Arbitrum Launch: New Contracts and New Functionality
Tigris Trade will be launching on Arbitrum with new contracts and new NFT art
Today, TigrisDAO is happy to announce the imminent launch of Tigris Trade on Arbitrum. To support our deployment on Arbitrum, we’re rolling out new (advanced) trade management functionality and will be selling another batch of Governance NFTs!
Tigris Trade is the most advanced decentralised leveraged trading platform, featuring real-time & guaranteed pricing, and the simplest (and overall lower) fee structure on the market today. Tigris DAO controls the protocol and shares the revenue generated by fees via Governance NFTs.
We have a number of improvements and developments in the pipeline, so let’s talk about what’s in store for the near future.
Arbitrum Launch
Tigris is currently targeting an Arbitrum deployment date of Oct. 19. While this date is subject to change, the goal of launching on Arbitrum is to tap into new markets with deep liquidity and to bring Tigris Trade to as many traders as possible.
The recent rollout of Arbitrum Nitro enables better performance (faster and more reliable), and that sets the stage for Tigris Trade’s fast, efficient and real-time pricing architecture to really shine. With Arbitrum Nitro, we will be deploying new smart contracts that streamline the user experience and set the stage for partners to more easily integrate Tigris Trade infrastructure into their protocols (Reminder: Tigris Trade is built to be composable with other projects).
What’s New
The key technical upgrade at hand will be the introduction of more advanced trading functionality. This functionality is typically only available with CEX-based leveraged trading, but has been difficult to achieve with fully decentralised platforms. So, what is this new functionality?
Streamlined Fee Structure
We’re constantly looking for opportunities to streamline our smart contracts and the user experience of all traders. Our upcoming technical upgrade will remove the opening fee from all trades, and will increase the closing fee. This provides a better user experience when calculating PnL for open positions (PnL calculations will be more accurate with the exclusion of opening fee).
This change also reduced the size of the smart contract, allowing Tigris Trade to add some new functionality to the platform…
Remove Margin + Add To Existing Position
With the new smart contracts on Arbitrum, Tigris Trade will allow traders to add and remove margin from existing open positions. This functionality allows traders to better manage their risk and position themselves with more liquidity when needed.
Here’s a sneak peek at what the new functionality will look like on the app.
Trade NFT Artwork Preview
We will soon apply new NFT art to all Trade NFTs. The goal here is to provide users with a visually appealing NFT in their portfolio (especially useful when grabbing attention of potential secondary market buyers).
The new NFT art is animated and features variations to its color gradient to visually reflect the magnitude of leverage used on a particular trade. The artwork exhibits a balance of Tigris Trade’s brand colors (mainly River Blue and Landscape Purple). Open positions with higher leverage will be minted with artwork with heavier presence of purple. As leverage increases, the NFT art will show more and more purple dominance.
Here’s a look at the base artwork:
Bootstrapping Tigris
Tigris Trade is currently operating in Bootstrap Mode. Until the Collateral Vault is sufficiently capitalised, Bootstrap Mode (as sanctioned by TigrisDAO) dictates that 50% of trading fees and virtually all proceeds from Governance NFT sales are sent to the Vault. Funding fees will be shared between traders and the Collateral Vault in a 20/80 split.
This Bootstrap Mode flow of funds is outlined in this infographic:
Once the Collateral Vault reaches the capitalisation threshold of 115%, Tigris Trade will enter its Expansion Mode of operation. All trading fees will be routed to Governance NFT holders, allowing these stakeholders to earn their share of all revenue generated by the protocol. Funding fee split will remain unchanged.
The flow of funds during Expansion mode is outlined in this infographic:
NFT Sale: Oct 19
And there’s just one more thing. Our next batch of Governance NFTs will go on sale on Oct. 19!
To purchase your own Governance NFTs, simply head to app.tigris.trade and click on the “Governance” tab.
Governance NFT Sale
Date: Oct 19
Quantity: 200 NFTs
Price: $650
Remember, every Governance NFT comes with revenue share rights and voting rights. Each NFT entitles the holder to a vote in TigrisDAO, and generates passive income for the holder through distribution of trading fees.
Always manage your risk. Happy trading!
