Komodo completes P2P cross-chain token fundraising for the NFT infrastructure project Tokel »CryptoNinjas

Komodo, an open source technology provider that provides integrated blockchain solutions, is the pioneer behind it Atomic DEX It can safely and instantly exchange and transfer assets between traders’ wallets without the need for AMM. Today, it announced that it has successfully completed a peer-to-peer cross-chain fundraising with tokenized infrastructure provider Tokel.

Fundraising uses a unique method that ensures that users can access tokens without having to use an automated market maker (AMM). On the contrary, fundraising relied on a peer-to-peer, decentralized order book for the first time, introducing a financially more feasible and safer fundraising solution.

Token fundraising hackers continue to plague this field. Uranium Finance (an AMM Uniswap clone built on Binance Smart Chain) lost US$50 million in exploits, and Meerkat, also an AMM, lost US$31 million.

AtomicDEX does not use an automatic market maker (AMM), but relies on a peer-to-peer, decentralized order book.

This new fundraising mechanism can also reduce fees because the liquidity model ensures that investors can lock in a specific exchange rate during IDO without worrying about slippage.

In the past, due to the algorithm-based binding curve determining the price level, running IDO on AMM-based DEX such as Uniswap has always been problematic.

For example, some investors of UMA IDO in April 2020 suddenly found themselves paying 10 times the expected IDO price, plus the high gas fees on the Ethereum blockchain.

Atomix DEX

Komodo’s atomic swap-driven DEX technology removes major obstacles in the equation for projects that start assets and participating cryptocurrency investors.

By using a peer-to-peer solution, AtomicDEX eliminates smart contract vulnerabilities and carpet pulls-common problems that lead to the loss of large amounts of funds for other DEX and DeFi protocols.

In addition, AtomicDEX extends IDO compatibility to dozens of blockchain protocols, many of which provide extremely low network transaction fees.

The AtomicDEX solution supports cross-chain and cross-protocol transactions across multiple networks through the blockchain-agnostic protocol. In addition to Komodo-based assets, it also supports Bitcoin, Ethereum, Binance Smart Chain, Dogecoin and dozens of other blockchains.

“We are very pleased that TKN has become the latest token listed on AtomicDEX and is the first to use AtomicDEX to launch IDO. This marks an important milestone in our technological expansion, as we now provide plug-and-play for fair coin issuance Option. I believe other projects will follow in Tokel’s footsteps.”
– Komodo Chief Technology Officer, Kadan Stadelmann

Tokel is a project dedicated to creating non-fungible (NFT) infrastructure for the Komodo ecosystem. Its roadmap includes an integrated NFT market for AtomicDEX users.

“Komodo provides a perfect solution. It can use its own native token to start an independent blockchain, or it can be integrated into a cross-protocol DEX. The on-chain transaction cost of the KMD/TKL trading pair is less than a penny. This is a considerable advantage over IDO on ERC-20 DEX. Users participating in IDO do not have to interact with smart contracts when trading, so this fundraising mechanism is more secure than that provided by AMM-based DEX. Another important point The benefit is that AtomicDEX provides users with a secure, built-in non-custodial wallet to store their TKL tokens.”
– Tokel lead developer, NutellaLicka

With the help of the new mechanism, the fundraising campaign invested nearly $1,000,000 in Tokel (TKL).

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