The decentralized stablecoin TiTi Protocol announced that it will officially launch the zkSync mainnet on June 28, and open the Massive Rewards Contest. A total of 2.8 million TiTi tokens will be provided as rewards in this event. TiUSD is a stablecoin issued by TiTi Protocol, and $TiTi is the governance token of the protocol. Prior to this, TiTi Protocol has been launched on the Ethereum mainnet, and successfully completed the IDO and the first round of airdrops.
What is TiTi Protocol?
TiTi Protocol is a fully collateralized, multi-asset reserve, bankrun resistant, use-to-earn decentralized stablecoin. With its new paradigm, TiTi Protocol becomes the first stablecoin that adopts “Use-to-Earn” and prevents bank-run inherently. Through the design of Use-to-Earn, TiUSD becomes the first interest-earning stablecoin.
The vision of TiTi Protocol is by establishing a currency system that is highly adapted to Web3 users, we issue a fully collateralized, highly liquid, and revenue-earning algorithmic stablecoin, and provide a series of financial services based on this, bringing more global users Diversified DeFi services.
Previously, TiTi Protocol announced in April 2022 that it had completed a financing of $3.5 million led by The Spartan Group, with participation from SevenX Ventures, Incuba Alpha, DeFi Alliance, Agnostic Fund, Fourth Revolution Capital (4RCapital), Solidity Venture, and other institutions, as well as other individual investors including 0xb1 (Fold Finance), Tascha and Nipun (Alpha Venture DAO), and Michael (Fantom).
In addition, TiTi Protocol has completed a 3-rounds smart contract Audit by Slowmist, Hacken and Peckshield.
TiTi Protocol zkSync Mainnet will be Launched soon!
TiTi Protocol announced that it will officially launch the zkSync mainnet on June 28, becoming a decentralized stablecoin supported by multiple chains (Etherum and zkSync), and plans to expand to other chains later, such as Polygon, Arbitrum, etc. When the zkSync mainnet goes live, TiTi Protocol will plan to launch the TiTi zkSync Massive Rewards Contest. At the same time, the Ethereum mainnet will continue to distribute 2.8 million $TiTi as rewards.
Massive Rewards Contest is divided into two parts:
Event 1: TiTi zkSync Era Community Carnival
Time: June 28-July 26
Reward: 200,000 $TiTi tokens
Link: https://galxe.com/TiTiProtocol/campaign/GCHbuUNh6al
Rules: Complete the TiTi Protocol Galxe task to share 200,000 $TiTi token rewards
Event 2: Zero Risk MMF Farming
TiTi Protocol will allocate a total of 2,800,000 TiTi tokens from the community incentives as rewards for Epoch 1 of the zkSync Era Mainnet launch and Eth mainnet Epoch 2. Users can yield farms with Zero Risk by depositing USDC in MMF and other more mining strategies to earn TiTi tokens rewards. Remember, MMF is free of limit, you can withdraw any time you like and claim rewards.
- zkSync Era Epoch-1 Time: June 28-July 26, 8:00 AM, UTC
- Ethereum Epoch-2 Time: June 16-July 14, 8:00 AM, UTC
- Reward: 2.6 million $TiTi tokens
How to Yield Farming with Zero Risk in MMF? Click here.
How to Maximize My Earnings using TiTi Mainnet？Click here.
In addition, TiTi Protocol officially stated that if TiTi Protocol receives the official zkSync airdrop in the future, it will be distributed to users who have interacted with the TiTi Protocol zkSync mainnet.
Advantages of TiTi Protocol
In TiTi Protocol, the MMF module can bring users a zero-risk, zero-cost experience. MMF is a new paradigm of DeFi yield farming products launched by TiTi Protocol. The full name is Market Maker Fund. MMF is a product for users to farm by providing liquid crypto native assets. There are two types of income from MMF Yield Farm. The first is the governance token of the TiTi protocol, TiTi Token. The second type of income is the slippage income of the native crypto assets during the minting and redemption process of the TiTi Protocol’s stablecoin TiUSD. In the early stage of the project, this income was USDC. After the project introduces multi-assets, the benefits will be diverse, such as WBTC, eth and other native crypto assets.
Providing liquidity in MMF is zero risk, it’s Principal Guaranteed Deposit. As an innovative paradigm, Your deposited Liquidity in MMF can not be swapped because it’s only used to deepen the liquidity and calculate the slippage when users mint and redeem TiUSD in TiTi-AMMs. It’s a brand new AMM virtual liquidity algorithm that can effectively reduce slippage and controls TiUSD’s issuance. It must be clear that, when stablecoin users are minting or redeeming TiUSD in TiTi-AMMs, the liquidity you provided in MMF will never be used to transfer to them. The fund are just used to amplify the Pool’s liquidity. You can 100% unstake and withdraw your funds no matter how stablecoins price are change.The liquidity provided in MMF is single sided token, USDC, and there is no need to do LP pair, no need to buy TiUSD, so there will be no impermanent loss, which greatly reduces the threshold for users to participate in the use. There are no other risks such as liquidation, and there is no need to set a series of parameter settings such as liquidation lines like participating in MakerDAO.
