Tidefi: Abbreviated Introduction
Centralized Exchanges (CEXs) are the dominant market sector for trading digital assets. It is no secret that they dominate across many metrics. However, time and time again, these exchanges fail, causing financial losses to users. Decentralized Exchanges (DEXs), on the other hand, proved to be more resilient than the CEXs and, clearly, an improvement from the user standpoint. Nonetheless, they are not without inherent limitations. Similarly, asset tokenization, beyond the hype, has not picked up due to many hurdles.
Tidefi seeks to address limitations prevalent in the current Decentralized Exchanges (DEXs) market and asset tokenization (i.e., Music, Rewards Programs, and Household Utility). The project pursued the difficult path and built an entire ecosystem.
Tidefi is composed of five main elements:
• Tidechain a distributed Substrate-based system, written in RUST that registers value transactions to the chain. Tidechain is the first user-controlled cross-chain swap chain. It is optimized for swapping digital assets seamlessly and directly, and it is part of the Substrate ecosystem that focuses on interoperability and creating a multi-chain future. Above and beyond, Tidechain delivers ultra-high transaction speeds.
• Quorum enables users to add and remove digital currencies from their third-party wallets. It is written in stable Rust.
• Oracle: An Erlang-based system that maintains and delivers the current state of orders, books, markets, and pools.
• Stronghold: Written in stable Rust, it isolates secrets and the activity of “privileged” procedures from other programs.
• Tauri is a generic and highly composable toolkit using a combination of Rust tools and is optimized for low resource consumption and high security. Tauri is the basis for the Tidefi App.
In September 2022, Tidefi launched Mainnet, a DEX App, and announced the TDFY Sunrise Pool Token Distribution. TDFY, the native token of the Tidechain blockchain, fulfills a central role in providing a cryptoeconomic security and incentive structure. The network currently has 25 validators and will soon expand to 100.
Tidefi raised $3.3 million during its Pre-Seed Round in December 2021. It has secured a tokenization deal with a beverage producer and plans to apply for a license in the UAE.
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