TTC, a decentralized token-incentivized protocol for social network services and online communities, announced today it has made the decision to open-source the Tigris Protocol project.
Tigris Protocol is a set of decentralized finance (DeFi) solutions operating on a TTC blockchain that offers a range of services, such as staking, collateralized debt, and Tigris Rewards Programs. Anyone can earn the staking rewards up to 35% APR and get a loan with TTC coins and TST20 tokens as collateral.
Since the launch of the Tigris Open Beta Test (OBT) in late September 2019, the source code has been reviewed and improved, operating for months in stable condition.
Why Open Source
The TTC Foundation decided to open-source (GitHub) this project for two fundamental reasons:
- Transparency. Once opened, anyone can check and verify the functionality and security of Tigris services. It will strengthen the security of everyone’s assets and assist to expand the service to a wider audience.
- Openness. Contributions empower building a blockchain ecosystem. If transparency is to build trust among participants, openness will allow anyone to contribute their abilities. Developers, white hackers, and crypto enthusiasts now can participate, without any hurdles, to improve the quality of services and codes to their belief.
Tigris Protocol Source Code
There are three key advantages TTC highlights:
Tigris Protocol = Completely Decentralized Financial Solution
Tigris Protocol is a complete, decentralized financial solution that implements processes such as staking, collateral, lending, and liquidation in a smart contract. All assets are managed in a smart contract so that only users have the right to manage them, and because all procedures are fully operational on-chain logically, all information can be verified publicly, including how services are operated, the size of total staked assets, and the size of the reserve, except for proxy voting. Also, all of this data is accessible through the blockchain, allowing anyone to develop clients and services related to Tigris Protocol.
Tigris Protocol = Ensure data is valid and secure by using Decentralized Oracle
All incoming and outgoing data is securely managed by an oracle on a decentralized smart contract — all data referred by the Tigris Protocol is ensured for validity and safety. Decentralized oracle of Tigris Protocol includes the abilities to determine 1) filtering capability to verify contamination of data from external sources 2) filtering for rapid variations and 3) excluding singularities.
Tigris Protocol = Application + Scalability
In addition to TTC coins, Tigris Protocol has been developed to support the staking of various TST-20 tokens, while various types of stable coins can be issued simultaneously. In addition, users will be able to observe an efficient and simple way to perform — the operational logic of the reserve system, which is the management system of the Tigris Protocol for stability as well as the service result of stabilization logic. Also, users can see the automatic adjustment logic for the staking and interest rate of stable coin loans.
“Blockchain and smart contract technologies enable us to develop and operate innovative services at a much lower cost than existing infrastructures. We hope that releasing this open source will encourage people to be interested in developing blockchain solutions.”
– TTC Foundation