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LuaSwap (LUA) Multi-Chain Liquidity Protocol Goes Live on TomoChain (TOMO)

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Wed, 01/27/2021 - 14:00
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Vladislav Sopov
New-gen automated market maker will advance trading experience for TOMO enthusiasts
LuaSwap (LUA) Multi-Chain Liquidity Protocol Goes Live on TomoChain (TOMO)
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LuaSwap (LUA) is a unique automated liquidity protocol for multiple blockchains. Its Ethereum-based version launched in September 2020 and is now live on high-performance blockchain TomoChain (TOMO).

Bringing cross-chain interoperability to AMMs

According to a press release shared with U.Today, LuaSwap (LUA) automated liquidity protocol will provide TomoChain users with the opportunity to execute trades with near-zero gas costs. Also, the speed of order fulfillment will be higher: the nature of TomoChain-LuaSwap interaction allows it to avoid the network congestion that clogs Ethereum (ETH).

Namely, the system adds a new block every two seconds, and its throughput is estimated at 2,000 transactions per second.

Besides the new trading experience, the integration of LuaSwap (LUA) protocol allows seamless peer-to-peer interaction between TomoChain (TOMO) and Ethereum (ETH). As a result, all Ethereum-based tokens (ERC-20 assets) are now tradeable on TomoChain (TOMO).

Alongside decentralized trading, liquidity provision and yield farming are available with LuaSwap on the TomoChain (TOMO) platform. Thus, LuaSwap (LUA) becomes a core element of the TomoChain-based DeFi ecosystem. It already includes TomoX protocol for DEX creation and TomoDEX exchange maintained by the TomoChain (TOMO) team.

Rewards program for liquidity vendors starts in February

TomoChain founder and CEO Long Vuong highlights interoperability as a main achievement of LuaSwap integration for TomoChain ecosystem progress:

Of course, Ethereum remains an important platform, which is why cross-chain interoperability is integral to our ecosystem. I am sure our community will enjoy the features offered by LuaSwap on TomoChain, not least the ability to swap tokens on either network at low cost.

To celebrate this integration, LuaSwap will launch a promotional campaign. Its native tokens will be distributed between traders and liquidity providers in a reward program.

Staking of LUA tokens is also avaliable with LuaSafe passive income environment. Thus, all participants in the reward program can give it a try immediately. The program is expected to drop in February 2021.

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About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)