Collateralized debt position (CDP) is the position created by locking collateral on Tomo Finance’s Smart Contract to generate TAI, a decentralized stablecoin based on TomoChain. Anyone can open a CDP and pay back to get the locked collateral at anytime, as the whole process is automated by Smart Contract.
HOW IT WORKS
Tomo Finance System Explained
on TomoChain!
POWER OF DEFI
Growing Faster Than Ever
Total Value Locked (TVL) in the DeFi industry has grown surprisingly by over 9,000% in the last two years, which indicates the mainstream is now shifting toward DeFi products faster than ever.
As a reason, Decentralized Finance (DeFi) enables anyone from anywhere to earn a good source of passive income by locking assets in a trustless environment. On the other hand, user can borrow money instantly without dealing with frustrating paperwork.
The structure of DeFi removes human influence as emotion, reaction, or greed. Lending and borrowing are processed directly on a programmed system based on a Smart Contract with transactions recorded on Blockchain. This differentiates DeFi from the traditional financial system.
TOMO FINANCE
Fast . Efficient . Simple
Transaction Fee
Started with low fee, high transaction speed!
TomoChain exists as a multi-purpose Smart Contract platform, which enables developers to build high-performance Dapps at lowest fees. The platform focuses on speed, privacy, ease of use, and decentralization.
Due to its efficiency through Proof-of-stake Voting (PosV) consensus algorithm, transaction fees are minimized and confirmation time is much faster. Hence, TomoChain creates an ideal environment for Tomo Finance to operate and develop.
01.
Fast
Amazing transaction speed at 2,000 TPS with 02 second block time that would complete any transactions in seconds.
02.
Efficient
Transaction fee only costs as low as $0.001 USD each time thanks to POS model that optimizes gas fees maximumly.
03.
Convenient
TomoZ: pay fee with tokens, aside from TOMO | TomoP: privacy layer for transactions | Tomo Bridge: wrap other assets to TomoChain as BTC, ETH, USDT, etc.
04.
Secure
TomoChain has been developed constantly since early 2018 with much improvement from time to time that ensures the highest security for user.
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