Stablecoin TAI from TomoFinance to be launched on April 26
Mahe, Seychelles-TomoFinance, a platform for issuing Tomochain’s decentralized Stablecoin, TAI, is scheduled to be released on April 26.
TAI is a TRC-21 token that functions as a Stablecoin and worth equal to $1. Users can generate TAI by depositing their collateral assets (TOMO) with TomoFinance.
TomoChain, used by TomoFinance, is a blockchain that uses Proof-of-Stake Voting consensus. It features 2000 TPS, a 2-second block time, and almost zero fees while being EVM-compliant to solve the issues of Ethereum.
Using TomoChain’s native token (TOMO) as collateral to issue TAI has the advantage of providing stable operations without having to sell the TOMO.
How do users deposit TOMO and issue a TAI?
To issue TAI, users need to create a CDP (Collateralized Debt Position) and dep...