TitanSwap ($TITAN) is a cryptocurrency released by TITAN DAO in 2020. Titan DAO calls itself a de-financialization hub, which offers financial products that are fully controlled by users. The facility doesn’t have centralized custody and provides a user-friendly solution for using cryptocurrencies and other assets without complicated transactions.
The ecosystem includes a DEX with an integrated automated market-making mechanism and employs such technologies as Titan Smart Route that determines the fastest route for the speed of transactions, Titan Address Audit that protects the users of the community, and Titan Adaptive Bonding Curve described below. All these features were added to the system with the launch of the V2.1 token. It’s also worth adding the introduction of the Layer 2 protocol that was implemented to reduce gas consumption and makes transactions much cheaper. It helps to attain more efficient clearing and settlement procedures.
Since the demand for the formation of a unified and broadly supported decentralization market has grown, different online platforms started developing the elements of its infrastructure and the products alleviating its work. Cross-chain support has become a necessary solution in the conditions of the Ethereum network congestion. Taking into account the lack of quality cross-chain support in the Ethereum network, the in-house team of Titan has developed the solution of the DeFi facility to solve the problem.
Thus, one of the goals pursued by the facility is to launch a cross-chain swapping that turns the platform into a one-stop shop for the exchange of assets across chains thus reducing transaction costs.
The DEX employs an Adaptive Bonding Curve that makes the platform stand out from its business rivals. With its help, the facility offers lower prices for its users, hence higher liquidity. The members of the community get access to the best exchange prices as well. The list of benefits includes the automated tools available for arbitrageurs. Besides, the AMM price formation mechanism is constantly improving. It helps users to obtain smaller slippage, affordable prices, and affluent liquidity in the system. Also, in September 2020, TitanSwap implemented the Layer 2 protocol after the team explored its work and tested the performance of the technology.
Providing the transaction price curve along with the pair liquidity info, TitanSwap removes numerous blind spots of swap transactions. The trading interface that was created by the developers of the facility helps to alleviate the procedure as users try to compare the transaction price differences when the same transaction volume is employed. The integration of the centralized operating experience into decentralized products fulfilled by the team helped the platform to obtain a more expensive database of users.
The team launched the channel for removing tokens from the Titan Swap when Scam Coins are detected. The members of the community reporting such tokens are rewarded by the system.
As users add token contract addresses, the platform implements their audit with relevant partners to determine if the smart contracts belong to the corresponding tokens. When mistakes are detected, users are informed about scam tokens. Using the feature of address audit, the facility created a black list of addresses to warn consumers about the scam. It raises the security of the platform to a higher level and helps to avoid numerous problems.
Using the AMM mechanism taken from Uniswap, it additionally integrated an Automated Order mode designed to implement limit orders and tracking orders. Diverse brokerages that perform automatic buy and sell orders track the prices and check slippage in the Titan Pool via a smart contract.
The advantage of Adaptive Bonding Curve is that it enables work with different types of assets deriving the highest profit from them. Combining ideal price discovery schemes, the DEX manages to attain good liquidity attracting more people to its services. The intelligent cross-chain swapping is implemented via anchoring of the basic assets of the main blockchain on Ethereum.
The team tries its best to develop the trend of cross-chain asset trading. The future of decentralized platforms is impossible without this capability. Also, the extension of transactions to off-chains is one of the most valuable features of the platform. The DEX follows the pattern of Unipig that founded its token swap on the basis of Optimistic Rollup technology. It functions perfectly with the Layer 2 protocol and helps to take advantage of smart contract support. Optimistic Rollup contributes to better efficiency, lower cost, and higher speed of token swap. The same can be said about Smart Routing calculation when the best liquidity pools are chosen automatically by users.
Titan is a governance token that was launched by Huobi on September 24, 2020. The next day after its launch, Titan was enlisted on Bithumb Global and became accessible for the international cryptocurrency market in this way.
The asset provides proposal and voting rights that help to determine the future of the platform. The liquidity providers and traders are rewarded with it. The members of the community can decide upon such issues as reduction or increase of the transaction fee depending upon the trade volatility.
The governance rights include also the time-weighted voting coefficient, voting on the speed of liquidity mining, adjustment of the token allocation weights between different liquidity pools, a bonus weighting factor for locked voting. Also, users need minimum collateral requirements to become a brokerage.
The platform employs deflationary mechanics for its tokens using the burning events. In September 2020, the facility destroyed 9 billion tokens out of the 10 billion issued by TITAN.
Titan token allocation is the following. 90% of tokens are allocated for liquidity mining, while investors and shareholders get 10%.
CEO and CTO of the project is Dzhyhir Anton who is a maintainer of the Ethereum and Cosmos Network. He is a technology founder of the two blockchain startups.
The CMO of the project is Morozova Ksenia who is a digital market expert. The lead SME is Yevheniia Sahaidak with experience in Research and Development. She has good knowledge of Bitrix, Asana, 1C, and worked as tech lead in google AdWords projects.