment to creating a resilient project. For example, the meticulous design of eTukTuk has streamlined the number of components required for development to just 200 while enhancing speed, safety, and efficiency. It enables local manufacturing, significantly reducing the costs associated with imports.
Multiple safety features, such as roll-cages, LFP batteries, and AI-powered guidance systems have been integrated into the design as well.
But what truly sets eTukTuk apart is its concept of a full-fledged EV ecosystem that extends beyond manufacturing EV tuk-tuks. The project has incorporated a payment system powered by blockchain technology and a network of electric charging stations dedicated to EVs.
The holistic approach beyond just vehicle production has helped the project attain vast investor interest from crypto communities.
eTukTuk harnesses the power of AI to empower our drivers.
Through real-time insights delivered via in-app notifications, AI guides drivers on optimal times and locations for recharging.
By instantly assessing ride demand, charging patterns, traffic, and more, we ensure… pic.twitter.com/hOjKMMqxXH
— eTukTuk (@eTukTukio) October 28, 2023
High-profile partnerships
eTukTuk is forming partnerships with industry leaders to widen its presence in the market. It is stepping into the Sri Lankan market in the first stage, with a collaboration with the Capital Maharaja conglomerate and the crypto community AsiaTokenFund.
The strategy not only expands the project’s foothold, but also helps it raise awareness about the project and its value propositions among crypto users and investors.
There is also an option to engage in token staking, which further gives attractive APYs on their holdings, in addition to the token’s value appreciation. eTukTuk has also incorporated a system known as Power Staking, which serves to uphold the security of the underlying blockchain system. It enables participants to earn appealing rewards in $TUK tokens without being present locally like eTukTuk drivers or Territory Partners.
eTukTuk drivers benefit from up to a 400% increase in their income due to the low operational and maintenance costs of Evs, while Territory partners earn a portion of the fees paid by drivers. They are responsible for installing and maintaining charging stations.
All three participants together establish a mutually beneficial arrangement.
With the ongoing presale, retail investors can purchase and hold $TUK tokens at low costs. It allows them to reap returns from their small initial investment as the project expands in Sri Lanka and beyond.
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