Tranquil Finance cryptocurrency exchange is a decentralized exchange built on the Harmony blockchain. Initially, it is Harmony’s first algorithmic money market protocol. Besides, it's one of the earliest DeFi protocols to be created as part of Defira's metaverse, which adds a GameFi layer to Tranquil's existing DeFi functions. Tranquil Finance itself supports three main types of DeFi services: DEX, lending, and liquid staking.
Being a decentralized platform, new users can access the platform without going through rigorous KYC verification processes. All you have to do is to connect your existing crypto wallet to the platform and you are good to go.
In terms of country restrictions, Tranquil Finance cryptocurrency exchange does not interact with digital wallets situated in, created in, or individuals living in restricted territories. These territories include the United States, Algeria, Bangladesh, Bolivia, Belarus, Myanmar (Burma), Canada, Côte d’Ivoire (Ivory Coast), Egypt, Republic of Crimea, Cuba, Democratic Republic of the Congo, Iran, Iran, Liberia, Libya, Mali, Morocco, Nepal, North Korea, Oman, Qatar Russia, Somalia, Sudan, Syria, Tunisia, Venezuela Yemen, Zimbabwe or any jurisdiction where the sale of cryptocurrencies is prohibited either completely or partially under laws and regulations applicable to such territory.
Markets
There are over 35 Tranquil Finance trading pairs available on the platform for users who wish to swap their tokens. The main markets on the platform are 1BTC, 1USDC, BUSD, and WONE. There is no Tranquil Finance spot trading option available, neither does the platform support margin, leverage, or futures trading. Instead, it allows the swapping of tokens.
Tranquil Swap uses Uniswap technology, allowing users to swap tokens without permission. This function can be accessed via the Defira front end and the game. Besides, the developers are in the process of transferring Tranquil Finance's other primitives into the Defira interface (as of February 2023), which could eventually lead to Tranquil Finance rebrand.
Tranquil Finance exchange fees charged for trading includes a 0.01% charge for price impact and a 0.30% Tranquil Finance crypto price that is given to Liquidity Providers in the platform. Furthermore, there are no charges for deposits, however, withdrawals are charged based on the crypto network in question.
The TRANQ token is the native utility and governance token of the Tranquil Finance crypto exchange. 75% of all protocol fees are given to TRANQ holders through locked staking. Moreover, as Tranquil Finance's governance token, it will serve as a voting mechanism once the protocol reaches a more advanced level. Additionally, it can be used in Defira's game layer for activities such as buying new Hero NFTs or doing other in-game actions. Furthermore, the TRANQ pool that is locked up provides all tokens available for borrowing through the protocol. The amount of each token received will depend on how many are being borrowed, as it comes from the fees collected by the protocol.
The average Tranquil Finance trade volume ranged around $62,000 in February 2023. Check out the chart above to see the current Tranquil Finance volume.
Other Services
Tranquil Lending is a feature that enables users to lend and borrow digital assets in a completely decentralized and permissionless way while earning or paying interest. Market demand dictates interest rates, and loans are secured with collateral that is worth more than their true value.
Moreover, Tranquil Finance allows users to earn passive income through staking and farming. stONE is a liquid staking token that enables users to earn rewards by staking it within the DeFi ecosystem of Harmony. Users can also utilize stONE on Tranquil Lending as collateral.
Furthermore, users can stake the TRANQ token and receive an impressive yield of 125%. These additional tokens can then be staked again to achieve a compound effect and additional yields.
About the Company
The Tranquil Finance cryptocurrency exchange was founded by a group of experienced entrepreneurs, traders, and engineers. However, details about the founding team are scarce online as they chose to remain anonymous. It is only known that the founder of Tranquil Finance goes by the pseudonym 0xYamcha. Besides, note that in 2022, Tranquil Finance became a part of the Defira metaverse. With time it is planned to fully integrate Tranquil Finance into the Defira ecosystem.
