In the ever-evolving realm of decentralized finance (DeFi), Timeswap emerges as a trailblazer with the introduction of its fully decentralized Automated Market Maker (AMM) based money market protocol. Backed by a unique 3-variable AMM, Timeswap aims to eliminate inefficiencies seen in existing protocols, offering a secure, permissionless, and oracle-less platform from day one.
Addressing DeFi Inefficiencies
DeFi witnessed unprecedented growth in 2020, led by platforms like Uniswap, Aave, and Compound. While these platforms accumulated substantial liquidity, inefficiencies persisted. Timeswap tackles these issues head-on by creating a decentralized money market that is self-sufficient, non-custodial, and operates without oracles or liquidators.
The Unique 3-Variable AMM
Central to Timeswap’s offering is its proprietary 3-variable AMM, a departure from traditional models. With variables representing the principal pool, interest rate pool, and collateral factor pool, this approach provides users with flexibility, allowing them to tailor interest rates and collateral ratios for each lending or borrowing transaction.
Key Features of Timeswap
- Market-Driven Interest & Collateral: Interaction with Timeswap’s pool dynamically adjusts interest rates and collateral requirements, enhancing capital efficiency and risk management.
- Oracle-Less Operation: Unlike traditional platforms relying on oracles, Timeswap determines lending and borrowing based on token supply and demand within pools, mitigating vulnerabilities.
- Permission-Less Accessibility: Timeswap embraces complete permissionlessness, enabling users to create pools for lending and borrowing with any ERC-20 tokens, fostering liquidity for a wide range of assets.
Seed Round Led by Prominent Investors
Timeswap’s vision and innovation attract significant support as it announces a successful seed round led by Multicoin Capital, with participation from Mechanism Capital and DeFiance Capital. This funding injection propels Timeswap toward further advancements and enhancements.
Timeswap V2: Building on Success
While Timeswap V1 achieved remarkable success, the team identified areas for improvement. Enter Timeswap V2, an upgraded version that addresses user feedback and introduces features like exit options for lenders before maturity, utilization of repaid assets, bi-directionality, and overcollateralized pools, significantly amplifying capital efficiency.
What’s Next for Timeswap
Timeswap V2 is currently undergoing internal testing, with a Testnet release imminent for Time Guardians and TTWs, followed by a public testnet. Mainnet launch details will be revealed after completing public testing and comprehensive audits in the upcoming weeks.
Despite industry fluctuations, Timeswap remains steadfast in its commitment to building a decentralized and permissionless financial infrastructure. The team expresses gratitude to Time Travelers, including Time Guardians and TTWs, for their active contributions, emphasizing a collective “BULL or BEAR, we BUIDL” mentality.