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:
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.
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.
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)
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!
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