TiFi LLC released TiFi Bank’s V1, their first DApp.
SACRAMENTO, CA, Aug. 23, 2022 (GLOBE NEWSWIRE) — On July 12, 2022, TiFi LLC released TiFi Bank’s V1, their first DApp. The V1 will be the first of many, with the V2, V3 and V4 due out in the coming months. Each of these will introduce new functionalities to the platform, with V1 focusing on the swap aspect.
DEX (Decentralized Exchange) TiFi Bank operates on the Binance Smart Chain, offering competitive pricing for token trading and higher incentive rates for liquidity providers.
Swap and liquidity are the two key elements of TiFi Bank’s first release. TiFi Bank charges an exchange fee 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 compared to PancakeSwap’s 0.17%, but it could make a big difference over the long run.
The majority of current decentralized exchanges are built using pancakeswap layers of pre-existing code; As a result, companies are paying taxes to Pancakeswap while continuing to charge fees for their services, making their DEX fee skyrocketing and unattractive. In the case of TiFi Bank, since the developers created the codes from scratch, the platform has the ability to set their benchmark fees and in turn keep them lower than other available exchanges.
The TiFi team intends to use its proceeds/income from TiFiBank for TiFi buyback and burn events, increasing liquidity, charitable donations and developing the TiFi Allverse platform. 0.02 percent of the transaction amount from the swap goes to TiFi Treasury.
Version 2 of the TiFi Bank will be made available by the TiFi Team in August. This version will have a staking feature. Additionally, the TiFi development team is creating custom staking code to transfer coins from an existing community wallet to TiFi Bank as a staking reward for TiFi Bank customers. Later this month, TiFi Bank will also make portfolio functionality available so that each LP’s historical APY and TVL can be viewed.
What makes the TiFi Bank a revolutionary DEX?
The TiFi Bank is a reliable location for investors. Only the most reliable and established projects are selected by the TiFi team to be included in the TiFi bank. In order to create a safe and wonderful environment for cryptocurrency investors, TiFi will launch a partnership program to collaborate with other crypto projects and determine the process of launching strong projects on TiFi Bank.
Some of the key benefits of listing coins/tokens with TiFi Bank include but are not limited to:
- 20% lower fees than Pancakeswap
- Build market confidence for coins/tokens listed on TiFi Bank by passing TiFi security checks and adding a layer of security for investors
Every coin/token listing at TiFi Bank goes through a variety of security and legal checks which include:
- Application for approval and initial testing of coins/tokens
- Interview with the TiFi team
- KYC
- legal opinion
- Live KYC (recorded)
- Locked LP TiFi Team
In this way, the TiFi team ensures that only high-value coins/tokens are listed on the TiFi Bank and provides users with an extra layer of security from carpet dragging and fraud. In addition, building market trust not only for TiFi Bank, but also for the coins/tokens listed with TiFi Bank and complying with TiFi Bank’s listing process.
As TiFi Bank expands, the TiFi team plans to list more tokens and expand liquidity pools to lessen the impact on prices.
The native token TiFi plays a key role in the DEX ecosystem, helping the bank expand its presence in the massive DeFi market. Simply holding, trading or transferring the token offers numerous/multiple rewards to investors. Users get 1% of their tokens back when they transfer TiFi tokens from their wallet to another user’s wallet. Part of the transaction volume will be burned to reduce the total supply of the token. The deflationary mechanics deployed by TiFi help the token maintain stability and see appreciation in value over the long term.
TiFi is an all-encompassing ecosystem that includes several critical sub-projects designed to deliver the best performance and offer the best experience to users. And the security protocols used by the platform, coupled with lower transaction fees due to the codes developed in-house, make TiFi one of the most trusted and reliable exchanges in the crypto space. So if you’re interested in becoming an investor or partner in TiFi, email [email protected] today!
To learn more about TiFi, visit www.tifi.net
Twitter: https://twitter.com/TiFiToken
Telegram: https://t.me/tifi_token
Discord: https://discord.gg/QhrKr7FY6X
YouTube: https://www.youtube.com/c/TiFiNet
Instagram: https://www.instagram.com/tifitoken/
Medium: https://tifitoken.medium.com/
Reddit: https://www.reddit.com/r/TiFiToken
Disclaimer: This article does not contain an offer to sell, a solicitation of an offer to buy, or a recommendation for any securities or other products or services. This is not investment advice. Please do your own research.
Media contact:
Contact: Samuel Zhou
Company name: TiFi LLC
Email: [email protected]
Location: Sacramento, USA
Website: https://tifi.net/
Newsroom: socials.submitmypressrelease.com
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