Timeswap is now live on Injective inEVM!
The Time Machine injects itself into Injective inEVM, like a ninja breaking into a castle. After launching on Optimism and exploring the world of L2s, it is time to explore a new universe! The inEVM is Injective’s EVM layer, making it easy for current projects to port over. Injective scales finance and Timeswap scales money!
Why is Injective so incredible?
Injective has experienced an incredible journey, marked by significant milestones that underscore its adoption and the potential to serve as the foundation for a robust DeFi ecosystem. At over $130 million+, Injective has shown what a dedicated team with a vision can do in a short amount of time!
Multiple innovative protocols have also shown the power of finance jutsu! With inEVM, Injective is also quickly becoming an important catalyst for bringing the vision of permissionless financing to the forefront by building a sustainable ecosystem to make sure things chug along just right.
On top of that, Injective’s focus on being the fastest blockchain for finance enables us to serve a new cohort of users with never before seen efficiency!
What is Timeswap though?
Here’s a brief rundown of the basics! If you want to know more about Timeswap, we recommend reading this blog!
Key Parameters:
- Asset Pair: X-Y assets that act as debt and collateral assets.
- Transition Price: The price level which changes the bias of the pool.
- APR (Annualised Percentage Rate): The annualised interest rate at which borrows/lends occur.
- Maturity Date: The date at which the pool expires.
Explanation:
Asset Pair: This is like a duo in a pool. You have two types of assets, let’s call them X and Y. X is like the main one, and Y is the sidekick. For example, if X is USDC (a stablecoin), then Y could be ETH (a cryptocurrency).
Transition Price: Think of this as a magic number that decides how people in the pool behave. It determines whether borrowers will pay back what they owe or not. Also, it affects how lenders get repaid. This magic number also tells us how much extra stuff (collateral) borrowers have to give just in case they can’t repay.
APR (Annualised Percentage Rate): This is like a reward for being part of the pool. If a lot of people are lending money, the reward gets smaller. If more people want to borrow, the reward gets bigger. But once you join the pool, your reward stays the same, even if things change later.
Maturity Date: This is like a deadline. Borrowers have to pay back what they owe by this date, or else they lose what they put in as extra stuff (collateral). Lenders get their rewards fully when this deadline arrives.
So, putting it all together: Imagine a swimming pool with two main characters (assets), a special number (transition price), a reward system (APR), and a deadline (maturity date). Depending on how the main characters behave and how the special number is set, borrowers either pay back or don’t. Lenders get their rewards accordingly, and everything wraps up by the deadline. If borrowers fail to pay back, lenders get the extra stuff they left behind.
What does Timeswap bring to the Injective ecosystem?
The burgeoning growth of the Injective ecosystem and trading volumes, suggests rapid development. Consequently, we anticipate encountering challenges, fluctuations, and stress tests, especially within DeFi protocols.
Within any DeFi ecosystem, lending and borrowing stand as foundational elements. Establishing a resilient money market capable of securely supporting numerous ecosystem tokens is paramount. Traditional lending and borrowing platforms face limitations in low-liquidity environments due to their reliance on liquidations and susceptibility to various attack vectors. Security gains heightened importance in nascent ecosystems with thin liquidity and evolving infrastructure. In this context, Timeswap emerges as the preferred lending and borrowing platform, offering a protocol independent of liquidation, alongside the capability to accommodate any ERC-20 or ERC-4626 token.
Timeswap is the world’s first oracleless, AMM-based lending and borrowing protocol, applicable to any ERC-20 and ERC-4626 token. Lenders using Timeswap earn a fixed yield on their tokens for a predetermined period, while borrowers gain access to non-liquidatable loans by paying a fixed interest amount.
With our entry into inEVM, users can now leverage safer by taking advantage of Timeswap’s unique architecture to make money markets for assets that cannot be listed on other markets with fixed terms and no liquidations!
The Genesis Pools
Pool 1
Collateral asset: INJ
Borrow/Supplied asset: USDT
Maturity: 2nd July, 2024 12:00 UTC (i.e., ~9 weeks)
Link: USDT pool
Pool 2
Collateral asset: USDT
Borrow/Supplied asset: INJ
Maturity: 2nd July, 2024 12:00 UTC (i.e., ~9 weeks)
Link: INJ pool
If you want to learn more about how your project can utilise Timeswap or create a lending/borrowing market for your assets (including receipt and LP tokens), please fill out this form.
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