What is Tethys Finance?
The future of Ethereum scaling lies in L2 solutions. At Metis Andromeda Network, it is on a mission to strengthen Ethereum's scaling efforts by providing a fast, secure, reliable and advanced native decentralized exchange application to meet any trading need. That's why Metis has launched Tethys, a permanent DEX and returns leverage tool built specifically for the Andromeda Network.
Launched on December 17, 2021, Tethys is backed by $TETHYS, the primary currency used to hold, staking, and manage the protocol on it. The $TETHYS token benefits from trading fees earned on the exchange and distributed to $TETHYS shareholders over a one-week period. By staking $TETHYS, users can receive a share of trading fees and participate in governance activities on the Tethys platform.
The Trading Liquidity Pool (TLP) is a unique asset index used for swap and leverage trading. It can be printed and redeemed using any index asset. The print and redemption price is calculated by dividing the total value of the assets in the index, including the profit and loss of open positions, by the TLP supply.
TLP token holders earn 70% of platform fees distributed in the native cryptocurrency, METIS, starting from the liquidity boot period. Please note that the fees distributed are based on the number after carers referral rewards and network costs are deducted. Guard costs are usually around 1% of the total charges.
By providing liquidity for leverage trading, TLP holders can profit from losses made by leverage traders and vice versa. This makes Tethys a great tool for traders and investors looking to profit in decentralized finance (DeFi).
All in all, Tethys is a revolutionary decentralized clearing and returns leverage tool built exclusively for the Metis Andromeda Network. With its enduring design and unique features, Tethys offers a new level of trading opportunities for crypto enthusiasts, while also providing liquidity and governance opportunities to its users.
The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.
Stay ahead of the competition by accessing high-quality data, advanced tools, and expert research.Try for Free