TomoChain adds new products to the blockchain without slowing down and continues on its way. TomoChain has added a new one to its products in the defi field by announcing the TomoFinance which is built by Bacoor and Corefy Fintech partnership.
TomoFinance, built on obtaining TAI stable coin in exchange for TOMO collateral. Thanks to TomoChain, TomoFinance has 1/18000 lower gas fee compared to the Ethereum network, 80 times faster processing power than Ethereum, and industry-leading security levels with double verification and randomness techniques.
When you lock TOMO in TomoFinance for collateral, it is also staking in masternodes, so it allows your TOMO capital collateral to increase where it stands.
The TFI governance token is used to have a say in the development of the $TAI stable coin. If you want to review the TomoFinance project, use this link.
TomoChain created LuaSwap as multi-chain AMM dex running on Ethereum and TomoChain. All features were active in the Ethereum network, but farming was not possible in the TomoChain network despite staking. The team announced that, the farm feature is active on the TomoChain network on 20 April; thus cheap and fast farming will begin for LuaSwap. To try LuaSwap you can use this link.
TomoChain Used for Real World Solutions
At the end of 2020, TomoChain achieved a great adaption by doing partnership with the Vietnamese government to move diplomas and certificates to the TomoChain blockchain, Then, TomoChain's Co-Founder & CTO Son's tweet: "We want the Vietnam CBDC" was engraved in memory, signaling that work with the government would continue.
This year; ZoidPay, the crypto payment platform, decided to develop its project on the TomoChain blockchain. ZoidPay will serve as a mobile pos application with a crypto card. ZoidPay will briefly provide marketplace, crypto card services and allow conversions between fiat money <-> crypto. It will also produce a physical POS device (Toniq) that ZoidPay can be used with and integration with banks will be provided with it. ZoidPay will try to change banks in the Fintech space. The company that designed ZoidPay and Toniq is supported by a London-based firm (we can't reveal its name right now). This firm works with 90 big banks in 130 countries. If you want to review the ZoidPay project, use this link.
TABANK, another Singapore-based company, is preparing to provide digital banking, e-commerce, social networking and exchange opportunities on the TomoChain blockchain. TABANK, which was published in Singapore's International Business Times newspaper, is currently continuing the ICO process. TABANK planning to terminate the ICO in August and preparing to launch its mobile application like August-September. If you want to examine the TABANK project, you can use this link.
In addition, 4 more projects with non-disclosure agreements are developing on TomoChain. These are on the furniture marketplace, healthcare, food logistics and entertainment industry. These projects have been demoing for a long time, but their names and whether or not they will unleash their products have not been announced yet.
NFT Games On The Way
Although NFT became popular in 2021, NFT token creation on the TomoChain network was active in 2020 as well. Pantographwas the first project to take NFT steps on TomoChain. As you can see from their website; NFT marketplace was created on collections, signatures, tickets and many other things. Creating NFT on the Pantograph is child's play. To try it click here. Also Pantograph is demoing NFT games with PantoBelt and Frame C Battle as well.
There have been rumors that more NFT games are being tested on TomoChain. We may see games like CryptoKitties and Adopt Me on the TomoChain chain in the future!
If you want to learn how to create NFT on TomoChain you can visit this page.
What Else Will Happen?
CEO Long Vuong pointed out that he was going to switch TomoChain to a new model. Saying; "there should be a new governance and DAO token." Most likely, a system is being built in which TOMO stakeholders will earn DAO tokens in addition to earning TOMO.
According to community manager of TomoChain Turkey; CEO of Long Vuong said "FTX exchange works for the deposit/withdrawal infrastructure for TRC21 tokens which is in the TomoChain network". Also in the same speech, Long Vuong informed that IDO Launchpads are on the way.
While they were being debated over whether these were just empty rumors, CEO Long Vuong tweeted extensively confirming both the DAO token and IDOs.
Earlier in the year, BDP was earned by staking with TOMO's ethereum version (TOMOE) in the token distribution of BigDataProtocol with fairlaunch. We anticipate that TOMO will be able to participate in other fair events in the future.
Team is working on TomoBridge v2; among the claims that have not yet been verified, there are rumors of integration with Solana and Binance Smart Chain. Currently, the only link with Solana is wrap/unwrap for LUA & TOMOE between Ethereum network.
Looking at the TomoChain GitHub, Rosetta Gateway appears to be a work. Since it is necessary to integrate with Rosetta Gateway to be listed on Coinbase, this makes people like: "is coinbase coming?"
In the TomoChain forum, a positive response came to the call for incentive hackathons for new developers to make dApps on TomoChain.
Two weeks after this proposal, TomoChain announced that they will attend the hackathon event as a community partner which will be on 4-6 June with Cosmos and KryptoSeoul.
TomoChain Lab Postponed TomoP Protocol
TomoP is a protocol that allows the fastest secret transfers in under 4 seconds without the need for an intermediary. TomoP expected to be released in the first quarter of 2021. But at the beginning of 2021, it was put on hold due to the trend of delisting privacy coins from crypto exchanges. CEO Long Vuong explained that the environment may need to be researched a little more and TomoP needs a few changes. However, in the previous AMA, he said "we have to wait several months". So he gave the message that TomoP could be added to the TomoChain blockchain this year; but there is no official announcement.
Having a hard working team, TomoChain is well connected in Asia. CEO Long Vuong's friendship with FTX CEO Sam Bankman-Fried is very important. Institutional investors are increasing their interest in TomoChain and they are running masternodes. TomoChain, criticized by the community in the field of marketing; if it can make up for this deficiency and the sensations come true; TomoChain will undoubtedly be one of the immortal project of the blockchain area.
*To learn basic informations about TomoChain, check our TomoChain Review article which we published on 19 May 2020.
*You can join our telegram group to be informed about news and analysis faster. To join our Telegram group click here.