Troy (TROY)

1. What is Troy (TROY)?

Troy provides full-stack crypto financial and brokerage services for institutional clients and professional traders.

Troy attempts to provide a uniquely valuable user experience:

• Localized brokerage services for different regulatory policies and user habits across geographies.
• Diversified cryptocurrency baskets across exchanges also calls for cross-exchange settlement.

Troy aims to build a healthy and sustainable economic model by offering a full stack of integrated crypto trading, custody and asset management services. The revenue model includes:

• Trading commissions and fees for settlement and custody services.
• Spreads on client's margin financing positions, cash or token financing.
• Fees for value-added brokerage services including asset management, automated risk management, data analytics services, etc.

Some of its key highlights include:

• Aggregated Trading: Troy provides users with full access to the aggregated liquidity of a group of crypto exchanges. Some key functions include smart order routing, flexible account management, dark pools, settlement service and automatic risk management.
• Data Analytics: Troy supports customer’s decision making with blockchain data, trading data, market data, social data and media data optimized by AI and quantitative models.
• Diversified Brokerage Service: Troy offers a range of services including real-time fund transfer and settlement, margin trading, OTC, etc.
• Full-Stack Asset Management Solutions: Troy is powered by co-location and low-latency access service to improve high-frequency trading algorithm performance. It also provides exposure to quantitative solutions with straight through processing, precise tick historical data and strategy assessment system.

Token overview and use-cases

The TROY token functions as a native utility token of the Troy platform, with potential use cases including:

1. The means of access to features in Troy Trade as a platform token and will be burnt dynamically by rebalance of supply and demand.
2. Staking for maintaining global broker-to-broker networks.

Some of its key elements include:

Troy is a global prime broker specializing in crypto trading and asset management. Troy provides crypto brokerage services for institutional clients and professional traders including spot & margin trading, derivatives, data, custody, lending and staking in a single account.

Troy is building a sustainable network of brokers who delegates customized brokerage services directly to clients in different target regions.

2. Products and metrics

Through a microservice and distributed architecture, stability, scalability, and security of the system can be guaranteed. Troy is divided into several core subsystems, each subsystem runs independently and can call one another. Main subsystems includes user subsystem, market subsystem, market subsystem, trade subsystem, management subsystem, gateway subsystem, common components, etc. The trade subsystem is the core subsystem, which contains the order transaction module, asset accounting module and scheduled scheduling, etc.

Users can create their new trading accounts on the Troy Trade platform with full functions of depositing, withdrawing and transferring their crypto assets. Users can also choose to link their existing trading accounts on crypto exchanges to Troy via APIs. Additionally, users can authorize other users to trade on their accounts. All authorization and management of accounts can be monitored by account owners using the risk management module.

In the trading interface, users can easily toggle between different accounts and execute cross-exchange trades. On the same page, the data monitoring and strategy trading panels enable users to observe real-time market changes and leverage the mainstream trading execution algorithm to improve trading efficiency.

Data analysis module provides users access to data of all the top-ranked exchanges, including spot trading, margin trading, and onchain data.

Troy's maximum average daily trading volume during this period reached ~$100 million, and the number of max daily orders executed was ~$2 million.

3. Economics and supply

3.1 Key metrics

3.2 Token supply distribution

The token supply distribution is as follows:

• Private Sale tokens comprise 12.00% of the total token supply. It was conducted in August 2019, for a total raise of ~$8.40MM worth of USDT at ~$0.007 per token, selling 12% of the total token supply.
• Binance Launchpad Sale tokens comprise 8.00% of the total token supply. Sale will be conducted in November 2019 for a total raise of ~$4.00MM worth of BNB at ~$0.005 per token, selling 8% of the total token supply. TROY/BNB exchange rate will be determined prior to day of sale.
• Team & Advisors tokens comprise 10.00% of the total token supply.
• Ecosystem tokens comprise 10.00% of the total token supply.
• Mining Rewards tokens comprise 60.00% of the total token supply.

As of November 2019, Troy has used approximately 10% of TGE funds according to the allocations below:

• 30% Development.
• 30% Stabilization Fund.
• 20% Ecosystem.
• 20% Compliance.

All funds raised in crypto are either self-custodied and stored in multi-sig wallets, requiring at least 2 out of 3 signatures from the management team or are stored with a qualified custodian. Spending of the funds requires approval of the board of directors.

