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(1) Huge thanks to @altcoinbuzz for hosting us on the eve of the Excalibur Hard Fork that enabled #TomoX
Today anyone can register a DEX via http://Relayer.tomochain.com
Next week TomoX DEXs will finally launch
This now includes access to a killer new decentralized Lending feature! https://twitter.com/TomoChainANN/status/1260233506069725185
Today anyone can register a DEX via http://Relayer.tomochain.com
Next week TomoX DEXs will finally launch
This now includes access to a killer new decentralized Lending feature! https://twitter.com/TomoChainANN/status/1260233506069725185
(2) TomoX offers truly decentralized Lending
All loans are peer to peer with smart contracts as custodians. No centralized party here
Borrowers choose which asset to collateralize: BTC, ETH, or TOMO.
Such choice provides incredible flexibility not found on other platforms
All loans are peer to peer with smart contracts as custodians. No centralized party here
Borrowers choose which asset to collateralize: BTC, ETH, or TOMO.
Such choice provides incredible flexibility not found on other platforms
(3) The Lending experience is similar to spot trading in its interface.
Borrowers & Lenders set their own rates, amounts & duration
All loans have a set term to maturity. TomoX offers 1 Day, 7 Day & 30 Day options for now
To borrow, set the Interest rate, amount & collateral
Borrowers & Lenders set their own rates, amounts & duration
All loans have a set term to maturity. TomoX offers 1 Day, 7 Day & 30 Day options for now
To borrow, set the Interest rate, amount & collateral
(4) We designed Lending to protect users
Our decentralized price feed is updated every 2 seconds to combat unexpected price drops
All loans are collateralized with auto top-ups too so during price volatility borrower assets are automatically added to prevent liquidations
Our decentralized price feed is updated every 2 seconds to combat unexpected price drops
All loans are collateralized with auto top-ups too so during price volatility borrower assets are automatically added to prevent liquidations
(5) Paying back loans is quick.
At the time of maturity, the smart contract automatically transfers the borrowed asset + interest to the lender & unlocks the borrower's collateral.
Loans can also be paid back early too, though it is not encouraged & includes a small penalty
At the time of maturity, the smart contract automatically transfers the borrowed asset + interest to the lender & unlocks the borrower's collateral.
Loans can also be paid back early too, though it is not encouraged & includes a small penalty
(6) Exchange Owners can opt-in to allow for Lending on Day 1 & receive fees from
- Any user that borrows on their DEX defaulting to 0.5% but adjustable.
- Cancellations from either the Lender or Borrower equals 1/10 of the Borrower service fee
- Any user that borrows on their DEX defaulting to 0.5% but adjustable.
- Cancellations from either the Lender or Borrower equals 1/10 of the Borrower service fee
(7) Masternode operators now have a new source of income too
They also earn for lending operations when assigned to create a block containing them:
- 0.01 TOMO for lending matches
- 0.001 TOMO for cancellations
This can really add up as users & lending volume scales
They also earn for lending operations when assigned to create a block containing them:
- 0.01 TOMO for lending matches
- 0.001 TOMO for cancellations
This can really add up as users & lending volume scales
(8) Decentralized lending is another valuable use case enabling greater utilization of & driving more value through the blockchain
It will generate entirely new income streams for lenders, Masternodes & DEX Owners
It also won't be limited to just DEXs down the road either
It will generate entirely new income streams for lenders, Masternodes & DEX Owners
It also won't be limited to just DEXs down the road either
