TomoFinance, which is a Defi project based on TomoChain, launch in Q1 2021

TomoFinance, which is a Defi project based on TomoChain, launch in Q1 2021

We will adopt Tomochain as the main chain, issue the same chain-based stable coin for the first time in history, and build the infrastructure of Tomochain DeFi.

The ever-growing DeFi market and the challenges

In the DeFi market, which showed a sharp rise last summer, the number of related decentralised exchanges (DEX) usage and trading volume rose. The trading volume for the past month until September last year is less than $15 billion (approximately 1.5 trillion JPY). As a result, ETH transaction fees have also increased significantly.

According to DefiPulse, which provides DeFi utilisation data, the total lock value (TLV) in the DeFi protocol currently amounts to about $ 14.1 billion. In September last year, the “sushi boost” caused the total lock value to plummet temporarily. However, due to the market recovery from October last year, the scale was much larger than the summer DeFi boom. On the other hand, the concern is the increase in scalability and transaction fees on the Ethereum chain.

It’s a challenge because it’s a rapidly expanding market, but it’s an obstacle to growth. Meanwhile, other blockchains are also aiming at the DeFi field and proceeding with development. In the DeFi market, which expects to continue to grow in the future, we will adopt Tomochain, which is highly compatible with the Ethereum blockchain, and aim to build infrastructure and make DeFi borderless building the DeFi ecosystem of the chain.

About Tomochain

The transaction fee is 1/18000 of ETH, and the transaction speeds 80 times that of ETH, which is overwhelming. It features a 150 master node architecture that includes proof of stake voting (POSV) consensus and instant transaction confirmation.

You can also receive DeFi service borderless by wrapping crypto assets of other blockchains, such as BTC and ETH to Tomochain’s token standard “TRC-21” via TomoBridge.

Partnership with BACOOR

This partnership will strengthen collaboration with Tomochain and make it easier to access the Tomochain ecosystem.

Tomo.Finance scheduled to launch in Q1 2021

Stable coins can be conveniently issued by an entity responsibly, such as USDT or USDC, but it also means that they have the authority to freeze coins.

Although it is very convenient, coins placed under the issuer’s control or a specific country that transcends national borders and positions against people unfairly persecuted by the government or live in a particular country cannot provide it.

From that perspective, it will be used mainly in the Tomochain ecosystem as a “distributed” stable coin like TAI. The launch is scheduled for Q1 2021, and the details will be published on the official site, community, etc.

Tomochain Official: https://tomochain.com
BACOOR INC Official: https://www.bacoor.io

​Tomo Finance | www.tomo-finance.com | A stablecoin evolves DeFi Smart and stress-free in your hands Freedom and fairness to you.