TROY token distribution (%)

The following chart represents the number and breakdown of all TROY that are to be released into circulation on a monthly basis.

TROY token release schedule

4. Roadmap, updates, and business development

4.1 Roadmap & achievements

4.2 Updated roadmap

Q1 2020

• Launch Troy Trade V2.0 public version
• Satisfy compliance and regulatory requirements of target regions
• Establish strategic partnership with traditional financial firms and brokers

Q3 2020

• Launch Broker SaaS Platform
• Expand the global introducing broker network and engage in on-boarding introducing brokers partners

Q2 2020

• Implement decentralized trading and settlement functions
• Develop APIs and adopt off-chain channel techs

4.3 Commercial partnerships and business development progress

• IOST: IOST is building a high TPS blockchain infrastructure to meet the security and scalability needs of a decentralized economy. Troy Network will improve its scalability and usability utilizing the off-chain scaling technology from IOST.

• Celer Network: Celer Network is a layer 2 scaling platform that enables fast, easy and secure off-chain transactions. Troy will cooperate with Celer and adopt Celer Network’s novel and advanced state channel scaling technology.

• Harmony: Harmony is a fast and secure blockchain with key innovations in state sharding and peer-to-peer networking. Harmony will collaborate with Troy in devoting R&D resources towards research and development of layer-1 scaling solutions.

• Cocos-BCX: Cocos-BCX is a decentralized blockchain platform for digital game economy. Troy will work closely with Cocos-BCX to empower the trading of fungible tokens and non-fungible tokens in the blockchain games.

• Ankr Network: Ankr is a blockchain-based cloud computing platform. Troy and Ankr will together build a new kind of cloud service for trading data storage and settlement.

5. Project team

6. Troy's activity and community overview

6.1 Development activity

Troy is predominantly developing and hosting their code in 14 private GitHub repositories.

Private Github repositories

Baseline

Underlying public infrastructure services

4 Contributors74 commits

Trade

Order transaction, asset settlement, account settlement and other services

8 Contributors1,382 commits

User

User related functions and providing system authorization, signature verification and other services

9 Contributors632 commits

Exchange

Connect with global mainstream exchanges and provide communication services with exchanges

3 Contributors578 commits

Public Github repositories

6.2 Social and community activity

Community strategy

In the beginning, Troy will mainly focus on the Asian market, including Japan, Korea, China, Singapore and other south Asian countries. Troy will continue to expand into other regions as the ecosystem grows.

Troy's community mainly consists of:

1. Crypto Investors & Traders: the direct user base of Troy.
2. Brokers: brokers of Troy which build the global broker network for settlement.
3. Stakers & Relayers: responsible for updating and locking orders in the network as ordinary nodes and supernodes.
4. Exchanges: the providers of crypto assets, liquidity and custody service.
5. Ecological Partners: blockchain projects and reputable financial firms that contribute their resources to the Troy ecosystem.

Troy's current community growth strategies include:

• Media exposure: Troy will release additional articles on Forbes, The Block, CoinDesk, CoinTelegraph and many other leading media channels.
• Multi-party partnership programs: Troy has announced the Global Financial Partnership Program and Global Ecological Community Program to accelerate the development of the platform.
• Bounty program and ambassador program: Troy has announced the Troy Token Challenge and Troy Hercules Ambassador Program to increase more crypto user base and promote the project.

Troy's future community growth strategies include:

• Incentive mechanism: Troy will explore multiple incentive mechanism to attract users. Methods includes mining rewards, staking rewards, token burns, etc.
• Product-oriented integration partnerships: Troy will integrate with liquidity providers, wallets, and exchanges to expand user bases and distribute TROY tokens.
• License applications and acquisitions: Troy will open more fiat channels for customers, including KRW, JPY, USD and EUR, etc.

Community and social channels

Telegram
Telegram Announcement
Twitter
Medium

7. Appendix

7.1 Advisors

• Kevin Hsu (BlockVC, Founding Partner)
• Tony Gu (NGC Ventures, Founding Partner)
• Terrence Wang (IOST, Co-founder)

7.2 Documents

• Troy Overview
• Troy Q&A
• Crunchbase Profile

7.3 AMAs and videos

• Troy Introducing Video (English)
• Troy Introducing Video (Chinese)
• BlockVera Deep Dive AMA (English)
• JoinD AMA (Korean)
• Blockmanity AMA (English)
• CryptoChannel Philip Masa AMA (Japanese)