How Toon Finance is changing Defi
The DeFi (or, decentralized finance) industry has been rapidly evolving in the past few years. In 2022, the industry has witnessed a lot of revolutionary techs that have helped shape the way forward for the DeFi game. Toon Finance, currently, is at the forefront of bringing a wide variety of tech upgrades and changes to the DeFi game.
One of the most-awaited techs is the Space Bridge being developed by the industry’s current favorite Toonie-meme coin – Toon Finance or TFT. Let us look at the Space Bridge and all the things one can do with it plus all the ways in which it is surely going to change the DeFi world forever.
What is Toon Finance?
Well, if you are active in the crypto industry, you must obviously have heard of the super cute, Toon-inspired Toon Finance Coin or TFT. It is the hottest meme coin on the block right now and the community is going crazy behind it with more than 3 million dollars sold in just the first week of its Initial Coin Offering (ICO).
Toon Finance is a lot more than just a coin. They are creating a Toon-powered ecosystem that involves a crypto token, metaverse, games, NFTs, and, even, a cross-chain bridge known as the Space Bridge. The big, fat ecosystem being created around the coin is the major reason why everybody is pumped up about it and the value it can unlock very soon.
Space Bridge by Toon Finance
As described by the team behind Toon Finance – a space bridge is a solution for our future that enables communication and interoperability between two separate blockchain networks. In other words, it allows for the exchange of value or data between the two connected blockchains.
Toon Finance is bringing to you a Toon Space bridge that can be used to connect different protocols, assets, or applications. For example, you could use a bridge to connect an Ethereum app to a Bitcoin blockchain.
This would allow users of the app to transact using both BTC and ETH. It promises convenience, security, and an enhanced user experience.
Space Bridge is created through the use of smart contracts and can be used for purposes such as atomic swaps, transferring value between chains, connecting DEXs, and more.
In other words, a space bridge is a cross-chain blockchain bridge. It has a lot of use cases and can revolutionize the world of decentralized finance.
What is a cross-chain bridge?
A cross-chain bridge connects independent blockchains and enables the transfer of assets and information between them. Using a cross-chain bridge, the user can easily access a wide variety of protocols.
So, basically, blockchains cannot communicate with each other. For example, you cannot pay in BTC on an Ethereum platform, and, vice versa. This was not really a big problem until some time back when the crypto ecosystem developed beyond imagination.
Now, today, in an ever-growing ecosystem where people are using multiple cryptos and have funds parked in a variety of tokens, it becomes essential to have a bridge or some other tech that will help establish a communication link between these tokens.
Wanchain, launched in 2018, was one of the earliest cross-chain bridges. Ever since, a lot of cross-chain bridges have come up and they are able to transfer assets from one blockchain to another seamlessly. It has helped users in more ways than one.
Now, Toon Finance, the hottest meme coin on the block, is on the cusp of introducing its cross-chain bridge, called Space Bridge. Here are all the deets on it and more!
Toon Finance Space Bridge – Changing the DeFi Game
There are quite a few centralized bridges out there. However, they function almost exactly like an exchange. Users are expected to deposit their cryptos into a centralized platform which will then act as the facilitator for any and all trades that are being conducted.
While people still flock to these exchanges, there is a big drawback to them as well i.e. the lack of adequate security.
Yes, the speed and efficiency of these networks are pretty decent, however, if you weigh it against the cost of security – it doesn’t seem like a sweet deal. These centralized exchanges basically act as the custodial agents of your crypto. They exercise a degree of control over every user’s funds.
Thus, your crypto tokens are vulnerable if anything happens to the exchange. And, even, to malpractices, if practiced, by an exchange. They also charge high deposit and withdrawal fees which considerably reduce your profit on every trade.
Enter Toon Finance Space Bridge.
To resolve all such problems and to simplify the DeFi game forever, Toon Finance is introducing the Space Bridge, a one of its kind, complete solution. It will change DeFi and the way it works forever.
