- March 16th, 2021, 11:56 am
#5592
TriumphX (TRIX)
TriumphX (TRIX) – Cryptocurrency for gamers, by gamers, crypto related to games like metal slug
TriumphX (TRIX) is a decentralised exchange & cryptocurrency for in-game items interoperable across blockchains through Polkadot.
Why TriumphX?
50 Billion USD worth of in-games items is expected to be traded on secondary markets annually, but growth of market is held back to due inefficiencies in the market.
Problem 1: Inefficient Markets
There is no official marketplace for most games, resulting in multiple third party service providers creates a fragmented markets. Game providers are reluctant to create a official market for users due to AML/KYC concerns.
Solution 1: Aligned Interest Among Market Participants
Game providers receive a share of economic profits obtained from the trading of in-game items and TriumphX Digital Identity Service eliminates any AML/KYC concerns.
Problem 2: High Fees
For P2P trading of in-game items, users are unable to trust each other due to lack of official feature to conduct a trade with real money. This often results in reliance on costly third party custodial service providers that charges commissions that can be as high as 10% per transaction.
Solution 2: Tight Spreads and Low Trading Fees
Through smart contracts, in-game items can be tokenized and traded directly P2P without any need for buyers and sellers to trust each other. With this, the need to pay high trading fee and commission to the intermediary is eliminated and fees can be kept to a minimum.
Problem 3: Low Liquidity
Liquidity is spread across multiple third party brokers resulting in low liquidity and poor price discovery. Bid/Ask spread for items are large and result in immediate loss of value due to spreads upon purchase or sale.
Solution 3: Automated Market Makers and Pooled Liquidity
Through the use of liquidity pools by tokenizing idle in-game items, market participants can interact directly with the automated market maker to have high availability for liquidity to ensure that trading can be conduct with high liquidity.
Features
Built on Polkadot as a Parachain
Developed using Substrate Core, TriumphX leverages on Polkadot relay chain to achieve interoperability across different blockchains to ensure compatibility of all tokenized in-game items that are integrated with blockchain
Decentralised Governance Structure
TRIX token holders are able to vote and elect council members who will make all decisions concerning the platform. Council members are incentivized to maximize network value through staking of TRIX tokens and to act in the best interest of all token holders.
TriumphX Smart Contract Extension
Extended functions are required to use smart contracts on the blockchain for contracts of real-world service. TriumphX provides TSCE (TriumphX Smart Contract Extension), which adds TriumphX's own extension to the existing Substrate API.
Kabocha Protocol
Kabocha is a decentralized protocol that can be easily extended and connected to enable effortless creation of decentralized apps (DApps). The protocol is managed by TSCE and APIs. It is designed as an open-sourced for anyone to use.
TRIX Wallet
A dedicated wallet is required to obtain TDI and can be used to convenient store in-game items in the wallet which can be accessed directly from the games. TRIX Wallets are protected with the highest level of security in the blockchain technology. The source code of the wallet will be released as an open source and will be continuously audited to enhance security.
Public Database on NFTs
NFTs can be aggregated under subsets of items. As such, the TriumphX Explorer is able to group these items together to state useful statistics such as the total number of items tokenized and in existence on the blockchain, the total historical traded price of such items, the number of items owned by each user to identify if there is hoarding of items and more.
Important Partners
Ekkorr
EKKORR has designed several successful games such as Endless Frontier with more than 30million downloads, and Metal Slug Infinity with more than a million downloads. Through this partnership, EKKORR will be creating more games that are integrated directly into TriumphX's blockchain
Korea Mobile Game Association
Korea Mobile Game Association is a representative association of Korea’s largest game development member companies with about 800 member companies, including Xiaomi, GPC, One Store, Busan Information Industry Promotion Agency, etc. They seek to promote the creation of blockchain based games
The Korea Blockchain Content Association
The Korea Blockchain Content Association works to promote the development and advancement of blockchain software in Korea. They seek to cooperate with TriumphX to successfully launch a decentralised P2P trading exchange for in-game items.
Available exchanges
1. Coinone
coinone.co.kr/exchange/trade/trix/
2. Latoken
latoken.com/exchange/USDT_TRIX
3. Bithumb Global
bithumb.pro/en-us/spot/trade?q=TRIX-USDT
4. MXC.com
mxc.com/trade/easy#TRIX_USDT
https://www.reddit.com/r/TriumphX
TRIX is currently on a global expansion, not to be just abided in Korean market. To get more information, discuss and to help TRIX to be listed on major global exchanges, please join Reddit community!
