Home Eco Friendly Blockchain Project ‘eTukTuk’ Nears $3M Mark in Crypto Presale

Eco Friendly Blockchain Project ‘eTukTuk’ Nears $3M Mark in Crypto Presale

Eco friendly blockchain project eTukTuk (TUK) is nearing a key milestone in its crypto presale, with close to $3 million raised. The new crypto-based initiative focuses on promoting sustainable global transportation solutions.

At its core, eTukTuk aims to replace traditional fossil fuel-powered tuk-tuks with eco-friendly electric counterparts called “eTukTuks,” powered by solar energy.

What is eTukTuk?

eTukTuk central objective is to transition developing countries from using traditional tuk-tuks that rely on fossil fuels to more sustainable, environmentally friendly electric vehicles.

By utilizing the Binance Smart Chain (BSC), the project boasts low transaction fees while aligning with environmental sustainability goals. 

eTuTuk’s mission is to drive developing countries towards a sustainable future through accessible electric vehicles (EVs) and charging infrastructure. 

eTukTuk

By introducing electric TukTuks, the project seeks to enable drivers to transition seamlessly to zero-emission transportation – a shift that not only reduces CO2 emissions but also promotes financial inclusion and fosters a green ecosystem in these nations.

One of the key features of eTukTuk include the native TUK token, used for transactions within the network, and the potential to earn staking rewards – currently over 90% APY.

Additionally, eTukTuk plans to leverage AI technology to optimize charging station locations and enhance operational efficiency, further solidifying its commitment to sustainability and economic viability.

Partnerships and Global Expansion Plans

eTukTuk has forged strategic partnerships with influential organizations to drive its mission forward. Notably, the project has collaborated with The Capital Maharaja Group and the Sri Lankan government, securing over 200 charging station locations across the country. 

This partnership indicates benefits for motorists and a 400% reduction in operating costs for drivers.

While Sri Lanka serves as the initial launching pad, eTukTuk has plans for further expansion, with its sights set on nations where tuk-tuks are a prevalent mode of transportation, such as Africa, Thailand, and India. This move aims to introduce eco-friendly eTukTuks to a broader market, further amplifying the project’s impact on sustainability and accessibility.

eTukTuk home

In Sri Lanka, eTukTuk has secured strategic locations in Colombo and will leverage AI technology to optimize the placement of charging stations along popular routes. This data-driven approach is designed to enhance driver efficiency and ensure seamless integration of the eTukTuk network into existing transportation systems.

Furthermore, eTukTuk has garnered support from the United Nations Development Programme (UNDP) in Sri Lanka. This collaboration aims to boost the adoption of e-mobility in the country, contributing to the creation of a greener, cleaner, and more inclusive Sri Lanka. 

Another aspect of this initiative involves converting traditional petrol three-wheelers to e-Tuk Tuks, easing the impacts of the economic crisis, enhancing mobility, and reviving small and medium enterprises (SMEs) as well as essential services.

Through these partnerships and strategic expansion plans, eTukTuk seems to be well-positioned to drive the transition towards sustainable transportation solutions, not only in Sri Lanka but also in other regions where tuk-tuks play a vital role in daily commuting and commerce.

Hard Cap and Tokenomics of eTukTuk Presale

The hard cap for eTukTuk’s presale is set at $10.7 million, representing the maximum amount of funds the project aims to raise during this fundraising phase. Regarding tokenomics, eTukTuk has strategically allocated its total token supply of 2 billion TUK tokens. 

Notably, 21.5% of the total supply (430 million tokens) is dedicated solely to staking rewards, incentivizing long-term investment and participation. Other allocations include 7% for liquidity and 9.75% for the presale, indicating a balanced and sustainable distribution. 

The project’s team has also passed a security audit by Coinsult, enhancing investor confidence in the integrity and structure of the TUK token.

The project’s marketing efforts have included sponsored videos on some of the largest crypto YouTube channels, such as a review by Austin Hilton for his 266,000 subscribers.

Currently, 1 TUK is priced at $0.0295, and investors can purchase TUK tokens on the eTukTuk.io website using BNB, USDT, or debit/credit cards. After the conclusion of its crypto presale, eTukTuk plans to list the TUK tokens on multiple CEX and DEX platforms.

Conclusion

As eTukTuk garners support during its presale, raising substantial capital, it presents a vision for sustainable transportation solutions. By leveraging blockchain technology and electric vehicles, the project aims to address environmental concerns while promoting economic opportunities in developing nations.

However, even though eTukTuk’s mission aligns with noble goals, investors should carefully evaluate the project’s roadmap, fundamentals, and overall viability before making any financial commitments. 

Investors should also watch how the broader crypto market performs in the weeks ahead of highly-anticipated Bitcoin halving that’s now just days away.

Related

About ReadWrite’s Editorial Process

The ReadWrite Editorial policy involves closely monitoring the tech industry for major developments, new product launches, AI breakthroughs, video game releases and other newsworthy events. Editors assign relevant stories to staff writers or freelance contributors with expertise in each particular topic area. Before publication, articles go through a rigorous round of editing for accuracy, clarity, and to ensure adherence to ReadWrite's style guidelines.

Petar Jovanović brings years of experience in the crypto industry to ReadWrite. With a strong belief in the potential of the web3 market since 2017, he's passionate about sharing valuable insights and knowledge. Based in Serbia, Petar graduated in Economics at the University of Niš, and went on to become the Head of Content at Captain Altcoin, an online magazine covering all things blockchain. His work has also been published on BeInCrypto and German site Kryptozeitung. Feel free to connect with Petar to discuss the exciting world of cryptocurrencies and decentralized technologies.

Get the biggest tech headlines of the day delivered to your inbox

    By signing up, you agree to our Terms and Privacy Policy. Unsubscribe anytime.

    Tech News

    Explore the latest in tech with our Tech News. We cut through the noise for concise, relevant updates, keeping you informed about the rapidly evolving tech landscape with curated content that separates signal from noise.

    In-Depth Tech Stories

    Explore tech impact in In-Depth Stories. Narrative data journalism offers comprehensive analyses, revealing stories behind data. Understand industry trends for a deeper perspective on tech's intricate relationships with society.

    Expert Reviews

    Empower decisions with Expert Reviews, merging industry expertise and insightful analysis. Delve into tech intricacies, get the best deals, and stay ahead with our trustworthy guide to navigating the ever-changing tech market.