Today Telos Swaps becomes a full featured DeFi platform with the launch of TSwaps.com (https://tswaps.com). Features include;
- Telos token swaps
- Transaction mining rewards
- Liquidity pools with staking with yield farming
- Low slippage USD stable coin swaps
- Wrapped EOS tokens and cross chain bridge
- Governance and reward token
Telos token swaps
Telos token swaps allow for the exchange of any listed Telos token for any other Telos token using a simple swap interface. Users are shown an estimated result for the conversion before they execute the swap. Once initiated, an instant swap between the tokens takes place. Tokens are sent and received by the Telos account in the same transaction.
Transaction mining rewards
Telos Swaps platform users will receive transaction mining rewards (in the form of SWAP tokens) with each transaction they perform on the platform. Rewards tokens are issued based on the TLOS value of the transaction being performed. In all cases where TLOS is not one for the swap tokens two swap actions occur. These transactions yield double rewards.
Governance and rewards - the SWAP token
The platform uses the SWAP token as a governance and rewards token. Users will receive SWAP tokens with every trade they perform on the platform. They may either hold on to these tokens and participate in the platform governance or trade them for their share of fees collected by the platform. Approximately 25% of the fees charged by Telos Swaps will be used to repurchase SWAP tokens. The system is configured to issue 1 SWAP : 1 TLOS of fee revenue. This should allow the SWAP token to attain a steady price of 1 TLOS once it reaches steady state.
Liquidity staking with yield farming
Liquidity providers receive liquidity tokens in exchange for liquidity staked to their chosen liquidity pools. 100% of the converter fees charged by a swap pool are used to reward the liquidity providers participating in that pool. Early indications are that yields from high quality liquidity pools are likely to be superior to those received through Telos REX staking (30 day yield of EOS/TLOS for October 2020 was ~20%, this is better than the annual return from T_REX).
Liquidity providers should be cautioned that the value of their liquidity tokens is set by both tokens in the staking pool. Pools where the value of one of the tokens goes to zero will result in the value of the liquidity tokens also going to zero.
Low slippage USD stable coin swaps
The TLOSD Telos Works proposal incorporated a low slippage USD Stable Coin swap platform. This platform was used to collateralize the TLOSD token using established USD Stable Coins. This swap platform is included in the Telos Swaps offering.
Wrapped EOS tokens and cross chain bridge
The USD Stable Coins used to collateralize the TLOSD tokens are wrapped USDT and EOSDT tokens on the EOS blockchain. The project included a multi-token Telos-EOS bridge to make these tokens available on Telos. This same bridge is used to allow wrapped EOS and BNT to be added to the Telos Swaps platform. TSwaps.com includes a “X-Chain Bridge” tab which allows wrapped tokens to be sent to an EOS account.
Tooling allowing EOS tokens to be sent to Telos is still under construction and will be included in the platform as soon as it is complete. In the meantime users can send tokens from EOS to Telos via the TelosD bridge by sending tokens to “telosd.io” with a transaction memo of “<your Telos account>@telos”. Please ask on our Telegram group if you would like some assistance in sending EOS tokens to Telos
TSwaps.com : https://tswaps.com
Telegram : https://t.me/tswaps
Twitter : https://twitter.com/tswaps_com