What can be built based on TomoX

This 2-article series describes how all tools developed by TomoChain work together to make TomoX — the biggest, most truly revolutionary platform for the decentralized cryptocurrency exchanges ecosystem.

Part I. Introducing TomoX from core layer to application layer

In our previous article comparing TomoX vs 0x, TomoX was shown to overcome most of the limitations of existing decentralized exchanges, especially providing for a smoother user experience and liquidity through a giant shared order book.

Cryptocurrency exchanges are undoubtedly one of the most dominant DeFi apps in the crypto industry. Moreover, the development of Exchanges also entails the development of a broader set of applications related to cryptocurrencies:

• Derivative trading: Similar to derivative trading in traditional asset trading, crypto derivative trading allows for trading on the fluctuating value of cryptocurrencies.
• Lending: A person can lend cryptocurrencies in order to gain and earn interest on the lent currencies/tokens.
• Stable coins: Stable coins are an indispensable part of any cryptocurrency exchange. Stable coins can serve as a medium of exchange. But most importantly on exchanges, stable coins serve as a means of keeping traders’ asset value stable during high market fluctuation periods or price crashes.

Pioneering platforms that provide these applications are centralized parties. Some decentralized forms of these applications appear on blockchains like Ethereum, i.e. bZx, MakerDAO DAI. However, the limitations of Ethereum (see our previous article) and centralized aspects of these applications result in significantly lower volume (compared to those provided by centralized exchanges) or money lost due to price manipulation and the lack of a decentralized price feeder.

This article will show that all of these DeFi apps could be built based on TomoX — the truly revolutionary decentralized exchange technology.

Let’s have look at the overview of different tools/frameworks/potential applications of TomoX.

Developing an exchange is a super hard problem and costly. Even a medium centralized exchange would cost many thousands of USDs to develop. Maintaining the security and integrity of an exchange is even harder and more costly as it requires lots of knowledge and skill in securing the exchanges. Security has been proven to be a core vulnerability through innumerable hacks on major centralized cryptocurrency exchanges since their birth.

TomoX is built to solve all of these costly and risky issues regarding the launch and operation of cryptocurrency exchange businesses.

TomoX consists of a series of tools and applications that are compiled all together to build the ultimate decentralized finance ecosystem around TomoChain.

Technically speaking, the TomoX ecosystem can be divided into three vertical layers where applications at the top layer are built upon TomoChain’s revolutionary TomoX protocol.

TomoX core layer

Located at the bottom of the stack, TomoX serves as the infrastructure layer that allows tools and applications to interact with it in order to execute financial and trading transactions. The largest innovation of TomoX core is a liquidity-focused giant order book that gathers all trading orders as well as financial exchange-driven orders together to be executed in a transparent, secure, high performant matching engine. Readers are recommended to check the TomoX homepage for more info about TomoX technology.

Relayer network layer

The second layer is focused on leveraging and securing businesses based on exchanges and in cryptocurrency in general.

Relayer/DEX launch kit — TomoX-SDK

TomoX-SDK is born to eliminate most of the cost regarding technical exchange development. TomoX allows any business to launch its own decentralized exchange within 1 minute.

Now, what distinguishes TomoX-SDK from the crowd of decentralized exchange tools is not just about launching an exchange with near-zero pre-investment, but also it’s run within the TomoX decentralized exchange ecosystem whose benefits are as follows:

• Secure, risk-free: No money for maintaining users’ deposit coin, no fear from exchange hackers. This is because TomoX is the first truly, highly performant decentralized exchange ecosystem where.
• Support for integration with other systems: TomoX-SDK provides a rich set of APIs for other businesses, such as other exchanges, and market makers to interact with.

Relayer/DEX management: TomoRelayer

Relayer management TomoRelayer made exchange management become one of the easiest parts in exchange business operations. No additional integration is needed for listing or delisting one or more token. More info about TomoRelayer can be found here.

Application layer

Believe it or not, the potential applications of TomoX are tremendous if we look at TomoX from different angles.

Those applications will be explored in the next article of this series.