Timeswap is live on Ethereum Mainnet
Gm Time Travelers 🧑🚀
Timeswap is now live on Ethereum.
Yes, you heard that right! This marks an important milestone in the journey of Timeswap. In our two year journey of building, iterating the protocol whilst amassing a large army of Time Travelers the goal has always been to create a generalised money market AMM whilst providing the best lending/borrowing experience possible in DeFi. After organically manifesting it on Polygon, it’s time we launch on Ethereum. This brings permissionless money markets to Ethereum’s DeFi ecosystem.
What does Timeswap bring to ETH DeFi?
Today Ethereum is the home to DeFi protocols which are fully permissionless and decentralised(Eg: Uniswap). Key DeFi innovations like Uniswap V2 enabled any token to have an exchange market and instant liquidity. Similarly Timeswap AMM enables lending/borrowing and collateralization of any pair of erc-20 tokens. While many projects have enabled long-tail asset lending, almost all of them required an Oracle which led to multiple Oracle manipulation hacks. Owing to this today we don’t have a secure money market for lending / borrowing of long tail assets, however Timeswap changes this!
Deployment of Timeswap on Ethereum mainnet now enables every project, every token to have a money market irrespective of how liquid the token is. Collateralisation and yield generation for native tokens are essential utilities for all projects and communities. With Timeswap’s 3 variable AMM (X+Y)*Z=K, a market for lending/borrowing of any token pair is possible. Check this 3 page explainer Cheatsheet to understand how Timeswap works.
What’s the need for Timeswap vs other established money markets?
All money markets on Ethereum to date have only a handful of tokens listed. At the same time, they’re vulnerable to Oracle manipulation hacks and exploits. Even after years of battletests and security measures, lending markets still fall prey to Oracle manipulation and other edge cases. In 2022 itself, $400M was lost to Oracle manipulation hacks throughout DeFi.
This makes case for lending/borrowing protocols which stay independent of Oracles. Timeswap AMM essentially works on a no-liquidation lending/borrowing model where lenders get claim to Collateral of borrowers in case Borrowers default. This introduces a new form of risk to lenders(which they know before depositing their assets). Lenders on Timeswap get higher yields relative to other lending protocols due to the default risk from borrowers and loans having fixed maturity. Read this blog to learn how Timeswap pools offer higher yields compared to other money markets(According to our stats on Polygon).
While lending provides higher yields, Borrowing on Timeswap on the other hand provides the safest way to leverage tokens. This is because of no-liquidations. The no-liquidations experience is also what makes borrowers pay higher yields on Timeswap. Read more about why Timeswap is the safest avenue to leverage Tokens here.
We do believe Timeswap is bringing great value to the Ethereum ecosystem and we’re excited to see how the Protocol functions overtime.
Our first pool on Ethereum mainnet is none other than…. USDC-BLUR
Pool is maturing at 24th March 2022
What can users do with this pool??
- Lend USDC to earn fixed Yields
- Borrow USDC by using Blur as collateral.
BLUR holders can borrow USDC and convert it to ETH for farming more BLUR airdrop by trading NFTs. Not Financial Advice.
Timeswap going multichain!
Ethereum mainnet launch is just the beginning. We believe in the Multichain future and we’ll continue to expand to all major L1s and L2s in the coming months. Stay with us on our journey of building the future of DeFi.
With the Ethereum mainnet launch, Timeswap is now live on two networks. The Polygon market has a liquidity pool with exotic opportunities.
This is a 1 month maturity pool maturing on 27 March, which is also the launch date of Polygon’s zkEVM mainnet. In this pool, users can earn high yields on miMATIC(a decentralised stablecoin) and leverage stMATIC to speculate on the price of MATIC.
This pool shows the potential of the Timeswap protocol to create markets to serve exotic market demands.
Happy Time Traveling ⏳