About Tectonic Defi Coin
Tectonic Defi Coin is a decentralised non-custodial algorithmic-based money market protocol that allows users to participate as liquidity suppliers or borrowers. Suppliers provide liquidity to the market to earn a passive income, while borrowers are able to borrow liquidity in an over-collateralized fashion.
Tectonic Defi protocol design and architecture references Compound, a proven and audited protocol. It is complemented with an attractive incentive program powered by $TONIC, the native token of Tectonic protocol.In summary, Tectonic protocol aims to provide secure & seamless cryptocurrencies money market functionalities, enabling multiple use cases for its users.
Tectonic Defi Coin Facts
| Tectonic | Facts |
|---|---|
| Defi Coin Name | Tectonic Defi Coin |
| Max Supply | 500,000,000,000,000 |
| Explore | Click Here To View Explore |
| Source | Click Here To View Source |
| Chat Option | Click Here To Visit Chat |
| Document | Click Here To View Document |
| Official Website | Click Here To View Website |
Generate passive yield on your assets
Crypto assets deposited into Tectonic earn attractive APYs based on a dynamic rate according to market demands. Earnings are available immediately with no lockup.
Instant liquidity at your fingertips
Get an instant loan to unlock liquidity from idle crypto assets into Tectonic.
Keeping your funds safe is our top priority
Audited smart contracts
Tectonic Defi Coin smart contracts have been audited by leading blockchain security auditors Slowmist.
Insurance fund (Coming soon)
10% of the interest paid by borrowers goes to an insurance fund used in the event that undercollateralized loans are not properly liquidated.
Open source
Interoperability and open source are among the founding principles of DeFi, which Tectonic is proudly committed to.
How does Tectonic work?
Funds deposited by users are provided as liquidity to borrowers, who may borrow at variable interest rates. Tectonic’s smart contracts adjust these rates based on each market’s utilization rates.
TONIC is Tectonic Defi Coin protocol token with two key use cases: governance and staking into the Community Insurance Pool to secure the protocol and earn more rewards.
TONIC Token
The Tectonic protocol is governed by the Tectonic token, $TONIC. $TONIC has a total supply of 500,000,000,000,000 $TONIC (500 Trillion), it can be earned by participating in the Tectonic protocol activities.
Token Economics
$TONIC token allocation will be distributed as follows:
Team: 23% (4 years vesting, daily release)
Airdrop: 0.1% (no vesting schedule)
Ecosystem Reserve : 13% for sponsoring partner development projects, community initiatives and advisors, etc. (No vesting schedule, will only be utilized / released as & when there’s any ecosystem related initiatives)
Network Security & Maintenance : 13% for security audit, protocol operations, infrastructure upgrade, liquidity reserve, etc. (No vesting schedule, unlocked at launch)
Community Incentives : 50.9% to Tectonic community members as participation incentives and liquidity mining / staking rewards, including $TONIC rewards paid out on third party protocols (e.g. Farms & Mines on DEXes)
tTokens
In return for their supplied assets, liquidity providers will receive corresponding tToken (e.g., tETH, tUSDC), which entitles them to redeem the supplied assets in the future. The tToken-to-asset exchange rate will continuously increase to reflect interests earned by the lender.
Each asset supported by the Compound Protocol is integrated through a tToken contract, which is an ERC-20 compliant representation of balances supplied to the protocol. By minting tTokens, users (1) earn interest through the cToken’s exchange rate, which increases in value relative to the underlying asset, and (2) gain the ability to use tTokens on other protocols that accept tTokens.
Supported tTokens
The Tectonic protocol plans to support the following tokens at public launch.
- USD Coin (USDC)
- Tether (USDT)
- Dai (DAI)
- Ethereum (ETH)
- Wrapped BTC (WBTC)
- Crypto.org Coin (CRO)
- Tectonic (TONIC)
- VVS Finance (VVS) (Coming soon)
Governance
Tectonic protocol will begin with centralized control of the key decisions in the protocol (e.g., interest rates, collateralization ratio, token allocation, etc.) Such decisions will be made by the Tectonic team, in consultation with the community. Over time, Tectonic aims to transition the governance process fully to community and stakeholders. At such time in the future, anybody holding a to-be-determined minimum threshold of TONIC token will be required to firstly bring forth, then vote on, proposals (Tectonic Improvement Proposals/TIP) that would affect key parameters such as economics, security and development of the protocol. Examples of parameters that could be voted on:
- Interest Rate Model
- Reserve Factor
- The addition of assets that meet the risk requirements of the protocol
- Risk parameters for overcollateralization and liquidation
- Changes to the Liquidity Mining Program to adjust incentives depending on market conditions
- Protocol Treasury Control