Tomochain Ecosystem (TOMO) – Breakthrough possible?
Get an overview of the TomoChain ecosystem, thereby projecting the future and looking for investment opportunities with the Tomo system.
TomoChain is one of the blockchain “unicorns” of Vietnam and officially operated in 2017. So far, TomoChain has had certain successes in the domestic and international markets.
Today, I will map out and give personal comments so that you can visualize in the most detail and help you find the “hidden gem” in the Tomo ecosystem.
Overview of Tomochain
TomoChain is a blockchain platform built on Ethereum’s EVM. TomoChain was created with the mission of bringing blockchain technology to the real world, while allowing Dapp applications to be built on the Tomo platform.
- Current price: $2.25 (April 29, 2021).
- ATH price: $3.34 (September 6, 2021).
- ATL price: $0.14 (March 13, 2020).
- Marketcap: $193 million.
- FDV: $224 million.
- Circulating Supply: 86,235,962 TOMO (Total Supply: 100,000,000 TOMO).
- Rank: #273 (CoinGecko).
Tomo’s price chart from launch to September 2021.
Here is a comparison table of prominent blockchains with TomoChain:
- TPS: 1500-2000.
- Blocktime: 2s.
- Total transaction: 487,815,402 txs.
- AVG Txs Price: $0.025.
TomoChain blockchain comparison table with other blockchains on the market
Founders Team & Investors
TomoChain is Vietnam’s first blockchain project invested by major funds in the crypto market such as NEO Foundation, #Hashed, 1kx,…
The founding team and investors in the Tomo ecosystem
The development process of the TomoChain ecosystem
Below is an overview of TomoChain’s development from 2017 until now, including the launch of new products, the list of tokens on the exchange, and the cooperation with partners.
Roadmap of TomoChain ecosystem
Pieces of the TomoChain ecosystem
Up to now, Tomo has also completed a lot of puzzle pieces in the ecosystem, I will analyze with you in the order of DeFi Layer:
- Tooling: Basic tools for the Tomo ecosystem.
- Infrastructure Protocol: Includes 3 fundamental protocols for developers.
- AMM DEX & Lending: Two basic areas to help store liquidity for the DeFi market.
- Stablecoin: Stablecoin issue platform for Tomo ecosystem.
- Partnership: Partners related to the Tomo ecosystem.
- DAO: A management platform that decentralizes Tomo.
- Launchpad: Platform to launch new projects.
- Ventures: Investment segment of the Tomo ecosystem.
Projects in the tool area of the TomoChain ecosystem include:
- TomoScan: Blockchain explorer on TomoChain, similar to Etherscan.
- TomoStats: Real-time information from the Tomochain network such as Masternode performance, TPS,…
- TomoStatus: Update the overall performance of the products in TomoChain.
- TomoBridge: A bridge tool to help you transfer assets between TomoChain, Ethereum, Binance Chain and Solana.
- TomoWallet: This is a wallet application that allows users to store any assets belonging to TomoChain.
- Oracle: ChainLink, Band Protocol.
The basic tools in the Tomo ecosystem.
3 Infrastructure Protocols of the Tomo ecosystem
Tomo currently has 3 Infrastructure Procotol projects:
- TomoX: A protocol that makes it possible for projects to deploy decentralized exchanges on TomoChain without intensive management techniques. DEX exchanges will be optimized according to project requirements and are not required to use TOMO as transaction fees.
- TomoZ: A protocol that helps businesses and projects to deploy and set up custom tokens on the TRC21 standard easily. Their tokens can be traded right on TomoDEX with fast speed, low transaction fees and easy interoperability with applications on the Tomo ecosystem.
- TomoP: Anonymous transaction protocol on TomoChain allows users to transact with high security, fast speed and cannot be traced by normal scanning.
DEX & Lending
1. LuaSwap (AMM DEX)
Roadmap of the Luaswap platform.
Inspired by Uniswap, TomoChain has officially entered the DeFi game with LuaSwap.
LuaSwap is an AMM DEX platform that allows users to trade and provide liquidity (Farming).
The highlight of Luaswap is that it works on both Ethereum and TomoChain networks.
Currently, LuaSwap has updated with a new feature called Limit Order, allowing users to place orders with transactions.
There is also LuaSafe, which allows you to stake LUA to receive more LUA tokens.
Interface of the Luaswap platform.
2. TomoDEX (DEX + Lending)
TomoDEX is a decentralized exchange (DEX) launched before LuaSwap and operates on an Order-book mechanism. You can trade on TOMO, BTC, ETH, USDT pairs. In addition, this is also the Lending platform on Tomo’s ecosystem.
TomoDEX exchange interface
In April 2021, Tomo announced that it will launch Tomo Finance, which will be the DeFi Protocol that will allow Tomo to get closer to the DeFi market along with the Stablecoin sector.
Tomo Finance is having an Airdrop with a total prize pool of up to $5,000.
Operation model of Tomo Finance platform
Tomo Finance’s ecosystem will include 3 types of tokens:
- TFI: Tomo Finance’s governance token, allowing TFI holders to propose and vote for system changes and enjoy the rewards of Collaterized Debt Position (CDP).
- TOMO: Token “backing” the value of TAI, allowing users to mint TAI based on CDP.
- TAI: TAI is Tomo Finance’s stablecoin and has a 1:1 value to USD. The user can unlock the collateral at any time by returning the generated TAI plus the stability fee (~10%/year).