- High Capital Efficiency
The design of TiTi-AMMs improves the capital efficiency of TiTi Protocol. Users only need to provide TiTi-AMM with unilateral liquidity, and the agreement will calculate and mint equivalent TiUSD for them. The unique stable mechanism, these TiUSD will be stored in trading pairs to enhance liquidity, greatly improving the liquidity and capital efficiency.
In TiTi MMF, users only need to provide unilateral liquidity to make a market to earn income, and there is no need to provide bilateral liquidity. At the same time, user funds in MMF can be withdraw at any time with zero risk and zero cost, which greatly improves the utilization rate of funds.
- The First Use-to-Earn Stablecoin
Use-to-earn, the first ever stablecoin tokenomic design that will tremendously boost decentralized stablecoin user adoption. Use-to-earn is a brand new stablecoin earning concept, it’s short for using stablecoin to earn protocol fee passively and proactively. To be specific, use-to-earn means that users can earn protocol fees by holding or using TiUSD.
At this stage, there are three behaviors that can trigger Use-To-Earn: buy (mint) TiUSD on TiTi-AMMs (Swap), holding TiUSD, and buy TiTi on Uniswap. When users perform the above three behaviors, they can obtain additional benefits. The reward for Use-To-Earn is TiTi token in the early stage, and TiTi token & protocol fee in the later stage.
- TiUSD is a stablecoin that naturally prevent Bankrun
The mechanism of TiTi Protocol has a natural barrier to prevent Bankrun, and Reorders play a key role. The most important measure to prevent Bankrun is that Reorders can collect the slippage caused by the price deviation from the pegging while restoring the TiUSD price. The slippage will be distributed to Rainy Day Fund instead of taken away by arbitrages due to TiTi’s unique AMM design. When the selling pressure of TiUSD increases, Reorders will charge more slippage, forming a cycle until the price of TiUSD returns to $1.
When Bankrun inevitably happens, TiTi will take the initiative to change the minting and exchange price of users in TiTi AMM to RR (RR is the ratio of Collateral assets in TiTi’s Multi-Asset Reserve against TiUSD in circulation) instead of $1. This will effectively prevent bankrun. In addition, the slippage of redeeming users will cover RR through Rainy Day Fund to reduce the loss of others.
When the RR is constantly replenished, approaching or even greater than 100%, the bankrun crisis of the agreement is lifted. As a result, the protocol is able to have more time to react and stabilize user confidence.
What TiTi Protocol brings to zkSync?
TiTi Protocol is proud to announce that it is officially deployed on zkSync.
zkSync is a zero-knowledge-based Layer 2 solution for the Ethereum network. One of the reasons why TiTi Protocol chose zkSync is that all zkSync transactions are certified on the Ethereum main chain, so users enjoy the same level of security as Ethereum, and the gas fee is lower. TiTi Protocol users can use TiUSD without paying high gas fees, and anyone can contribute to zkSync. As zkSync continues to mature and more and more projects appear on zkSync, zkSync will provide developers with a better building space, and we are willing to accompany zkSync to grow together.
The decentralized stablecoin TiUSD issued by TiTi Protocol is the native stablecoin protocol of zkSync. As a completely decentralized, multi-asset reserve, use-to-earn and naturally prevent bankrun stablecoin, TiUSD will greatly promote the on-chain transactions and usage of zkSync. Bring more incentives and a more stable decentralized stablecoin to zkSync users.
Most importantly, TiTi Protocol has very powerful basic components and innovative modules, which greatly enrich the infrastructure of zksync ecological DeFi.TiTi Protocol will cooperate with more DeFi projects in the zkSync ecosystem to unlock more powerful DeFi gameplay and provide diversified financial services.
Summary
TiTi Protocol aims to bring a new elastic supply decentralized stablecoin solution to DeFi and Web3. Compared with existing stablecoins such as USDT, DAI, FEI, etc., TiTi Protocol has six major advantages: decentralized, high capital utilization, more stable efficiency guaranteed by risk-proof reserves and multi-asset reserves, and resistance to volatility risks. Its stablecoin TiUSD will become a new type of trading medium in the crypto world, while meeting the investment needs of different investors.
As a fully decentralized stablecoin, TiUSD is pegged at $1, free from regulatory scrutiny and political constraints, and suitable for use as a medium of exchange. In addition, TiTi clears risks and is more user-friendly. Rain Day Fund can recover transaction slippage and serve as a continuous source of funds, which improves the protocol’s robustness against market fluctuations. TiTi Protocol’s new Use-to-Earn token economic design will maximize the benefits of DeFi users and realize the interoperability of decentralized stablecoins with other DeFi projects, bringing new solutions to the DeFi and Web3 ecology.
About TiTi Protocol
TiTi Protocol is a decentralized, 100% collateral backed, crypto native stablecoin, aiming to provide diversified and decentralized financial services based on the crypto-native stablecoin system and autonomous monetary policy. TiUSD is the stablecoin issued by TiTi Protocol.
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