Aurora is an EVM chain on NEAR. It makes it possible for developers to deploy projects in Ethereum on NEAR without changing the structure too much. Aurora’s development is expected to drive Near’s growth in the near future. Recently, the first project in the DEX puzzle on Aurora, which name is Trisolaris, appeared. This report will provide information about Trisolaris and TRI token to those who are interested.
What is Trisolaris?
Trisolaris is a decentralized exchange (DEX) built on the Aurora engine, an EVM-compatible blockchain running in the NEAR ecosystem. It provides a high-speed trading platform with much lower transaction fees than Ethereum. In addition, Trisolaris takes advantage of NEAR and hence it provides a great trading platform for users. It is easy for users to interact with the platform without having to go through any Bridge project.
What are the features of Trisolaris?
There are some features making a difference for Trisolaris:
- Acting as a bridge: Not only Trisolaris does more than just act as a mere DEX but also integrates the Bridge of Ethereum, Near, Terra, BSC, Polygon, and Avalanche. This allows users to participate on Trisolaris to easily interact with other networks without any Bridge.
- Integrating many popular tools: It uses ETH as a gas fee, as well as allows the use of other familiar tools on Ethereum such as Metamask, Wallet Connect, Etherscan, etc. Therefore, you do not need to learn how to use other tools. It makes Trisolaris more accessible to users.
- Ability to provide liquidity and swap any ERC20
- High-speed trading and negligible fees: users will experience Swap with extremely cheap transaction fees, and extremely fast speeds because of Near’s technologies on Aurora.
- A simple and intuitive UI.
What is the TRI Token?
- Token Name: Trisolaris.
- Ticker: TRI.
- Blockchain: Near.
- Standard: ERC20
- Token contract: 0xFa94348467f64D5A457F75F8bc40495D33c65aBB
- Token Type: Utility, Governance.
- Total Supply: 500,000,000 TRI.
- Circulating Supply: 24.858.199
- 70% Community + Liquidity Incentives
- 15% Treasury: For future strategic partnerships, investors, and more
- 15% Current & Future Team: 4-month lockup, followed by 12-month vesting
Currently, TRI is used in two ways:
- As a means to earn enhanced yields in the TRI-based farms
- Exposure to yields via growth in trading fees of the Trisolaris DEX via staked TRI (xTRI). This is especially relevant now as the overall Near and Aurora ecosystem is in a rapid growth stage.
Similarly, some elements such as a third major element, vote locking and rewards boosting will be introduced as a dynamic. This is similar to the veCurve (or voting escrow Curve) gauge-based tokenomic model, which is extremely success.
Token Release Schedule
Here is a chart that provides a full view of the overall TRI supply distribution and how it comes into circulation:
How to get TRI token?
Join the Liquidity Mining program to receive TRI with pairs:
- $wNEAR – $ETH.
- $wNEAR – $USDC.
- $USDC – $USDT.
- $wNEAR – $WBTC.
- $TRI – $wNEAR.
- $wNEAR – $USDT.
The Trisolaris ‘s storage wallet is NEAR Wallet.
The project follows the following route:
- Add more recommended pairs, including $AURORA, $REF, etc.
- Introduce x2 bonus for pairs. Users will be able to earn both $TRI and $wNEAR.
- Introducing Staking single-sided TRI Token.
- Improved experience for new projects to incentivize and launch pools on Trisolaris
- Improved user experience for traders with better and more granular data/analytics, more fun, and intuitive UX, and better tools for portfolio tracking and management
- Integrations & Partnerships with other protocols to boost the existing utility of TRI. Specifically, TRI LP tokens and TRI/xTRI are used as collateral for lending in stablecoin platforms
Rest of Q1 and early Q2 2022
- Governance Infrastructure build out on Aurora
- Launch of vexTRI: Users will be able to trade vexTRI for the ability to lock their TRI or xTRI for various time frames. Users will be able to vote in Trisolaris governance through the locked vexTRI
- Launch of Stableswap Dex: This will serve as an additional source of revenue for the protocol
Team, Partner, and Backer
Trisolaris is operated and developed by Oxdon – Core Developer.
Trisolaris announced a partnership with major investment fund Dragonfly Capital and hence it looks forward to continuing to build a seamless DeFi experience on top of Aurora and the broader NEAR ecosystem.
Trisolaris received large funding from Near Protocol and it is the first project to receive funding from Proximity with $350 million.
The potential of Trisolaris
Trisolaris allows users to experience seamless transactions similar to Ethereum but with extremely low fees. Besides, the project is also working to integrate and cooperate with other protocols to increase the use case of its token.
The Trisolaris project is suitable for investors who have a long-term vision and are interested in investing in DEX exchanges. Also, as crypto grows, the DEX becomes more and more important with the main purpose of the project and product being the benefit of the community. During the period of Q1 & Q2 2022, Trisolaris has concretized the goals set in the funding round by deploying liquidity pools when cooperating with reputable projects on the system, as well as receiving opinions from the community. It is easy to see that Trisolaris is working hard to develop its project. Furthermore, Trisolaris’ TVL also accounts for more than 20% of the total TVL Coin of the Aurora ecosystem.
During the downtrend period, Trisolaris was still active both on GitHub and on community channels. It proves that the team is working with a long-term vision, or at least still has enough funding to maintain operations during the downtrend period.
Trisolaris is a one-stop trading platform for the NEAR and runs on NEAR’s Aurora. It is the first DEX on Aurora and in the top 2 DEX projects on Aurora and NEAR. Trisolaris enable a seamless trading experience similar to Ethereum at a fraction of the cost and takes advantage of the excellent underlying architecture. Trisolaris ‘s team uses capital from investment funds quite effectively evidenced by most of the goals set out have been implemented in reality and brought many positive signals to users.