In August 2021, Tomo’s DeFi platform Luaswap added Launchpad product, which is the direction of most DeFi Protocols, similar to Pancakeswap with IFO added.
LuaStarter platform interface
Up to now, LuaStarter has not launched any projects. Here are some outstanding features of LuaStarter:
- Multichain offering: Launch projects on LuaStarter will be deployed on both Ethereum and TomoChain.
- Tier Guaranteed System: When participating in Launchpad, the number of tokens will be based on the tier (the number of LUA users hold) and always ensures allocation.
- Ecosystem Integration: Projects after launch will be listed and traded directly on Luaswap.
LuaVentures is an investment arm of the Tomo ecosystem. Up to now, LuaVentures has invested in 5 projects including: Coin98, Wanaka Farm, Rikkei Finance and Delta Exchange.
In addition, LuaVentures is also a partner with Serum, Bancor, Frontier, API3, Dapp.com and is fully supported by the Tomo ecosystem including Luaswap, TomoDEX, etc.
Main interface from LuaVentures.
DAOs are one of the most important areas that help strengthen the community power of an ecosystem as well as make them more decentralized, getting more value from the community.
Until August 2021, realizing the value from DAO (Decentralized Autonomous Organization), Tomo team launched TomoMasterDAO, this is a product that allows TOMO holders to contribute to the development of Tomo through proposals and votes.
Proposals that are approved by the majority of the community will be deployed, and the proponents will also receive rewards from TomoChain’s system.
TomoMasterDAO – Tomo network decentralized management platform.
In addition to the main applications, TomoChain has also linked with many partners to upgrade products or expand the scale of its operations.
Here are some of the partners that Tomo has associated with in 2021:
- Unmarshal: Provides On-chain data for developers in the Tomo ecosystem.
- Equalizer: Provide Flash Loan lending solution.
- Realio: Provides liquidity enhancement solutions for both protocols.
- UpBots: Provide strategic trading solution with trading bot.
- Defily Finance: Enhanced Cross-chain experience.
- Bonded Finance: Increase applicability for TOMO token on Bonded Finance.
- KNIT Finance: Collaboration to bring TOMO token closer to Multi-chain.
Projecting the future of the Tomo ecosystem
To be able to start expanding the DeFi market on the ecosystem, any ecosystem must have a good enough and “hard” foundation layer application.
I will summarize the layered applications that TomoChain owns:
- Infrastructure: TomoScan, TomoBridge, TomoX, TomoP, TomoZ,…
- Stablecoin: TomoFinance.
- Lending: TomoDEX.
- DEX: LuaSwap, TomoDEX.
- Ví lưu trữ: TomoWallet.
- DAO: TomoMasterDAO.
- Launchpad: LuaSwap.
- Ventures: LuaVentures.
Based on what Tomo owns, Tomo is very eager to enter the DeFi market, but the performance figures of DeFi platforms.
To be able to accelerate in the DeFi race, Tomo will need applications in the following fields, which are key areas to help attract the cash flow of users as well as developers from other ecosystems. with TomoChain.
- Synthetic Asset: Synthetix (Ethereum), Mirror Protocol (Terra),…
- AMM Liquidity Provider: Uniswap (Ethereum), PancakeSwap (BSC),…
- Lending: MakerDAO (Ethereum), Compound (Ethereum),…
The only way Tomo can catch up with the competition in the DeFi race is to work with the big partners above to integrate the missing key platforms, similar to how Avalanche started. hand with Sushiswap to integrate AMM.
DeFi is moving fast, and the window of opportunity closes for any ecosystem that doesn’t adapt in time. Therefore, ecosystems need to be prepared in all key areas.
Incentive Program of DeFi Ecosystems in the Market.
In addition, 2021 is also a year of very fierce competition for DeFi ecosystems.
You can see that only in September 2021, in a row, ecosystems have launched DeFi stimulus packages, the smallest is $100 million, the largest is HBAR with $10.7 billion.
These stimulus packages are not only a great incentive to attract developers, but also create an opportunity to attract a large number of initial users. If you don’t want to miss out on the DeFi race, Tomo needs to have stronger improvements in the future.
Investment opportunity in Tomo ecosystem
Invest in tokens in the ecosystem
Tomo ecosystem has 3 types of tokens that allow you to invest:
- TOMO: Native token of TomoChain and surrounding applications such as TomoFinance, LuaSwap.
- LUA: Native token of LuaSwap.
- TFI: Native token of Tomo Finance project.
Join DeFi in Tomo Ecosystem
- Join Farming at LuaSwap with pairs of TOMO, LUA, ETH, USDT, FTT, SRM,…
- Waiting for projects to open for sale on Launchpad of LuaStarter.
I will summarize some of the insights below:
- Tomo is heading to attack the DeFi market but has not enough potential and has not resonated.
- TomoChain needs to work with projects in the key fields to attract users (Synthetic, Lending, AMM Liquidity Provider).
- TomoChain’s Dapps need to change to a “decentralized” mechanism because currently Lending at TomoDEX is only one-way.
- Need more breakthrough features for LuaSwap and TomoFinance such as IDO Platform integration, support for multiple trading pairs,…
What do you guys think about the TomoChain ecosystem? Please comment below to discuss with idolmeta.net!