Timvi - 1By1
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1By1

The service allows to execute an exchange of Ethereum (ETH) to Timvi (TMV) at the system's internal exchange rate. The commission for the transaction is charged in TMV in the amount from 0 to 10%. By default the commission equals 0,5%.

The user receives TMV immediately without the need to think of the safety of his/her TBox collateral. It is more convenient than creating a new TBox if the goal is to receive stable coins.

The exchange procedure is executed in three steps:
  • Exchange request generation;
  • Matching (finding a counterparty);
  • The exchange itself.

The chosen counterparty provides the amount of ETH requested in order to lock them in a TBox and withdraw TMV. The counterparty receives the request generator’s ETH and the request generator receives TMV. Also, the counterparty becomes the owner of the TBox account newly generated during a transaction.

The counterparty is another user of the service

Example:

Mike uses the 1by1 operation to exchange ETH for TMV and does not look after his TBox collateral. The exchange is performed in a one-to-one ratio. The service charges a fee for the transaction.