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Tinyman protocol, platform and core principles |
Tinyman is a decentralized application developed to empower all web3 users, regardless of their background. It takes inspiration from the principles of transparency, open source development, decentralization, autonomy, and permissionless access that are central to creating public blockchains. With these values at its core, Tinyman aims to promote the use of these principles in the web3 space to create a more inclusive and transparent financial system.\
Tinyman consists of two main components: Tinyman protocol and Tinyman platform.
Tinyman Protocol is a smart contract set that operates as an Automated Market-Maker on the Algorand blockchain.
Tinyman Platform is the web interface that enables users to interact with the Tinyman protocol through the tinyman.org domain.
Tinyman is a non-custodian decentralized exchange on Algorand that works with the Automated Market Maker(AMM) approach, specifically with the Constant Product Formula. This model is considered more suitable for trading on blockchain thanks to its capability to provide liquidity at all times. To read more about the differences between AMM and the order book mode, please refer to LINK.
Tinyman AMM v2 protocol was developed and deployed by the Tinyman team on the Algorand blockchain.
Tinyman contracts are written in Tealish for AVM V7.
The Tinyman development team chose Algorand as the foundation for their project due to its compatibility with Tinyman's values and advanced technological capabilities. Algorand's commitment to scalability, security, and decentralization, as well as its ability to handle a high volume of transactions efficiently, made it an ideal choice for the team.
Facilitating on-chain interactions for Tinyman users, the Tinyman platform is comprised of a web app that runs on tinyman.org domain and its additional tools such as:
- Tinyman protocol
- SDKs
- Widgets
- Tealish
- ASA icons platform on asa-list.tinyman.org
- Social Media Channels
All components of the Tinyman platform are managed by the Tinyman team.
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The design of the Tinyman AMM v2 protocol is based on the following principles:
Open-source: The Tinyman AMM v2 protocol is open-source, meaning that the entire codebase is available for review by anyone interested in trading on or adding funds to the protocol. This transparency allows all users to validate the operating system, whether they are interacting directly with the smart contracts or using the Tinyman platform. We encourage all users to review the codebase and related documents to ensure complete understanding and confidence in the system.
Decentralized: Decentralization is a core principle of Tinyman. The platform has no control over the funds that users add and cannot access any of the assets in pools. All assets are held in the contracts deployed on the decentralized Algorand blockchain, ensuring that the system is fully decentralized and not subject to the control of any single entity.
Permissionless: Core Tinyman functionalities can be initiated by any Algorand address, granted the contract's task requirements are met. During any stage of these operations, no Algorand address or entity, including Tinyman itself, can disable access or revert transactions.
Immutable: Tinyman protocols, rules, and parameters are fixed and cannot be modified once deployed on the blockchain. The use of immutability in Tinyman helps to ensure the integrity and security of the system, as it prevents any unauthorized changes or tampering with the system's functioning.