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Tectonic Crypto aims to deliver secure, seamless digital asset money market operations. TONIC holds a supply of 500,000,000,000,000 and is used for governance.
Introducing Tectonic Crypto made it effortless for crypto fans to borrow and lend funds to Decentralized Finance (DeFi) facilities. The Tectonic platform, with its native token, TONIC, delivers a cross-chain market for gaining passive income and getting instant-backed loans.
Let’s uncover the facts and features of the Tectonic platform.
What is the Tectonic Crypto?
Tectonic is a DeFi protocol introduced on 23 December 2021 by Particle B. and offers cross-chain decentralized money market facilities. Here, users can earn passive income or borrow money instantly and hassle-free.
With Inter-Blockchain Communication (IBC), the platform permits individuals to lend and borrow assets across different blockchains even though it’s working on the Cronos blockchain. The protocol offers liquidity for lending at various interest rates.
Additionally, the intelligent contract algorithm measures rates based on supply and demand and permits depositors to earn interest without locking the asset for an extended period.
The Roadmap
It’s been almost one year since the Tectonic network broke ground on a money market protocol and became a strong pillar of the Cronos ecosystem. The platform hit many milestones to secure a strong position with more room to run.
The isolated leading pool was one of the significant milestones achieved by the platform. Even though the network is supposed to expand its offering, all are prepared to add additional pools with a unique set of parameters. Security and expanding options to users are the main areas of focus.
With the upcoming launch of new pools, partnerships, and tokens, the platform also wishes to offer its users rewards from other protocols. To do so, the platform is working to add a facility to receive rewards in TONIC and other tokens.
Other significant milestones on which the Tectonic platform works hard include NFT staking, notification service, Ambassador program, and Auto Vault Emission.
Additionally, the platform continuously works to improve the user experience with the protocol.
Some Outstanding Features of Tectonic
Instant liquidity at the fingertips and the generation of passive income on assets are a few of the things that make Tactonic Crypto a standout performer. However, some additional features make the protocol the backbone of the Cronos blockchain.
Diversification: Product diversification is a feature that permits users to acquire alternative cryptocurrencies through Initial Coin Offerings (ICOs). Individuals can lock up their holdings without selling to develop a strong portfolio and exposure to different digital assets.
Loans: Instant and cryptocurrency-based loans for different motives are another unique feature of the Tectonic platform. Users can use the loans for short-term trading, farming, or other investment activities.
Passive income: The tectonic platform offers a chance to make passive income by earning interest on assets. Lending the assets to the protocol helps users make money without managing the digital assets.
TONIC Tokenomics
The TONIC token is used for governance, staking, and rewards and is earned by participating in the Tectonic protocol actions. It has a total supply of 500,000,000,000,000 TONIC and a circulating supply of 247,733,879,909,099 TONIC.
According to CoinMarketCap data, TONIC’s all-time high price is $0.000004029, recorded on 23 December 2021, whereas the all-time low price was $0.00000008151, documented on 30 December 2022.
Regarding token allocation, 23% of the total supply is reserved for the team, whereas 0.1% is allocated for airdrop. 13% of the share is for ecosystem development, and the other 13% is reserved for network security and maintenance.
The remaining 50.9% is secured for the Tectonic community members as liquidity staking/mining rewards or participation incentives.
Conclusion
Tectonic is a decentralized non-custodial money market protocol that gives users access to passive income and instant loans. Compatibility with a broad range of blockchains, functioning with countless digital assets, and backing for Cronos blockchain make Tectonic a stand-out performer.
FAQs
How to supply assets to Tectonic?
Selecting the market page, choosing the asset type, and confirming the same help in supplying assets to the Tectonic platform.
How do you borrow assets from the Tectonic platform?
For borrowing, the user first needs to supply an asset and allow it to be used as collateral. Afterward, the user can borrow assets by hitting the “Borrow” option on the page.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
