Last year in 2020, when the entire world was sceptic about the future and even the largest economies were bracing themselves up for recession, a particular tech sector was promising huge return and made even non-tech people interested in it. It was cryptocurrency boom as the pandemic proved how the banking system can be inefficient in situations like these, fuelling the predictions made by many pro-blockchain and pro-decentralisation people on the Internet.
While 2020 was a year of cryptocurrency, 2021 saw one more industry that uses blockchain technology to be emerging as a promising source of investment and it was the NFT Industry. NFT that stands for Non-Fungible Token is a unit of data stored on a digital ledger, called a blockchain, that certifies a digital asset to be unique and therefore not interchangeable. NFTs can be used to represent items such as photos, videos, audio, and other types of digital files and can be bought and sold using ether wallet on platforms such as Rarible, Opensea, or in the secondary marketplace. NFTs can also be swapped and this is where Tethereum (T99) comes into the picture.
Tethereum (T99) which describes itself as more than a token swap and also facilitates its users with the automated market maker is a platform for Token Swapping and Automated Market Making. To understand AMM or Automated Market Maker, we need to understand the term market-making in the context of cryptocurrencies and blockchain, Market-making consists in providing liquidity on a defined cryptocurrency by submitting both bid and ask limit orders on a crypto exchange. Tethereum’s (T99) short-term goal is to make itself the token swap platform with the lowest fee and provide the highest fee earnings to its liquidity providers.
“We all need to contribute to a system that is more transparent and efficient. With Tethereum (T99), we want to make our contribution to creating a future of decentralised finance. So, Tethereum (T99) at the end of the day, is a decentralised, peer-to-peer system running over TOR Network for easy Ether buy and sell.” Said one of Tethereum’s (T99) founders.
The product that you create is an extension of your identity as you manifest your ideology into the creation of that product and it must reflect in your product. The ones who advocate for decentralisation can not be close-ended and exclusive. Tethereum (T99) has its own discord server where you can see how they are building this open-source project and become a part of their journey.
Visit their site https://tethereum.exchange/ to know more about the problem they are solving through their project and the technologies involved.