TomoChain Launches TomoSwap, A Decentralized Exchange Platform
TomoChain has launched the first decentralized token swap platform, TomoSwap, on their blockchain. Making the announcement on their official Medium page, the team highlighted that TomoSwap will facilitate peer-to-peer transactions on the network while focusing on user-friendliness and market liquidity.
TomoSwap promises a fast & secure way to swap tokens with a near-zero transaction fee.
TomoSwap utilizes the KyberNetwork protocol, an on-chain liquidity protocol developed on the Ethereum blockchain. The protocol enables an almost instantaneous exchange of digital assets with high liquidity. Some modifications have been made to the protocol to optimize it for TomoChain.
The first version of TomoSwap (v1.0) has support for TOMO and all TRC20 tokens. Transactions are on-chain, minimizing the risk of theft or security breaches. Users can also transfer their coins to other addresses using the Transfer feature.
There are currently on three tokens on TomoSwap – Triip, TOMO and MCash. Plans are on the way to list more tokens.