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Waves Review: Pioneering Decentralised Exchange Protocol

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Waves is one of the few cryptocurrency projects which has stood the test of time. Whereas Waves generally refers to the cryptocurrency itself (WAVES), it is also the name of the Waves Blockchain Platform. As you may have guessed, the Waves cryptocurrency is the token used on the Waves Blockchain Platform.

Initially created to simplify the process of asset tokenization and both crypto and fiat transfers, the Waves Blockchain Platform has since evolved to support smart contracts and dApp development. Waves is the currency used to mint tokens, process transactions, and reward miners within this ecosystem.

benefits of Waves
Benefits of Building on Waves

Since its inception, Waves has had a single goal in mind: the mass adoption of blockchain technologies. To achieve this goal, it has focused on user experience and building relationships with legacy institutions in both the public and private sector.

As you will see, Waves was and continues to be one of the leaders in crypto, introducing technologies such as one of the first decentralized exchanges (DEX) and securing multiple partnerships with legacy institutions at a time when other projects were just getting off the ground in the world of cryptocurrency.

Who Made Waves?

Waves was founded in 2016 by Ukranian theoretical physicist, Sasha Ivanov. Prior to making Waves, Ivanov was one of the co-founders of the fiat-to-crypto platform Coinmat. He was also heavily involved in the development of the NXT (NXT) blockchain, which was noted in the Waves whitepaper as being the primary inspiration behind the Waves Blockchain Platform.

Ivanov noticed a critical flaw in cryptocurrency and blockchain: ease of adoption. According to him, this issue is two-fold. First, the user experience of people buying, trading, and storing cryptocurrencies can be extremely confusing. As a result, learning how to buy, trade, and store cryptocurrency usually involves a steep learning curve, fundamentally making crypto less palatable to the average person.

Sasha Ivanov Waves
Shasha Ivanov. Image via Medium

The second issue is that legacy institutions are skeptical of decentralized, open source blockchains. Many consider the notion of things such as a distributed ledger as being a security risk rather than an operational benefit.

To make matters worse, those who are in charge of deciding whether or not blockchain solutions should be integrated into their business can have significant difficulty understanding the underlying technology, causing them to dismiss it entirely.

What Was Waves Made For?

Waves was designed to address the confusing cryptocurrency user experience and bring blockchain technologies to legacy institutions. It is dead set on creating the most seamless user experience possible by implementing interphases which are familiar to the average person.

In a 2018 interview Ivanov stated that the core Waves team consisted of 15 people, 10 of which focused exclusively on front-end development for the Waves ecosystem. These developers focus on imitating the layouts and designs found on the websites of entities such as banks.

To appeal to businesses, Waves has been actively negotiating and gathering feedback from private enterprises about creating the ideal blockchain solution. Ivanov has even gone as far as to create separate blockchain projects such as Vlostok and Waves Enterprise to satisfy the specific demands of businesses.

This dedication has created a favorable reputation for the team behind Waves in Eastern Europe, and even in Russia where cryptocurrency and blockchain regulations remain strict. Case and point: in 2017, Waves partnered with Burger King to create a “Whoppercoin” token which was redeemable at participating restaurants in Russia.

The Waves ICO

Waves raised over 16.4 million USD in Bitcoin during its ICO which lasted from April 2016 to May 2016. At the time, this was equivalent to about 30 000 Bitcoin and each Waves token was sold to investors at a value of 38 thousand Satoshis, which was around 19 cents USD.

In contrast to many other ICOs, the Waves token was created on its own native blockchain and was deposited into the wallets of investors on the Waves Blockchain Platform when the Waves main net went live a few months later.

The Waves Blockchain

The Waves blockchain has undergone many changes since it was first introduced in 2016. Despite these changes, its structure has remained the same. The Waves blockchain was initially coded in Scala (a modified version of Javascript) and built using the Scorex platform which is described in Waves’ whitepaper as “an approach [which uses] current network state as an alternative to full transaction history” as reference for consensus. This allows Waves to avoid the ‘blockchain bloat’ experienced by some other cryptocurrencies.

