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An insight into TomoChain, TOMO, and TomoDEX Exchange

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TomoChain is an incredibly ambitious project. Let’s take a deeper dive on TomoChain and what it does.

TomoChain offered its ICO on March 1st 2018 where it was able to raise $8.5 million USD. Users could purchase TOMO – the native token of TomoChain with ETH for 0.25 USD per token.

TomoChain is a popular extensible Proof-of-stake Voting(PoSV) consensus that is powered by blockchain, and has been able to fetch 2000 TPS and a near $0 gas fee without the need to give up decentralization. In simpler words, it is a decentralized project running on the blockchain that solves the scalability issue by increasing TPS which is Transactions per second. 

The entire product ecosystem lets users of all scales build feature-rich blockchain projects and DApps using its EVM-compatible platform. The popular platform has features that aim at improving speed, provide better privacy, and fulfill overall liquidity needs. 

PoSV token holders are incentivized to stake across a huge network of 150 top-notch master nodes and control the performance and governance on an equal note.  The performance layers added due to PoSV offer several benefits like enhanced security and reduced risks of blockchain fork, faster transactions with rapid confirmations to eliminate checkpoint miseries.

Validators Include: Binance, KuCoin, CoinGecko, HashQuark.

Did you know?

TomoChain has been in mainnet since December 2018 and is the largest Blockchain from Southeast Asia, with multiple businesses using their  technology. They are regularly highlighted as one of the larger blockchains on dapp.com and dappreview.com with respect to the value of transactions taking place. 

*Gas fees are nominal and oftentimes near free, and tens of thousands of transactions can be done for a single TOMO.  

How does TOMO Work?

The PoSV consensus mechanism is used by TomoChain to run the network with increased layers of security. It does not need any hardware as it uses staking to reach consensus. All that the user needs to do is to stake their TOMO tokens online after which you will get rewards for securing the TomoChain network. Anyone can stake TomoChain but there are only 150 masternodes in the system that can vote in the network. These masternodes are elected by the TOMO token holders.

Stakers can secure the network with the automatic validation of transactions that will also focus on decentralizing. The simple mantra is that when more people stake TOMO, the better it is for the network. It is hence advisable to stake TOMO not just to yield gains but also to increase the security of the system. 

tomochain

TOMO token

TOMO is the native token of the TomoChain network that runs the network by proffering the standard value for the chain functioning in similarity with Ehtereum. The token holds the key within the ecosystem as it is an important part of staking and masternodes operation. Tokens also are used to vote for the future path of the network. The role of the token in the network is unparalleled because it also helps in lowering the risks but as is the case with any blockchain project, the asset is still characterized by high-risk. 

TomoChain is secured by staking which is a process that involves holding tokens in a compatible wallet. With the staking of TOMO tokens, stakers can get rewards on a regular basis just as you do in the case of dividends earned on stocks. According to a source, the annualized ROI for TomoChain tokens or TOMO is 6.33%! Staking rewards for TOMO are paid out every 30 minutes which is a benchmark implying stakers do not have to wait for months and months to get their passive income. Staking here happens in two ways:

Mobile Staking for TOMO is available on iOS, Android and Google Play

Where Tomo fits in with DeFi:

TomoChain has been focused in the DeFi space since its inception. Their whitepaper was published explicitly stating that their focus was on introducing an open finance approach to blockchain. 

Notably their layer 1 protocol, TomoZ, which allows any token to be issued where the gas fee is paid by the token itself.

Recent News

The latest layer 1 protocol was recently greenlit on TomoChain, TomoX.  TomoX allows any business to launch a decentralized exchange in minutes. Everything is permissionless, on-chain, and performance is at the speed of their blockchain (2000 tps)  This is because it’s a layer 1 protocol (not layer 2 as is typical).

As such their Masternodes, that secure the network, also directly manage the order book and transactions. The native TOMO backs all of the activity and governance. And no gas fees. All fees are paid in the token being traded.

In Q4 of 2020, the team plans on launching their next Layer 1 Protocol, TomoP.  TomoP is the Privacy Suite which completes the trifecta of DeFi Layer 1 protocols on TomoChain.  The team says it will allow for the fastest privacy sends of TOMO, its tokens, and wrapped BTC, ETH, and more.

Additionally, there are plans to allow for Dapps to integrate private functionality. 

TomoDEX

tomodex
TomoDEX

This is an order-book which was built on the TomoChain officially launched this year in May. The Tomo Decentralized exchange is the first DEX which is powered by TomoX protocol mainly to create liquidity. 

TomoDEX at present supports 6 spot tradings and P2P lending. Users can use the TomoWallet to create an account on the TomoChain. 

