Ethereum-based project Tiamonds is set to launch on the popular digital assets trading platform P2PB2B exchange, the platform announced via a recent press release.
Tiamonds is an asset-backed token based on the Ethereum blockchain representing a real-world individual diamond. The project seeks to combine asset tokenization, education and gamification with a deflationary cryptocurrency.
Per the announcement, Tiamonds is powered by LCX, a regulated fintech company. LCX is registered as a compliant, trusted technology service provider. It revealed it is conducting the token offering in accordance with the innovative Liechtenstein blockchain laws.
What sets Tiamonds apart?
TIA Tokens are community-driven DeFi tokens that were launched fairly. A deflationary cryptocurrency, TIA Tokens have a declining supply over time. There are only three straightforward operations in TIA Tokens: rebalancing, reflection, and burning.
Each on-chain transaction is subject to an automatic 10% fee, which is divided into three groups:
Reflection: All current holders receive 5% of the transaction fees for each buy, transfer, and sale;
Rebalancing: A 2.5% fee is automatically added to every transaction at Uniswap. The acquired LCX Token will be added to LCX’s long-term reserves;
Burn: A 2.5% burn rate is applied automatically to TIA Tokens.
Tiamonds and its TIA Tokens
Although Tiamonds may be a newcomer in the DeFi industry, considering its recent emergence, the platform may be outshining other projects in the industry as its TIA Tokens are considered fair-launched and community-driven DeFi tokens.
Tiamonds functions with the ERC721 Non-Fungible Token standard. The platform offers users the opportunity to venture into an asset-backed investment. It is also interesting to note that the tokenized diamonds are backed one-to-one by natural diamonds. Meanwhile, NFTs, such as tokenized diamonds, can be traded and redeemed.
Fortunately for its users, Tiamonds can now be traded on any crypto exchange worldwide, thanks to the ERC721 standard it adopts. Since Tiamonds are issued by LCX, the tokens will be offered at LCX’s decentralized NFT platform.
Users who can purchase Tiamonds will be able to keep them, trade them or hodl them to enjoy the benefits of the “Own to Earn” model and get TIA Tokens as rewards. Meanwhile, Tiamonds can be traded or sold on third-party NFT marketplaces such as OpenSea and the upcoming LCX NFT marketplace.
Although the date is yet to be revealed, the platform disclosed it would soon be listed on the P2PB2B exchange. Hence, the platform has encouraged enthusiasts interested in the project to join its community via its social media accounts.