DUBAI, Dec. 4, 2019 /PRNewswire/ -- Secure algorithmic stablecoin Timvi (TMV) officially stated its full operational mode launch today, following a 3-month open Ropsten network and bug-bounty test period followed by several audit rounds performed by the independent third-party contractors.
Timvi ecosystem stands on four whales:
- Stability - 1 TMV always targets the $1 price. The objective price of the token is supported by the algorithms and is not subject to sizable fluctuations
- Algorithms - Math algorithms guarantee the stability of the ecosystem and Recap mechanism allows to earn from 1 to 6% of each transaction amount
- Personalization - TMV is emitted on user's terms. User can withdraw the deposit anytime
- Services - Timvi services ecosystem allows users to earn interest in both TMV and ETH during bull and bear market.
The TMV ecosystem includes a number of services:
- TBox - basic TMV ecosystem entity, an account where users deposit (and withdraw) ETH as a collateral, and emit TMV tokens in return according to the system rules;
- Leverage - up to 1.9 for receiving funds in ETH secured in the same currency;
- 1by1 – exchange of ETH to TMV at the internal rate of the system;
- TBond: The possibility of issuing p2p-bonds (TBond) with an annual interest rate of 0% to 25%;
- Gate – a service for maintaining the liquidity of the TMV token by exchanging it for ETH at the internal rate of the system;
- TOption – a contract enabling users to sell their assets at a predetermined price, which may differ from the initial market price.
Timvi project services are now fully available for public users, including TBox, TBond, 1 by 1, Gate and Leverage. Using the Timvi featured services, traders, cryptocurrency enthusiasts as well as institutional investors, funds and family offices will now be able to earn interest rates during both bull and bear markets.
Timvi is the edge-of-the-new-generation stablecoin: the developers took into account the problems of existing stablecoins, such as centralization and trust issues, and came up with a security token with a target price set at $1. Each token is super-secured by the ETH-deposits of the ecosystem's participants. Any participant can check the security of any token, while the stability and emission of the tokens is provided by the TMV algorithm. While recapitalization ensures stability of the token, Timvi also provides the tools for the global crypto community - such as TBox, TBond and Leverage - to earn interest during both bull and bear market.
The conversion of ETH to TMV happens in the TBox – a special blockchain account within the Timvi ecosystem. The owner of a TBox can withdraw funds in ETH at any time, as well as close the TBox or transfer it to any other user. In order to close the TBox, the user needs to return previously withdrawn TMV. These TMV will then be burned, and the ETH in the TBox will be unlocked. The exchange is carried out at the internal TMV/USD rate, which is set at 1 TMV = $1.
During the ETH price drops the collateral of TBox decreases. In this case, the TBox owner needs to carry out the recapitalization and deposit ETH or TMV. Otherwise, the TBox falls into the "toxic" category and can be recapitalized by another user. The person initiating the recapitalization receives a commission in ETH from a deposit in the TBox in the amount of 1% to 6% of the recapitalized amount. If the ETH exchange rate increases, and there is also a proportional increase of the system collateral, the owner of the TBox can withdraw more TMV in dollars or lock in profits.
Timvi ecosystem is a deal-breaker set of financial tools baked by an algorithmic stablecoin, tailored for both daily traders, crypto-enthusiasts, and professional market participants, including institutional investors, funds and family offices. Timvi combines fundamental math, algorithms, DeFi and cutting-edge financial services to provide global crypto community with a set of tools allowing them to profit during both bull and bear market using an algorithmically stable collateralized asset (that is, Timvi stablecoin).