First decentralized, token-based data platform
In 2020 we saw the rise of decentralized exchanges, fueled by the huge growth of Uniswap and other decentralized liquidity protocols. For the first time, a decentralized solution offered its users a superior experience. While it still has its flaws, it was already able to present established, centralized competitors with a real threat to their dominance in this market. In the case of exchanges, this was possible through various factors that mainly offer transparency and give power and control back to the user itself, proving that self-governing systems can work.
We believe that decentralization can have a similar if not even bigger impact on other areas of this industry. That’s why we decided to build tixl.finance with the premise in mind that our users and our community should play a significant role in the development and governance of our platform. Until now, investors and traders have been used to draw their data and information from centralized sources. These traditional data platforms obtained a lot of power over information flow and the quality and state of the data that is presented. They are based on a system that is prone to manipulation and doesn’t take into account the opportunities that lay in decentralization and building something that is community-driven and self-governed.
Apart from driving decentralization, tixl.finance is the first data platform that involves the use of a token — TXL. Our goal is to push forward towards a more and more decentralized platform by gradually introducing more features that move us in that direction and increase the token utility of TXL.
Solving pain points for users and projects
The first features directly tackle two major pain points of traditional platforms: ensuring data accuracy and the lack of speed when it comes to implementing this data. On tixl.finance, everyone can complete tasks around the platform via Github commits. This includes improving project-related content and data, such as token economics, descriptions, market pairs, logos, etc. The rewards for completing these tasks will be paid out in TXL tokens. Furthermore, projects can onboard themselves or edit their data directly via Github, which can then be verified by members of our community.
For users of tixl.finance, this does not only decrease the time after which they will be able to find data on a new project, but also it will be possible for them to verify, if the data is accurate, who added it, and when it was added, in a transparent way via Github.
On the project side, there is an issue that stems from them wanting to list on as many sites as possible. This process is time-consuming, and the platforms often do not implement the data correctly (mostly token economics, supply, etc.), which then leads to discrepancy between different platforms and even more time-consuming feedback loops between the project and the platform until the data is fixed and displayed correctly. tixl.finance solves this problem by allowing a project to enter its data transparently on Github while the submission process can already be reviewed by the community. The information is then available open-source on Github and can even be integrated directly by other tools.
Tixl.finance can and will be the decentralized single point of trusted digital asset data.