TPY/USD (-3.42%)
Thrupenny (TPY) is a cryptocurrency that is deployed on Binance Smart Chain (BSC BEP-20) in 2022 as a next-generation financial product token. Thrupenny's native token is the composite part of the whole Thrupenny protocol. It aims to transform the DeFi infrastructure for investing, lending, and borrowing with its decentralized lending pool and in-built derivatives decentralized exchange (DEX) SYSTEM. The token also facilitates all economic activities within the protocol via transactions between agents and incentives to liquidity providers in the asset management system to ensure optimum operation levels within the protocol. The token is utilised in the Decentralised Autonomous Organisation of the protocol as a governance token to allow community-driven decisions regarding the risk levels assumed by the lending pool. The token facilitates the DeFi ecosystem to allow users to trade and invest in their cryptocurrencies.
A Bit About Thrupenny
The Thruppeny token was launched in 2022 by the Thrupenny protocol in the Ethereum ecosystem to overcome the current deficiencies of the DeFi crypto lending space as it introduces a new generation of the crypto lending protocol powered by a derivatives-based risk management engine and inherent derivatives DEX and flashes loan arbitrage automation system. TPY acts as a facilitator of the whole economic activity in the system between different agents and creates appropriate incentives to ensure the effective functioning of the whole process. Thrupenny also works as a governance token enabling efficient, community-driven decision-making in the Thrupenny system.
Thrupenny is the native token for a new DeFi ecosystem, where it is possible to lend, borrow and invest.CryptoLists.com
Thruppeny TPY token is the native token of the Thruppeny Protocol running on the Ethereum Network after its launch in 2022. It is one of the main transactional currencies of the Thrupeny Protocol which enables lenders and borrowers to access discounted interest rates from the lending system. It also facilitates the internal governance mechanism by determining the voting rights of members of the Thruppeny Decentralised Autonomous Organisation (DAO) for issues such as risk management contracts and changes in the DeFi lending and DEX systems. The token is also utilised for staking and facilitating the reward distribution to participants in the Thrupeeny protocol that issues liquidity. Liquidity providers earn TPY and stake in the reward pool to gain rewards. The reward pools are from yield farming, lending system, arbitrage bots, and Derivatives DEX transaction fees. It has a max supply of 1,000,000,000 TPY coins
Utility of Thrupenny?
The utility of the Thrupenny token is to make decisions for the overall spec, risk management configuration, and decision regarding the introduction of new derivatives strategies for the system. The protocol token applies as a staking token that facilitates the reward distribution to the participants of the protocol who provide liquidity to the system.
The token can be used by those who want to lend, borrow, and earn interest on crypto assets as it will be used to access these services by everyone. It also facilitates internal governance mechanisms and determines the voting rights of the user in the Thrupenny DAO.
Thrupenny Price details
ERC20 Contract address: 0x968Cbe62c830A0Ccf4381614662398505657A2A9
›› Details & Tokenomics
›› TPY tokenomics and social media
Advantages of Thrupenny
+ Rewards users for lending or staking in contribution to the liquidity pool.+ Thrupenny facilitates fixed interest rates for lenders and borrowers.
+ TPY serves as the governance token for the Thrupenny protocol.
+ It powers a risk management engine via its protocol.
+ It facilitates a flash loan arbitrage automation system.
Disadvantages
- The TPY coin is relatively new and hence considered risky.- Thrupenny has had minimal updates to deduce a solid trend.
- The coin is only listed in a few crypto exchanges.
- There is limited information on the founders of the token.
- Thrupenny got a very basic website, with limited information.
Costs
▪ Rated at 7/10Users of the Thrupeeny incur costs related to DEX fees, lending fees, and infrastructure fees that are accumulated and distributed to liquidity providers. The costs have not been defined precisely when considering transactions with TPY. The platform has revenue-sharing mechanisms. One layer of the liquidity mining mechanism integrates with the system making it financially rewarding for the participants to stake their funds in the liquidity pool and stake their native tokens and receive their share from the reward pool.
Staking the funds in the liquidity pool ensures that the Liquidity Providers receive tokens representing the proportion and amount of their contribution to the liquidity pool. There are incentives in the system for the Liquidity Providers to keep their funds staked in the pool as revenue generation has a compounding effect.
Reputation and Buzz
▪ Reputation rated at 7/10▪ Buzz rated at 7/10
With such new coins launched, it is yet to gain a solid reputation with several unknowns. However, it has gained traction with crypto traders who want to lend, borrow and earn using the token as they have hopes for its growth in the market. It is designed to be the new evolution in DeFi infrastructure for investing, lending, and borrowing. The token powers a derivatives-based risk management engine and inherent derivatives DEX as well as a flash loan arbitrage automation system. Many traders are appealed to a better stable interest rate it provides for an efficient lending pool that avoids over collateralization. It has also been listed on Lbank and XT.COM and adds increasing its accessibility to users.
As it is a new coin, some online forums are expressing caution over investing in the new token. It is essential to have further research on a recently launched token and avoid potential scams. Users are still buzzed over the token and are receiving updates from the Thrupenny team by subscribing to their social media platforms.
FAQ
When was the token launched?
TPY was launched in 2022 to support the Smarter DeFi ecosystem in lending, borrowing, and investing cryptocurrencies.
Where can I buy the Thrupenny token?
The Thrupenny token is available at top crypto exchanges; XT.COM and LBank.
Do you gain voting rights for Thrupenny tokens?
The token will be used for the facilitation of the internal governance mechanisms and determining the voting rights of the user in the Thrupenny DAO.
What is the maximum supply of Thruppeny?
It has a maximum supply of 1,000,000,000 TPY coins.
Screenshots from Thrupenny
Thrupenny details and tokenomics
