What is TofuDefi?

TofuDefi is a permission-less decentralized DeFi solution that combines several independent DeFi protocols.

First one is a TofuSwap. The TofuSwap is a protocol for automated token exchange on the TRON network. TofuSwap based on the same idea as constant product Uniswap protocol, but it will utilize several recent improvements like StableSwap and MooniSwap protocols and other recent developments.

Second is a TofuBridge. The TofuBridge is the Ethereum-TRON bridge providing easy token transfers between these blockchains. More precisely it will collect native tokens on the one blockchain and keep them as collateral while issuing wrapped tokens on the other. These wrapped tokens can be traded on TofuSwap or used in other DeFi protocols.

Third one is a TofuOracles. In the first stage it will provide a connection to the external data from real world and alternative chains to maintain TofuBridge. In the next stage of development we will focus on more general use cases.

The Problem

At the moment, the vast majority of DeFi applications are built on the Ethereum blockchain. Unfortunately, the Ethereum Network has become overloaded. Ethereum’s limited throughput and high transaction fees prevent DeFi from being adopted on a large scale.

Alternative blockchain platforms provide better transaction speed and lower fees, but Ethereum has first-mover advantage. Numerous cryptocurrency projects were launched based on Ethereum platform and use ERC20 tokens. Even now, when there are a lot of alternatives, many new projects decide to launch their dApps and tokens on Ethereum blockchain. One of the reasons for this is liquidity. In a liquid market, assets can be easily converted with minimal slippage. Liquidity is the key driver for the adoption and user growth for DeFi projects.

Even though Ethereum 2.0 is going to address these issues, initial release of Ethereum 2.0 will not bring immediate changes. The first iteration will serve as a testing ground for what will eventually become the only Ethereum. This change is estimated to take from one to two years.

Our solution

TofuDefi Project goal is to address this issue by utilizing TRON blockchain.

An early rival to Ethereum, TRON launched in 2017. In March 2019, Tether announced it was launching a TRC-20 version of USDT. Within six months, Tron-based USDT had grown to 12% of the total coinsin circulation, due to Tron’s superior throughput compared with Ethereum. The main technical difference with Ethereum is that TRON uses Delegated Proof-of-Stake consensus mechanism for adding and verifying transactions on its network. This consensus mechanism allows TRON to achieve capability to process about 2000 transactions per second.

Our solution is to create simple and fast bridge between two blockchains to allow people trade wrapped ERC20 tokens on TRON with lower fees. And on the other hand we want to make it possible to trade wrapped TRC20 tokens on Ethereum blockchain which also can be useful in some cases. Our approach is suitable for projects that have a token in only one of these blockchains.

Governance and TOFU token

TofuDeFi token (TOFU) is an TRC-20 asset that empowers community governance of the TofuDefi Project. Holders of TOFU tokens will be able to debate, propose, and vote on all changes to the TofuSwap, TofuBridge and TofuOracles protocols.

The total supply of TOFU token is 100,000,000 tokens. The distribution of the total TOFU supply is as follows:

• 30% will be sold in three public token sales
• 40% will be distributed between liquidity providers and traders within next 3 years
• 20% will be reserved for TOFU team for continued development and support
• 8% will be sold to private buyers
• 2% will be distributed between TOFU ambassadors

Token Type : TRC-20
Token symbol : TOFU
Token Name:  TofuDeFi Token
Contract : TTgnhmov3ezeUGxnfDdjvDt4WhNXDUD3bT
Total Supply: 100,000,000 TOFU

Token Sale

There will be three token sale rounds:

• First token sale started in November 2020. Current price is $0.2 per one TOFU.
• Second token sale will start in Janurary with price $0.5 per one TOFU
• Third token sale will start at the end of February with $1 per one TOFU

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Website: https://tofudefi.com/
Whitepaper: https://tofudefi.com/docs/whitepaper.pdf
Github: https://github.com/tofudefi
Medium: https://medium.com/tofudefi
Discord: https://discord.gg/h38JR35YpH
Telegram: https://t.me/TofuDeFi
Twitter: https://twitter.com/tofudefi

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Telegram ??

So there will be 3 stage of token sale and the stage 1 is already started right now, If not all token sold out for a stage, will it be burn?
Is the price will increase on each stage? or just the bonus is getting lower from the time frame.

TOFU was added to JustSwap:

https://justswap.org/?lang=en-US#/scan/detail/trx/TTgnhmov3ezeUGxnfDdjvDt4WhNXDUD3bT

this is different from the others, why do you share randomly, why isn't it distributed evenly for those who take part in this airdrop program? does this program not guarantee to get 100% airdrop if we participate? or what are the details?

Yes, that is correct. Only condition is to stake your liquidity in pool for more than 24 hours.

One question to dev, if the main issue you tried to solve (as many others tried too)  was the etherchain clogs, and you tried.to offer a swap platform on another blockchain, why tron? I heard (though never witnessed myself) that defis were also built on binancechain. Don't you think walking on BNB would be a better option?

Technical-wise though, how will this affect user of your project, compared to if you're built on etherchain? I mean, back in 2017 or so, when waves was... well, riding the wave, a lot of projects were built on their chain, even claimed that waveschain were the next in line of crypto leader. Although (in the end) many projects were failed and people argued that's because they uses waveschain that has a lot of difficulties, etc.

Regarding waveschain. I'm on expert in that chain, but I consider that their problem was low adoption level. And there were two reasons for that: weak marketing and quite different tech stack compared to Ethereum. The second issue made it harder to add them for exchanges and other businesses. TRON has much better marketing and tech stack very similar to Ethereum.

It's not easy task, but it's possible. There are many projects which aim to realize cross chain communications right now. Usually they utilize their own blockchain for that and try to build common solution for many blockchains. Our selling point is that we don't try to build solution for everything, instead we are focusing on two specific blockchains, TRON and Ethereum, with very similar architecture and technology. We can't guarantee that token losses are impossible, but we believe that it will be very unlikely. Only some serious bug can cause that.

About ABC token. If there will be no wrapped ABC token on TRON chain yet, you will have to lock your ABC tokens on bridge contract in Ethereum network to create wrapped ABC tokens on TRON network. Locked ABC tokens in Ethereum will be collateral for issued tokens on TRON. If wrapped token already exists in TRON chain, you can trade it as any other TRC20 token unless you need more tokens than exists on TRON chain at the moment.