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It is crucial to exercise caution when engaging with the services offered by this project. EOS Support does not assume responsibility for any potential problems, damages, or losses that may occur as a result of utilizing the services provided by this project.
About Totoro Finance
Totoro Finance is a Decentralized Finance (DeFi) product built on the EOS Blockchain. It operates as a public platform, accessible to anyone who connects their wallet without the need for registration to initiate their first trade. Totoro Finance offers swap as well as liquidity products. The software of Totoro Finance is open source and maintained on GitHub.
How to Use Totoro Finance
Utilizing Totoro Finance does not necessitate any registration. As illustrated in Figure 1, you need to connect your preferred wallet to access the various products available on the platform. On the successful connection of your wallet, your account name is displayed in the top right corner.
Figure 1: Connect wallet to avail products
Note:
Click on Connect Wallet button, select your preferred wallet, and sign the transaction.
Products offered by Totoro Finance
As shown in Figure 2, the following DeFi products are available at Totoro Finance:
Swap tokens
Add liquidity and earn crypto
Perform cross-chain transactions
Create an account on EOS Mainnet.
Figure 2: Products offered by Totoro Finance
How to Swap Tokens
After successfully connecting your wallet, click the swap button to convert one token to another. Figure 3 shows the process of swapping the EOS token for the USDT token.
Figure 3: Swap Tokens
Procedure:
Choose the token to be converted. In this case, it is EOS.
Enter the number of tokens to be converted. Please enter up to 4 significant digits after the decimal. In this case, it is 10.0000. The balance of your wallet should be more than the amount.
Select the destination currency. In this case, it is USDT.
Amount of destination currency, we will receive. In this case, it is 10.1903.
Price of the token. In this case, 1 EOS = 1.01903485 USDT.
Allowable slippage, which is adjustable. In this case, it is kept at 0.3%.
Click on the Swap button to complete the transaction.
How to add Liquidity
Adding a liquidity feature is very important for the success of any cryptocurrency. Totoro Finance offers it using many pair of tokens. Figure 4 depicts the procedure for adding a liquidity feature.
Figure 4: Add Liquidity feature
Procedure:
Select the first token. In this case, it is EOS.
Enter the amount of the first token you want to add to the liquidity pool. The balance of your wallet should be more than this amount.
Select the second token. In this case, it is USDT.
The amount of the second token is to be added to the liquidity pool. The balance of your wallet should be more than this amount.
Click on Add Liquidity button to execute the transaction.
Transfer from EVM to EOS
In addition, Totoro Finance offers cross-chain transaction capabilities. I will now demonstrate how to transfer tokens from the Ethereum Virtual Machine (EVM) to the EOS blockchain. To perform this transaction, you will need to connect to the Metahub Wallet. However, it is important to note that this feature should not be used to transfer tokens from the EVM to a centralized exchange like Binance.
Figure 5: Transfer a token from EVM to EOS.
Procedure:
Select the contract address of the token.
Enter receiver EOS account.
Enter the number of tokens to be transferred.
Enter memo if any.
Click on the Transfer button to initiate the transaction.
Development Plan
The source code of the project is actively maintained on GitHub. As outlined in the Pomelo pitch, the forthcoming enhancements to this DeFi project will include:
Mining pool feature and
Lending feature
Donate to Totoro Finance
Kindly visit the Pomelo page of Totoro Finance to donate to this DeFi project. Direct donations can be sent to the EOS account raise.ttr. The project is among the affiliated projects of EOS respect.
Author: Sukanta Manna
Editor: Markus Hinrichs, Randall Roland
Sources & References
Image credits:
Sukanta Manna