Timechain is a Money Services Business (MSB), that specializes in DeFi (Decentralized Finances), and digital asset management services, located in Canada.
Its purpose is to provide financial solutions, and to democratize finance for users.
By leveraging digital assets through its secure and broad ecosystem of products. All of these, while improving the pricing, the accessibility and the speed of the service at a time.
Timechain is one of the very few Canadian platforms that complies with the AMF (Autorité des Marchés Financiers), and the Fintrac (Financial Transactions and Report Analysis Centre of Canada) standards and regulations.
Some of their key products include Timechain App, that allows users to exchange fiat and/or crypto currency via direct message. Timechain Swap, a DEX aggregator that runs on the Fantom network (FTM).
The TimeChain app is currently available on the Apple App Store and Google Play store and currently allows you to:
- Send crypto/fiat via direct message – Users are able to invite/find their friends on the app, start a chat, and immediately begin sending crypto between parties via direct message. If you wish to send fiat (normal money), then a KYC verification process may be required.
- Earn rewards – By holding their crypto or fiat in a Timechain wallet, users can generate interest on their holdings. You can think of the rewards like a high-interest savings account with unlimited transactions and no monthly fees.
TimeChainSwap is the DEX aggregator built on the Fantom Network, it’s a non custodial solution which helps to get you the best rates on swaps on the Binance Smart Chain, Ethereum and Fantom networks.
Founder & Timechain current CEO Louis Cléroux, launched Timechain in its origin, to supply a faster money transfer from Asia to America two years ago. He also foresaw the opportunities that acquiring the proper licenses and partnerships to serve as a MSB would bring. Always expanding, these days, Timechain is building its own metaverse too.
Along with other remarkable successes, Timechain proudly counts with its own utility token (TCS), to power the Timechain ecosystem.
CEO Louis Cléroux & COO Jeremie Picard
Louis Cléroux graduated from John Molson School of Business in Finance, and is currently attending a master in Engineering at ETS Montreal. His latest startup, Timechain, provides quick and economic solutions to international payments, through blockchain and AI.
To personal users, businesses, and to more than a dozen public institutions too. His engineering background led him to search for simplified solutions when dealing with complex problems.
Jeremie Picard on the other hand, Timechain´s COO, is a young entrepreneur with more than five years of experience in management in SMEs, including systems management. He is now leading a team of qualified developers, on building the Timechain next App. Securing finances, and exploring new market opportunities.
Ledgerlink Labs, AlphaBit, Launchpool, and other private investors, contributed to raise the U$ 1.5 million for the final Timechain token launch (TCS) on Sep 28th, 2021.
- In the Business to Business Mode (B2B), Timechain provides a bridge to other Fantom (FTM) exchanges, and Timechain APIs offer a variety of valuable services.
- In the Business to Client Mode (B2C), the mobile/web app platforms, and the Timechain utility token layout easy-to-use yield services for fiat portfolios, and for crypto portfolios.
- NFT holders will enjoy their utility, and the synergy that the Timechain Ecosystem, and its many features will provide.
- Also, Timechain Meta, an early stage crypto fund, designed to efficiently find Metaverse projects in pre-IDO stage, and in the private market, at attractive entry prices.
- The goal is to generate significant benefits through expertise, access and speed.
- Rounding it all up, holders can enjoy lower transaction costs, lower gas fees, easy lending and borrowing of stablecoins and fiat money.
- Users can also tap increased earned interest rates, free access to Premium launches such as NFTs and IDO, as well as other DeFi functionalities like staking and liquidity mining.
With a maximum supply of 20,000,000, the ERC-20 token is named Timechain Swap Token (TCS), and its first network is Fantom (FTM).
The idea is to have a solid utility token with strong tokenomics and appealing incentives, to be freely transacted on Fantom network as well as on BSC and others, through their bridges.
Participation in the IDO, reduction of transaction costs and empowerment on many of the DeFi protocols, are some of the TCS token´s attractive features.
Other utilities are yield farming, gas reduction, and liquidity mining in AMM.
The distribution is as follows,
- 15% for the team
- 20% for community incentives
- 14% for economic development fund
- 18% for liquidity (FTM, BSC, ETH)
- 7% for seed
- 10% private / strategic uses
- 1% for IDO
- 15% for advisors & marketing
More to Come
There are a few exciting milestones in the near future, like increasing the yield on fiat & crypto up to 6%.
Timechain’s first NFT collection will also launch in the future, and include the NFT wallet and the crypto loans on the App.
Adding the Exchange and the aggregator on to the WEB 3.0 app platform. Farming on the DEX (TBD), and finally, launching the IDO platform on the DEX.
Adding Value to TCS
The TCS Buyback Program offers a Dex AMM swap options and Aggregator fees, as well as bridge service fees (100% fees from the usage of TimechainSwap) that are all converted into TCS.
In fact, 25% of the buyback goes into the liquidity farm pools, another 25% into the TCS single staking pool, and the other 50% into the Timechain Treasury.
Liquidity is provided from a set of available liquidity pools called Liquidity Providers (LP). Users can benefit from LP tokens and deposit them to Farm options, to get TCS tokens as rewards.
There is a 20K TCS base reward per month, for the take from the Farming Pools, over the next two years.
Their product called ¨Flexible Savings¨ is advertised as ¨flexible to transfer and safe to earn¨. But it requires the users´ interaction to start, and to enable auto-transfers too. Also, their return rates are variable, and most of the times, much lower than Timechain´s 5%.
Nexo´s product called ¨Earn¨, is advertised as a risk-free passive income with zero fees, compounding daily payout, top-tier insurance and flexible earnings. Seemengly available only in Europe, users can benefit in the deposited coin, or in the NEXO utility coin for an extra 2% fee.
BlockFi´s ¨Interest Account¨ pays monthly with ¨no hidden fees, no minimum balances, and no reason to wait¨. They wave security as a flagship, but a lot of customer data was hacked last year. No currency was at risk. They have more than 4 Billion U$D stocked in their AUM.
Timechain is Well Placed to Grow
Timechain offers all of the beneficial features mentioned by these competitors and more, with no setbacks, at great speed, the lowest costs, and high security levels.
It is a safe bet for private users and for businesses that need a reliable and quick transaction platform. To learn more about the platform, please click here!
The post Timechain: Crypto Payments / Rewards App & Fantom-Based DEX Aggregator appeared first on Blockonomi.
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