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MLB Team Washington Nationals Partners With Terra Blockchain Community, Ballpark Plans to Accept UST

On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
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LuaSwap using TomoChain for backend transactions

Automated token exchanger LuaSwap is cutting costs by employing a second-layer alternative to transacting on the heavily crowded Ethereum mainnet.

The number of projects adopting layer-two solutions for Ethereum’s scaling woes is increasing, with LuaSwap rolling out a new, TomoChain-based exchange engine yesterday.

The change will enable the Uniswap inspired exchange to perform token swaps with greater speed and efficiency than many rival Automated Market Maker ERC-20 exchanges.

While LuaSwap remains an Ethereum-based application, transactions related to conversion processes are now performed using the TomoChain blockchain, instead of Ethereum.

TomoChain employs block lengths of two seconds, and boasts transaction fees that are considerably cheaper than Ethereum's mainnet. As such, swaps that might normally cost $10 or $20 on Ethereum can be executed for just a few cents on TomoChain.

A newly launched TomoBridge makes it possible to transfer any two assets between the Ethereum and TomoChain blockchains by wrapping tokens. The process leverages a recent upgrade to TomoChain, which allows any ERC-20 token to be wrapped and imported to TomoChain as a TRC-21 token.

At present, transaction fees on LuaSwap are often higher than gas fees on Uniswap due to a lack of liquidity for tokens on the TomoChain side of the bridge. However, said problem is expected to be resolved when a sufficient number of liquidity providers have created LuaSwap pools on TomoChain.

TomoChain is just one of a number of layer-two solutions, including Matic and Optimism that aim to help to resolve Ethereum’s scaling issues.

On Jan. 19, TomoChain announced a partnership with Ramp DeFi to provide unique trading opportunities made possible by recent developments in blockchain interoperability.

In Nov. 2020, TomoChain chief business development officer Kyn Chaturvedi told Cointelegraph he believes crypto traders are on a one-way march from centralized to decentralized exchanges, noting that the “trustless, anonymous, easy access nature that comes with DEXs/DeFi” cannot be beaten by traditional exchanges.

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