What is Tectonic? We will learn detailed information about the Tectonic project together in today’s article!
What is Tectonic?
Tectonic is a decentralized, non-custodial algorithm-based money market protocol that allows users to participate as liquidity providers or borrowers. With Tectonic, users can act as lenders or liquidity providers using a money market protocol. Providers provide liquidity to earn passive income, while borrowers borrow over-collateralized liquidity.
Tectonic is built on the Cronos blockchain, covering many areas such as Lending, Stablecoin, and AMM.
Tectonic provides operations for its customers. “HODLers,” for example, can provide assets to the protocol and earn additional interest without actively managing their assets.
Highlights of Tectonic
Low Transaction Costs
Tectonic is a decentralized finance (DeFi) protocol on the Cronos blockchain, aimed at facilitating lending and borrowing across different blockchains. Cronos uses inter-blockchain communication (IBC) to enable interoperability between the Ethereum and Cosmos ecosystems.
This will save Tectonic from having to pay very high transaction fees on Ethereum. The transaction fee on Cronos is only about $0.1, which is very small compared to Ethereum. This helps traders optimize their finances.
Effective Strategy
Although built on Cronos, Tectonic has expanded its network and support for many users based on the cross-chain protocol between Cosmos and Ethereum.
This will help Tectonic reach a very large number of customers, while also drawing a lot of liquidity for its protocol through users using cross-chain between Cosmos and Ethereum.
Mechanism of Action
We have briefly looked at Tectonic What is that? So How does this project work?
Liquidity is provided to borrowers through user deposits, which they can borrow at variable interest rates. According to Tectonic smart contracts, these rates will be adjusted based on each market’s usage rate.
Core Team
Updating…
Tokenomics
Overview information about TONIC token
- Token Name: Tectonic.
- Ticker: TONIC.
- Blockchain: Cronos.
- Token Standard: CRC-20.
- Decimals: 18.
- Contract: 0xdd73dea10abc2bff99c60882ec5b2b81bb1dc5b2
- Token Type: Utility, Governance.
- Total Supply: 500,000,000,000,000 TONIC.
- Circulating Supply: (Updating).
Token Allocation
- Team – 23%
- Ecosystem reserves – 13%
- Network Maintenance and Security – 13%
- Airdrop – 13%
- Community encouragement – 50.9%
TONIC Token allocation schedule
Token Use Case
Tectonic tokens are used to:
- Staking
- Voting and voting on project decisions
- Community insurance when incidents or unforeseen events occur
Exchanges
Updating…
Tectonic Information Channels
- Website: https://tectonic.co/
- Twitter: https://twitter.com/TectonicFi
- Medium: https://medium.com/tectonicfi
- Telegram: https://t.me/TectonicOfficial
Total keh
Together we learned what Tectonic is as well as detailed information about the project Tectonic and TONIC Token. It can be said that Tectonic is the first steps to affirm the strength of the Cronos ecosystem. Currently, there is still a lot of information about the project as well as the official product that has not been released yet. Let’s wait for the latest updates about the Tectonic project at HakResearch in the near future. Thank you for reading this article!
