Interview with TitanSwap: DeFi Project Combining Features of Swap with First AMM Automate Orders Mechanism

UTC by Natallia Maksimenko · 9 min read
Interview with TitanSwap: DeFi Project Combining Features of Swap with First AMM Automate Orders Mechanism
Photo: Unsplash

TitanSwap is a DeFi project which is aimed at providing its users with completely self-controlling financial products. Its main goal is a cross-chain swap.

As DeFi projects are gaining popularity, we have spoken to the TitanSwap development team and discussed the present and the future of their project.

Coinspeaker: Could you please introduce the Titan project.

TitanSwap Development Team: TitanSwap is a DeFi project that combines the features of the predecessor in the decentralized finance ecosystem, wishing to provide new millennials and Z-generations with completely self-controlling financial products. With a small number of digital assets and little understanding of the complex on-chain transactions and advanced financial knowledge, users can participate in the project. In light of Uniswap and other products, TitanSwap proposes many optimizations and innovative ideas from the perspectives of both the traders and the liquidity providers, which can be considered as the advanced version of Uniswap.

Coinspeaker: What elements does it consist of?

TitanSwap Development Team: TITAN mainly consists of the following two parts.

• TITAN Swap: A DEX based on the automatic market maker (AMM) mechanism, which gives its users the possibility of a one-stop cross-chain asset exchange based on new features.

• TITAN DAO: A decentralized community organization with TITAN being the governance token of TITAN DAO which has the proposal and voting rights that will jointly determine the future of TitanSwap.

Coinspeaker: How can Titan be implemented?

TitanSwap Development Team: As described earlier, we inherited part of Uniswap’s code and innovated based on Uniswap. We believe that DeFi Lego not only means that the combination of functions between different projects, but also that more innovations in the underlying code.

In the V2.1 version that has been launched, we draw experience from what data Uniswap Analytics reads and then gather the information on one page in TitanSwap, which is more in line with the user habits of CEX users as users can refer to historical prices when trading. Also, we support limit orders in Uniswap pool. As far as I know, we are the first swap to implement limit orders based on AMM and the second one might be Unitrade, after it launch the market. This is also part of the TITAN Automated Order feature, and there will be more of such methods in the future.

In the v2.2 version, you will be able to see TitanSwap’s liquidity pool. At that time, the system will initially integrate TITAN Smart Route, which means that traders can be automatically routed to different liquidity pools based on the current price and slippage information. Meanwhile, liquidity providers can get Titan rewards. Moreover, we will reward the Titan DAO community as soon as possible with the hope that we are no longer the only contributors, and that Titan holder and participants can make decisions together.

Our project cannot be achieved overnight. TITAN Automated Order has some prototypes already, and TITAN Smart Route is coming soon. But these are not the final versions of the product. TITAN Automated Order will further realize more complex order forms and TITAN Smart Route will support a wider liquidity pool. Currently, TITAN Adaptive Bonding Curve and TITAN Layer2 Support is under preliminary verification, and with the community participation, more energy will be stimulated. We hope to leave something for the future of DeFi and DEX, therefore, those who are interested are always welcome to join us.

Coinspeaker: What are the unique features of this project?

TitanSwap Development Team: One of them is TITAN Automated Order. It is an AMM-based automated order mechanism that can automatically execute the orders in the order of the queue when the order reaches the predetermined execution price. It is also able to provide arbitrageurs with automated tools and improve the AMM price formation mechanism.

Another one outstanding feature is TITAN Smart Route. It is TITAN’s order cross-chain intelligent routing, which realizes the automatic selection of multiple main chain liquidity pools. It supports more trading pairs and lower slippage.

Moreover, such option as TITAN Address Audit can be used to audit and provide a List based on Reputation to avoid scam coins.

It is possible to mention TITAN Adaptive Bonding Curve which is TITAN’s self-adaptive joint curve. It can achieve a perfect combination of greater liquidity and better price discovery mechanism for different asset types according to volatility.

The last but not the least is TITAN Layer2 Support. Layer2 protocol was used before ETH2.0 to greatly improve the efficiency of on-chain clearing and settlement, and effectively reduce Gas consumption.

Coinspeaker: What is Titan Swap and what is it aimed at?

TitanSwap Development Team: The goal of TitanSwap is a cross-chain swap.

From the perspective of traders, TitanSwap is committed to providing lower slippage, faster transaction speed, more comprehensive transaction data, richer order types, and cross-chain asset swaps, while not losing any features of DEX. This is also our original intention to do design TitanSwap.

