Happy Weekend HODLers!
Here comes the fourth in-depth analysis dedicated to Torum, the amazing crypto-social I have the honor of being an Ambassador!
If you haven't read my introduction to Torum yet, I suggest you to read the previous articles:
- Crypto Social + DeFi + NFT: Intro to Torum
- Crypto Social + DeFi + NFT: Torum and the expansion on BSC
- Torum Crypto Social: DeFi & NFT will be launched in Q2
- Torum NFT Marketplace: A Fast & Friendly One-stop Gateway to NFT
Torum is the first social network designed for all crypto and blockchain enthusiasts, which rewards users who interact on the platform paying with its native token (XTorum).
The developing team yesterday released the third version of the whitepaper, here's the link: https://whitepaper.s3.us-east-2.amazonaws.com/torum-whitepaper-V3.0-EN.pdfThe project started in July 2020 with the launch of the social platform and it is rapidly expanding in DeFi and NFT. XTM token will be listed on the main exchanges starting from April, the team will announce shortly on which exchanges the listing will start.
The potential of the platform is tremendous in my opinion, but of course I invite you to do your own research as these are not financial advice.
So I decided to study the Torum Whitepaper to introduce you to the ecosystem that Torum is building.
But let's get to the topic of today's analysis: DeFi of the Torum ecosystem on the Binance Smart Chain.
Torum Finance: The Ecosystem’s DeFi Portal Powered By Binance Smart Chain.
In the Torum Whitepaper we find that Torum believes the DeFi trend will continue the growth pattern until it replaces exchanges on centralized exchanges in the near future. For this reason Torum is building and will shortly announce Torum Finance - an Automated Market Making (AMM) platform built on the Binance Smart Chain with new DeFi features.
Here are some highlights of the DeFi platform to be announced in Q2 2021:
- Fair Governance Token Distribution
XTF, the BEP-20 governance token of Torum Finance is only available to the liquidity providers on Torum Finance. The token will be provided to the liquidity providers of the XTM/BNB pool as an additional farming reward on PancakeSwap. - Cross-chain Swapping
An interoperability bridge between BSC and Ethereum blockchain will be built to facilitate the swapping of the XTF and XTM on both networks. The cross-chain flexibility will provide the community to utilize XTF and XTM on different networks interchangeably. - Staking NFT
NFT staking on Torum Finance will allow liquidity providers to enjoy higher rewards of the farming multiplier, ranging from 1.05x to 1.25x. - Interaction Farming Model
A staking multiplier that changes according to the user's activity on Torum social network. - Liquidity Burning
A deflationary mechanism to reduce the total supply of XTF.
Here are some pictures of what the User Interface will look like:
Earn crypto engaging in a crypto-centric social network:
Join Torum, the first social media platform built for cryptocurrency communities around the world, and earn XTM (XTorum) rewards for your daily and weekly engagement. XTM is the ERC-20 and BEP-20 utility token of Torum ecosystem and will be listed on exchanges in April or May 2021. Read Torum Whitepaper to figure out XTM token utilities and the potential of the platform: https://whitepaper.s3.us-east-2.amazonaws.com/torum-whitepaper-V3.0-EN.pdf. Sign up using my referral link and earn 75 XTM airdrop after email and phone verification: https://www.torum.com/signup?referral_code=makeitreal