TriumphX (TRIX) – Cryptocurrency for gamers, by gamers, crypto related to games like metal slug
TriumphX (TRIX) is a decentralised exchange & cryptocurrency for in-game items interoperable across blockchains through Polkadot.
Why TriumphX?
50 Billion USD worth of in-games items is expected to be traded on secondary markets annually, but growth of market is held back to due inefficiencies in the market.
Problem 1: Inefficient Markets
There is no official marketplace for most games, resulting in multiple third party service providers creates a fragmented markets. Game providers are reluctant to create a official market for users due to AML/KYC concerns.
Solution 1: Aligned Interest Among Market Participants
Game providers receive a share of economic profits obtained from the trading of in-game items and TriumphX Digital Identity Service eliminates any AML/KYC concerns.
Problem 2: High Fees
For P2P trading of in-game items, users are unable to trust each other due to lack of official feature to conduct a trade with real money. This often results in reliance on costly third party custodial service providers that charges commissions that can be as high as 10% per transaction.
Solution 2: Tight Spreads and Low Trading Fees
Through smart contracts, in-game items can be tokenized and traded directly P2P without any need for buyers and sellers to trust each other. With this, the need to pay high trading fee and commission to the intermediary is eliminated and fees can be kept to a minimum.
Problem 3: Low Liquidity
Liquidity is spread across multiple third party brokers resulting in low liquidity and poor price discovery. Bid/Ask spread for items are large and result in immediate loss of value due to spreads upon purchase or sale.
Solution 3: Automated Market Makers and Pooled Liquidity
Through the use of liquidity pools by tokenizing idle in-game items, market participants can interact directly with the automated market maker to have high availability for liquidity to ensure that trading can be conduct with high liquidity.
Features
Built on Polkadot as a Parachain
Developed using Substrate Core, TriumphX leverages on Polkadot relay chain to achieve interoperability across different blockchains to ensure compatibility of all tokenized in-game items that are integrated with blockchain
Decentralised Governance Structure
TRIX token holders are able to vote and elect council members who will make all decisions concerning the platform. Council members are incentivized to maximize network value through staking of TRIX tokens and to act in the best interest of all token holders.
TriumphX Smart Contract Extension
Extended functions are required to use smart contracts on the blockchain for contracts of real-world service. TriumphX provides TSCE (TriumphX Smart Contract Extension), which adds TriumphX's own extension to the existing Substrate API.
Kabocha Protocol
Kabocha is a decentralized protocol that can be easily extended and connected to enable effortless creation of decentralized apps (DApps). The protocol is managed by TSCE and APIs. It is designed as an open-sourced for anyone to use.
TRIX Wallet
A dedicated wallet is required to obtain TDI and can be used to convenient store in-game items in the wallet which can be accessed directly from the games. TRIX Wallets are protected with the highest level of security in the blockchain technology. The source code of the wallet will be released as an open source and will be continuously audited to enhance security.
Public Database on NFTs
NFTs can be aggregated under subsets of items. As such, the TriumphX Explorer is able to group these items together to state useful statistics such as the total number of items tokenized and in existence on the blockchain, the total historical traded price of such items, the number of items owned by each user to identify if there is hoarding of items and more.
Important Partners
Ekkorr
EKKORR has designed several successful games such as Endless Frontier with more than 30million downloads, and Metal Slug Infinity with more than a million downloads. Through this partnership, EKKORR will be creating more games that are integrated directly into TriumphX's blockchain
Korea Mobile Game Association
Korea Mobile Game Association is a representative association of Korea’s largest game development member companies with about 800 member companies, including Xiaomi, GPC, One Store, Busan Information Industry Promotion Agency, etc. They seek to promote the creation of blockchain based games
The Korea Blockchain Content Association
The Korea Blockchain Content Association works to promote the development and advancement of blockchain software in Korea. They seek to cooperate with TriumphX to successfully launch a decentralised P2P trading exchange for in-game items.
Available exchanges
1. Coinone
coinone.co.kr/exchange/trade/trix/
2. Latoken
latoken.com/exchange/USDT_TRIX
3. Bithumb Global
bithumb.pro/en-us/spot/trade?q=TRIX-USDT
4. MXC.com
mxc.com/trade/easy#TRIX_USDT
https://www.reddit.com/r/TriumphX
TRIX is currently on a global expansion, not to be just abided in Korean market. To get more information, discuss and to help TRIX to be listed on major global exchanges, please join Reddit community!