The Waves blockchain was initially designed with two layers. The first is the “core” layer and it is centralized, consisting of ‘full nodes’ which have a complete record of all transactions on the blockchain and provide the computational power to maintain the network.

The second layer is the “external” layer and it is decentralized, consisting of more numerous ‘lightweight nodes’ which only hold a record of the most recent transactions and pass them on to full nodes to register them on the Waves blockchain.

If there is a discrepancy between transaction histories, the blockchain temporarily forks until the correct version is identified based on which fork lasts the longest. Lightweight nodes can also create custom program extensions to the blockchain using Javascript. These plug-ins do not actually modify the core blockchain and are instead likened to apps on the Apple App store or Google Play Store.

How is Waves Mined?

Consensus on the Waves blockchain is achieved through a novel mechanism dubbed Leased Proof of Stake (LPoS). Like Proof of Stake (PoS), each full node on the Waves blockchain that holds a balance of Waves has a chance proportional to its balance to produce a block.

The L in LPoS comes from the fact that lightweight nodes can “lease” their stake to any full node they want. This increases the chances that the full node will produce a block and receive a reward, which is then shared with the lightweight nodes who leased their stakes.

LPoS Mechanism
Overview of the LPoS Mechanism. Image Source

Although mining rewards are paid out in Waves, full node operators have the option of paying out rewards to lightweight nodes in other tokenized assets on the Waves blockchain. Initially, full nodes needed to have a handsome 10 000 Waves to contribute to the core blockchain.

In 2018, this was reduced to 1000 Waves after a community vote. The Waves community can vote to change the stake every 100 thousand blocks (roughly every 70 days) to account for the changing market price of the Waves token. This ensures that the barriers to mining are not excessively high and that miners are adequately rewarded.

What The Waves Blockchain Does

The Waves blockchain was initially designed to facilitate the transfer of fiat currency and cryptocurrency and to optimize asset tokenization. Using the Waves Platform, users could deposit numerous cryptocurrencies and fiat currencies through external “gateway” service providers.

These assets could then be sent through the Waves platform as tokens and then withdrawn back into their original fiat or crypto form through a gateway. All of this could be accessed by downloading the Waves extension on your browser!

LPoS Mechanism
Screenshot of Waves Browser Extension. Image Source

This can be a bit tricky to wrap your head around so here is an easy example.

Imagine you wanted to send 100 US dollars using the Waves Platform. You would either pay with a credit card or send a bank transfer to a gateway service provider such as Simplex. After Waves received payment, they would deposit 100 USD tokens to your Waves wallet.

You would then send the tokenized USD to your friend or family member who would then convert the 100 USD tokens back into 100 USD for a fee. They would then the same or similar gateway provider to send the money to their bank. This system was quite brilliant, because it shifted the burden of any Know Your Customer (KYC) and Anti Money Laundering (AML) regulations from the Waves Platform to the gateway service providers.

Regarding tokenization, any user could create a custom token in seconds on the Waves Platform for a fee of only 1 Wave. Most importantly, these tokens could be easily traded with other tokenized assets using the Waves Platform.

This was seen by many as a gamechanger in the world of tokenization, since other tokens generally had to built up a sizeable reputation before they could be traded on any exchanges for other assets. Waves has since added a myriad of functionalities to its platform and has likewise made changes to its blockchain which are best understood by examining their roadmap.

Waves Roadmap

Like many cryptocurrency projects, the Waves roadmap is bit tricky to follow. Waves laid out their first roadmap on Medium in 2017 and it detailed what it had achieved since 2016 and what they intended to accomplish by 2018.

In January of 2019, Waves outlined another roadmap with development milestones for that year. In August 2019, Waves shared an image in a Reddit thread of what they hope to accomplish in 2020-2021.

So far they have accomplished everything on their to-do lists, which included an upgrade to their blockchain called Waves-NG which increased the transactions per second (TPS) from 1 to 100, launching the Waves decentralized exchange (DEX), introducing the Waves blockchain explorer, and even creating a simplified coding language called RIDE used to make smart contracts.

