Tethys cryptocurrency exchange is a decentralized exchange based on the Metis network. It was launched on December 17th, 2021. It allows users to lend, swap, add assets to liquidity pools, farm, stake, and have a look at analytics in real time. Tethys goal is to provide the Metis Andromeda network with a native decentralized exchange software that is lightning fast, trustworthy, safe, and technologically sophisticated so that it can meet any and all trading requirements.
Since Tethys is a decentralized platform, users don't have to go through the KYC process.
Markets
Tethys allows for leverage trading and swapping. Thus, there is no Tethys spot trading option available. As for swapping, users can easily swap tokens with zero price impact. There are over 15 Tethys trading pairs. However, do note that, as of writing, it is a crypto-only exchange.
Talking about leverage trading, users can open either long or short leverage positions. Traders can choose up to 50x leverage. Besides, they can also set stop-loss or take-profit orders.
Talking about Tethys exchange fees for swapping, there is a 0.2% fee. However, in terms of Tethys crypto fees for leverage trading, there's a 0.1% fee for closing and opening positions. The collateral for long positions is the token being longed, while the collateral for short positions is stablecoins supported by the platform. So, for example, for long BTC positions, the collateral would be BTC, while for short BTC positions, the collateral would be USDC. Additionally, there is an execution fee that covers blockchain network costs.
TETHYS is the native token on the crypto exchange. It can be used for governing the project, staking, or simply for holding.
Other Services
Apart from trading, Tethys also offers other services, one of which is earning METIS fees collected from leverage trading and swapping through staking and yield farming. Users can earn these fees by staking TLP tokens or locking them in TLP Vaults. In addition to that, they can do the same with TETHYS tokens.
Besides, users can earn even more farming and liquidity provider rewards by lending their assets or leveraging LP tokens on Tethys lending pools.
Users can also earn passive income through the referral program. All they have to do is invite new people to the Tethys crypto exchange and make sure that these people stay active.
Moreover, users can utilize Tethys Analytics tools to find all the information they need about the crypto market.
Lastly, Tethys crypto exchange features a token bridge, which allows users to move assets to and from the Metis network.
About the Company
As mentioned before, Tethys cryptocurrency exchange was launched on December 17th, 2021. It is a DeFi project powered by the Ethereum-based Metis network. The founders of the exchange are unknown.
