In concomitance with Staking, the developers are also working on Forex Trading, and the first pairs to be added to the exchange will be EUR/USD, JPY/USD, GBP/USD and CHF/USD.

TigrisTrade - Deployment on Arbitrum and new features!

Tigris leads the industry in the use of NFT-based open positions, creating a more knowledgeable and reliable trading environment that is open to anyone. With Tigris, you may engage with your open positions like NFTs, rapidly settle trades at guaranteed spot prices, and pay low fees.

What’s cooking at TigrisTrade?
On September 2nd, TigrisTrade conducted their initial Governance NFT sale on Polygon and deployed the liquidity. They averaged a daily volume of $50,000 throughout the first 10 days and received a lot of insightful feedback from traders.

The development team has improved the smart contracts after this initial round of exhaustive battle testing, and they are now prepared for deployment on Arbitrum. More precisely, they abolished the 40-second wait in updating TP&SL after opening a position and updated the OpenZeppelin ECDSA library, among other things.

They also introduced the new Bug Bounty program along with these updates: Whoever discovers a serious protocol bug will receive 5k Dai.

Join the TigrisTrade Discord server to take advantage of this initiative, share your insights with the developers, and more.

Tigris Staking and Tigris Forex
The Tigris Development team is working hard to always implement new features based on users feedback but also their own innovative ideas. They have announced Staking will be implemented sometime around the Arbitrum deployment, investors will be able to stake tigUSD to earn more tigUSD. The staking contract will hold the treasury Governance NFT allocation which is how stakers will earn revenue, however staking will be capped at 200k tigUSD.

In concomitance with Staking, the developers are also working on Forex Trading, and the first pairs to be added to the exchange will be EUR/USD, JPY/USD, GBP/USD and CHF/USD.

What is Arbitrum?
One of several potential remedies for the current Ethereum transaction fee dilemma is the Arbitrum technology. In terms of market value, Ethereum is the second-largest cryptocurrency, but its exponential development has been constrained by network congestion and hefty fees.

By offloading as much computing and data storage from Ethereum's primary network (layer 1) as it can, Arbitrum seeks to lower transaction fees and congestion. Data storage methods other than Ethereum's blockchain are referred to as Layer 2 scaling options. This is so that it maintains the security of Ethereum and is constructed on top of Layer 1 (the primary Ethereum network).

The Arbitrum chain is an excellent choice for TigrisTrade expansion.

Tigris Governance NFTs
The protocol is under the control of the Tigris Governance NFT owners.

Trading fee gains are paid out in real-time to NFT holders. Holders of governance NFTs do not need to stake them in order to profit; they can simply keep them in their wallets. Either through the Tigris website or directly through the Governance NFT contract, you can file a claim for earned fees. Tigris stablecoins are used to deliver rewards.

The NFTs are available for purchase on the main website in the Governance tab for 600 $DAI.

All market trading fees are paid in full to Governance NFT holders. Holders of Governance NFTs receive 80% of the trading fees generated by limit orders, with the remaining 20% going to rewarding successful executions.

Project Links:
Website - https://www.tigris.trade/
Twitter - https://twitter.com/tigristrades
Discord - https://discord.com/invite/HkUVgx5rWg

Written By

Petrache Ionut

Sep 17, 2022