Let’s take a closer look at their recent developments and it means for Waves going forward.

Waves Roadmap 2019

2019 brought in a new tide for Waves. The RIDE language was modified to allow for the creation of decentralized applications (dApps) on the Waves blockchain. This added a “third layer” to their blockchain and also introduced two new elements into the Waves ecosystem: smart assets and smart accounts (in laymen’s terms, programmable assets and custom conditions for confirming a transaction).

RIDE For dApps Waves
Overview of RIDE For dApps

Waves also shut down the Waves DEX and put the Waves Exchange in its place. As a hybrid cryptocurrency trading platform, the Waves Exchange is meant to combine the safety of decentralized exchanges with the benefits of centralized exchanges.

Waves Roadmap 2020 and Beyond

The image you see above is the final roadmap detailed by Waves. Unfortunately it doesn’t contain very many details and the Reddit thread it was posted in does provide any further clarification (note that VST is the token native to Vostok blockchain created for enterprise use by Ivanov).

Besides this image, the last public post from Waves which resembles a roadmap seems to be a Medium article from March of 2019. It details how Waves intends to be one of the pioneers of Web3.0 – a fast and more efficient internet which incorporates technologies like artificial intelligence, natural language processing, blockchain, and (hopefully) decentralization.

Waves Roadmap 2020
Waves Roadmap for 2020. Image via Reddit

According to the document, Waves must go “beyond the crypto-community” to achieve mass adoption of blockchain technologies including cryptocurrency. This article concludes with the following statement:

We don’t solely do blockchain tech any longer; it is just a part of a bigger picture. We’re becoming the first company that focuses exclusively on monetizable WEB3.0 applications. We want to become one of the first Googles or Facebooks of the future Internet.

Waves Price Analysis

At a glance, the performance of Waves as an asset is quite consistent with most other cryptocurrencies. Namely, upon introduction to the market in June of 2016, the price of Waves dropped from just over 1$USD to around 20 cents USD in the first two weeks (which was close to the cost per token at the ICO stage).

Prices remained flat until the 2017-2018 bull run, when Waves become one of the largest cryptocurrencies by market cap at its all-time high of over 18$USD per coin. With a circulating supply of 100 million, this gave it an impressive market cap of over 1.8 billion dollars at its peak.

Waves Price Performance
WAVES Price Performance. Image via CMC

Although Waves has not come close to regaining its previous highs, it has managed to hold a level of support of around 1$USD since then. This is in contrast to many other cryptocurrencies which were laid to rest in cyberspace after what was left of the retail investors fled the market following the December 2018 crypto crash.

Furthermore, those who participated in the Waves ICO are still in the green by a healthy 500%. Waves also remains one of the top cryptocurrencies by market cap, ranked 58th at the time of writing.

Where Can You Buy Waves?

If you are looking to buy Waves, you are in luck. According to CoinMarketCap, Waves has a whopping 132 trading pairs on over 2 dozen exchanges including the Waves Exchange.

This is not too surprising when you remember how adamant Sasha Ivanov is about building partnerships both inside and outside of the crypto community. Although not all of the exchanges Waves is listed on are reputable or particularly trustworthy, the list does include Binance, Huobi, OkEx, and Kraken.

Binance WAVES
Register at Binance and Buy WAVES

A quick scan of the market pairings on these exchanges shows a remarkably even spread of Waves’ roughly 33 million $USD daily trading volume. Although you do have to scroll a bit down the pairings until you see a household name like Binance, there is no shortage of trading volume taking place in the top 40 pairings.

This means that no matter what exchange you prefer to use, Waves is probably on there somewhere!

Waves Crypto Wallets

If you’re looking to store your Waves token, you’ve got plenty of options. We have actually covered a list of the Best Waves Wallets earlier this year.

Although Waves is built on the Waves blockchain, there are about a dozen digital and physical cryptocurrency wallets support its storage. Notable digital cryptocurrency wallets for Waves include Atomic Wallet, Trust Wallet, and the Waves Exchange/wallet. For the time being, the only hardware wallets which can store Waves is the Ledger Nano S and Ledger Nano X.

