Timeswap Year in Review: A Triumph in 2023

A wrap up of everything that went down in 2023 and some alpha for 2024

4 min readJan 5, 2024

As we usher in another year, it’s time to reflect on the journey we’ve undertaken in the past twelve months. 2023 has been nothing short of remarkable for Timeswap, filled with launches, TVL and Volume milestones, and strategic collaborations that have propelled us to new heights.

Marching into a New Era: Timeswap V2 Launch

The year began with a significant milestone — the launch of Timeswap V2 in February. This upgrade marked a leap forward, enhancing user experience, capital efficiency, and laying the groundwork for the achievements that followed.

Timeswap V2 is the result of the work we did during 2022, one of the gruesome bear markets ever. Continuous iteration of the AMM, taking feedback from the users and the community. The launch of Timeswap V2 marked an important step towards the mass adoption of Non-liquidatable loans in DeFi.

Thriving in the Depths of the Bear Market

While the crypto market faced its challenges, Timeswap not only weathered the storm but thrived in the depths of the bear market. Our community stood resilient, reinforcing the strength of our ecosystem.

Wins of the Year

Expanding to 7 Chains

One of our most ambitious moves was the expansion of Timeswap V2 to seven chains, including all major Layer 2 solutions. From the very beginning, our goal has been to cater to the market for long-tail assets and to create safer money markets. Given this, and Timeswap’s ability to stay independent of any external attack vector, it is the perfect money market to be launched on L2s and alt L1s.

Newer Layer2 chains lack deep liquidity, leaving protocols prone to external attack vectors. Timeswap being independent of external liquidity and price oracles, became the perfect spot for the creation of isolated lending markets on chains like Arbitrum, Optimism, Base, Polygon PoS & zkEVM, Mantle, etc.

We’re not stopping here, in 2024 Timeswap will further expand to Monad, Berachain, X1, Solana, SUI, SEI, INJ, and many more chains! Timeswap will become the foundational DeFi infra for credit/leverage, complimenting Uniswap across all chains. We were very intentional when we brainstormed our tagline — “Like Uniswap, but for lending and borrowing”

Solidifying our presence in Different ecosystems

Timeswap has achieved the following milestones in different ecosystems:

  • Arbitrum -> Becoming the 7th largest and one of the fastest growing money markets.
  • Mantle -> Second largest Money market by TVL.

Surpassing $50M in Total Lend/Borrow Volume:

The Timeswap ecosystem experienced exponential growth, surpassing a remarkable $50 million in total lend/borrow volume. The reason we call it an “ecosystem” is because Timeswap serves multiple communities with its isolated lending markets.

The $50M mark is a remarkable feat showcasing the demand for non-liquidatable loans in DeFi.

Largest Market for Non-liquidatable Loans:

Timeswap emerged as the leader in non-liquidatable loans, exceeding $10 million in Total Value Locked (TVL). This showcased our commitment to providing secure and efficient lending solutions.

source: defillama

Strategic Partnerships with over 2 Dozen Projects:

Collaborations played a pivotal role in our success. We partnered with more than two dozen projects, including major names like Lido, GMX, Pendle, TraderJoe, Aura, Stargate, Level, Gains, Umami, Stafi, Unsheth, Mantle, Optimism, Arbitrum, Polygon, Base, Ondo, WooFi, Plutus DAO, Quickswap and many more — extending our reach and onboarding diverse communities to the Timeswap platform.

These communities are utilising their long tail assets as collateral on Timeswap, making it a place to exchange value over time.

Qualification for Arbitrum’s Short Term Incentives Proposal Grant:

Recognition came our way as Timeswap qualified for Arbitrum’s Short Term Incentives Proposal (STIP). The STIP has been one of the most competitive grants program of 2023, where over a hundred teams were competing for 50M ARB in grants!

Timeswap’s proposal, was one of the top 10 most voted for, bringing in 182M ARB votes in favour. This led us to secure 200k ARB token incentives for lenders and borrowers of Timeswap.

Premine of the $TIME Token

The introduction of the $TIME token premine added a layer of excitement for Time Travelers. This unique offering not only provided additional yields but also enhanced the overall engagement within the community.

Looking Forward: A Glimpse into 2024

As we step into 2025, the journey continues. Timeswap remains committed to pushing boundaries, fostering innovation, and building a community that thrives in a dynamic and ever-evolving landscape. Thank you to all the Time Travelers who made 2024 an exceptional chapter in the Timeswap saga. Here’s to another year of growth, collaboration, and success. Watch out for our mega campaign and token launch in H1 2024!

$TIME is money, and with Timeswap, the possibilities are limitless.