From the perspective of liquidity providers, we are committed to minimizing the risk of impermanent losses, greatly reducing the technical threshold of market makers, enhancing the ability to resist risks and improving market efficiency.

In short, TitanSwap is a liquid mining DEX that supports multi-chain asset swaps. These goals have contributed to some of the improvements we mentioned before, such as TITAN Adaptive Bonding Curve, TITAN Smart Route, and TITAN Layer2 Support. Moreover, users can be a part of our system. 

Coinspeaker: What is the difference between Titan Swap and other DEXs?

TitanSwap Development Team: TitanSwap has inherited some of the advantages of the previous DEX, such as Uniswap’s fixed product mechanism AMM. We believe that AMM will still be the mainstream market-making mechanism of DEX in the future. On this basis, we are implementing TITAN Adaptive Bonding Curve. The previous Curve and Bancor also gave us some inspiration in this regard, but we think we can achieve better. Why not dynamically adjust the Bonding Curve in conjunction with the volatility forecast in the financial sector? In CEX, when the market fluctuates sharply, the market maker will withdraw part of the limit order to protect itself. Now we are verifying VPIN to predict volatility and dynamically adjust the bonding curve. The implementation of on-chain contracts brings some challenges, but it is still a direction worth exploring.

Similar to our use of TITAN Smart Route to realize the automatic selection of Uniswap, Sushiswap, TitanSwap liquidity pools, 1inch is a successful aggregation attempt and supports a wider range of liquidity pools, but we have combined TITAN Automated Order and aggregation functions to play a more important role in some interesting scenarios. Of course, in the future, we will combine the liquidity pools of different main chains to further develop this feature.

These innovations or uniqueness will also be open-source, just like Uniswap, 1inch, bancor, and curve inspired us, we also wish to change the world, and we hope you can benefit from us and then give back to the community.

Coinspeaker: How can you describe Titan Swap 2.0?

TitanSwap Development Team: As the first milestone, TitanSwap will first realize the automatic routing of different liquidity pools on Ethereum, such as Uniswap pool, Sushiswap pool, and realize Swap across liquidity pools. When different liquidity pools provide the same transaction pair, smart routing will automatically select the best route to achieve the best price and lowest slippage. These are the two major features of TitanSwap Cross Chain and Smart Route.

Secondly, although TitanSwap is a Swap product, it does not mean that it can only be a Swap. Most users who are accustomed to centralized exchanges will use a variety of order types. There is a huge difference between the AMM mechanism under DEX and the order book model, which makes the implementation mechanism of limit orders completely different from CEX.

Users can experience Limit orders for the first time on TitanSwap, entrust smart contracts to track prices and realize the function of limit orders, which not only guarantees the non-custodial characteristics of DEX, but also realizes this unique function.

The limit order is only the beginning. Through a similar mechanism, users can entrust smart contracts to implement more abundant order types, and even the automatic arbitrage function between the same type of liquidity pool and cross-type liquidity pools. This is essentially a way to automate orders based on AMM through smart contracts.

Besides, TitanSwap will work on the AMM mechanism, instead of innovating only in the incentive mechanism like other Swap products. Our goal is to reduce impermanence losses for liquidity providers, which we call Adaptive Bonding Curve.

TitanSwap is also actively exploring the implementation of Layer2. The technical route is consistent with Unipig’s technical route. This will undoubtedly greatly improve the user experience from the perspective of both transaction fees and time lag. It can be predicted that the first implementers will form a leading position in the market for some time.

Coinspeaker: How users would benefit from your project?

TitanSwap Development Team: Titan expects to build an ecosystem, which is why TITAN DAO is in such an important position. This ecology includes decentralized traders, liquidity providers, and platform builders. Their interests are tied together because the rules are jointly formulated.

For example, TitanSwap is a one-stop cross-chain asset swap, which automates the entire process through cross-chain assets, greatly reducing the user’s operating costs and at the same time reduces intermediate transaction costs. This is the benefit that traders will get. Traders will give priority to voting to implement features such as Titan Smart Route and Layer2 support. The income of liquidity providers is also tightly tied to the transaction fees of traders, and we can foresee that feature development is also welcomed by liquidity providers. Similarly, TITAN Adaptive Bonding Curve directly helps reduce the risk of liquidity providers, thereby attracting more liquidity, and further reducing the slippage of traders. This binding relationship is long-term rather than based on short-term economic incentives.

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Natallia Maksimenko

Having deep expertise in intercultural communications, Natallia is fond of foreign languages and cultures. She strongly believes that people should continually develop to stay on track, that's why she permanently widens her knowledge in various spheres. Currently, Natallia is fully immersed in crypto, blockchain and financial techs.

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