TMTG Launches DeFi DEX TOMSWAP v.1.0 and Season 2 of TOM Finance on Jan. 14
Hong Kong-based cryptocurrency service provider TMTG Enterprise HK Limited announced that season 2 of TOM Finance launches on Thur., Jan. 14. The second season features the DeFi DEX TOMSWAP v.1.0 to provide swaps and liquidity pools.
TOMSWAP is similar to Uniswap. The platform is a decentralized exchange, operating solely on a smart contract. Anyone can participate in the liquidity pools, and exchange one ERC20 token for another ERC20 token provided that the token pool is on TOMSWAP. (i.e. TOM can be exchanged with TMTG and vise versa)
TMTG simultaneously launches the second season of its DeFi project TOM Finance to expand the utility of TOMSWAP.
TOM Finance Season 2 will be conducted with three liquidity pools - TMTG/LBXC, TOM/TMTG, and TOM/LBXC - on TOMSWAP v.1.0 for 60 days. During the mining period, a total of 10,000 TOM2 will be available. The second season will also conduct a mining pool with TOM with a maximum of 4 times the leverage.
With the launch of TOM2, the C-BANK coin airdrop will be held. C-BANK is the utility token of Crypto Bank platform. C-BANK airdrop is based on the number of TOM2 mined; for every TOM2 mined, 30,000 C-BANK will be rewarded, with a total airdrop of 300 million.
A TMTG official said, “We planned to develop TOMSWAP during the first season of TOM mining to reduce the inconveniences related to TOM mining and the fees that occur on Uniswap. We aim to expand the influence of TOMSWAP to diversify the liquidity pools and coin liquidity with more convenience.”
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