We would like to introduce a new project named Tsunami Exchange within the Waves network. Tsunami is a Perpetual Futures Exchange. It allows users to trade Waves, BTC, ETH, and many other tokens and assets on leverage in both long and short directions. Besides, Tsunami also employs virtual market maker (vAMM) technology offering its users unlimited liquidity and low price impact.
You may use leverage for trading up to 5 times. What is unique about the Tsunami protocol, is that you may also trade futures on NFT (Collection floor prices), Commodities (Oil, Gas Gold), and Stock (TESLA is planned). This indicates that the Tsunami Exchange is expected to have a major effect on the market status quo and equilibrium.
Tsunami is a Decentralized Platform
The focus and aim of the Tsunami Exchange are to create a platform against the mainstream concept of centralization. It is planned to operate in a decentralized, verifiable, reliable, and on-chain manner. It also leverages the virtual automatic market maker (vAMM) and the latest DeFi technologies. Another feature of the protocol will be the natively integrated NFT collection trading such as Punks and BAYC.
Sustainable Trading Experience with Different Assets
Tsunami Exchange operates on the Waves Network. Thus, it is possible to trade multiple assets within the network. You can trade major assets such as Bitcoin and Waves. It will also offer different trading opportunities to its users. Basically, Tsunami supports transactions with commodities such as Oil, Natural Gas, Gold, and other investment instruments. For example, it prevents users from missing other opportunities in processes where the cryptocurrency market is progressing poorly.
Tsunami Governance with TSN Token – Everyone in Management
Tsunami has a governance token named TSN. It allows users to have a say in different decision-making processes such as new listings and platform fee changes on the platform by voting. Additionally, TSN holders can earn a return on transaction fees by staking the TSN tokens they hold.
Things to Know About TSN Distribution
TSN is now listed on Waves Exchange and Swop.fi in USDN pairs, and it is also aggregated by the aggregator on Puzzle Swap, which allows you to exchange a token for various tokens of the Waves ecosystem using a smart algorithm, determining the best exchange prices. If you want to raise your voice in the Tsunami Exchange governance or simply if you want to get the TSN, you can keep reading.
It is launched with the “Fair Launch” model. This term indicates that any participant can participate on equal terms, and there are no VCs on board.
TSN tokens reserved for the team are locked for 6 to 24 months. With this decision, it is aimed to ensure price stability after the launch.
The launch price of each TSN token was set at 0.2 USDN. Taking into account that 1 million TSN could be sold, the initial market value of TSN was determined to be 200,000 USDN.
Tsunami did not attract any VC capital. In addition, no sales were made before the ILO (Initial Liquidity Offering). During the ILO process, the price per 1 TSN token was raised from 0.2 to 6 USDN.
The mainnet and the TSN token have both been launched. TSN can be traded on Waves Exchange, Swop.fi, and Puzzle Swap. Besides, there are liquidity pools with TSN on Puzzle Swap attracting people who want to earn with high APY rates.
Recent Updates on Tsunami Exchange
Mainnet is online and you can trade with Tsunami Exchange! There are currently six pairs in USDN; WAVES, Pluto, WEST, EGG, Bitcoin, and Ethereum.
Tsunami team burned 100,000 $TSN after 250,000 TSN of the liquidity from the ILO pool had been extracted. The protocol decided to allocate 150,000 TSN to the mining incentive. Total supply of TSN is 900,000 TSN.
The mining incentive is here to incentivize the trading activity on Tsunami and the maximum amount of TSN to be distributed monthly is determined to be 6250. All traders paying fees can benefit from this incentive. The claimable rewards are distributed after the weekly fees are calculated. For more information, you can check the related article.
Tsunami incurs a flat 1% fee on opening of each position on the platform. Half of the fee goes to an insurance fund that helps to stabilize a protocol and close underwater positions. Another half distributes to TSN stakers as a reward. With a theoretical daily trading volume of 500,000 USDN, stakers could receive up to 295% APY as a reward.
In short, Tsunami Exchange comes with great features and offerings. It allows its users to buy and sell futures, make use of several arbitrage tools, check asset forecasts, and while doing all this enjoy the low network fees of Waves! Besides, holders of the TSN token can vote for the decision-making processes of the protocol as well.
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