The pairs it supports are TOMO/BTC, TOMO/USDT, ETH/TOMO, BTC/USDT, ETH/USDT, ETH/BTC, YFI/USDT, FTT/USDT, VNDC/TOMO. Its corresponding ETH, BTC, USDT are wrapped TRC-21 tokens swapped by the TomoBridge. The governance of the exchange is taken care of by its core team.

TomoDEX, specifically, is now listed on Coinmarketcap, CoinGecko, Dapp.com, DappReview.com and other sites.

Exchanges/Payment Services: 

TomoChain earned their listing on Binance by winning the 2nd ever community vote on BinanceDEX. 

They are also listed with FTX, Crypto.com, Simplex, KuCoin, MXC, BiKi, Changelly and many others.

Conclusion

TomoChain is an incredibly ambitious project, and its token serves several use cases. The ecosystem they are building is certainly very impressive and shouldn’t go unnoticed. They have also partnered with several blockchain projects like Constant, Terra Money, Morpheus Labs to access exclusive user bases.

defirev

TomoChain has a very passionate, loyal, and intelligent community that finds holding the TOMO token to be a very wise investment, especially when it comes to staking and the ability to run a masternode.

There are several areas where you can discuss the project with other enthusiasts and traders. Its most noteworthy communities are:


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Visor Finance (VISR): The YFI for NFT’s?

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Visor Finance: A smart user-controlled platform to interact with DeFi protocols

Within the realms of liquidity mining in the decentralized Finance sector, there are several issues that need to be supervised. Right from discoverability and reputation to programmability to the security of liquidity, the issues are hard to deal with. 

Visor Finance is a truly ground-breaking protocol that overcomes this issue and works towards building the liquidity mining protocol. Its solution aims to mint and interacts with NFT Smart vaults where users will have the ability to interact with the existing DeFi protocols but with their VIsor NFT’s. The team put up a great FAQ for beginners here.

This implies that in a Liquidity rewarding program, rather than depositing tokens in the project’s smart contract, the users lock them to their NFT and will still be eligible for rewards. 

Key aspects of Visor NFT

NFT’s or non-fungible tokens are everywhere. It was once just an obscure part of the blockchain technology world but its boom has led to a sudden embrace in its entirety. NFTs are usually associated with digital art or in-game assets but Visor Finance has implemented an NFT for a use case that is not related to art or game but it has been designed to interact with multiple DeFi protocols. 

Let’s take a look at some key aspects:

  • Visor NFT will act as the key interface between the user’s funds in custody and DeFi protocols to which they interact with. Every single Visor is easily identifiable by its singular string of digits which also is a complaint ERC721 id. 
  • During its liquidity mining program, the user funds are immediately unlocked without any counterparty risk during the mining program if needed.
  • Assets can also be assigned to diverse liquidity mining programs. This can be done without the need for the assets to leave user custody and attaching it to the required endpoints. 
  • The best part is that the user funds are quickly discoverable by liquidity mining programs. The platform users can then authorize staking and unstaking to their Visor NFT for reward distribution. 

Benefits of the platform

VisorNFT allows users to lock assets into several concurrent liquidity mining reward programs. The users will have the ability to sign ahead in time permissions for top DeFi platforms at the protocol level. The owner of the vault can submit a signature for assets in the vault to become collateralized. The user-controlled contract vault also has something called the Visor’s factory which will allow for the introduction of updates and extensions to the Visor NFT without breaking compatibility across reward platforms. There are several contract templates which the users can choose for minting new versions of the Visor NFT. 

Visor also aims to keep the NFT with its unique ID and immutability with several paths for upgrades and extensions. The purpose of the upgrades will be for easy migration of assets through the web user interface.

How do the upgrades take place?

The Visor smart vault factory boasts an ownable admin. The admin will be able to introduce new templates for upgrades and extensions to the Visor smart vault. They will also set the default behavior for active templates. Visor Finance strives to pass on these rights to the community and with more developments, it intends to make it their top priority. 

The Visor Factory will also have a default active template which will also double up as the stable release of the Visor Smart vault. Users will have the go-to choose alternative templates to mint for different reasons. The canonical release will be considered the default and will be put under upgradation consideration only after it has been discussed with top industry leaders.

visor finance

Liquidity Bootstrapping pool

The Visor community participated in the liquidity Bootstrapping pool with full zest and enthusiasm. The event in association with Balancer Labs was a huge success and marked the successful launch for Visor Fiance. More than 900 addresses participated in the Pool event.  450 people also went through the NFT minting process through the web UI and now own their Visor NFT smart vault. 

