KuCoin AMA With TNA (BN) — Integrating Name Assets into the Bitcoin Ecosystem

Dear KuCoin Users,

Time: August 15, 2024, 12:00 PM - 1:14 PM (UTC)

KuCoin hosted an AMA (Ask-Me-Anything) session featuring the Co-Founder at TNA, Lindy, in the KuCoin Exchange Group.

Official Website: https://tna-btc.com/

Whitepaper: https://tna-btc.gitbook.io/tna-whitepaper-2

Follow TNA on X and Telegram

Q: Can you provide a brief overview of TNA and its main objectives within the Bitcoin ecosystem?

Lindy: You guys might have heard about different types of assets on the Bitcoin mainnet, like Ordinals, Runes, and the RGB assets. These assets all follow different standards, which means they don't always work smoothly together. For example, assets based on Ordinals can't easily be used in apps designed for Runes. Plus, we're seeing more BTC layer 2 coming online, most of which are EVM compatible chains that don't naturally support Bitcoin mainnet assets.

This situation creates two big challenges: interoperability and security. Interoperability is about making sure that the assets you own can be used across the entire Bitcoin ecosystem, no matter which standard or protocol they follow. Security, on the other hand, is about ensuring that when you move these assets around, the process is decentralized and secure, without relying on any single point of failure.

That’s where TNA comes in. Our protocol is designed to be the naming and data availability (DA) layer for the Bitcoin network. What does that mean? It means we’re creating a universal naming system that not only simplifies how you use Bitcoin addresses but also makes it easier for different types of assets—like those based on Taproot, BRC20, and ERC721—to work together seamlessly. By doing this, TNA helps drive smoother interactions and better management of different assets within the Bitcoin ecosystem, making it more scalable and user-friendly for everyone involved.

Q: What are some of the key technical innovations that TNA brings to the Bitcoin network that sets it apart from other naming protocols?

Lindy: TNA leverages the Taproot Assets Protocol, which offers advanced programmability compared to other Bitcoin asset types like Ordinals and Runes. This allows us to integrate directly with the Lightning Network and enable powerful features such as subname issuance and token-gated functionalities—all without relying on third-party contracts.

As a result, our names are more than just identifiers; they become versatile tools within the Bitcoin mainnet, providing enhanced security and scalability. A critical innovation at TNA is our Data Availability (DA) framework.

Since TNA supports a variety of asset types across both Bitcoin's mainnet and different Layer 2 solutions, having a standardized way to manage this data is essential. Think of our DA framework as a universal language that allows all assets—whether names or other digital assets—to communicate and interact seamlessly.

We achieve this through hierarchical data verification (HDV), which acts like a multi-level review process. Each level ensures that data is accurate and complete before it moves to the next, preventing errors from slipping through. Additionally, our use of blob-based storage allows us to efficiently manage and store large amounts of data, ensuring that our system scales smoothly as Bitcoin evolves.

TNA’s DA framework is capable of supporting a diverse range of applications and assets —whether on the mainnet or a Layer 2— their data is accessible, standardized, and verifiable. This seamless data management is key to ensuring that as Bitcoin grows, the wide array of assets it supports can work together harmoniously, enhancing the overall functionality and user experience of the network.

Q: What are the roles of BN tokens in TNA’s ecosystem, and how do they contribute to its growth and sustainability?

Lindy: Yep. Our token name is BN, short for "Bitcoin Names". BN is definitely the backbone of the TNA ecosystem, powering various functions and rewarding active participation. It has several exciting potential uses: For instance, $BN holders could stake their tokens to issue subnames, lower their registration fees, and access exclusive airdrops and perks from TNA and its partners.

Additionally, $BN could play a crucial role in TNA Core—our Data Availability (DA) layer for Bitcoin—where participants might be able to contribute as node operators and share in the protocol's success. What makes $BN even more powerful is TNA’s unique token-name dual flywheel model. This model creates a cycle where $BN holders gain special rights to names, and name holders, in turn, earn $BN rewards and other benefits. It’s a self-reinforcing system that boosts value and engagement across the ecosystem.

As TNA continues to grow, $BN is positioned to be a valuable asset especially for those who get involved early. We're also working on some exciting new features related to $BN that will benefit both our token and name holders, so stay tuned!

Q: Can you share more about the team behind TNA and how their experience contributes to the success of the project?

Lindy: Sure! I'll start with myself. I'm Lindy, co-founder of TNA and I'm leading our efforts to grow TNA's ecosystem. Before joining crypto, I worked at Microsoft, where I focused on product development. Over the past few years, I've worked across the US, Africa and Asia helping various projects to educate communities and build strong networks in crypto.

Our team is made up of people from some pretty solid backgrounds. Along with my own experience at Microsoft, we’ve got other developers from Microsoft who were also deeply involved in creating and scaling products.

We’ve also got team members with experience from Wall Street, bringing valuable insights into the economic and strategic aspects of the project. And, we have experts from the fintech sector who’ve been leading digital finance innovations, helping us connect traditional finance with the decentralized world we’re building.

Q: How does TNA plan to engage with developers and the broader crypto community to drive adoption of its protocol?

Lindy: We know that to drive adoption of our protocol, we must empower developers who can bring new utilities and applications to life around our naming system. That’s why we’ve set aside a portion of our tokenomics specifically to support developers. We'll be offering grants, running competitions, and providing rewards to encourage innovative solutions using TNA.

If you’re working on something consumer-facing and want to integrate with our naming system! Or if you’d like to leverage our name holders to bootstrap your own user base! We’re here to help! We’ve already provided some foundational APIs, which you can find in our whitepaper on our website. If you’re interested, feel free to DM me on Telegram, and let’s discuss how we can collaborate.

