[Singapore], April 11, 2022 – TiTi protocol announces a successful fundraising round of $3.5 million, led by 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). The project was incubated by Alpha Venture DAO. With this latest funding, TiTi Protocol aims to work with world-class investors to build the future of DeFi.
What is the TiTi Protocol?
TiTi Protocol is a fully decentralized, multi-asset reserve-backed, use-to-earn algorithmic stablecoin. TiUSD, the stablecoin issued by TiTi Protocol, will retain an independent monetary policy through its crypto-native infrastructure. Beyond that, TiTi Protocol utilizes a use-to-earn design engineered to streamline the interoperability of algorithmic stablecoins with other projects in DeFi, thus contributing to stablecoins’ user adoption and their benefit to the DeFi world.
How is TiTi different compared with other algo stablecoins?
As the protocol is tailored to boost the adoption of algorithms in stablecoin, there are many benefits for its users. Similar to this protocol are the Fraxfinance, Fei Protocol and TerraUSD(UST) platform. However TiTi will stand out due to the following aspects.
TiTi introduces Multi-asset Reserve to ensure stability and raises the upper limit for the issuance size. TiTi is a decentralized, multiple crypto asset-backed (not collateralized) stablecoin whose supply and demand are adjusted by an algorithm. Each and every TiUSD, the stablecoin issued by TiTi Protocol, is supported by sufficient crypto Assets in the reserve, such as WBTC, ETH, USDC etc. and further supported by the continuous revenue from Rainy Day Fund. Users do not need to worry about price off-peg during the process of using TiUSD. This makes TiUSD better than other algorithmic stablecoins, such as FRAX, Terra, etc.
High liquidity and scalability
TiTi put forward a new stablecoin issuance paradigm, TiTi-AMMs, greatly boosting stablecoin on-chain liquidity and scalability and increasing capital efficiency and free from impermanent loss. The most important use scenario for stablecoin assets is to serve as a user’s trading medium to reduce the cost of cross-asset transactions. So far, the general solution for improving the liquidity of stablecoin projects is to use governance tokens as incentives to encourage users to actively boost liquidity. The disadvantage of this approach is that liquidity is easily affected by the fluctuation of governance token prices. In the TiTi Protocol, all the assets issuing TiUSD will be used to increase the depth of TiTi-AMMs. This guarantees the creation of a stable and highly liquid TiUSD. Due to the high scalability of TiTi Protocol, the protocol supports more and more crypto assets as Reserve Assets in the future, further improving TiUSD’s liquidity and fully satisfying the transaction needs of different users, thus realizing the use-value of TiUSD as a transaction medium.
High user adoption
Use-to-earn, the first-ever stablecoin tokenomic design that will tremendously boost algorithmic stablecoin user adoption. The user adoption for major algorithmic stablecoin is the core of the organic market growth. Use-to-earn is a brand new stablecoin earning concept, it’s short for using stablecoin to earn protocol fees passively and proactively. To be specific, use-to-earn means that users can earn protocol fees by holding or using TiUSD. It seems that there is not much difference if users are using TiUSD or every other stablecoin & token as they usually do, trading, transferring, staking or asset hedging. However, if you dive in deep, you will know that TiUSD is actually an inherently interest-bearing algorithmic stablecoin. Because, TiUSD users or holders can claim extra rewards, the protocol fee, in a totally decentralized Merkle proof way.
What’s Next For the TiTi Protocol?
The future of this protocol is promising as there are plans for a mainnet launch with USDC being its first reserve, slated to happen in the first quarter of the year (Q3 2022). The third quarter (Q4) will see the introduction of certain reserves like ETH and DAI. There are also plans to spike up demand for TiUSD by introducing scenarios like lending to increase users’ interest subtly with DeFi projects like Compound and Alpha Venture DAO. The project intends to keep on building great products, as they aim for the future few decades and beyond.
About TiTi Protocol
TiTi Protocol is a fully decentralized, multi-asset reserve-backed, use-to-earn DeFi algorithmic stablecoin. Its unique design brings a new paradigm of algorithmic stablecoin solution to decentralized finance (DeFi) and Web3 that combines the Multi-Assets-Reserve mechanism and the peg mechanism of the Reorders algorithm. By doing so, it aims to take over the torch of algorithmic stablecoins and bring a brand new solution to DeFi and Web3 ecology. The project is also geared to keep designing products relevant to the future of DeFi and for the benefit of users.
For more information on TiTi Protocol, visit https://titi.finance.
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