TOM (Touch of Midas) Finance Liquidity Mining

Image for post
Image for post

TOM Finance is launching an automated market making (AMM) decentralized exchange (DEX) that is built on the Ethereum blockchain with the purpose of enhancing liquidity for ERC-20 gold stable coins on decentralized exchanges.

As part of the launch of TOM Finance, TMTG will be launching a liquidity mining event. There will not be any presale or team allocation of tokens. All tokens will be mined by the most active users and community for a fair launch. Users will be able to mine TOM tokens by providing liquidity through liquidity pools and functioning as liquidity providers (“LPs”).

TOM will have a total supply of 50,000 TOM and will be mined in two phases.

In the first phase, a total of 25,000 TOM in circulation that will be mined within the first 60 days.

No new TOM tokens will ever be minted after the initial 50,000 TOM are allocated. This is to serve as incentive to bootstrap liquidity on the TOM platform and provide rewards for the earliest users. More details on tokenomics and LP pairs for mining will be shared at a later date.

TOM will have several interesting features such as:

TOM DAO/Governance
Each TOM token that has been staked within the protocol will receive an xTOM token which can be used for voting and will entitle the xTOM holder to earn 0.05% of total trading fees earned on the TOM protocol. These TOM holders will control the governance of the protocol to ensure that the value of TOM can increase over time.

TOM Buybacks
0.05% of total fees collected from the DEX will be used to buyback TOM tokens programmatically, which will help to drive up value of TOM tokens in the long run. These TOM tokens will be distributed to xTOM token holders to reward them for their contribution in active governance.

Liquidity Pools
TOM Finance allows users to create any type of liquidity pool between any two ERC20 token. Users can become LPs by staking equal parts of both tokens into the existing pool, enhancing liquidity of the pool and earning LP fees of 0.25% for all transactions made. A potential risk to being a LP is the risk of impermanent losses. Liquidity pools ensure that there will always be a ready market for the trading pairs (e.g. TMTG-LBXC pair)

Farming
LPs that are staking in selected pairs will receive TOM tokens during the initial liquidity mining phase which will last 60 days.

Get ready for the age of decentralized finance to disrupt the traditional gold trading markets!

**************************

Join DeFi TOM(Touch of Midas) social media channels to stay up to date on the latest developments:

Telegram : https://t.me/defitom

Twitter : https://twitter.com/defi_tom

Discord : https://discord.gg/T7Xgc8f

DeFi TOM

TMTG’s DeFi Project TOM(Touch of Midas)

Medium is an open platform where 170 million readers come to find insightful and dynamic thinking. Here, expert and undiscovered voices alike dive into the heart of any topic and bring new ideas to the surface. Learn more

Follow the writers, publications, and topics that matter to you, and you’ll see them on your homepage and in your inbox. Explore

If you have a story to tell, knowledge to share, or a perspective to offer — welcome home. It’s easy and free to post your thinking on any topic. Write on Medium

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store