Whatever you do, do not be reckless and leave your Waves token on a regular exchange. Always remember the eternal mantra of cryptocurrency trading – not your keys, not your crypto!

Our Opinion of Waves

We like Waves. It is rare that a cryptocurrency project is able to make such incredible improvements in such a short period of time. Waves probably owes this to their more centralized structure.

Unlike most other cryptocurrency projects, the core blockchain is centralized in the hands of the Waves development team. Whereas the vast army of developers on other blockchains such as Ethereum must achieve some degree of consensus about a change or risk a fork, Waves is effectively immune to this problem.

Although this aspect of centralization may give Waves an advantage for the time being, it is unclear whether it will outperform similar projects in the space in the long term. Some of you may be familiar with the saying “alone you go faster, but together you go further”.

Waves’ development team is more than just Sasha Ivanov, but it does fundamentally consist of a small tribe of like-minded individuals. Conversely, genuinely open-source blockchains bring in external opinions and ideas. Even though these may take a longer time to implement, they bring the innovation necessary to provide the best solutions to issues like scalability, privacy, and decentralization.

Is Waves truly a “cryptocurrency”?

There is another peculiar issue in Waves’ approach to mass adoption as well. Ivanov has been very passionate about partnering with legacy institutions in finance, including payment providers and banks. However, almost every other cryptocurrency project is actively seeking to replace these very intuitions and may eventually succeed in doing so.

As decentralized blockchain technologies continue to erode the foundations of legacy institutions, Waves’ centralization and commitment to meshing in with the status quo may in fact push them out of the spotlight in a new world with decentralization as its ethos.

Funny enough, Waves’ marketing approach of effectively telling users not to worry about what is going on beneath the surface of their platforms certainly raises the eyebrows of your average cryptomaniac. Ivanov would probably respond by saying that the average person does not really give a Satoshi about what’s going on beneath the hood (and he probably has a point).

Waves vs. Ethereum

Although there are many competitors in this space already, most notably Ethereum, EOS, Lisk, and NEO, Waves stands out in its understanding of what it takes to achieve mass adoption of cryptocurrency and other blockchain technologies, even to the point of making the coding aspect accessible to the average person (as seen above).

Waves vs. Ethereum
Waves RIDE vs. Solidity. Image via Twitter

Furthermore, Ethereum is often referred to as the decentralized “world computer” from which anything can be built. In contrast, Waves is a partially centralized blockchain which supports a multitude of customizable “plug-ins”, smart contracts, and dApps.

Is Waves worth investing in?

We are not investment advisors so we can’t tell you where to place your bets in the wild west of cryptocurrency but in our opinion Waves is quite an interesting specimen as an asset.

Some of you may have noticed an uncanny detail in Waves’ information on CoinMarketCap. This is of course that the entire supply is also the circulating supply. Considering that not all Waves tokens have been mined, how is it possible that all 100+ million coins are currently in circulation?

Since the Waves blockchain explorer appears to be down at the time of writing, we must put our thinking caps on to solve this dilemma. The reason the circulating supply of Waves is also the total supply is probably due to the Waves Exchange.

Waves Total Supply
WAVES Coin Metrics. Image via CMC

Since the Waves Exchange is listed on CoinMarketCap, and because it is directly linked to the Waves blockchain (as a hybrid exchange), this means that the entire supply of Waves is technically available for trading even though it hasn’t actually been mined yet. This is because the entire supply of Waves is “exposed” to trading via the exchange’s connection to the Waves blockchain.

This is quite the clever sleight of hand by the Waves development team to effectively guarantee a high ranking of the coin. CoinMarketCap calculates market cap by multiplying the circulating supply by the market price aggregated from pairings on exchanges.

As such, it is no surprise that Waves was among the top 20 cryptocurrencies in 2017 when the circulating supply of just about every other cryptocurrency was not its total supply. While this might be sneaky, it is hard to say if it is nefarious.

