Diving into DeFi on Shimmer
The decentralized finance (DeFi) sector is undergoing exponential growth, and we're pleased to welcome TangleSea’s decentralized exchange (DEX), the latest project to enjoy an early mover advantage by joining Touchpoint.
TangleSea aims to be one of the first DEXs to enable a secure and fast decentralized trading experience on Shimmer by leveraging the underlying IOTA protocol.
TangleSea introduces itself
TangleSea DEX is a decentralized exchange, currently being developed on the IOTA Smart Contracts Protocol. Our focus will be a fully decentralized automated market maker (AMM) service with low execution fees and features such as seamless liquidity mining, yield farming, and staking experiences. As part of this, our team aims to provide a clean and easy user experience that is tailored to attract private as well as institutional investors and users.
We're veterans of the IOTA community, and we all proudly identify as octopuses, with each one of us having three hearts, nine brains, and eight very useful tentacles. Together, we combine the passion of all those hearts with decade-long experiences in the finance and technology sector to bring a fast, sustainable and fun DEX experience to the community and the growing DeFi space.
We're developing a DEX that we would love to use ourselves. It should be fun and easy, trustworthy and safe, and most importantly, sustainable, both from an economic and environmental perspective.
Assembly, building on IOTAs feeless architecture, is well on its way to revolutionizing the DeFi space and provides a perfect sea bed for us to realize our values for a DEX. Therefore, we’re super excited to become a part of a community that builds on a permissionless and scalable multichain ecosystem, which will enable us to develop a faster and cheaper DEX without compromising on security.
Dive deep into the TangleSea by following it on Twitter or joining its Discord.
TangleSea joins the Touchpoint Open Builders Program, offering participants a community of like-minded builders, direct access to experts, knowledge, and general support to launch and scale the next generation of decentralized applications and infrastructure on the Shimmer network. You can learn more about how Touchpoint works and how to become a part of it here.
Shimmer is an L1 innovation network providing the core building blocks for a scalable, modular multi-chain architecture. Like the IOTA network, Shimmer is built on a UTXO-based parallelized, directed acyclic graph (DAG), guaranteeing higher scalability than conventional Blockchains. At the same time, Shimmer ensures interoperability and composability of L2 smart contract chains, capable of connecting any type of L2 smart contract chain anchored to it. With its unique tokenization framework, Shimmer will become a multi-asset ledger for feeless minting and transfer of native assets without middlemen or crippling gas fees.
The native token of Shimmer is SMR, which serves as the network’s economic backbone, facilitating value transactions and interactions within the Shimmer ecosystem. Shimmer users use the SMR token to launch new DeFi applications, DEXs, NFTs, DAOs, and other dApps.
Every project that participates in Touchpoint is given the opportunity to introduce itself in its own words. Statements made by projects are not verified by Touchpoint, Shimmer, or the IOTA Foundation and should not be taken as an endorsement. Individuals are advised to always conduct their own due diligence when engaging with any crypto projects.
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