LiraT $TRYT

LiraT (TRYT) is a secure and efficient cryptocurrency launched in November 2022. As an asset-backed token, it is redeemable at a 1:1 ratio for 1 Turkish lira. It is issued by Token Teknoloji Anonim Şirketi and fully backed by Turkish lira on the blockchain. This token provides global users with a cost-effective solution for 24/7 transactions and transfers, unrestricted by geographical boundaries or transaction limits. TRYT operates on the Avalanche C-Chain and Polygon blockchain and is compatible with all blockchain wallets that support EVM.

About LiraT

TRYT is an asset-backed token with each unit representing 1 Turkish lira on the blockchain. This model ensures that for every TRYT created, an equivalent amount of Turkish lira is held as collateral in the reserves of Token Teknoloji Anonim Şirketi. This setup provides assurance to users by maintaining a 1:1 ratio and indexing the token's price to the Turkish lira. This also makes it different from the fiat Turkish lira transaction limits in the market as there are no minimum transaction limits for TRYT.

Transactions and Accessibility

TRYT transactions are completed instantaneously and can be converted directly into fiat currencies, providing users with a fast and efficient transaction mechanism. Not being restricted by traditional banking hours or transfer limitations, TRYT allows users to have high accessibility to their funds 24/7, irrespective of their geographical location.

Blockchain Technology

TRYT is built on the Avalanche C-Chain and Polygon blockchain, making it compatible with all blockchain wallets that support Ethereum Virtual Machine (EVM). It also utilizes smart contracts to manage the collateralization process automatically.

Maintaining Supply and Demand Balance

As demand for TRYT increases, Token Teknoloji Anonim Şirketi commits to add an equivalent amount of Turkish lira to its reserves for each TRYT token. This keeps the market in balance between supply and demand, ensuring that the 1:1 ratio between Turkish lira and TRYT is always maintained.

Burn Mechanism

Furthermore, a coin burn function is incorporated into the blockchain's smart contract, allowing the removal of a predetermined amount of TRYT tokens from