SIGAPORE / ACCESSWIRE / February 5, 2020 / TTC Foundation announced it released the source code of Tigris Protocol to the public as an open source.
By releasing this open source, TTC Foundation expects to increase the interest on blockchain among the developer community. The source code, now accessible by the public, will empower the community to develop and launch high quality DeFi services – equivalent of the internet banking services on blockchain – with little to no efforts, It will provide more options to cryptocurrency holders to benefit from daily financial services such as staking rewards and collateralized debt.
In addition, the developer community could be able to work together on this open source project to improve the existing solutions. Such openness is usually considered as the key advantages of the Open Source philosophy; enabling 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.
What is Tigris Protocol?
Tigris Protocol is a set of Decentralized Finance Solutions operating on a TTC blockchain that offers a range of crypto-based financial services, such as staking and collateralized debt. Completely decentralized, Tigris Protocol has three distinct characteristics.
Open & Transparent
As its every financial transaction and process is run through an array of smart contracts on blockchain, all the data is accessible by public: 100% open and 100% transparent. The users also have full control and custody over their assets even while using these financial services.
Verified by Oracle
As a DeFi protocol, Tigris Protocol handles various sensitive information which could impact the users’ financial assets. Hence, TTC Foundation implemented a fully decentralized oracle, fully protected from any human errors or malintention. The oracle works as a gateway to ensure and verify the incoming information from outer world, adding another layer of security.
Run by Math
Tigris Protocol is operated by two mathematical algorithms, which balance themselves according to the ever changing environments and factors. Stabilization algorithm ensures that the entire system runs in a stable manner. Another algorithm will tweak the interest rate for the collateralized debt to automatically adjust the sustainability of the entire system.
As of January 28 2020, a total worth approximately $1.8 million is staked in the smart contract of Tigris Protocol. In addition, these staked assets are used as collateral to generate nearly $500,000 worth of stable coins.
Brian, the founder and CEO of TTC Foundation, said “We are glad to take our part in decentralizing the blockchain technology. We hope to see more brilliant minds to build amazing solutions.”
TTC Foundation website: https://www.ttc.eco/#/
Tigris Protocol website: https://tigris.finance/
SOURCE: TTC Foundation
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