TangleSea joins the Assembly ecosystem
Diving into DeFi on Assembly
The Assembly ecosystem is growing by the day, while the decentralized finance (DeFi) sector is undergoing exponential growth. That’s why we are especially pleased to welcome TangleSea’s decentralized exchange (DEX), the latest project to enjoy an early mover advantage by joining Assembly.
TangleSea aims to be one of the first DEXs to enable a secure and fast decentralized trading experience on Assembly by leveraging the underlying IOTA protocol.
About TangleSea
The TangleSea DEX is currently being developed on the IOTA Smart Contracts Protocol. It plans to deploy on the Assembly network after the launch of the first iteration of Assembly, expected in 2022. It will focus on offering a fully decentralized automated market maker (AMM) service with low execution fees and features such as seamless liquidity mining, yield farming and staking experiences. As part of this, TangleSea aims to provide a clean and easy user experience that is tailored to attract private as well as institutional investors and users.
Each member of the TangleSea team is a veteran of the IOTA community. They also proudly identify as octopuses, with their three hearts, nine brains and eight very useful tentacles. Together, the team combines the passion of all those hearts with decades-long involvement in finance and tech to deliver a fast, sustainable and fun DEX experience to the community and the wider DeFi space.
As early builders of the IOTA ecosystem, the TangleSea team lives up to their names. Their tentacles reach well beyond the Assembly ecosystem: their DEX ShimmerSea is being built for the Shimmer network while a bridge to connect Shimmer and Assembly to other ecosystems is currently under construction.
According to Dr.Tangle of the TangleSea team:
“We at TangleSea have come together to develop a DEX that we simply would love to use ourselves. It should be fun and easy, trustworthy and safe, and most importantly, sustainable, both from an economic and environmental perspective. Assembly, building on IOTAs feeless architecture, is well on its way to revolutionize the DeFi space and provides a perfect sea bed for us to realize our values for a DEX. Therefore, we are super excited to become a part of a community that builds on a permissionless and scalable multichain ecosystem, which will enable us to develop a faster and cheaper DEX without compromising on security.”
Dive deep into the TangleSea by following it on Twitter or joining its Discord.
About Assembly
Assembly is designed as a parallelized multi-chain network of blockchains offering sharded, composable smart contracts, anchored into the feeless IOTA DAG protocol. Assembly’s sharded multi-chain nature will provide flexibility, scalability, and interoperability as a smart contract network for mainstream innovation and mass adoption. It will do so by offering flexible smart contract execution fees, fast and secure smart contract execution, trustless and feeless native asset transfers across utility chains, full customization of utility chains, composability of dApps, compatibility with the Ethereum virtual machine and other VMs in the future.
In Assembly, anyone will be enabled to launch their own smart contract chain as a utility chain, offering flexible customization of execution fees and incentive structures for validators. Any Assembly utility chain will be overseen by the open, permissionless, decentralized and dynamic Assembly validator pool, executing and validating smart contracts deployed to the utility chains. Validators can be requested by utility chains from the Assembly root chain using an open marketplace. Validators contributing to the security of the Assembly root chain or utility chains will be rewarded with the network’s native token, ASMB, and potentially additional tokens the utility chains might create and award to validators.
TangleSea joins Touchpoint, Assembly’s open builders’ program. Touchpoint offers participants a community of like-minded builders, direct access to funding, experts, knowledge and general support to launch and scale the next generation of decentralized applications and infrastructure on Assembly. You can learn more about how Touchpoint works and how to become a part of it at https://touchpoint.assembly.sc.
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