Market Status
It’s been a big month for the cryptocurrency space. The overall narrative seems to have shifted from Bitcoin being a speculative asset, to a respectable store of value as the use case for digital assets has collided with Macro events. With governments all around the world using quantitative easing to try to keep their economies moving, investors are starting to accept Bitcoin as a hedge against currency debasement and inflation. This month Square became the second listed company to buy Bitcoin for its treasury following Microstrategy’s investment in September. Overall Bitcoin ended the month up 30% in October and the trend so far for November looks set to outpace this. By contrast DeFi didn’t have such a great month ending the month down 33%, although already in November this seems to have turned around.
The Bitcoin Hashrate reached an all time high in mid-october spiking to a record 174 EH/S shortly before falling more than almost 40% towards the end of the month from the peak to the lowest point. Analysts attributed this to the end of the rainy season in China as miners migrated to different parts of the country. To the delight of miners, the drop in hashrate caused a subsequent difficulty adjustment making it much easier to mine bitcoins. With the price of Bitcoin climbing throughout the month it’s been a good month for miners.
Following a record month in September, Ethereum fees were down 65% month on month in October. Despite this Ethereum miners still earned substantially more than Bitcoin Miners.
According to Defipulse the total value (USD locked in dexes remained fairly steady throughout the month of October fluctuating between 4.07 and 4.2 Billion. Early in November this spiked to 4.5Billion but then dropped to under 4. Most likely due to the sharp rise in Bitcoin price as investors pulled out funds to reinvest into bitcoin.
Despite the recent dips the DeFi space remains incredibly buoyant and in our opinion will continue to grow as the space matures and platforms such as TitanSwap add new features to compete with centralized exchanges.
TITAN
The price of Titan performed well this month, starting off at 0.23 USD and peaking just before the end of the month at 0.6 2USD. No doubt this has been spurred on some of our progress this month including the release of version 3.1 which has been well received by the community.
TitanSwap Delivery
Our goal here at TitanSwap is to build a better, more user friendly platform with all the features offered by centralized exchanges while solving many of the problems faced by traders on traditional DEXes. Every month through our innovations we improve the trading experience for our users. With the launch of Version 3.0 this month we’re much closer to our goals.
Let’s take a look at some of our progress this month and the features we’ve added.
Liquidity Pool Launches
This month we’ve launched our own self built, liquidity pool. Now anyone can add liquidity to any pairs. To start with the liquidity pool will use the same AMM algorithm as Uniswap. Don’t worry we’re already working hard to improve this. We’re currently looking at ways to mitigate impermanent loss and eventually make it insignificant. Watch this space for further progress over the coming months.
Add/Remove Liquidity from Uniswap Pool to TitanSwap
It’s now straightforward for users to add or remove liquidity to the TitanSwap or Uniswap pools. With the same swap functionality as Uniswap but the added features of limit order capabilities, price curve and the new rich data features we are building out. to help traders make educated decisions we hope traders will see the benefits of using TitanSwap.
0.4% TITAN Bonus for Liquidity Providers on ETH or USDT Pairs
We’ve added a 0.4% bonus for liquidity providers on ETH or USDT related trading pairs and have kept transaction fees unchanged at 0.3%. This mining approach is unique in the market. We’re committed to building long term value for our users and liquidity providers. Platforms such as Sushi Swap, benefit short term liquidity providers at the expense of long term holders. Here at TitanSwap we reward liquidity providers in line with network growth. Our values are aligned with our long term contributors and partners. When the TitanSwap pool reaches a size comparable to Uniswap we believe liquidity providers will earn more with TitanSwap.
Rebuilt the Product Data Collection Function
This is an important improvement, but may go unnoticed by users at least in the short term. By speeding up data collection and increasing the frequency of data refreshing, we’ll be able to support much more in-depth data and statistics. These improvements will enable us to build out improved visual information and analytics to enable traders to make more informed decisions. These are features that are lacking in many DeFi applications but will be crucial for our long term growth. TitanSwap will continue to add features that traders have grown accustomed to on traditional exchanges.
Sponsored Tokens
We’ve now added the capability for tokens to sponsor their listings and display at the top of the token list. Sponsored tokens will have SP displayed next to their name.
Added Support For Chinese
Our Chinese communities asked for this and we’re pleased to have this now in place.
Added Online Announcement Module
We’ve added this window so that users can see our latest news and updates,
News & Events
Not only have we been working hard on the tech, we’ve also been pushing to get the TitanSwap name out in the market. Here’s a rundown of some notable highlights from the last month
Most Noteworthy DEX of 2020
At the Star Power Blockchain event we were thrilled to be awarded the most noteworthy Dex of 2020. The event was attended by over 500 members of the blockchain industry. Lots of DeFi projects were mentioned, so to rise to the top of these was testament to everything we’ve achieved this year. The first of many!
AMA with CryproIz Community
We had a great AMA with the community at cryptoizmedia. They seemed really excited about TitanSwap and they had some great questions for us. Read the AMA recap here
https://cryptoiz.net/ama-recap-titan-swap-with-cryptoiz-community/
TitanSwap Launches on Indonesia’s Largest Exchange Indodax
The listing on Indodax marks our 4th public offering listing since our launch. Indodax has over 1.6 million users and is fast becoming the most popular exchange for indonesian users.
TitanSwap in Talks with Pantera Capital
TitanSwap is currently in talks with crypto hedge fund and investors Pantera Capital. Pantera Capital famously achieved over 100% returns for investors this year largely through their investments in DeFi. Stay tuned for more on this story!
Strategic Partnership with Defix Finance
This month we signed a strategic partnership with Defix Finance to empower the blockchain industry and drive it forward together in the process of digital asset structuring.
