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Three ecosystem-leading protocols join forces to bring the best of Decentralized Finance to the IOTA community
True win-win partnerships are rare, but when they happen they can transform entire industries. Just as Disney-Pixar revolutionized animated films and eBay-PayPal redefined e-commerce, today we are excited to present an IOTA community partnership that opens new frontiers in decentralized finance and provides resources that will enable unique and hard to replicate competitive advantages for us within the broader DeFi industry.
Soonaverse, Iotabee, and now TangleSwap will set the standard for collaborative DeFi innovation.
Through a combination of Soonaverse’s modular platform capabilities, already demonstrated through its previous integration with Iotabee, and TangleSwap’s state-of-the-art suite of DeFi solutions, we’re equipping the IOTA community with everything they need to make the best of their digital assets. This seamless integration opens the door to a wave of new users to discover — or rediscover — the advantages of decentralization and self custody.
Our partnerships emerged organically, as a result of our protocols demonstrating a shared community-centric vision and user-focused commitment to advancing the industry over the last two years, by building relentlessly in the IOTA ecosystem. Our teams have worked behind the scenes, always looking for opportunities to collaborate and today, we are proud to announce the results of those efforts.
Inside the Alliance: What to Expect from the TangleSwap Partnership.
TangleSwap will NOT issue their $VOID token on the Shimmer EVM, but rather will do so on the IOTA EVM instead in collaboration with the Soonaverse. ????
TangleSwap will be launching 5 Service Modules on the Soonaverse. A complete set of high performance DeFi services which include:
First, TangleSwap will bring its non-custodial Token Launchpad to the Soonaverse and Shimmer EVM. This exciting application offers a full suite of features to provide unparalleled flexibility to project owners, token issuers, users, and investors. Below is a breakdown of the core characteristics of TangleSwap’s Token Launchpad, which will be integrated natively as a module inside the Soonaverse.
Once the launchpad is live, TangleSwap’s integration will continue with an additional 4 native Soonaverse modules:
- Concentrated Liquidity DEX, which is explained in detail in this introduction blogpost as well as the documentation for Swaps and Liquidity Pools
- Concentrated ‘Smart’ Farms, which is detailed in the relevant documentation article
- NFT Staking
- Vote-Escrowed Token Staking
The Soonaverse will provide a fixed amount of $SOON tokens at the start — and end — of each integration, aimed at bootstrapping the growth phase of the protocol and product suite on the initial growth phase. In total, this will comprise:
TangleSwap will distribute the $SOON tokens as liquidity incentives to the IOTA community over a period of 2/3 years. In exchange, TangleSwap will provide:
Additionally, both teams will further study the possibility of adding TangleSwap’s NFT Staking and VE Staking services as Soonaverse modules in the future.
A new era in DeFi innovation arises
The core value of this partnership is to substantially improve the services provided to our joint communities, and maximize our collective value to the IOTA community. To scale beyond the current boundaries of our ecosystem we need unique competitive advantages beyond forked code and the base features of our L1. We need innovative collaborations that challenge the very principles of the industry that drive product creation. In many ways we are rebuilding, resetting, and expanding the strength of our very foundations through this collaboration. We are now built to easily handle the weight of the new towering structures that can and will be built in DeFi as we explore the many exciting opportunities to come.
As three of the premiere builders in the IOTA community, the combination of our team’s capabilities was a natural fit. One we always knew would bring immense value and joy to our shared communities. This initial step of mutual commitment and delivery sets the stage for a partnership between our teams and protocols to move mountains in both the retail and enterprise space. We’re not just sharing ideas and innovations; we’re also pooling resources to make those ideas a reality and turn them into the largest success possible.
L. F. G.
The full article was originally published by Soonlabs on Medium, where people are continuing the conversation by highlighting and responding to this story.