What is concerning though is that the current total supply of Waves exceeds its maximum supply in CoinMarketCap. This was explained by a Waves developer 3 months ago in a Reddit thread as being due to “inflation” and refers concerned Redditors to a Medium article which no longer exists.

Conclusion

Waves is a cryptocurrency project which has so far delivered everything and more.

Although there are a few questionable details in its operations, its focus around adjusting to current users and intuitions makes it stand out from other cryptocurrency projects which are often more concerned with the architecture of their blockchains than whether or not the average person will understand or realistically use them.

Whether or not this vision will cause Waves to dry up in the new world of truly decentralized open-source projects is something that only time will tell.

Featured Image via Shutterstock

Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.


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Source: https://www.coinbureau.com/review/waves-protocol/

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Shiba Inu (SHIB) Rises to Range High

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Shiba Inu (SHIB) yesterday reached the range high where it has been trading since May 2021. If the token breaks out of that area, it could begin a parabolic rise.

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SHIB currently ranks as the 47th largest cryptocurrency by market capitalization, according to Coingecko. The main “dog competitor” and also the younger brother of Dogecoin (DOGE) broke out of the descending triangle pattern and validated the falling resistance line as support.

SHIB reaches the range high

Since the May 2021 declines, SHIB has been in a range between resistance in the $0.00000950 area (red rectangle) and support at $0.00000550 (green rectangle). Over a period of almost 4 months, the altcoin has repeatedly reached and bounced off these two areas.

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On 16 September, SHIB rose 26% to reach the resistance area again a day later. At the press release, this area rejected the price and left a long upper wick.

However, if the daily candle closes above $0.00000904, a higher high will be printed on the daily chart. Combined with the higher low (blue arrows) of 7 September, this could signal a reversal and the start of an upward impulse.

Chart by Tradingview

The possibility of breaking through the top of the range and continuing the uptrend is also confirmed by the growing volume signature. During the last two days, it reached the highest values since mid-June (red arrow).

Technical indicators confirm the possibility of the continuation of the uptrend. RSI has broken above the 50 line and is rising. MACD generated two positive momentum bars and the signal line is close to entering positive territory. The stochastic oscillator is heading upwards and is close to entering bullish territory above 80.

Chart by Tradingview

Descending triangle

The daily chart also shows the breakout from the descending triangle that occurred on 7 September (orange arrow). On that day, SHIB rose 24% and began a multi-day consolidation. It then rose to the top of the range at $0.00000950 and started a downtrend.

The downward movement validated the descending triangle line twice as support (orange circles) and brought the price to the bottom around the range support area. Since then, SHIB has risen 40% and continues its upward movement.

Chart by Tradingview

The movement target for this pattern as measured by the height of the descending triangle is the $0.00001100 level. This resistance coincides with the 1.414 Fib external retracement level measured for the last downward movement. If SHIB reaches this peak, it will confirm the breakout from the range described in the previous section.

SHIB future movement

The short-term 4-hour chart shows a breakout from the descending resistance line that has been respected since August 17. The line was tested several times until it was decisively broken through with high volume on 16 September.

At the same time, the SHIB price also broke through the short-term support/resistance area near $0.00000760 (green rectangle). It coincides with the 0.382 Fib retracement level. It is expected that in the short term it will serve as support and the price will validate the area before continuing the upward movement.

Chart by Tradingview

For BeInCrypto’s latest Bitcoin (BTC) analysis, click here.

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PhD and an assistant professor at an international university in Lublin, Poland. Spent 10 years studying philosophy of nature and sport science. An author of 4 books and two dozens of scientific articles. Now, he is using his mind for the benefits of the cryptocommunity. Technical analysis enthusiast, Bitcoin warrior, and a strong supporter of the idea of decentralization. Duc in altum!

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Source: https://beincrypto.com/shiba-inu-shib-rises-to-range-high/

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AMD Not Prioritize Mining Cards Over Gaming GPUs, Says CFO

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AMD, along with other chip manufacturers, has struggled to keep up with the high demand for GPUs due to crypto mining. 

