Tixl has officially rebranded their cryptocurrency to TXL and launched on Ethereum. Along with this the token bridge has launched and you can now trade TXL on Uniswap.
In case you’re not caught up, here’s a quick-fire run through of what’s been going on with Tixl:
Tixl recently made a tactical move to shift a portion of their tokens over to Ethereum,rebrand the token from MTXLT to TXL and split MTXLT to TXL in a 1:1,000 ratio. The token rebrand and split was meant to happen when they moved to mainnet, but with the plan to partially move to Ethereum potentially introducing a whole new audience to the token, it makes sense to do it now.
Along with the move Tixl planned to list on Uniswap, which is where the vast majority of attention is at right now. It’s the place to be. Being on the Binance Chain, Tixl were of course unable to leverage Uniswap to their advantage.
Thus, they decided to make a partial move to Ethereum with a token bridge which allows users to move their Tixl to Ethereum if they wish. It also enabled the listing on Uniswap.
All of this was a plan, and now it has happened. Off the back of this huge update, Tixl has released plans for their DeFi ecosystem along with a roadmap that you can use to see where they are heading.
Solving problems with the Tixl DeFi ecosystem
You’ve probably noticed that DeFi is having some problems right now. The scalability of Ethereum has been leaving people stuck and looking for alternatives. This is exactly what Tixl is aiming to fix.
The Autobahn Network is Tixl’s proprietary network which is designed to provide instant transactions with negligible fees and the ability for authorized service providers to send private transactions. These features could have huge benefits on the current DeFi ecosystem.
Tixl’s Autobahn Network will have an SDK which DeFi products can use to easily access the Autobahn Network and the advantages it provides. This means that any protocol will be able to tap into the network and significantly improve their service level.
In addition,Tixl’s DeFi ecosystem will be interoperable, so any blockchains can get involved.
To build a new DeFi ecosystem, Tixl will be releasing a suite of products that will provide a baseline. The first is the Tixl Wallet. This will, of course, give users a safe place to store their TXL and other tokens and interact with DeFi applications.
The second product could be a game changer – The Tixl Exchange (Swap DEX). By using Tixl Network, this Swap DEX will be lightning fast and have almost zero fees and could support any blockchain.
Swap DEXs, mainly Uniswap, have shown an incredible increase in interest recently, even with all the limitations that Ethereum imposes. Clearly they provide a highly desirable service for the crypto community.
Here’s a graphic that Tixl made that shows the difference between their Swap DEX and Uniswap.
Uniswap, a Swap DEX, managed to beat Coinbase out for volume recently. And that was with ridiculously high fees and slow transaction times. Imagine what a Swap DEX could achieve with instant transactions and tiny fees.
Roadmap to a fully interoperable DeFi Ecosystem and the Tixl Exchange (Swap DEX) in 2020:
- September: Autobahn Network: Cranz Release (Web-Wallet Redesign, Stability & Performance)
- September: Release of the Autobahn Network SDK/API
- September: Staking with Ferrum Network
- September — November: Several Partnerships to enlarge Tixl’s DeFi Ecosystem
- October: Autobahn Network BTC (Mainnet) Integration
- November: Autobahn Network Ethereum Integration
- December: Autobahn Network Alphanet Release
- December: Launch of the Tixl Exchange (Swap DEX) v0.1
Just what DeFi needs?!
Tixl’s partial move to Ethereum is just the first step of their grand plans, clearly. The launch of the Autobahn Network and Swap DEX could have a powerful impact on their future. It seems like they are building a platform that will be able to host a much-improved version of DeFi that will work with any blockchain and allow frictionless transacting.
An instant, miniscule fee Swap DEX seems to be what the market is looking for. Add on easy network integration and interoperability, it’s quite possible that Tixl is holding a winning hand right now.
*This article has been sponsored. The Daily Chain encourages you to carry out your own research before you make any form of investment and educate yourself about how to stay safe in the crypto space.