TRON (TRX) is quite young network, having launched their MainNet in June 2018. TRX mains focus is to ‘decentralize the web’ and produce a Dapp affectionate network. Tron is attracting developers and ICOs, which is a huge boost for TRX network. Tron wants other tokens to be available on their platform in the future and TronWatch is there to make a triumphant effort.
On 2th October, 2018, Tron launched the TronWatch and after eight days of their token sale TronWatch has reached their soft cap achievement. Nevertheless, TronWatch to looking for the best invention and for that purposes they are focusing on the next milestone of reaching the ‘Feature Unlock’. This will add Utility dApps, Staking-to-Feature and Automated Market Maker to the exchange.
TronWatchMarket (TWM) is a decentralized exchange (DEX), which is safe and secure for trading any Tron token. TWM will substantially swell the liquidity and bring significance to every Tron token. The decentralized exchange funds are supervised through a smart contract and they are not owned by a single body. With the help of this decentralized exchange the user funds.
At the time of writing, the token sale has reached up to $319267 USD or 14,190,301.236 TRX. The target to reach is $2,000,000 USD or 100,000,000 TRX in 24 days’ time from today (5th Oct 2018). After achieving this target, the next feature will be unlocked. If the target of ‘Feature Unlock’ is achieved before the end of the sale, TronWatch will add critical business APIs beside a more enhanced consumer experience to TronWatch Market. The new features to be added on the exchange are the following:
Numerous tokens provide utility value while users transact with their tokens. This is a huge ingress bar for the users. But TronWatch will provide Dapps to hold their API to match an order for the user. With the addition of this feature the smart contracts will be able to present a transaction which after the approval will carry out the trade and then call the Dapp’s smart contract to finish the wanted interaction within a single transaction.
This upgrade will make the decentralized token exchanging websites feasible by smart contract without having to quit the website, which in result will give longer retention period to the site. This new feature will allow the payment services utilize to support hundreds of tokens without fretting to depend on their value.
Automated Market Maker
The use of AMM contract does not portable for buying and selling tokens, which automatically tunes the price based on the current supply and demand. The TronWatchMarket will use this contract to exchange all trading fees gathered in TRX for the TronWatchMarket tokens at the time of trade placing. It is demonstrated in the diagram:
Furthermore, the user can buy or sell TWM tokens to AMM contract. It is important for TronWatch exchange as it will only ever buy TWM tokens. If no one sells back to the AMM contract then the price would not align with how TWM is priced in exchanges. Arbitrage trading is important part of this proposal in order to keep the price stable.
Stake TWM to Feature
A select few tokens will be featured on TronWatch site. The community will decide which tokens get the prominent position by voting with staked TWM tokens. The token with the most staked votes at any given time will receive 100% free trading for everyone, as well as the featured placement on-site. The value here is that some TWM tokens will be removed from circulation for a limited time. TronWatchMarket believes that this may be an attractive option for recent ICOs looking to get their name out there.