Introduction πŸ₯š
A protocol to create and trade a synthetic token for real-world adoption
The synthetic asset space is the most promising area of DeFi that is expecting to quickly adopt in real-world use cases where everything gets digitized and automated, unlike CeFi which is heavily depend on a bureaucracy to streamline processes.
As of 2021, the demand of crypto assets grow as skyrocket, the crackdown against synthetic assets may consider be the ineffective attempts to protect existing players in the derivatives market as the knowledge and competition are globalized, and a new consensus for social action has been re-designed to be more decentralization.
To accelerate the real-world adoption of DeFi, Tamago Finance eagerly develops a protocol to create synthetic tokens that are represent the value of stocks, commodities, precious metals or digital assets such as Ethereum and Bitcoin.
The value proposition focuses particularly on following points:
  • Network: Tamago Finance currently operates on the Polygon for forex while the long-run, each category would runs on different network to achieve multi-chain interoperability.
  • Hybrid reserve: All synthetic tokens are backed by a combination of two or more collateral tokens, the minter is freely adding/removing each type of asset according to the market condition at particular moment.
  • DEX agnostic: The synthetic token is ERC-20 compatible and allows minters to list it on any decentralized exchange platform.
Most of synthetic platform have two main parts, the synthetic generator and the marketplace, Tamago Finance doesn't provide the marketplace module and for the current deployment, we're rely on QuickSwap decentralized exchange.

$TAMG Token

You will need to use $TAMG token and one of stablecoin for minting synthetic tokens on Tamago Finance, the collateral value will be calculated by sum of collateralized values of assets.
Like many other platform, the minter will need to maintain the collateralization ratio over time, in case of insufficient collateral is added to the account will get liquidated automatically while the protocol encouraged the minter to wisely manage the collateral assets, this case is rarely occurs on the platform.
The first synthetic token "Synthetic HKD" that list on QuickSwap isn't fully or partly backed by $TAMG but rather $WMATIC.
The documentation is still work-in-progress. Stay tuned for more updates soon.
Last modified 2mo ago
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$TAMG Token