Telos USD Swaps system explained

The USD Swaps system brings wrapped USD stable tokens to the Telos Blockchain. It also a new USD stable token and a liquidity token. This article explains the purpose of these new tokens.

Telos USD Swaps user interface

Telos Swaps offers token swaps similar to Bancor or Uniswaps. This approach works well when token values are expected to be independent. It, however, does not work well when the assets in the swap pool are expected to be of similar value (as in the case with USD stable coins). This problem is solved using low price slippage converters such as those found in Curve.fi. The USD Swaps pool on TSwaps.com makes use of a low slippage converter to support USD token swaps.

Tokens supported by USD Swaps

  • USDT (token contract “tethertether” on EOS)
  • EOSDT (token contract “eosdtsttoken” on EOS)

Both tokens are wrapped by the Telosd cross chain bridge (Telos contract “telosd.io”, EOS contract “telosd.io”). The bridge is decentralised, using five reporters to witness transfers on one chain and communicate to the other. It requires 3/5 consensus to complete cross chain transfers.

New tokens introduced by USD Swaps

TLOSD (Telos Dollar)

TLOSD (Telos Dollar)

TLOSM (USD Swaps liquidity token)

TLOSM (USD Swaps liquidity token)

Useful links

Telegram : https://t.me/tswaps

Twitter : https://twitter.com/tswaps_com

The first DeFi project on the Telos Blockchain offering token swaps, wrapped tokens and across chain bridge

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