The 3rd Party service, TTSwap, has recently launched on ThunderCore and we are excited to welcome them and introduce our community to their service.
Like the Uniswap open-source protocol, TTSwap is made up of a series of exchange contracts enabling the user to swap their Thunder Token for TT-Dai or TT-USDT. Each exchange contract holds reserves of the subject coins. Anyone can become a liquidity provider and contribute to reserves. Contributing to liquidity is different than buying or selling — it requires a deposit of both sides of the exchange (TT, TT-Dai or TT-USDT). All of this liquidity is pooled and a “pool token” is generated for the user to track their contribution. When so desired, this liquidity can be withdrawn, burning the associated pool token.
There is a nominal 0.5991% fee for the exchange. TTSwap — and its users — benefit from the speed and security of the ThunderCore chain while leveraging this simple smart contract interface to swap between their crypto holdings. Additionally, TTSwap will improve the state of liquidity in the market place — formalizing the model for pooling liquidity reserves as seen on the Uniswap open-source protocol.
We are excited to see TTSwap come into the marketplace because it provides our users with a censorship-resistant method of acquiring ThunderTokens. TT-Swap has no single point of failure, unlike other centralized services, and eliminates intermediaries who can significantly increase the cost of acquiring ThunderTokens.
With existing listings on standard crypto exchanges, the recent launch of TTGet and now this fully decentralized smart contract-based asset exchange — the on-ramp to the ThunderCore marketplace is maturing. Join us in Waterloo to see what you can build on one of the fastest ethereum-compatible blockchains in existence!