After five months in existence and many innovative products built, Torii Finance had an immensely successful launch of their ecosystem/governance token, TORII, which saw a meteoric rise on PancakeSwap and Bitmart within minutes of their initial public listing, skyrocketing north of 600% from $80 to over $700.
Having gained considerable exposure on the global stage, Torii Finance is being dubbed the Yearn Finance/YFI of Binance Smart Chain. While they have big shoes to fill, the team has made a choice to focus their goals toward ecosystem health over and above their technology proficiencies. This takes them out of the “hardcore developer” category and places them in a category on their own where decisions become community-centric, not only growth-centric — while still extremely adamant in proving their capabilities through their nextgen staking architecture on TORII.fi.
In light of their focus on ecosystem health, their promise to the community has been to continue delivering innovative products and ensuring that the growth of the network is top-of-mind, regardless of technical or developmental complexities, or unforeseen circumstances that may arise — by virtue of a new decentralized economy.
“We see time and again that projects in this space neglect their position as protectors and defenders of their community, due to the need to not slip-up and impress through technology rather than follow a realistic approach to implementation; where the unforeseen happen, and should be acted on conscientiously, with the community in mind, but also with absolute transparently to assure the community that their bests interests are our priority.” Torii Finance, DAO maintainer.
However, after hours of the successful public launch, the Torii Finance team identified a network of external trading bots attempting to front-run the ecosystem’s trading network. These bots, according to the team, are designed to front-run trading patterns and eat into the profits and growth of a token’s economy.
Torii Finance has explained Front-running bots here: https://toriifinance.medium.com/pesky-bots-we-see-you-b3ab6ebbc630
While this is not a security concern or technology problem, it hampers the growth of the token’s price and disables the ability of the token’s market to climb to new heights. This is a community and ecosystem challenge, and Torii Finance’s team of engineers have banded together to live up to their promises and provide a solid and timely solution, which they are currently carrying out.
See their solution here: https://toriifinance.medium.com/torii-finance-defender-of-the-community-fc2ebfa02587
Many projects have done this in the past for various reasons, so it is not a new methodology. However, Torii Finance has made it their goal to ensure that all stakeholders are aligned and understand how this action will positively affect them and the token price.
This move by the team, although it may seem big, is the only way to solve the bot problem once and for all, which is set to take the ecosystem to new heights. Many would say that acting fast with important decisions like this is the only way to continue gaining momentum. Torii Finance is showing this while working closely and transparently with their communities to assure them of the process, and ensure that everyone is kept up-to-date on the chosen direction to combat this challenge without delay.
Their goal is to enable the recovery and continued growth of the value of TORII in the network, and with the trust of many thousands of community members behind them, they are sure that they will be able to do so.
About Torii Finance
Founded in 2021, Torii Finance is a next-generation decentralized finance (DeFi) company with a focus on building community-oriented financial mechanisms and protocols to enable yield management and optimization for the masses, as well as consensus or community-driven governance to enable a decentralized autonomous environment.
For more information about Torii, please visit its website.