Decentralization is at the heart of cryptocurrency movements and their economic systems. It is decentralization that makes DEXs fascinating; after all, decentralized peer-to-peer transactions have proven to be the safest ways to transfer cryptocurrency. DEXs have the true potential to disrupt the exchange space because the users always maintain control of their assets, making it secure, and the trading experience is entirely transparent.
Powered by the scalable TomoChain Blockchain, TomoX is a ground-breaking, secure, and permissionless DEX protocol that empowers anyone to launch their own DEX quickly and without any technical knowledge.
TomoX is a game-changer that combines the speed and experience of a centralized exchange, and security of decentralization, letting operators bring a DEX to market without needing extensive technical knowledge. It is a core decentralized exchange protocol that is integrated into the nucleus of the TomoChain blockchain consensus. TomoX DEX protocol gives something close to that of an actual centralized platform with the same ease of use experience in its offering that the average Joe or Hillary trader can understand.
With minimal upkeep and development costs, launching a DEX takes just minutes.
The benefits of such a protocol at a glance would be:
- Non-custodial trading ensures tokens stay in user wallets without the need to be deposited like with traditional exchanges for trading.
- Since TomoX is integrated into the core layer of TomoChain, placing orders, canceling them, and even matching is effortless and near-instantaneous.
- Launching a DEX is almost immediate and less burdensome with an intuitive administrative interface to monitor and control digital assets. The ready-to-use free front-end template and hosting solutions facilitate a hassle-free DEX launch.
The general perception of DEXs is they are unintuitive, slow, tied to tokens on a single blockchain, and require far more technical knowledge to use for those users who have been operating under the guidelines of a centralized exchange. TomoX alleviates this friction and provides a familiar centralized exchange trading experience without compromises.
While centralized exchanges are popular for their intuitive UI and UX, they lack security functionalities, which opens them up to hacks capable of stealing not just funds, but also valuable user information. TomoX conquers this shortcoming and brings all of these useful attributes together into its non-custodial solution.
The TomoX protocol trumps other established exchange solutions out there to provide a quality decentralized exchange solution that can compete with the snappy experience of centralized exchanges in the following ways:
A Quick Launch
With TomoX, you don’t have to wait to fulfill extensive requirements to launch your own intuitive DEX platform. TomoX has made this quite easy.
It takes just 5 minutes to launch a DEX. With a simple one-time deposit of 25000 TOMO into the Registration portal, anyone can propose a DEX in real-time. There is no need to go through lengthy due diligence processes associated with already established centralized exchange Cloud services, like Binance Cloud, nor deal with technical challenges to host and run it like with other DEX options.\
Performance and Ease
As a Layer-1 protocol built into the TomoChain Blockchain, TomoX provides a rapid trading experience operating at 2000 TPS, and an intuitive interface like that of centralized exchanges.
Almost anyone in the blockchain sector from 2017 is familiar with the DEX trading platform EtherDelta, which seems like a platform straight out of coding school. EtherDelta is not very user-friendly. Its compact interface makes it challenging to read orders that can result in making mistakes that can prove to be a costly affair. The site depends on the Ethereum network, which is very slow. Transactions can take hours or even days, especially when the network is heavily clogged up. Since Ethereum is the base currency on the site, all the tokens on the exchange are paired against ETH. ERC-20 tokens are supported, however popular cryptocurrencies like Bitcoin and Litecoin are not available.
Since TomoX is built into the consensus mechanism of the TomoChain blockchain, speed and performance is guaranteed. As an extra, traders are not required to hold native TOMO coins, as all exchange fees are taken from the tokens or coins traders trade with. Hence it is a separation from the norm on DEXs where traders are usually required to hold some amount of native tokens to be used as trading fees.
Zero Restrictions
No permission of any kind is required to operate a DEX. The system is replete with zero token listing restrictions and KYC norms that are optional to process. Operators act independently without intrusive supervision from a third party, nor any fixed policy requirements.
DEX operators can focus on actual business execution. When comparing with established solutions like Binance Cloud, which have some heavy requirements to use their backend, TomoX seems like a walk in the park.
Security
All trades are wallet-to-wallet and are handled entirely on-chain, ensuring no centralized point of vulnerability. And, since TomoX is a non-custodial platform, i.e. the exchange holds no trader funds, there is no risk of theft of user funds nor identity information.
Spot and Lending
TomoX DEX operators have the unique opportunity of offering both spot trading, and lending and borrowing functionality done at a peer-to-peer level. Users have the convenience to lend USDT while the borrowers have the choice of using any collateral (BTC, ETH, or TOMO) to back it. Borrowers are given flexibility with a window of 1 day, 7 days, 30 days, and even 90 day lending periods.
TomoX supports the TomoChain token standard and other primary blockchain tokens like ETH, USDT, and BTC through its TomoBridge cross-chain gateway, with more standards to be included in the future.
A key frictionless part of the trading experience is that there is no gas fee and the native token TOMO is not required to pay trading fees either. All fees are taken in the token that is being traded.
Liquidity
All DEXs operating on the TomoX DEX protocol share the same order book, solving the liquidity issues facing most new exchanges. Of course, projects with strong community support and presence will enjoy high liquidity due to trading activities, but base liquidity is taken care of for DEXs starting out.
As a layer 1 blockchain solution, TomoX is aimed at democratizing DEX businesses by providing an easy way to launch a DEX in a jiffy without the need for any technical knowledge. The prolific TomoX team ensures hassle-free operations rendering this unique proposition cost-efficient and transparent.
