Cost-effective DeFi Trade and stake digital tokens on TRON

TofuDefi is a permission-less decentralized DeFi solution that combines several independent DeFi protocols.

First one is a TofuSwap. The TofuSwap is a protocol for automated token exchange on the TRON network. TofuSwap based on the same idea as constant product Uniswap protocol, but it will utilize several recent improvements like StableSwap and other recent developments.

Second is a TofuBridge. The TofuBridge is cross-chain bridge providing easy token transfers between EVM compatible blockchains. More precisely it will collect native tokens on the one blockchain and keep them as collateral while issuing wrapped tokens on the other. These wrapped tokens can be traded on TofuSwap or used in other DeFi protocols.

Third one is a TofuOracle. In the first stage it will provide a connection to the external data from real world and alternative chains to maintain TofuBridge. In the next stage of development we will focus on more general use cases.

At the moment, the vast majority of DeFi applications are built on the Ethereum blockchain. Unfortunately, the Ethereum Network has become overloaded. As a consequence, Ethereum network transaction fees have surged and hit all-time high recently. Alternative blockchain platforms provide better transaction speed and lower fees, but Ethereum has first-mover advantage. Numerous cryptocurrency projects were launched based on Ethereum platform and use ERC20 tokens. But if your dApp is transaction intensive, Ethereum does not seem to be a good choice ath the moment. The number of daily transactions on the Ethereum network related to Uniswap’s V2 Router contract only reached a new all-time high of 198,643 on September 2 with 10,540 ETH paid in fees which was about $5 millions at that moment. Meanwhile, average TRON’s transaction fee is about $1.5 now, so 200k transactions will cost its users about $300,000.

The TofuBridge will allow transfer of tokens from Ethereum to TRON blockchain by collecting tokens on the one blockchain while issuing wrapped tokens on the other. The TofuSwap will be used for automated token exchange of such tokens on the TRON network. This will allow our users to trade with low fees. The TofuSwap will have several improvements to bring more profit for liquidity providers and users.

Careful consideration and comparatively simple design gives the Tofu Project a strong competitive advantage over similar projects to become a real player in the DeFi space.

Our cross-chain capability enables greater speed and scalability for a superior user experience. Building upon EVM compatible chain provides a complete solution to scaling issues with blocktime as low as 3 seconds, instant finality and lower transaction fees; all the while leveraging the familiarity, community and network of the Ethereum blockchain.

Our solutions are built with a focus on providing a seamless solution for users to trade and stake their assets.

TOFU is non-refundable utility and governance TRC-20 token which will be used to empower community governance of the Tofu Project. The token will have multiple use cases relating to governance and platform utility. Holders of TOFU tokens will be able to debate, propose, and vote on all changes to Tofu protocols.

TOFU's contract address is: TTgnhmov3ezeUGxnfDdjvDt4WhNXDUD3bT
TOFU token does not in any way represent any shareholding, participation, right, title or interest in any company or legal entity. TOFU will not entitle token holders to any promise of fees, dividends, revenue, profits or investment returns, and are not intended to constitute securities in Singapore, Hong Kong or any relevant jurisdiction. TOFU may only be utilized on the Tofu platform, and ownership of TOFU carries no rights, express or implied, other than the right to use TOFU as a mean to enable community governance of the Tofu Project platform and protocols.

81% of tokens will be distributed within Tofu community and 19% will be reserved for the team.