TOM Finance

TOM Finance is an automated market-making (AMM) decentralized exchange created on the Ethereum blockchain network. The platform aims to convert TOM Finance into a novel decentralized forum with fairly distributed tokens to users. TOM Finance is known to be a TMTG’s (The Midas Touch Gold) decentralized finance (DeFi) project.

With the launch of TOM Finance, The Midas Touch Gold (TMTG) aims to launch a liquidity mining event. This is an event in which holders of cryptocurrencies lend their assets to a DEX (decentralized exchange) in return for rewards. The platform seeks to allow its users to build any kind of liquidity pool amid any two ERC20 tokens. Users can be liquidity providers by staking an equal portion of both tokens in the existing pools, increasing the liquidity of the pool, and acquiring LP fees for transactions taking place.

TOM Finance exchange enables users to exchange any ERC20 token with any other ERC20 token if there is a liquidity pool available on the exchange. If the liquidity providers stake their LP tokens on the farm at the time of mining, the TOM tokens are given in the form of compensation. Every staked TOM token in the protocol gets an xTOM token employed for voting and entitles the xTOM token holders to receive a percentage of trading fees obtained on the TOM protocol.

The native token of TOM Finance is TOM. The mining of TOM tokens takes place in two phases. The first phase experienced the mining of 25,000 TOM tokens in circulation in the first 60 days. After allocating the initial 50,000 TOM tokens, there were no new TOM tokens to be minted, which acts as an incentive to bootstrap liquidity on the forum of TOM Finance and offer rewards for the most primitive users. Also, the TOM token, when farmed, can be staked on the DEX of TOM to vote on governance proposals which eventually enable the users to obtain a share of trading fees accumulated on the DEX.

There was no team allocation or pre-sale of TOM tokens.

The total supply of TOM tokens is 50,000.