It also has brought about two governance proposals which were suggested by the Visor community members. Based on their suggestions and inputs, the team has adjusted the rewards program as given below:

Proposal 1: Additional communities for Phase 1 consideration

Proposal 2: Very active participants in DeFi, why not adding INV and RULER

The whitelist rewards will be extended to many other active DeFi communities which have active snapshots and run liquidity mining programs. It will also extend to those communities which run yield farms that will align with the use-case of Visor. The proposals at the end will allow for greater participation in phase one of the rewards program but will also accelerate the overall use of the Visor NFT. 

Hence, in essence, Visor NFT is a user-controlled systematic, hassle-free vault that holds assets, and provides safe exposure to DeFi protocols without giving up on custody. The Visor NFT is not about those properties that are manifested in the art of in-game assets.

They go a step ahead to utilize and assist in accelerating NFT’s capacity for being singular, unique for different purposes. For the user, this is a golden opportunity to expose their vault’s history of past interactions with DeFi protocols with Merkle roots of hoards of permissioned addresses, enhanced liquidity visibility more so at a network level.

The users are at liberty to choose their own strategy but they will never have to relinquish their assets. The community per se values being given the autonomy to choose and since the Visor NFT platform is all about user-control it will help in the wider and higher participation in future developments. The platform is now looking to integrate with projects to implement their rewards program in order to be compatible with the UniversalVault standard that the Visor NFT uses. 

Rewards go live Monday, more details can be found here.

visr

Visor Finance CoinGecko: https://www.coingecko.com/en/coins/visor

Visor Finance Vault: https://vault.visor.finance

Visor Finance Twitter: https://twitter.com/VisorFinance


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Delta Token : DEX Gamechanger Launching Soon. Will it be a Uniswap Killer?

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Delta Token : Here’s what you need to know

Delta Token is the tokenized version of partially locked liquidity that will run on the soon to be launched, next-generation decentralized exchange called CoreDEX.

The new Delta token launched by Delta Financial (from the cvault.finance team) will play a significant role in changing the norms of DeFi and DEX’s in general.

The cvault. finance team makes their new entry to space with CoreDEX, continually pushing the boundaries, and it’s as revolutionary as ever.

Uniswap was fantastic when it first came out and still is in many ways, yet it is fairly one-dimensional.

This next-generation decentralized exchange is like Uniswap on steroids. It’s a magnificent thing to behold-offering not just token swaps a la Uniswap, but also:

  • Collateralized loans
  • Options Trading
  • Leveraged Positions
  • Locked Liquidity futures
coredex

The connection between the underlying assets and options markets often takes longer because the options trading market is often marred by a highly illiquid nature vis-a-vis the spot markets. The poor liquidity position in the options markets has led to an undue and uncalled-for increase in premiums in options prices. The ratio of low liquidity and the high premium is inversely proportional which also makes them highly volatile. 

Delta Financial is entirely aware of the apparent loophole and has solutions and liquidity standards enabling it to deploy an on-chain options layer so that it can scale up to meet the market forces. 

Delta Financial has two types of liquidity:

  • Open vesting liquidity that takes place through the Delta vesting schedule
  • Permanent Locked liquidity

Open Vesting Liquidity

Apart from utilizing that locked liquidity, the CoreDEX will also offer a new type of liquidity provision called Open Vesting liquidity. With this new provision temporarily locked liquidity will be offered to those who are looking to participate in CoreDEX without the need to buy CORE LP. 

One of their team members 0xdec4f said this:

The team studied the trends in DeFi a lot and saw that while locked liquidity creates certainty, it does not attract as much capital inflow as “free” liquidity does. You can see this in protocols such as Uniswap or Sushi.

We saw billions in TVL being moved from Uniswap to sushi over a very short time and that shows also the disadvantage of this type of liquidity. If it’s free to move, it will move wherever it can get the most value.

That’s when the team realized that currently, we have two extremes when it comes to liquidity.
Free Liquidity (sushi/uniswap) <———> locked liquidity (CORE)

Both have advantages and disadvantages. Instead of picking up free liquidity and adding that to the platform we decided to develop a new form of partially locked liquidity and tokenized it, and that’s what Delta is.

The funds raised in the initial staking window will be used by the team to fund Delta’s long-term development. Out of the total, 26% will go to build strategic partnerships and 10% will be kept aside for research and development. 

CORE can be locked in the CoreDEX migration contract and earn fees from CoreDEX alpha and beta. This will be until the testing phase after which the platform will stabilize further and the user can be done as planned. The team is basically building two sections for coreDEX namely:

  • CORE will focus on sustainable yield generation. This will take place through token trading and lending products. 
  • DELTA will address the dearth of options and futures in the market and will go a long way in curbing and eliminating impermanent loss. 

The new product combinations combine to create a system for options liquidity providers. This way it will remove impermanent loss because the system has been built from the ground level to ensure liquidity provision.

