- Summary:
- Turbos Finance hopes to leverage the high throughput, and low latency on the SUI network, as well as boosting liquidity.
The Sui Network-based spot and derivatives trading exchange Turbos Finance has released a Permanent Testnet deployment on the Sui public testnet. By providing a permanent test environment, Turbo can assess performance in the Sui Network UX, explore the platform’s unique features and incorporate valuable user feedback for future product development. The Sui Network is scheduled to be live on May 3, 2023, thus, this major development couldn’t have happened at a better moment.
Together with Mysten Labs and Jump Crypto, Turbos Finance plans to pioneer the deployment of a network-wide concentrated liquidity platform. Mysten Labs is behind the proof of stake blockchain SUI and is built on the MOVE programming language. Sui is a next-generation smart contract platform with high throughput and asset-oriented programming language. The testnet will enable trading in SUI, BTC, ETH, and USDC. Also, this will facilitate liquidity provision on Turbos Finance. These tokens will also be available on the mainnet.
Ted Co-founder and CEO of Turbos Finance said: “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.”
The testnet decentralised application (dApp) demonstrates the benefits of Turbos Finance’s Concentrated Liquidity Market Maker (CLMM) concept and is available to all users. CLMM allows for the concentration of liquidity around a user-specified price range on the platform, enabling greater fee collection with a given amount of capital. The strategy provides significantly higher liquidity than conventional marketplaces.
Also, testnet users can link their wallets, purchase testnet tokens, and learn how to use decentralised applications with the help of a detailed tutorial. Turbos Finance is encouraging users to join their Discord server and submit input on the testnet in the testnet feedback channel.