As most of you probably know, we had scheduled TokenGen 2.0’s release for the end of April, or the beginning of May this year, however we have decided to push this date to the end of May. As this is due soon, we wanted to share our vision for the new version of the ultimate smart contract creator for the token economy.
With the first version of TokenGen, which was more of a live demo and a showcase of the tool’s functionalities, we wanted to show the community what TokenGen will essentially do, i. e. allow users to sift through a variety of smart contract templates and select the ones they need for their project.
However, the 1.0 version is missing a few key templates that most, if not all, token crowdsales utilize nowadays. With the 2.0 version, we aim to add them so that we can bring TokenGen closer to the current TGE standard. Here are the new smart contract templates that we will be adding with the new release:
- Whitelistable crowdsale – as KYC and AML become a larger and larger part of TGEs, more and more projects are deciding to implement KYC and AML procedures, even if they are not legally obliged to do so by local laws. So, a whitelist option is absolutely essential for every long-term and successful project.
- Pre-sale – raising funds prior to the main TGE is now a standard procedure as projects aim to increase their capital and market their project and crowdsale in the best way possible. In order to meet this demand, we will add a pre-sale smart contract template.
- Token safe – locking tokens for the core team, advisors, etc, has been around since the start of TGEs. It shows, at least to some extent, the team’s commitment to the project and that’s a good sign for potential investors. TokenGen 2.0 will feature a token safe smart contract template, which will allow users to allocate tokens to certain groups (core team, advisors, etc) and also allocate a specific amount of tokens to each address in each group. Additionally, each group will have its own release date i.e. the date and time when the tokens will be released to their owners.
- Bounty program – this template is not set in stone for the 2.0 version yet, as there are a lot of things to consider, but what we want to create is an option for users to automate a bounty campaign on Bitcointalk as well as a smart contract template that will allow for easier distribution of the bounty program tokens.
Along with the new smart contract templates, we will add the following:
- Changelog page – we are going to create a dedicated changelog page, where users will be able to follow TokenGen development updates. It will be available at https://tokengen.io/changelog.
- UI improvements – as user friendliness is one of the main ideas of TokenGen, and the FT ecosystem as a whole, we will make various improvements to the UI in TokenGen 2.0 in order to better the overall user experience and effectiveness of the tool.
TokenGen 2.0 Release
As mentioned in the beginning of this blog post, TokenGen 2.0 is now scheduled to be released at the end of next month. Almost all of our efforts have been directed to developing TokenGen since our crowdsale ended and we have followed our plan for the tool closely.
However, as TokenGen evolves, we are getting more and more ideas as to how to improve it and what features to add. Naturally, we want to include as many of these as we can in the 2.0 version. But we also don’t want to release a buggy tool that hasn’t been tested properly, so we have decided to extend the development phase for TokenGen 2.0 to the end of May.
This extra time will allow us to leave no bug unsquashed, but also to perfect the smart contract templates – TokenGen’s core building blocks.
As we’ve already said, our goal is to make TokenGen the go-to tool for smart contract creation in the token economy and, since our focus has always been on quality, pushing the release date a little is the right thing to do.
Bounty Program Reminder
We want to use this occasion to quickly remind bounty program participants to check and verify their stakes and tokens if they haven’t already done so. After FT is listed on a centralized exchange and it becomes tradeable, we will begin the bounty tokens distribution process and when that happens, no further changes will be made to stakes or tokens allocated to each participant.
In short, TokenGen 2.0’s release date is now the end of May, as we aim to improve the tool and test everything extensively. It will feature at least three new essential smart contract templates, the fourth being as of yet a question mark. Also, we will create a dedicated changelog page for TokenGen and make various improvements to the UI.
Pushing the release date of TokenGen 2.0 to the end of May will give us the extra time we need to implement some of our new ideas and deploy a quality update. We want to meet current TGE standards with the new version and advance another step closer to our vision for the tool.