New Timvi Secured Algorithmic Stablecoin Enters The Market

0 43


Sep 18, 2019 at 19:05 // News

The test mode of the new Timvi (TMV) secured algorithmic stablecoin was launched on September 17, 2019. The emission of the stablecoin is not subject to the influence of any third parties. The TMV will allow its users to earn both on a growing and a falling market. A bounty program with rewards of up to $15,000 is provided as part of the project’s launch.


In the process of creating the TMV token, the developers took into account the problems of existing stablecoins, such as those related to audits, and issues of centralization and trust. The TMV is a security token with a target price set at $1. Each token is super-secured by the ETH-deposits of the ecosystem’s participants. Any participant can check the security of any token, while the stability and emission of the tokens is provided by the TMV algorithm. 


By introducing the mechanism of recapitalization, the developers are not only providing the stability of the token, but are also giving users the instruments they need to earn money on both a growing and a falling market. 


The conversion of ETH to TMV takes place in the TBox repository, which is a special blockchain account within the Timvi ecosystem. The owner of a TBox can withdraw funds in ETH at any time, as well as close or transfer the TBox to any other user. In the event of account closure, the emitted TMVs are burned and the deposit is returned in ETH. The exchange is carried out at the internal rate of TMV / USD, which is set at 1 TMV = $1. 


During ETH price drops TBox collateral decreases, and the TBox owner needs to carry out the recapitalization and deposit ETH or TMV. 


Otherwise, the TBox is reevaluated into the “toxic” category and can be recapitalized by another user who received a commission in ETH from a deposit in TBox in the amount of 1% to 6% of the recapitalized amount. In case of an increase in the ETH exchange rate, and a proportional increase in the security of the system as a whole, the owner of the TBox can withdraw more TMV in dollars or make a profit. 


The higher the global collateral of the system, the lower the level of every TBox collateral. A stabilization mechanism is provided in the event of a sharp drop in the exchange rate of ETH. 


The TMV ecosystem includes a number of services that have been implemented for the global community: 


●       Leverage (Level of up to 1.9 for receiving funds in ETH secured in the same currency);

●       1by1 exchange of ETH to TMV at the internal rate of the system;

●       The possibility of issuing p2p-bonds (TBond) with an annual interest rate of 0% to 10%;

●       Gate – a service for maintaining the liquidity of the TMV token by exchanging it for ETH at the internal rate of the system. 


The Timvi ecosystem will be of interest to many participants of the crypto community, including professional traders, institutional investors, family offices, as well as average crypto enthusiasts. In the future, the developers plan to introduce an analogue of market options, create opportunities for working with affiliate networks, develop tools for decentralized exchanges, open up an API for third-party developers.

Bounty program 


In the first several weeks after launch, the Bounty program allows testers to earn rewards by finding bugs and errors in the system. The types of errors and the associated rewards are divided into several levels: 


A – Critical (logical, mathematical errors in the smart contract) – up to $15,000;

B – Serious (service errors) – up to $1000;

C – Minor (problems in the layout and the display of information) – up to 15 TMV. 


Website:
http://timvi.com/
Social networks:

Facebook:
www.facebook.com/Timviofficial/

Reddit:
https://www.reddit.com/r/TimviOfficial/

Medium:
https://medium.com/timviofficial

Twitter:
https://twitter.com/timviofficial/


Disclaimer. This article is paid and provided by a third-party source and should not be viewed as an endorsement by CoinIdol. Readers should do their own research before investing funds in any company. CoinIdol shall not be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any such content, goods or services mentioned in this article.



You might also like

Pin It on Pinterest

Share This

Share this post with your friends!

WhatsApp chat