After witnessing the instability among some DEXes in the Algorand space, we want to take a moment to assure our community that Tinyman is solid and here to stay — committed as ever to decentralization, transparency, and long-term sustainability. In this article, we’ll share our vision for a future of decentralized finance, discuss our strong foundation, and explain why Tinyman isn’t just another DEX; we are the leading, pioneering DEX, and a cornerstone in the Algorand ecosystem.🧍♂️
Tinyman: Here to Last 💪
It’s important to restate that Tinyman is built to last; it’s a leading force in the Algorand ecosystem. As the #1 platform in terms of active users and trading volume on Algorand, we have a financial allocation to keep building until at least the end of 2024, and that doesn’t even include the expected revenue from the upcoming Tiny Token launch. Our team is committed to the long run, and in line with our vision, we’re laying a technological foundation that will allow Tinyman to function as a self-sufficient, decentralized platform even when our core team eventually steps back.
On the tech side, we’re expanding our capabilities beyond token swapping. Our team is actively developing a governance system, and Tiny Token will play a key role in it. This moves us closer to our vision for Tinyman to be decentralized, self-sufficient, and transparent, all while being guided by community decisions.
Transparency and Open-Source Development in the Spotlight
From day one, Tinyman has been committed to transparent operations through open-source development. Most of our codebase — including smart contracts, SDKs, design documents, and brand assets all actively hosted on GitHub for public review and community-led improvements. This open-source commitment isn’t just about building trust; it’s a fundamental part of our vision for a decentralized, community-led platform. If you’re interested in a deeper understanding, our official documentation is also publicly available.
Moreover, we’re excited to reveal our plans to open-source the web UI in the near future, showcasing our strong dedication to community involvement and collaboration. Our talented design team has crafted an exceptional user interface that truly elevates the Algorand experience, and we can’t wait to share it with our community.
Ecosystem Contributions: Fostering Community Involvement
- Tealish Language — Simplifying Smart Contracts: Tealish enhances smart contract readability on Algorand and invites broader community participation. Visit our Tealish website for more.
- ASA List — A Resource for the Algorand Community: Our ASA List compiles all Algorand Assets and allows community members to contribute, enriching the ecosystem.
A Snapshot of Platform Metrics
Protocol Metrics: In Q1 and Q2, Tinyman facilitated around 4.9 million swaps by 36K unique accounts, generating about $120 million in trading volume. This robust activity accounts for a remarkable 60% of the total swaps across decentralized exchanges on the Algorand network.🔥
Integrated Products: Pera Wallet integration has contributed significantly to our ecosystem with approximately 150,000 swaps from 20,000 individual accounts, amassing a volume of $10.8 million. Vestige adds to this by marking about 360,000 atomic swaps and $6.9 million in trading volume. Notably, the Defly integration has witnessed participation from over 2,000 unique users, generating around 80,000 swaps with a trading volume of $5 million.
These metrics and integrations serve as transparent indicators of Tinyman’s performance and show the widespread community engagement and the platform’s reliability in the Algorand ecosystem.
Core Features and Recent Developments
- AMM V2: Our recent leap to AMM V2 marks a pivotal milestone in Tinyman and Algorand’s evolution with groundbreaking features like dynamic fee settings and flash loans. It has been audited, is permissionless, and maintains full transparency.
- Swaps: The recently launched Swap Router has transformed ASA-to-ASA trading and led to 80% of ASA-to-ASA trades being executed through the Swap Router, marking a transformation in how swaps are conducted on the Algorand ecosystem.
- Liquidity Farming and Pools: Tinyman leads the Algorand ecosystem with the most liquidity providers in key pairs like $ALGO/$USDC, offering a secure trading environment. Our community-driven liquidity pools and farming programs reward active participation. Visit Farms: https://app.tinyman.org/#/pool/farming-programs
- Open Sourcing: In addition to Tinyman AMM V2 Smart Contracts, we’ve also open-sourced and documented the Tinyman SDKs: Python SDK and JS SDK. This allows anyone in the community to utilize these interfaces and contribute to them.
- Advanced Analytics: Our platform offers comprehensive analytics on Algorand tokens, arming every user with the tools needed to make calculated and informed decisions.
- Bridges and Beyond: We’ve established cross-chain bridges through partnerships with Pnetwork, Messina, Wormhole, Equito Finance, and Algomint, broadening the range of tradable assets.
- Understanding Fees and Rates: Tinyman imposes fees on swaps, loans, and internal swap operations. When you make a swap on Tinyman, a 0.3% fee is added. Most of this fee, 0.25%, goes to the people who provide liquidity, known as Poolers. The remaining 0.05% goes to Tinyman’s own fund, called the Treasury. Learn more about all the fees: https://docs.tinyman.org/fees
Ensuring Security and Trust: Audits and Bug Bounties
Tinyman prioritizes security with comprehensive audits, recently done by Runtime Verification and a community-engaging Bug Bounty Program in partnership with the Algorand Foundation. Both measures fortify the platform’s safety and trustworthiness. See the Bug Bounty program: Immunefi.
NFTs: Our Commitment in Digital Form
Launching a special line of NFTs called “Tinyman: We’re Here to Stay.” These NFTs will capture our long-term commitment to the community and serve as a lasting symbol of our vision. More details on the distribution of these NFTs will be provided soon through our official social media channels.
Big News: Tiny Token Coming in 2024! 🚀
We’re excited to introduce the Tiny Token for 2024 as a pioneering governance platform on Algorand. Your voice, as our community, will shape Tinyman’s future. Stay tuned for updates!
As we move forward, what sets Tinyman apart is our full commitment to creating a community-led, transparent, and decentralized financial ecosystem on Algorand while providing the best possible experience for our users. We’re not just a trading platform; we are a community, that values open participation. And with exciting developments like the Governance and Tiny Token coming in 2024, we are taking even bolder steps toward fulfilling our commitment.
For those interested in engaging further or who have questions, our official social media channels are open for discussion. Your contributions are the heartbeat of Tinyman, driving continual innovation and growth. To our AlgoFam, thank you for being an invaluable part of this amazing journey.