TLOS added to USD swaps pool

We are excited to announce that the TLOS token now forms part of the USD swaps pool. This creates a clean conversion path between TLOS and wrapped USDT and EOSDT. The solution employs an innovative combination of a low price slippage USD pool with a conventional swap pool for TLOS-TOLSD conversions to deliver an optimised conversion experience for all supported tokens.

USD Stable swap pool

About the USD swap pool

The USD swaps pool is a low price slippage pool designed to allow swaps between popular USD stable coins, even with moderate liquidity depth. The price received in a token is set by the relative size of the liquidity pools. The low price slippage pool uses an amplifier to increase the effective size of the liquidity pools on the converter. The USD swap pool employs an amplifier of 40x.

USD swap pool tokens

The supports the following wrapped tokens (both tokens use the bridge between Telos and EOS);

  • USDT : Wrapped USDT from EOS (contract “tethertether”).
  • EOSDT : Wrapped EOSDT from EOS (contract “eosdtsttoken”).

In addition to these wrapped tokens, the USD swaps pool introduces two new tokens;

  • TLOSD : This is a US Dollar stable token collateralised by the USDT and EOSDT liquidity pools. It acts as a connector token between the USD Stable swap system and the TLOS-TLOSD converter.
  • TLOSM : This is the liquidity token for the USD Stable swap system. The system charges a 0.2% conversion fee on all token swaps. These fees accrue for the benefit of TLOSM token holders.

Advantages of this implementation

The alternative to this solution would be to have two swap pools (USDT-TLOS and EOSDT-TLOS).

  • The alternative would require approximately 2x the liquidity requirements of the implemented solution to achieve similar USDT-TLOS and EOSDT-TLOS conversion performance.
  • The alternative would require approximately 80x the liquidity requirements of the implemented solution to achieve similar USDT-EOSDT conversion performance.
  • The lower liquidity requirements of the implemented solution will likely provide better yields to liquidity providers.
  • The TLOSD token created through this implementation allows Telos projects who need a US Dollar stable coin but don’t want to adopt a specific wrapped token to choose a Telos branded alternative which is just as secure as the underlying collateral assets. :

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

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