TIDEFI launches its Mainnet, DEX App, and unique TDFY Sunrise Pool Token Distribution
Decentralized finance (DeFi) continues to gain adoption as mainstream users look for alternatives to traditional banks and financial institutions. Between 2020 and 2022, the DeFi industry grew by a massive 865%, hitting $254.99 billion in December 2021 by total value locked (TVL)
Built on the premise to eliminate financial middlemen by utilizing blockchain smart contracts to run code that governs the rules between two counterparties, DeFi provides a new way for users to lend, borrow and save while bypassing traditional gatekeepers of finance such as banks and financial institutions.
One company that is pushing the boundary in DeFi space is TIDEFI, a crypto fintech startup that brings a unique platform and ecosystem to the cryptocurrency and blockchain industry. The new solutions will focus on financial services and empowerment, including the opportunity to rely on limited orders on its native decentralized exchange.
TIDEFI offers a standalone app that transcends the traditional approach of a browser-based system. The app will work across all major desktop distributions, with Android and iOS versions released later in 2022. A unified experience is essential in onboarding the next generation of crypto users while benefiting existing cryptocurrency enthusiasts.
Commenting about the launch, TIDEFI Co-founder and CEO Daniel Elsawey said: “Looking at the industry over the last couple of years, specifically in the exchange space, we wanted to build a secure DEX that leveraged the price discovery and speed of a CEX, whilst giving the user complete control of their funds. Combining this with chain agnostic interoperability, we are excited to offer a transparent ecosystem for our community to participate in.”
The launch of the TIDEFI Mainnet and DEX app marks a crucial milestone for the team. These new solutions came to fruition without VC funding or massive presales and are designed to distribute more value to the community.
That distribution will see 320 million TDFY Tokens – 32% of the total amount of TDFY minted at Genesis – issued to community members through the TDFY Sunrise Pool. In addition, the community treasury comprises 40% of all initially minted tokens.
Under the hood, the TIDEFI app relies on the Tauri open-source front-end framework. Several TIDEFI core team members founded Tauri. In addition, the team leverages Stronghold to tap into secure secrets management. Stronghold ensures no digital secrets or private keys are ever exposed to other applications or malicious actors.
Investor Andrew Goodwin SANE adds: ‘’Tidechain will allow corporates to reimagine rewards programs and by using TIDEFI as their pricing venue, allow interoperability of membership benefits for the users.’’
TIDEFI secured 2.5 million GBP in funding during its Seed Round and has a 20-member team dedicated to the project and its ecosystem. TIDEFI showcases that a more complex crypto project can come to market without ICOs, VC funding, or creating an unsustainable business model. The initial valuation should not be based on promises and speculation but rather actual value through utility.
Co-founded by CEO Daniel Elsawey, Tidefi is a novel decentralized exchange (DEX) for all kinds of digital assets that is built on the substrate-based Tidechain, a permissionless nominated Proof of Stake (nPoS) Blockchain. Tidefi brings together the speed and performance of centralized exchanges with primitives of decentralized finance (DeFi).
The Tidefi Token (Ticker: TDFY) governs both the underlying Tidechain network as well as creating new avenues for its holders to participate both in the validation of the network as well as the growth and revenue of the TIDEFI exchange.