Moving Tokens: the solution to liquidity problems for gaming applications?
We are all aware of the significant asymmetry in the value of coins in the world of cryptocurrencies. On the one hand, we have Bitcoin with a market capitalization of $172B (Feb 5, 2020), representing almost 65% of total cryptocurrency value while Ethereum stands barely at 8% of total or 13% of Bitcoin’s total market capitalization. This fact merely illustrates the value “locked into” Bitcoin and the potential liquidity problems encountered when so much value is concentrated in a few coins. The problem does not stem from Bitcoin trading volume since it is actively traded on centralized exchanges. The liquidity problem resides in the ability to trade Bitcoin on decentralized exchanges, which is currently not possible (more on that later). Decentralized exchanges are present on the Ethereum or EOS networks and are growing in popularity as users realize the advantages of trading peer-to-peer. But DEX trading volume and liquidity is limited while at least 65% of total market capitalization is not accessible. But what if you could trade Bitcoins peer-to-peer on a decentralized exchange or conversely what if decentralized exchanges allowed you to trade Bitcoins?
In 2017 we started exploring the concept of inter-blockchain and the ability for tokens to “move” between different blockchains to take advantage of advanced network speed and transaction costs on Ethereum or EOS. We quickly realized that a MoveToken application would “unlock” value from Bitcoin and allow users to use Bitcoin for everyday transactions given the improved transaction speed acquired by a Bitcoin on the EOS network, for instance. As we looked at probable use-cases, we also realized that bringing Bitcoin on specific networks could solve the liquidity problem that plagues decentralized exchanges and gaming sites. We developed the MoveToken application to allow users free movement between different blockchains enabling trading on Ethereum or EOS-compatible platforms and thus bringing 65% of all market capitalization to decentralized exchanges by allowing Bitcoins to be traded on them.
The Gaming liquidity challenge
There are thousands of games running on different blockchains with various levels of popularity. One common element is the fact that to monetize a game, operators must accept native network tokens or provide some conversion to a native coin. In the case of EOS-based games, you must have EOS tokens to play. But what if you have Bitcoins and do not wish to exchange them for EOS tokens. What if you could bring Bitcoins on the EOS network with your Bitcoin behaving in the same way as an EOS in terms of transaction speed and time. That is what the MoveToken application allows users to do without being forced to exchange tokens. You can bring a Bitcoin onto Transledger and get an iBitcoin on the network of your choosing(Ethereum, EOS, TELOS, Stellar); use it for gaming or trading and redeem back onto the Bitcoin blockchain at its initial value; no volatility; guaranteed.
Transledger is the swiss-army knife for cryptocurrencies
The integration of the MoveToken application with the decentralized exchange to bring liquidity is only one of the innovations from Transledger. We offer a unified platform with a comprehensive onboarding system (KYC and AML compliant), a wallet/account management application to transfer funds between members, and a Payment system to send and receive payments in nine cryptocurrencies. The Transledger platform is as versatile as a swiss-army knife while offering:
- a wallet supporting multiple cryptocurrencies,
- a payment/fund transfer solution free transfer between members
- an actual Peer-to-Peer decentralized exchange available on four networks
- a MoveToke application, a first in the industry bringing liquidity from Bitcoin, Bitcoincash and, Litecoin to trade safely peer-to-peer.
- A token issuance and management system on four networks
Join the Transledger Open Community
We invite you to create an account through our SignUp page. By creating an account, you will also test our Membership application and its verification process. You will then be part of a unique community transferring funds and moving token between networks.
If you would like to explore options, ask questions, or start, please reach out to our team on our Telegram channel.