A decentralized cross-chain bridge, called a Space Bridge, will allow users to transfer funds on either network without any hassle. You will not be required to share your name, government-issued ID, or your social security number. You have the right to remain anonymous and maintain your privacy to the fullest.
All you need to access and use the Space Bridge is a wallet address. Yes, just a wallet address and you can do anything you want on the Space Bridge.
New-age Crypto and Blockchain Tech to Look Out For in 2023
The crypto industry is probably the fastest-evolving market out there. Almost every other day there is some kind of innovation or tech upgrade that changes the way the market behaves. Since the industry is still in its infancy stage, it is but natural that there will be lots of different things happening every other day.
The year 2022 was exciting due to various reasons such as –
- Wide-scale adoption of crypto tokens across industries and sectors
- A lot of countries (and, their governments) cleared legal framework for crypto
- El-Salvador became the first country to accept crypto as legal tender
- Blockchain tech has been adopted across corporations including banks
- Massive developments in the field of DEX and DeFi
Going forward in 2023, we expect to see a lot of new technological upgrades and advancements in the crypto industry. In fact, experts believe that 2023 could be a game-changing year for the industry and even the markets (which have been in the throes of a bear run for quite some time now) could gear up for a breakthrough.
Major coins like BTC, ETH, and, even, meme coins like DOGE and SHIB look poised for a massive breakthrough in the coming year. The coming year promises to be quite an excitement in more ways than one for the crypto world.
On the tech front, you can expect to see some amazing developments. Some technologies to look out for in the year 2023 include –
- DEX or the Decentralized Exchange – The decentralized exchange has grown quite a lot in the past few years and 2023, it looks set to grow even further. With a lot of new DEX platforms opening up (including Toon Finance’s very own DEX platform), there is scope for some kind of churning and innovation in this area.
- Metaverse – Metaverse seems to be a long, drawn-out game that will take years to shape up but in 2023, we can finally see big players take positions and chalk out a specific roadmap. There is a lot of money being pumped into this space as well. The rising gaming industry is also supporting the metaverse. The synergy between the two leaves scope for a lot to be explored.
- DeFi or Decentralized Finance – DeFi has been growing rapidly and there have been innovations like cross-chain bridges in the recent past. However, there is a lot still left to be done to make DeFi a mainstream, widely-used form of transaction. Many new platforms are coming up that are bringing with them a wide variety of technological innovations as well that could strongly shape the DeFi game.
- Non-Fungible Tokens (NFT) – Yes, NFTs have been quite the buzzword in 2022 and it seems like the market has grown by leaps and bounds. But, trust us, we are still on the tip of the iceberg on this one. There is so much more to explore in this area. And, as celebrities and major corporations release their NFT collections, the space is only getting more and more recognition which will only increase in the coming year.
These are some of the technologies that we see growing big in 2023. It could make the year quite exciting for all of us in the crypto industry and beyond. It will also be able to make some big, long-lasting changes that will shape the whole DeFi game as we go forward.
How to Buy the Toon Finance Coin?
The Toon Finance Coin presale is still live. It was launched on 10th October 2022 and within the first week itself, it sold out over 3 million dollars worth of Toon Finance Coins. Ever since then, it has been selling out like hotcakes. However, you can still get some presale action.
Here are some simple steps to buy a few TFT Coins –
- Firstly, download a multi-chain crypto wallet (which is an application) on your device and then load it with Ethereum. MetaMask and TrustWallet are some of the well-known multi-chain crypto wallets currently. You can download those or whichever wallet you prefer.
- Once you have downloaded the wallet, load it with Ethereum.
- Now head over to the Toon Finance buy page and connect your wallet to the website. Once you have connected the wallet, you are ready to buy TFT Coins.
- Simply go to the Toon Finance Buy Page and enter an amount in ETH that you would like to swap for TFT Coins. Complete the transaction and you have your share of TFT Coins to use as you please.
You can get your share of the cute, little Toonie coins by following these quick and easy steps. The presale is still going on, however, it might not last long considering the rate at which it is selling out. So, buy your share of TFT Coins while you still can!
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