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Hand in hand with the auction platform and airdrop $200,000 in tokens.
On-demand Layer 2 platform Tokamak Network officially announced on February 3 that it has signed a strategic partnership with DeFi digital asset auction and trading platform Bounce.Finance. Bounce Finance will apply the two-tier solution provided by Tokamak Network.
Hand in hand with the auction platform, airdrop $200,000 tokens
Since the DeFi farming boom last summer, high-return mining profits have made DeFi a star track in the crypto market. Different from the centralized financing of existing financial institutions, DeFi provides a financial system that directly uses a variety of collateral to obtain loans through smart contracts, and does not require intermediary agencies to participate and adjust. However, the current performance of Ethereum has become a major obstacle to the large-scale application of DeFi and transaction speed. This is also a problem that two-layer network protocols such as Tokamak Network are committed to solving.
Bounce Finance provides various types of auctions for individuals and projects. Based on the DeFi platform built by Ethereum and Binance Smart Chain (BSC), users can create and use auction pools by themselves. Bounce's protocol governance token BOT has been traded on decentralized exchanges such as Uniswap, and global exchanges such as Binance, Huobi, and OKEx.
As Tokamak Network's Layer 2 solution is introduced into the Bounce Finance ecosystem on demand, it is expected to solve network scalability and user convenience issues, achieve more efficient large-scale computing, and maintain a decentralized ecosystem through collaboration. This cooperation will also bring rich practical cases and valuable experience to the rapid development and iteration of the Tokamak Network platform.
To celebrate this official cooperation, Tokamak Network will airdrop Bounce Finance tokens worth approximately US$200,000 to TON holders on the Upbit exchange. Snapshots will be airdropped in advance, and detailed information will be released through Tokamak Network's official social media.
Kevin Jeong, CEO of Tokamak Network's parent company Onther, said: "This type of partnership is the cornerstone of the popularization of Tokamak Network technology. Tokamak Network and Bounce Finance will strengthen continuous collaboration to improve network scalability, enrich functionality, and accumulate experience. ."
Get through the core of DeFi trading and launch a decentralized exchange
As an on-demand Layer 2 platform, Tokamak Network can provide very high scalability while ensuring the same level of decentralization and security as Ethereum. For each decentralized application (DApp), you can easily build a custom blockchain based on the needs of developers through two-tier technical solutions such as Plasma EVM, ZK-rollup, Optimism rollup, etc.
In addition to technical features, Tokamak Network's ecological token TON is also worthy of attention, as it serves as a fuel and incentive to ensure the healthy operation of the ecosystem. In addition to the most basic transaction fee of TON as a sub-chain, developers currently pledge TON when deploying the chain and linking to Tokamak, and they will also receive similar pledge returns. If the rules are violated during use and the challenger successfully proves the violation, part or all of the pledged TON will be issued to the challenger as a reward. TON has a total issuance of 50 million. The token distribution began on August 13, 2020, and it was subsequently launched on Korea’s largest exchange, Upbit.
In addition, TON also launched the decentralized exchange Uniswap in the form of WTON. For security and stability considerations, ERC-20's TON is restricted to some forms of transfer, and can only interact between the sender and the contract, which means that the holder of the coin cannot send it directly to others. For this reason, TON cannot be directly listed on a decentralized exchange. In order to facilitate users to trade Tokamak Network's ecological tokens on decentralized exchanges, it launched WTON (Wrapped TON) in October last year. Any user can freely exchange WTON and TON in the Ethereum network. , And trade on Uniswap, the largest decentralized exchange.
WTON (Wrapped TON) is the "encapsulated" TON, which can be converted 1:1 on the official website, and then can interact with any smart contract in Ethereum. This encapsulation process is not a transaction, but is encapsulated by the user through a encapsulation contract. In the process of encapsulating or unpacking TON and WTON, there are no additional fees other than the on-chain transfer fee, and the only transfer fee is relatively low.