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The past year has been hard on those looking to buy gaming graphic processing units (GPUs). The same high-powered units that are used in HD gaming applications also happen to be the GPU of choice for cryptocurrency miners worldwide. As the mining of cryptos such as Bitcoin becomes more and more difficult, more and more processing power is required to achieve the same goal.

Due to this, there has been a rush on GPUs in the last year with AMD, Nvidia, and other manufacturers struggling to keep pace. AMD has come under heavy pressure because of how poor its ability to meet the growing demand has been. Some even accused the company of prioritizing mining cards over gaming chips. The pandemic was another root cause of this shortage as the world’s population demanded more home electronics and entertainment devices across the board. 

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During the recent Deutsche Bank Technology Conference, CFO of AMD Devinder Kumar said that AMD was not prioritizing GPU cryptocurrency miners when asked directly about it. Kumar’s response was “crypto, negligible. That’s not a priority for us. We do not prioritize our products or make them for the crypto folks is not for the gamers, and that’s a high priority from that standpoint. What’s driven the growth, as you know, we had the Radeon 6000 Series high-end GPUs introduced very competitive and that is driving the growth in the GPU space.” 

Crypto-specific cards might be the answer

Nvidia has suffered through the same issue as its competition and is tackling it in a rather reasonable way. The company began to produce and market GPUs that were specifically designed for cryptocurrency miners. Nvidia creating a distinct separation between the two should help alleviate the rush on gaming GPUs that users are scrambling to purchase. 

The crypto-mining processors (CMPs) that are now being sold aren’t as sophisticated as their gaming counterparts because they don’t need to be. Because they can’t be used for conventional graphics-related tasks, they will not flood the GPU secondary market. CMP cards can’t be used for graphics-related tasks are therefore won’t flood the secondary market with GPUs.

Another step that Nvidia has taken to combat this issue is to nerf its currency line of GPUs to make them less suited to the task of mining cryptocurrencies. Due to this, they are only effective as gaming cards.

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Matthew De Saro is a journalist and media personality specializing in sports, gambling, and statistics. Before joining BeInCrypto, his work was featured on Fansided, Forbes, and OutKick. With a background in statistical analysis and a love of writing, he takes an outside-the-box approach to reporting news.

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Source: https://beincrypto.com/amd-not-prioritize-mining-cards-more-than-gaming-gpus/

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Tomi Heroes NFT Sales Surpasses $1.35M

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NFT and DeFi enthusiasts worldwide may be wondering why Tomi Heroes have been popping off on OpenSea in recent days.

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These non-fungible tokens grant access to Tomi’s token presale soon, so the limited-edition sets are in high demand. With 395 Ether roughly $1.37 million in traded volume, it is evident that this is the project to keep an eye on over the coming days. 

Massive TOMI Presale ROI Potential

As Tomi Heroes generate more proceeds, the team will use these funds to purchase and burn TOMI token during the TOMI sale on SushiSwap.

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It is a no-brainer for any TOMI presale participant, as, given the contribution by the TOMI team from the NFT sale, the return on investment potential is borderline astronomical.

As more FOMO kicks in among investors who seek exposure to the TOMI presale rounds, the remaining NFTs will generate even more attention and return for the presale.

It is essential to see this project for what it embodies. It is not just an NFT collectible, although these items will likely remain very popular on the secondary market after the token sale concludes.

Instead, it is a tool to facilitate token presale participation and incentivize holding the NFT rather than flipping it for a quick profit like so many other projects. 

Moreover, using the proceeds to make the TOMI token even more scarce is a gamechanger in the crypto industry.

Since the project focuses on giving back to the stakeholders with no profits for the developers, other NFT projects can learn a thing or two from how Tomi approaches this novel technology.

Perhaps this will set a precedent for ethical and inventive demand-driven tokenomics.

Investing in Tomi Heroes is a smart idea if you are interested in partaking in the TOMI presale rounds. It is essential to gain access to one of these five presale rounds, as they are available for only 30 minutes each.

