TomiEX Announces Launch of Decentralized Exchange Operating on Delegated Proof-of-Stake Algorithm

LONDON, Nov. 16, 2020 /PRNewswire/ -- The TomiEX exchange has announced that it is launching a decentralized environment for its platform on the basis of the delegated Proof-of-Stake algorithm.

The new platform launched by the TomiEX development team will feature a number of advanced solutions for traders and the use of postmining for the native TEX coin. The new technological framework allows the platform to offer its users all the functions necessary for facilitating algorithmic trading. TomiEX states that the powerhouse of the platform is a reconciliation engine with technical characteristics capable of ensuring 1,400,000 requests per second. Such speeds place TomiEX on par with the leading trading platforms on the crypto market.

BTC, ETH, LTC, Ripple, and TEX trading pairs will be offered to TomiEX users at launch with more coins to be added in the near future. The basis for the addition of new coins to the list of tradable assets on the exchange will include credibility, liquidity and availability of users. The new platform will include highly versatile cross-platform trading clients for ensuring a high level of convenience and round-the-clock trading for clients who value time and speed.

The TEX coin will be acting as the main operating unit of the TomiEX exchange. The coin has a set limit of 575 million that will be directly linked to the number of users of the exchange. The Cosmos-SDK framework and Proof-of-Stake (PoS) algorithm have been chosen as the basis for TEX. Current POS mining of TEX will be stopped by TomiEX upon achieving a user base of 200,000. Still, the development team is leaving the technical possibility of resuming POS mining if the user base continues to expand.

The TomiEX team intends to sell 10 of the 15 million initial issuance coins at the presale that will offer participants a 7-level bounty program and additional benefits of 30% payments to network members. The starting price for each TEX will be set at $0.1 while the remaining 5 million coins will be frozen in the genesis wallet before being unfrozen at full market launch of the TomiEX exchange.

"The launch of our advanced platform is a milestone for the project, as is the introduction of the TEX coin, which is not only a useful asset, but also a powerful marketing instrument. We are certain that TomiEX will continue gaining popularity among market participants," says Michael Domar, CEO of TomiEX.

TomiEX will be offering users processing speeds as high as 4,000 tps and modern security provided by multi-level access, 2FA authentication and other features. Transparency will be ensured by regular security audits and a comprehensive voting system, while operational reliability in case of failure of as much as 30% of all validators will be guaranteed by the Cosmos framework.

The launch date of the upcoming first round of the TomiEX presale will be announced in the near future on the project's official website and channels in Telegram.

SOURCE TomiEX