Users can engage in the decentralized non-custodial money market protocol Tectonic as either liquidity suppliers or borrowers. Borrowers might obtain liquidity through excessively collateralized borrowing, while suppliers supply it to the market in order to generate passive revenue. So far, we have given a brief introduction to the Tectonic platform. The rest of the article is a review of Tectonic crypto and the platform’s token, TONIC.
A Brief Review of Tectonic Crypto – 2023
On December 23, 2021, the Tectonic decentralized finance (DeFi) system debuted its mainnet. The protocol intends to offer users the option to rapidly borrow money against their assets or generate passive interest on their funds through cross-chain decentralized money market services.
Deposits from savers provide the liquidity needed to provide variable-interest loans to borrowers. The smart contract mechanism used by Tectonic, which uses computer programs that automatically run after specific criteria are satisfied, bases interest rates on the supply and demand for assets. There is no lock-up period for withdrawals. Thus, depositors can generate passive returns or interest.
“Interoperability will be at the core of Tectonic. Apart from having Ethereum (ETH)-based assets on Tectonic, Cronos, being IBC-enabled, will allow us to facilitate the lending and borrowing of any Cosmos (ATOM)-based assets. This enables us to fulfill our vision of being the cross-chain money market between EVM chains and the Cosmos ecosystem.”
Tectonic blog
History of the Tectonic
Particle B, a startup accelerator that specializes in supporting products based on the Cronos and Crypto.org chains, served as the incubator for Tectonic. The platform was started by Gary Or, a hacker, entrepreneur, and product designer who had a passion for blockchain technology. Or has more than ten years of expertise in full-stack engineering and served as the previous CTO of Crypto.com, where he led the end-to-end development of cryptocurrency solutions for use in banking, trading, and payment services.
Roadmap
The platform’s roadmap for the end of 2021 and 2022 are as follows:
- End November 2021
Whitelisted Alpha Launch. Tectonic will be available for whitelisted users to lend and borrow assets on its platform at a capped amount. We will be releasing whitelisting instructions soon [End Nov Update: Alpha Launch will be postponed to Mid-December]
- Mid-Late December 2021
Mainnet Launch with Liquidity Incentive. Tectonic Mainnet launch where all users can lend and borrow assets without a cap. $TONIC emission begins to incentivize lenders and borrowers.
- Q1 2022
More Supported Tokens. Tectonic will increase the number of tokens supported for lending and borrowing, focusing on cosmos-based assets and high-priority assets from other EVM-compatible ecosystems.
- Q1 2022
Launch Tectonic Community Insurance Module. Enabling users to stake or lock their $TONIC to help secure the protocol and generate additional yield.
- Q2 2022 and Beyond
Launch Leveraged Yield Farming. Implementation of leveraged yield farming service for users to maximize yield from their existing holdings
Launch Tectonic Governance. Implementation and release of the Tectonic governance module using the $TONIC token
Tokenomics
Launched in December 2021, TONIC is a cryptocurrency token. The price of one TONIC is a small fraction of a cent, and the entire supply is 500 trillion. According to the current tokenomics, the distribution looks like this:
- 23% goes to the Tectonic team
- 13% goes to the ecosystem reserve
- 13% goes toward network security and maintenance
- 50.9% is dedicated to community incentives and rewards
The native token of Tectonic is $TONIC, which serves as the platform’s governance token. At first, the Tectonic core team is in charge of overseeing the protocol. However, as time goes on, the community/stakeholders will take over governance.
TONIC is traded on Crypto.com Exchange and Hotbit. Moreover, as of this writing, the price of the TONIC token is $0.000000181, according to CoinMarketCap data. In addition, the token price has increased by 1.19% in the last 24 hours.
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