Since the launch of Tigris Open Beta Test (“OBT”) in late September 2019, its source code has been reviewed and improved for stable operation. After operating service stably for some months, today, we are making its source code as an open source project to take a step closer to the blockchain ecosystem that we are dreaming of — “Blockchain for Billions.”
Tigris Protocol is a set of Decentralized Finance Solutions operating on a TTC blockchain that offers a range of services, such as staking, collateralized debt, and Tigris Rewards Programs. Anyone can earn the staking rewards upto 35% APR and get a loan with TTC coins and TST20 tokens as collateral.
As of January 28, 2020, Tigris Protocol is stocked with 11,831,790.95 TTC and 482,277,324.65 CLAY, which is approximately $1.8 million. In addition, staked cryptocurrency is being issued and used as collateral for approximately $500,000 worth of stable coins. All of these assets are maintained and protected by the reserve — approximately $6 million worth of CLAY and TTC.
Check out more details on Tigris Protocol Dashboard.
We decided to open-source this project with following two fundamental reasons;
First, the transparency enables us to provide better and secure services to everyone. Once opened, anyone can check and verify the functionality and security of Tigris services. It will strengthen the security of everyone’s assets and assist us to expand the service to wider audience with doubts. People no longer need to trust us. Trust our code.
Second, open contributions empower all of us to build a blockchain ecosystem for billions together. If the transparency is to build the trust among participants, the openness will allow anyone to contribute within their abilities. Developers, white hackers, and crypto enthusiasts now can participate, without any hurdles, to improve the quality of services and codes to their belief. We believe that the diversity is a crucial key for us to find the right answer to many complex questions we face everyday. Opening the door to the world will help us to see the world differently — for the better of everyone.
We believe the concept of open source is perfectly aligned with our own vision — “Blockchain of Billions”. We welcome everyone to join in this open source project and be a part of history.
Check out our github page for Tigris Protocol Open Source.
There are three key advantages we want to emphasize.
1. Tigris Protocol = Completely Decentralized Financial Solution
Tigris Protocol is a complete, decentralized financial solution that implements processes such as staking, collateral, lending, and liquidation in a smart contract. All assets are managed in a smart contract so that only you have the right to manage them, and because all procedures are fully operational On-Chain logically, all information can be verified publicly, including how services are operated, the size of total staked assets, and the size of the reserve, except for proxy voting. Also, all of this data is accessible to anyone through the blockchain, allowing anyone to develop clients and services related to Tigris Protocol.
2. Tigris Protocol = Ensure data is valid and secure by using Decentralized Oracle
All incoming and outgoing data is securely managed by Oracle on a decentralized smart contract — all data referred by the Tigris Protocol will be ensured the validity and safety. Decentralized Oracle of Tigris Protocol includes the abilities to determine 1) filtering capability to verify contamination of data from external sources, 2) filtering for rapid variations, and 3) excluding singularities
3. Tigris Protocol = Application + Scalability
In addition to TTC coins, Tigris Protocol has been developed to support the staking of various TST-20 tokens, while various types of stable coins can be issued simultaneously, and all parameters that affecting mortgage services are designed to be adjusted based on algorithms automatically. Also, the mortgage users can get a loan with a designed mechanism that causes the mortgage to be staked and rewarded.
In addition, you will be able to observe an efficient and simple way to perform — the operational logic of the reserve system, which is the management system of Tigris Protocol for stability as well as the service result of stabilization logic. Also, you can see the automatic adjustment logic for the stacking and interest rate of stable coin loans.
Open Source Copyright of Tigris Protocol
Tigris Protocol introduces a copyright management mechanism based on GPL 3.0. For more information about the copyright, please click on the copyright site.
Blockchain and smart contract technologies enable us to develop and operate innovative services at a much lower cost than existing infrastructures. We hope that releasing this open source will encourage people to be interested in developing blockchain solutions. Also, blockchain communities could be able to have more opportunities to work together to create and develop more improved solutions.
— TTC Foundation
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