TomoChain has announced that its permissionless decentralized exchange (DEX) protocol, TomoX has gone live on public testnet. TomoX testnet went live at exactly 3:00 PM on Tuesday, November 5.

TomoX will enable businesses to launch permissionless DEXs (otherwise known as Relayers) in minutes. The protocol aims to remove the hurdle of extensive technical knowledge and high dev costs. While making the announcement on Medium, the team said:

TomoX is a secure and efficient permissionless decentralized exchange (DEX) protocol that empowers a diverse system of DEXs, market-making providers, and independent projects to work together in a decentralized manner.

The protocol has a single layer that has been integrated into the core of the TomoChain blockchain to speed up confirmation times. Additionally, while all DEXs built on the protocol will share the same order book, masternodes on the network will provide the needed computation for processing orders.

The protocol comprises of an open-source frontend-backend templates (TomoX SDK) to fast track the deployment of DEXs and a professional management dashboard (Tomo Relayer) for launching and managing the deployed DEXs. Launching a decentralized exchange using TomoX requires a deposit of 25,000 TOMO to TomoRelayer.

Following the launch of TomoX, TomoChain has also launched its first DEX, dubbed TomoDEX. The exchange which currently gives free testnet TOMO for trading will allow users to garner some hands-on trading experience without incurring any loses.