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Komodo completes P2P cross-chain token fundraise for NFT infrastructure challenge Tokel » CryptoNinjas


Komodo, an open-source generation supplier that gives all-in-one blockchain answers and pioneer at the back of AtomicDEX which permits protected and immediate swapping and switch of belongings between dealer wallets with out requiring AMMs, introduced lately it has effectively finished a peer-to-peer, cross-chain fundraise with Tokel, a tokenization infrastructure supplier.

The fundraise hired a special approach that guarantees customers can get entry to tokens with out the usage of computerized marketplace makers (AMMs). As a substitute, for the primary time, the fundraise depended on peer-to-peer, decentralized order books, introducing a extra financially viable and extra safe strategy to fundraising.

Token fundraise hacks have endured to plague the gap, with exploits on Uranium Finance – an AMM Uniswap clone constructed on Binance Sensible Chain – dropping $50M and Meerkat, additionally an AMM, for $31M.

Quite than the usage of an automatic marketplace maker (AMM), AtomicDEX is based upon peer-to-peer, decentralized order books.

This new fundraising mechanism additionally permits lowered charges because the liquidity type guarantees that buyers can lock in explicit alternate charges all over the IDO with no need to fret about slippage.

Prior to now, operating IDOs on AMM-based DEXs like Uniswap were problematic because of the algorithm-based bonding curve that determines worth ranges.

For instance, some buyers of UMA’s April 2020 IDO discovered themselves paying 10 occasions the supposed IDO worth, plus exorbitant gasoline charges at the Ethereum blockchain.

Atomix DEX

Komodo’s atomic switch powered DEX generation gets rid of main hindrances from the equation for each initiatives launching their belongings and collaborating cryptocurrency buyers.

Through the usage of a peer-to-peer resolution, AtomicDEX removes good contract exploits and rug pulls – not unusual problems that experience led to giant lack of budget on different DEX and DeFi protocols.

Moreover, AtomicDEX extends IDO compatibility to dozens of blockchain protocols, a lot of which give extraordinarily low community transaction charges.

The AtomicDEX resolution helps cross-chain, cross-protocol buying and selling throughout more than one networks by means of a blockchain agnostic protocol. Along with Komodo-based belongings, Bitcoin, Ethereum, Binance Sensible Chain, Dogecoin, and dozens of different blockchains are supported.

“We’re excited to have TKN change into the latest coin indexed on AtomicDEX and the primary to make use of AtomicDEX to release an IDO. This marks the most important milestone for the growth of our generation as we now be offering a plug-and-play possibility for honest release cash. I’m assured that different initiatives will observe in Tokel’s footsteps.”
– Komodo CTO, Kadan Stadelmann

Tokel is a challenge centered particularly on growing non-fungible (NFT) infrastructure for the Komodo ecosystem, with its roadmap together with an built-in NFT market for AtomicDEX customers.

“Komodo provides a really perfect resolution, each for launching an impartial blockchain with its personal local coin and for integrating right into a cross-protocol DEX. The on-chain buying and selling price for the KMD/TKL buying and selling pair is not up to a fragment of a penny, which is a substantial benefit overrunning an IDO on ERC-20 DEXs. Customers who take part within the IDO don’t have to have interaction with a sensible contract when buying and selling, so this fundraising mechanism is a lot more safe than what AMM-based DEXs be offering. Any other a very powerful get advantages is that AtomicDEX supplies a safe, integrated non-custodial pockets for customers to retailer their TKL cash.”
– Tokel Lead Developer, NutellaLicka

With the brand new mechanisms, the fundraise noticed an funding of just about $one million in Tokel (TKL).

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