The Singapore-based TomoChain project will enable a new P2P lending feature based on the TomoDEX platform.

According to For the official announcement TomoDEX is the first decentralized platform, powered by the TomoX Layer 1 protocol, TomoX is expected to contain a maximum of 150 DEXs.

Currently, the new platform is launching with instant trading enabled, and this platform will feature an advertised speed of 2,000 transactions per second.

Mr. Long Vuong, CEO of TomoChain said:

P2P lending needs a trusted trustee and there will be no information asymmetry issue.

All functionality is handled through auditable smart contracts and secured through the TomoChain blockchain.

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P2P lending uses a unique and familiar spot trading payment approach to offer fixed term loans in USDT for 1, 7, 30 and 90 days based on interest rate and position.

Borrowers can flexibly support their loans by choosing collateral as well, including Bitcoin, Ethereum and TOMO.

How does the new service work?

TomoChain is built on the MasterNode 150 system with Proof and Consensus Voting, or PoSV.

TomoChain also relies on support for smart contracts and EVM-compliant protocols, along with token transfers across the atomic network.

Mr. Vuong believes that the platform does not require third-party authorization and does not contain any central component compared to many other hybrid DEXs, since its functions are directly integrated into the base layer of the TomoChain blockchain, so TomoDEX can operate at the same speed as the blockchain it is built on, as Vuong explains this by saying:

Users get a fast trading experience, close to any other central trading platform but without the downsides of trusting a third party.

TomoDEX users also do not need to keep the company’s original token, and dealing with know-your-customer (KYC) service will be optional for any DEX launched on TomoX. In this regard, Vuong told Vuong:

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TomoDEX is a facilitator that does not maintain user funds or manage user accounts in any way, unlike traditional centralized exchange platforms.

So the onus is on the merchant who is responsible for reporting gains and losses in their local jurisdictions.

However, we will comply with and comply with the crypto regulations when they are formed, and comply as required.

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