Make TFT part of Ethereum ecosystem and as such open up compatibility

#1

Make TFT part of Ethereum ecosystem and as such open up compatibility

Would be good to have TFT also compatible with an Ethereum compatible blockchain

And support Ethereum compatible tools like Metamask wallet, …

Today our main chain is on Stellar, which is a good platform and flexible. Its unfortunately less used than some Ethereum based platforms.

Possibilities

Binance Smartchain

pro

  • we are already on that chain for DEFI Pancake Swap
    • the bridge does already exist between Binance Smartchain & Stellar TFT
  • transaction fees are low
  • we don’t have to set it up ourselves, its a public chain
  • can start here and move over to our own blockchain
  • ready for DEFI because other currencies are wrapped there

con

  • binance itself is complicated
  • no support from binance whatsoever
  • its centralized

Deploy our own blockchain based on Cosmos/Tendermint

pro

  • fast
  • all flexibility
  • based on Cosmos/Tendermint (as used by Binance Smartchain)
  • can support and fix if needed, ideal for future
  • truly opensource spirit, ecosystem growing very nicely
  • the TFT can be the native token of the blockchain no need for other intermediate currency like BNC

con

  • need to motivate community to run blockchain nodes
  • more work from our side

Choose other partner

pro

  • have partner and their ecosystem e.g. Casper, …
  • we love to work with partners
  • Casper is considering to give us a grant, which would be Amazing

con

  • some of them not 100% compatible yet, need to figure out how to do everything

remark: there are others like https://gochain.io/

Polkadot Moonbeam

pro

  • we already use Parity Substrate as blockchain for deployment & TFGrid management, is part of same ecosystem
  • there is the possibility of getting a grant

con

  • we have no experience yet with this tech, but ofcourse can build
  • Polkadot is expensive to integrate with, Kusama could work as well

Ethereum itself

pro

  • still the default

con

  • transaction fee way too expensive
  • slow

Suggested Approach

  • start with Binance smartchain, can always move to other chain later
  • create new UI on top of Binance Smartchain for DEFI, make it much more easy !!!
  • use metamask as native wallet also for TFT on this chain

questions

  • can we run our own DEFI or other smart contracts on Smartchain?
  • how easy to make our own UI on top of it?

Feedback

please give us any feedback

3 Likes
#2

I’ll save the overall debate for people with more expertise but for me this is crucial. I know TFT is now whitelisted on 1inch.io (there is a tutorial coming to the forum today or tomorrow I believe) which says they are an easier entry point to DeFi. I don’t know the process or the resource commitment to creating a better DeFi but I do know that creating an easier UI would for sure open up new audiences.

#3

Hi Team, I really like your option “Deploy our own blockchain-based on Kosmos/Tendermint”. Can it be a very sustainable and profitable scenario for the network which will have X hundreds of underutilized 3Nodes very soon?

1 Like
#4

Would be good to have TFT also compatible with an Ethereum compatible blockchain

It’s an option but it will require yet another pool to fund, and having TFTs in different flavours already confuses the community.
Given the high trx costs and slow execution, I wouldn’t put it as a priority right now.

#5

starting with BSC and moving to ETH once gas fee is lower

#6

I think this is an amazing idea. The fact that this option is in tune with the opensource spirit, it might interest even more the farmers at Threefold, thus the con “need to motivate community to run blockchain nodes” might be more easily overcome. Pitched the right way, it could even turn into a pro as per the farmers’ perception.

Personally, being a farmer of TFT, I would be very happy to run blockchain nodes as such if it helps the growth and health of the Grid. In the telegram channel, we can see that many people are eager to run blockchain nodes and contribute more actively to the Grid.

Thank you for this great post!

1 Like