Turbos Finance, a non-custodial decentralized exchange (DEX) that facilitates spot and derivatives trading on the Sui Network, has today launched a Permanent Testnet deployment on the public testnet of Sui. This development is a noteworthy stride, especially considering that the Sui Network is scheduled to be launched on May 3, 2023.
With the assistance of Mysten Labs, which is the key contributor of technology to the Sui Network, and Jump Crypto, Turbos Finance is working toward the goal of being one of the first protocols to launch a functional concentrated liquidity platform on the Sui Network.
The Permanent Testnet provides users with the opportunity to become acquainted with the distinctive features of the platform as well as the Sui Network UX, all while providing feedback that may be used for enhancements to the product. The testnet decentralized application (dApp), which anybody may use, demonstrates the benefits of the concentrated liquidity market maker (CLMM) approach that Turbos Finance employs.
The Next Step in Sui Mainnet Preparation
The platform offers customers the ability to set up unique ranges within which to supply liquidity. This concentrates the liquidity around a chosen price range, allowing users to collect a higher portion of the fees while using a smaller amount of funds. In comparison to more conventional platforms based on the xy=k invariant, this method provides significantly higher levels of liquidity.
You may access the testnet at app.turbos.finance. It permits trading and provides liquidity for testnet SUI, BTC, ETH, and USDC tokens, all of which will also be accessible on the mainnet. Users get access to a complete tutorial that will walk them through the testnet experience from start to finish.
The tutorial covers topics such as wallet connectivity, testnet token funding, and dApp navigation. Users who wish to offer their input on the testnet can do so by joining the Turbos Finance Discord server and submitting their observations in the testnet-feedback channel.
Ted, Co-founder and CEO of Turbos Finance, said: “We’re almost ready for our mainnet launch, with the Permanent Testnet launch being the last stage. This is perfect timing as Sui launches in early May, and we expect to be there almost immediately. Through the strategic partnership with Mysten Labs and Jump Crypto, we expect a smooth launch on the Sui mainnet very soon.”
Built on top of the Sui Network and supported by Mysten Labs and Jump Crypto, Turbos Finance is a non-custodial liquidity layer that serves as a DEX for everyone. Turbos Finance provides a composable automated market maker (AMM) decentralized exchange that is both efficient and effective. Additionally, it features the Concentrated Liquidity Market Maker (CLMM) model and features for trading derivatives.