Delta Token Vesting Schedule

Delta has an innate vesting mechanism built on its token which is pushed when a transfer is triggered. The vesting period is based on a block number schedule and is activated when Delta is transferred. 

Out of the maximum, users get 10% of the token balance while 90% is initially locked. Over a 2-week period, it will be released in a linear fashion. When a token transfer happens it rules out the vesting schedule. This way the immature tokens get distributed to the vault in the form of staking rewards. 

delta token vesting

It has come up with novel ways to create new instruments and tokenized products such as yield-producing volatility, great concept of futures based on locked liquidity, leveraged positions, collateralized lending, and much more. 

The users can trade all of these offerings easily in a highly liquid market. CoreDEX will run on a new liquidity provider token. LPs from CoreVault can easily trigger migration to the new core LP token. This way the platform will rebase its liquidity pool depending on the market conditions. The platform also ensures that the holders are provided with revenue sharing. 

The Core community is standing strong with three liquidity pools wherein CORE has around 60 million + in locked liquidity.


Delta distributor contract



Liquidity Rebasing Token (rLP)

The Delta team scores again with their outside of the box thinking with their liquidity rebasing token. They describe it here:

A new generation of tokens is in development which has an LP rebasing mechanism. It aims to limit the amount of LP tokens generated, making them more exclusive. Following an algorithmic rebasing raise, the LP mint price increases while the liquidity pool size stays the same. As a result, the price of minting new LP tokens becomes increasingly expensive to the point where they are unobtainable, creating a truly scarce LP token.

https://medium.com/core-vault/coredex-black-paper-ff51542fb8ac

Deep Farming Vault

The deep farming vault is yet another ingenious facet introduced by the Delta Financial team. The medium article states: “The Deep Farming Vault collects and distributes Delta, based on the unique Delta Vesting Schedule mechanism. Users deposit Delta or rLP tokens to earn a yield, the smart contract uses those assets to secure the unique liquidity deployments of the protocol.

In the deep farming vault users can earn both Delta tokens and ETH.

delta financial

Limited Staking Window

This is how you contribute to get delta tokens before it officially launches.

As of 2/25/21, nearly 5000 ETH has been raised and there are 6 days left in the limited staking window.

Those contributing are hoping to replicate the out-of-this-world ROIs they achieved during the cvault.finance launch. The ambition of this project is incredible, and if it succeeds would be a total game-changer in decentralized finance.

You can learn more about the details of the limited staking window here.

delta token


If you are contributing, make sure to use this to receive 10% bonus in ETH on your contribution.


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BAO FINANCE CRYPTO: WHAT IS IT?

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BAO FINANCE CRYPO TAKING OFF! WHAT IS IT?

Bao Finance crypto token has exploded recently with unprecedented growth due to its numerous unique features. Bao Finance focuses clearly on providing a fair and equitable distribution and the creation of synthetic assets. It is an innovative second layer for synthetic assets that have been built on top of Uniswap, SushiSwap, and Balancer.

Bao Finance will use an upgraded version of the SushiSwap farming infrastructure and intends on capitalizing on the yield farming distribution model. However, at present, the APY is very attractive to farmers.

The BAO Finance crypto token acts as the governance token for the community-run project. It also is backed by an insurance fund where all the BAO fees get accumulated. 

Bao Finance crypto
Sample Menu

BAO creates a second-layer protocol and the users will utilize the assets from Uniswap, SushiSwap & Balancer to take part in the BAO ecosystem. BAO finance can also be seen as the first L2 DeFi that aims to add its protocol’s features to existing infrastructure. Users will be able to generate synthetic assets by using their LP tokens from other protocols. This has many benefits as users will be able to:

Earn fees and yield rewards by being a Liquidity provider in Uniswap, SushiSwap, and Balancer.

They will also be able to earn rewards in $BAO by staking their LP tokens as collateral. They also can issue furthermore, synthetic assets to invest in other assets. Essentially speaking BAO finance focuses on early distributive equity and the generation of synthetic assets. 

Yesterday, February 4, Hotbit launched BAO Finance on its global section. The deposit function was launched yesterday at 9.00 AM UTC and the trading function was launched at the same time yesterday. The launch comes with the unraveling of 2 trading pairs – BAOFI/USDT, BAOFI/ETH for the same. Hotbit cryptocurrency exchange is also a cryptocurrency trading platform that integrates different forms of solutions like spot trading, financial derivatives, and DAPP also integrated into one platform. 

The most interesting thing about yield farming here is that there are several hundreds of LP pairs available to yield farms. Though users will only get 5% of the BAO token which they farm the remaining period will be the vesting period of over 3 years with a 1-year cliff!

bao finance crypto

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