The current rate of ETH trading volume is sufficient to make investors 10x on their TOMI investment even if no one else would participate in the token sale and it remains at a $75,000 market cap. 

The TOMI launch will happen on the Polygon network via the SushiSwap platform to avoid transaction delays and high gas fees. The token presale rounds will take place on September 21, 2021, with each of the five presale rounds lasting 30 minutes. .

A dive into the Tomi technology

To grasp the potential of TOMI, it is essential to look at what the ecosystem will provide to its users. Powering scalable projects through blockchain technology and introducing DEX swapping are two of its core solutions.

The focus on decentralized finance can change the lives of millions of people by democratizing access to alternative financial services and products.

Aligning this vision with PancakeSwap’s success and long-term plan can create a sustainable and attractive outlook for cryptocurrency and blockchain over the coming years. 

TOMISwap will serve as the next-generation decentralized trading platform built by the Tomi team. It will run on the Ethereum blockchain and facilitate the swapping of multiple tokens without forcing users to spend an arm and a leg on transaction fees.

Offering sustainable, efficient, cheap, and fast solutions for transactions at a high throughput helps conserve energy and offers scalability that will benefit all participants. 

The transaction fee per swap is capped at 0.3% of the amount, thanks to the use of decentralized liquidity providers. Of those fees:

  • Liquidity providers will earn 66.6% of transaction fees from TOMISwap and the Sushiswap smart contract’s activity, 
  • Governance token stakers will receive 16.6% of the transaction fee.
  • TOMISwap user giveaways will be allocated 8.3% of the transaction fee.
  • The remaining 8.3% goes to TOMIFundMe. 

Through TOMIFundMe, every person on the planet can set up a profile to share project ideas and business plans.

Rather than stopping there, TOMIFundMe will help business ideas grow and evolve if they can change the world for the better.

All TOMI holders can vote on projects to receive a grant. Those grants are paid out using the 8.3% of all TOMISwap fees collected for this purpose.

It is a front-row seat to future development in the decentralized industry, unlike anything that has been seen before. 

The team’s strong focus on wealth distribution and making a positive societal impact brink value to the TOMI token and those who hold it in their portfolio. However, there are multiple benefits to holding that token.

TOMI utility In a nutshell

The TOMI token serves multiple purposes in the Tomi ecosystem, as it is the native currency.

Ranging from community governance to liquidity provision and cheap transactions, there are multiple reasons to like the concept of TOMI.

Governance token stakers receive passive income from TOMISWAP and can vote on the new era of blockchain development.

Traders can benefit from cheap transaction fees and liquidity rewards through swapping DEX. 

With an initial supply of 1.5 billion – capturing the initial needs of the project – the team opts for using half of the coins to provide liquidity through Sushiswap.

Another 250 million tokens will fund the development of the project and require TOMI governance token holder approval before spending.

The remaining 500 million – to be unlocked over three years – is used for the Community pool. There are no free tokens for the founders or anyone else to ensure a fair distribution and release. 

After the TOMI sale concludes, the team will launch TomiSwap and TOMI staking in October 2021. TomIFundMe will be released in Q1 2022, somewhere near February.

The Tomi blockchain – marking the migration away from Ethereum – goes live in Q3 2022 and will support ERC-20 tokens. 

Closing thoughts

The ongoing interest in the Tomi NFTs confirms investors are on board with the team’s vision of creating wealth for everyone through fairness and transparency.

Moreover, the team’s choice to use all proceeds to buy back TOMI tokens and reduce the supply from day one – without any developer receiving a free allocation of tokens – confirms their commitment to a long-term business plan capable of changing DeFi for good. 

A confident team with a solid business plan and a forward-thinking approach can make many ideas become reality. As cryptocurrency becomes a more mainstream concept, now is the time to build wealth and share it with everyone else. All aspects of Tomi fulfill that outlook and provide value and incentive for TOMI holders.

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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Source: https://beincrypto.com/tomi-heroes-nft-sales-surpasses-1-35m/

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