Our broader community is absolutely vital to TNA’s success. We already have a strong base with tens of thousands of asset holders, name holders, followers, and KOLs who actively support us. We’re always exploring new ways to reward and engage them. You can see this in action through our ongoing airdrop program, where our name and asset holders are receiving $BN tokens. But this is just the beginning.

Soon we’ll be rolling out new features that will allow our name and token holders to farm continuous benefits. Our goal is to create a system where users can prove their identity and status through their BTC names, making it easier for projects and partners to identify and engage with valuable users. By fostering this vibrant ecosystem of developers and community members, we’re building a self-sustaining community that continually adds value to the Bitcoin network and beyond. Stay tuned for more, because we’re just getting started!

Q: What impact do you expect TNA to have on the broader Bitcoin ecosystem in the next few years?

Lindy: The Bitcoin ecosystem is still in its early days, much like the foundation of a skyscraper that’s just starting to rise. We’re witnessing the construction of essential infrastructure that will eventually support something much larger.

As Bitcoin becomes more widely accepted as both a currency and a store of value in the real world, people are going to look beyond just holding BTC—they’ll want to see what new possibilities it can unlock. This is where TNA comes in.

Similar to how ENS contributes to Ethereum, over the next few years, we see TNA playing a major role in shaping the future of Bitcoin by making it more user-friendly and scalable.

Our naming service and data availability framework will streamline how assets are handled, making Bitcoin not just easier to use but also more powerful and versatile. Imagine Bitcoin not just as a digital gold, but as a platform that supports a whole range of decentralized applications—applications that could help people accumulate wealth and manage their assets in entirely new ways.

By standardizing data protocols and boosting cross-chain interoperability, TNA is poised to unlock these new use cases for Bitcoin. We’re helping transform it from a simple store of value into a dynamic ecosystem, ready to drive the next wave of Bitcoin adoption and innovation. With TNA, the future of Bitcoin isn’t just about holding—it’s about building, growing, and creating new opportunities for wealth accumulation and economic empowerment.

Q: Can you explain the technical or practical reasons why you chose Bitcoin over other blockchain platforms for your project, and how do you plan to handle any scalability or transaction cost issues that may arise?

Lindy: Interesting question! Bitcoin ecosystem is exciting! Remember the Ordinals and Runes. There are just so much excitement ongoing in this ecosystem - new assets, new layer 2 chains. To a builder that means a lot of great opportunities. BTC as a cryptocurrency also has the largest market cap of all cryptos, which means the potential is huge. In terms scalability issue, that's also an interesting point - we utilize Taproot Assets, which is supported by the Lightning Network. Meanwhile as I mentioned we have built out our own data availability layer for BTC. If you are interested, please read our yellow paper on our website!

Q: Do you have a Telegram Group, YouTube Channel, Medium, Discord, Twitter and Website for this project? Where can I get the latest information, and what is the latest plan for your project?

Lindy: Here’s our Telegram, Medium, X (Twitter), and Website. The Telegram group and X (Twitter) would be the best source to get our latest project info!

Q: Do you allow suggestions and feedback from the community? Are they allowed in decision making? Do you put community into consideration?

Lindy: Yes! I love this question! As mentioned, we highly value our community. If you join our Telegram group, you'll see that many members are very active and have contributed a lot of great ideas to the project’s development.

Q: Almost 80% of investors are focused purely on the price of a token in the short term of understanding the real value and health of the project. Could you tell us the motivations and benefits for investors to hold your token in the long term?

Lindy: This is a very genuine question —that's true, in every market that can trade, there will be short term, long term, and different types of investors/traders. Crypto is no exception. As a builder, we focus on long term building, and our tokenomics is designed to boost growth and also reflect growth. As I said, the BTC ecosystem is still so early —there are so many exciting innovations coming up. There's just no reason for us to be short-sighted.

Q: Do you have Whitepaper? If yes, please share it with us. Do you have plans for pre-sale? Where can we join?

Lindy: Here's our whitepaper. Gempool is ongoing! Stake your $KCS, $USDC or $USDT to earn free $BN tokens!

Q: Will you develop another chain like TON in future?

Lindy: Hey! I am glad that you asked this. We are born from BTC but the whole purpose of Bitcoin names is interoperability—meaning you can use one name to interact with multiple networks. TON is an ecosystem we are highly interested in. We might develop a mini-app on Telegram and expand into TON and beyond.

Q: Can you give an overview of your Tokenomics, and the UTILITY of Token?

Lindy: Yes! Here are a few potential utilities of the $BN token:

- Staking to participate in governance

- Staking to issue sub-names

- Lower name registration fees

- Register short character names

- Access to airdrops & other benefits from TNA and its partners

- Staking to run DA nodes to earn potential fees

We are cooking something that would boost our token value. Stay tuned!

Q: Everyone thought about a long term goal but I want to ask what's your short term goal till the end of the year 2024?

Lindy: Short term goal till the end of 2024 would be integrating with the latest and upcoming BTC layer2's to serve the entire BTC network as a DID system and value booster!

🎁 Participate in the pSTAKE Finance AMA quiz now for a chance to win $10 in BN.

The form will remain open for five days from publishing this AMA recap.

KuCoin and TNA have prepared a total of $2,000 in BN to give away to AMA participants.

1. Pre-AMA activity: $800 in BN

2. Free-ask section: $50 in BN

3. Flash mini-game: $400 in BN

4. Post-AMA quiz: $750 in BN

Sign up for a KuCoin account if you haven’t done so yet, and ensure you complete your KYC verification to be eligible for the rewards.

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