Sacramento, CA, Aug. 23, 2022 (GLOBE NEWSWIRE) — On July 12, 2022, TiFi L.L.C. released the V1 of TiFi Bank, its first DApp. The V1 will be the first of the many, with V2, V3, and V4 slated for release in the coming months. Each of these will introduce new functionalities to the platform, with V1 focussing on the Swap aspect.
The DEX (Decentralized Exchange) TiFi Bank operates on the Binance Smart Chain and offers competitive rates for trading tokens as well as greater incentive rates for liquidity providers.
Swap and liquidity are the two key elements of the initial TiFi Bank release. TiFi Bank charges switching costs when trading per pair at a rate of 0.20%, which is 20% cheaper than PancakeSwap. TiFi Bank pays liquidity providers 0.18% of the transaction amount, slightly higher when compared to PancakeSwap’s 0.17%, but it might make a big difference in the long run.
The majority of current decentralized exchanges are built using Pancakeswap’s layers of already existing codes; as a result, companies pay taxes to Pancakeswap while continuing to charge for their services, which drives up their DEX fee and makes it unattractive. In case of TiFi Bank, since the developers built the codes from scratch, the platform has the power to set its benchmark fees, and, in turn, keep them lower than other available exchanges.
The TiFi team intends to use its proceed/revenue from TiFiBank for TiFi buyback and burn events, increasing liquidity, charitable giving, and the development of the TiFi Allverse Platform. 0.02 percent of the transaction amount from swapping goes to the TiFi Treasury.
Version 2 of TiFi Bank will be made available in August by the TiFi Team. This version will have a staking feature. Additionally, the TiFi Dev Team is creating its own staking code to transfer coins from an existing community wallet to TiFi Bank as staking rewards for TiFi Bank customers. Later this month, TiFi Bank will also make the Portfolio functionality available so that each LP’s historical APY and TVL can be viewed.
What makes TiFi bank a revolutionary DEX?
The TiFi Bank is a reliable location for investors. Only the most reliable and established projects are chosen by the TiFi Team to be included on the TiFi Bank. To create a secure and wonderful environment for cryptocurrency investors, TiFi will launch a partnership programme to work with other crypto projects and establish the procedure for introducing strong projects on TiFi Bank.
Some of the key benefits for coin/token listing on TiFi Bank include, but not limited to:
- 20% lower fees than Pancakeswap
- Building market trust for coin/ token that is listing on TiFi Bank by going through TiFi security checks and adding a layer of security for investors
Every coin/token listing on TiFi Bank goes through a variety of security and legal checks, which are but are not limited to:
- Listing application and Initial coin/token review
- Interview with TiFi Team
- Legal opinion
- Live KYC (recorded)
- Locked LP- TiFi team
This way, TiFi Team ensures that only high-quality coins/tokens list on TiFi Bank and gives users an additional layer of security from rug pull and fraud. Moreover, building market trust not only for TiFi Bank but also for the coin/token listed on TiFi Bank and complying with the TiFi Bank listing process.
As TiFi Bank expands, the TiFi Team plans to list more tokens and expand the liquidity pools to lessen the effects on prices.
The native token, TiFi, plays a key role in the DEX ecosystem helping the bank to expand its footprint in the vast DeFi market. Simply holding, trading, or transferring the token offers numerous/several rewards to investors. Users get 1% of their tokens back whenever they transfer TiFi tokens from their wallet to another user’s wallet. A portion of the transaction volume is burned to reduce the total supply of the token. The deflationary mechanics employed by TiFi help the token maintain stability and witness an increase in value in the long run.
TiFi is an all encompassing ecosystem comprising several critical subprojects designed to deliver the best performance and provide users with the best experience. And the security protocols employed by the platform, coupled with lower transaction fees owing to the self-developed codes makes TiFi one of the most trusted and reliable exchanges in the crypto space. So, if you want to become an investor or partner on TiFi, send an email to email@example.com today!
To learn more about TiFi visit www.tifi.net
Disclaimer : There is no offer to sell, no solicitation of an offer to buy, and no recommendation of any security or any other product or service in this article. This is not an investment advice. Please do your own research.
Company Name: TiFi L.L.C.
Location: Sacramento, USA