Discover how Turbos Finance, a decentralized exchange on the Sui Network, is reshaping the DeFi landscape with efficient smart routing, unique liquidity pools, and a gamified DeFi experience.
At Sui Blockchain in general and DeFi in particular, Turbos Finance has emerged as a trailblazer, aiming to democratize financial access through blockchain technology. Ted Shao, the co-founder & CEO of Turbos Finance, envisions a future where financial opportunities are universal rights, unencumbered by the complexities of traditional financial systems.
Operating on the Sui network, Turbos Finance introduces a decentralized exchange (DEX) with a suite of features, including concentrated liquidity pools, an efficient smart routing system, and a gamified yield-earning program on Sui. To cater to diverse user levels, Turbos presents a user-friendly "lite" interface for beginners and a feature-rich "pro" interface for seasoned DeFi enthusiasts.
The Journey of Turbos Finance on Sui Network
Ted Shao and his team embarked on their Sui journey in 2022, making their mark on the Sui Devnet and subsequently launching on Mainnet in May of the following year. The decision to choose Sui was influenced by its infinite horizontal scalability, near-instant finality, minimal fees, and robust data composability. Sui's asset ownership model also played a pivotal role in ensuring the security Turbos Finance needed.
Trading and Liquidity Pools
Turbos Finance distinguishes itself in the vibrant DEX market on Sui through its innovative smart routing feature, focusing on the USDC stablecoin. Recognizing the dominance of USDCeth on Sui, Turbos introduced a smart routing mechanism that allows users to swap USDC from various chains directly to the Sui native asset, eliminating the need to first convert to USDCeth.
"Turbos pioneered a smart routing mechanism that enables users to swap the USDC bridged from BNB, Polygon, Arbitrum, and other chains directly to the Sui native asset," said Ted, "without having to swap for USDCeth first."
This breakthrough has facilitated easier participation in DeFi on Sui for users with stablecoins from different networks, fostering a growing economy of stablecoins on the platform. Alongside token swaps, Turbos Finance offers liquidity pools, enabling users to contribute tokens in trading pairs and earn yields seamlessly. Sui's rapid transaction finality and low gas fees contribute to a seamless user experience.
For those finding DeFi concepts daunting, Turbos Finance injects excitement through its Grand Prix feature, gamifying the experience. Users fuel their virtual cars with the native token, $TURBOS, earning yields through weekly "pit stops." This engaging feature has garnered significant traction, boasting over 50,000 $TURBOS token owners within six weeks.
Under the Hood
Beneath the surface, Turbos Finance harnesses the power of Sui's quick transaction processing times, low gas fees, and specific technologies. Sui's emphasis on digital asset ownership ensures a secure DEX environment, allowing only asset owners to authorize transactions. The integration of Programmable Transaction Blocks (PTBs) streamlines development, enhancing developer velocity.
Taking advantage of Sui's object composability, Turbos Finance leverages this attribute for data structuring, ensuring a cohesive user experience for liquidity positions, rewards, and benefits within the app.
Building for Growth
As Sui's DeFi ecosystem flourishes, Turbos Finance positions itself as a platform catering to diverse user types and activities. The Grand Prix feature's success has sparked plans for expansion, potentially offering it as a service to other ecosystem projects.
Looking ahead, Turbos Finance aims to enhance user functionality by introducing cross-protocol yield farming. This feature will empower users to earn yields across multiple protocols, supported by a comprehensive guide catering to users of all experience levels. Turbos Finance remains committed to its mission of continuous improvement, embracing innovations that foster financial inclusivity on the Sui network.
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About Turbos Finance
Turbos Finance is a non-custodial and hyper-efficient decentralized exchange (DEX). Built on Sui, Turbos brings a universal notion of digital asset ownership and unprecedented horizontal scalability to decentralized finance (DeFi).
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