TronWatch Market (TWM Token): Tron Network’s New Decentralized Exchange Launches
Tron Network Brings in the TronWatch Market and A New Token Sale
In a Medium post on September 20th, Tron Network announced that they would be launching a token sale, along with the new TronWatch Market. The entire goal, from the start of the company, has been to provide the community with tools that will help users take advantage of the network while pushing for innovation.
The platform has already launched both TronLink and TronWatch Desktop Wallet to support the connection on the blockchain. According to the blog,
“This allowed anyone, not just developers, to be able to send, receive and store TRX. After they were released we were overwhelmed by the positive response we got by the community. To continue our efforts towards improving the network, we have decided to work on something very new and exciting! Together with our partners from Sesameseed, we are thrilled to introduce you to our next project; TronWatch Market.”
With the new product, Tron will employ the use of a decentralized exchange, as users are able to trade any applicable TRON token with TRX securely. Here are the key points outlined by the blog, regarding the new DEX:
- Maintaining security through the use of smart contracts and open-source protocols.
- Making the project easy to use for any trader.
- Establishing a marketplace that promotes the buying and selling between users and traders
The token sale will involve two different purchase methods. The main one is through the Basic Token system, and there is a fixed rate for TX. The other option is the SEEDGerminator, which comes from a partnership that Tron has with Sesameseed. Any SEED token can be exchanged for TWN, resulting in a 25% bonus.
Based on the information available on the blog,
“A total of one billion TWM tokens are going to be available for 0.5 TRX (~$0.01) each, with a soft-cap of 13,500,000 TRX ($270,000) and a hard-cap of 250,000,000 TRX ($5,000,000). Participants will be fully refunded (excluding fees) in the event that the soft-cap is not met.”
TWN is classified as a utility token, since it has a specific use in this situation. Users are able to get lower trading fees, get lifetime free trading, and invest in spots that are only available to these types of tokens. More information will be released to the public at Tron gets closer to the release.
To get involved with the token sale, visit https://tronwatch.market/.