TomoDEX is the first decentralized exchange powered by TomoX protocol, run by the TomoChain team. And will be the primary DEX of TomoX.
A platform for developers and companies to create and launch their own DEX running on the TomoChain Network.
TomoX supports major cryptocurrencies, TRC21 tokens and many other potential trading pairs.
Some of the key features that try to set this DEX apart from the ones in the Ethereum ecosystem are the blazing fast transactions, entirely non-custodial trades, and that liquidity will be shared with other TomoX DEXs through a common on-chain orderbook. Therefore, solving issues with the ETH DEXs like wide order spreads and minimal volume.
The incredibly efficient user experience and the beautiful interface is something that sets this DEX apart from other competitors. Being able to have all the necessary information with just a glimpse is something that many other exchanges could take a lesson from.
TomoDEX also brings us the lending feature. A decentralized peer to peer marketplace for permisionless crypto-backed loans that matches borrowers and lenders based on asset, interest rate, and term.
This makes getting a loan an extremely easy event, as it is basically setting a buy or sell order with your desired interest rate in the corresponding pair. For example: 1 Day/USDT. However, you need to use TOMO as collateral.
Definitely a game changer for people that would like to get into being a lender, as you could even get to 18% interest rate on 90 days loans.
Trading fees on TomoDEX are one of the weak points as far as we can see, as they are quite high compared to the other competitors. Being 0.1% for both buyers and sellers.
The fee is charged in the Quote Token at the time the order is matched.
For example: TOMO/USDT
TOMO is the Base Token
USDT is the Quote Token
So, the trading fees will be charged in USDT.
Lending fees are nonexistent for the lender, but the borrower will be charged 0.5% of the total loan amount payable in the lending token.
For example: If a user wants to borrow 1,000 USDT, he will be charged a service fee of 0.5% * 1,000 = 5 USDT.
Promising projects need exposure, and to be in contact with the community is one of the main ways to garnish attention and love from them. TomoChain knows this quite well, as they are putting quite an effort into making this new TomoX protocol and their DEX shine as they should.
Currently TomoDEX has a Twitter, Medium and a Telegram Support Group.
Their twitter game is on point, as they are active, provide constant updates about new futures, competitions, advices, among other things.
The Telegram group shows a lot of users mingling with each other, and great support from the admin team, with even the CEO answering questions every now and then.
Medium is also a platform where they show constant activity, be it posting informative blogs, tutorials and even competitions from time to time.
They are definitely putting in the effort that is required for a project to succeed in regards to social media.
TomoDEX is as we have already noted, the primary DEX of TomoX, a protocol run by the TomoChain Network team.
Long Vuong (CEO)
The CEO of TomoChain is Long Vuong. He was previously the project lead of the successful NEM blockchain project.
Le Ho (Co-founder & CFO)
Previously Senior Investment Manager at BVIM and a former Director of the Investment Banking Division at HSC Securities Company.
Son Nguyen (CTO)
CTO of the project and an experienced and accomplished technical leader, former Director of Engineering, founder of the Blockchain Developer group with more than 800 active members.
TomoDEX is the first-generation decentralized exchange powered by the TomoX protocol. Built on the principles of blockchain, to allow users to be in control of their own assets. It tries to improve on many of the short comings of the Decentralized exchanges of the Ethereum ecosystem, and it certainly has the tools to do so.
The common on-chain orderbooks is something that is trying to improve on the minimal volume that these DEXs suffer from. But for this, many other DEX must be built using TomoX. Right now, it’s not living up to what they want it to be, but time is the key factor, as the protocol has just been launched a mere 2 months ago.
Another game changer is the new lending future, meant to add further liquidity to the blossoming network.
The TomoChain Network team has shown how hard working and dedicated they are to making their projects succeed, and this is something that they will certainly be on the edge to allow it to keep growing and flourishing with time.