Skip to main content

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...
Post a Comment

New DeFi ‘passport’ could enable under-collateralized crypto loans

Arcx has launched a new version of its “DeFi Passport,” Sapphire, promising the pseudonymous on-chain credit check will enable new decentralized finance products.

Decentralized finance (DeFi) protocol Arcx has announced the launch of Sapphire v3, a DeFi passport allowing crypto users to pseudonymously build and verify their reputation on-chain.

Announced June 2, the DeFi passport will score users on a scale between 0 and 1,000, with Arcx advancing that the passport “incentivizes reputation-building and curates on-chain identity into DeFi.”

In the absence of a DeFi passport, Arcx asserts that “protocols are left to treat every user the same, occasionally giving preferential consideration to wallet size, institutional backing, or restrictive KYC.”

Arcx expects its passport will be integrated onto many DeFi protocols, predicting Sapphire will allow projects to offer “low-collateral loans and high-yield farms” targeting users with high credit scores. As such, Arcx’s passport could facilitate growth in the emerging sector of DeFi-powered under-collateralized loans.

Speaking to Cointelegraph, the CEO and co-founder of institutional under-collateralized loan protocol Maple Finance, Sidney Powell, commented that “Arcx’s passport will help bring under-collateralized loans closer for retail DeFi users.”

Although Powell stated “there is no doubt that stickier reputations and identities would be positive for retail under-collateralized loans,” he speculates that the use of zero-knowledge proofs could bolster the passport’s adoption “by encouraging users to share off-chain information about themselves in the confidence that they maintain confidentiality.”

Powell added that the Sapphire passport should consider a loan’s “affordability,” stating:

“An address may have had a great record of repaying $10K loans on Compound, but how creditworthy would they be on a $250K loan? This is something Arcx can address over time with more data.” 

Looking forward, Arcx hopes to evaluate individual scores for a range of criteria, including their “Airdrop Score” and “Yield Farming Score” — which estimate the likelihood of an address holding onto airdropped or farms tokens over the longer term, and a “Governance Score’ that assesses whether an address is likely to participate in on-chain governance.

The protocol also aims to provide “Trader Scores” intended to ascertain whether a user is employing bots to execute trades, with Arcx suggesting DEXes could offer reduced trade fees to addresses verified not to be using bots.

Arcx also revealed it recently raised $1.3 million from top crypto investors including Dragonfly Capital and Scalar Capital, bringing its total sum raised to $8.2 million. Tom Schmidt of Dragonfly Capital stated:

“DeFi today is like the Wild West. People can walk up to any random protocol, front-run users, rack up a bunch of bad system debt, and bounce over to the next town. If we’re going to build a new global financial system, we’re going to need something better than the pseudonymous systems we have today.”
https://ift.tt/3wU4Hzq
Labels:

Comments

Post a Comment

Popular posts from this blog

Blockchain Software Firm Consensys Acquires Mycrypto Ethereum Wallet

On February 1, the blockchain infrastructure firm Consensys has revealed it has acquired the Ethereum-based wallet Mycrypto and plans to merge the wallet into Metamask. The price Consensys paid for Mycrypto was not disclosed but the announcement notes that the acquisition will “further improve the security of all the products.” Consensys Obtains Mycrypto Ethereum Wallet, Plans to Merge With Metamask in the Future Consensys has acquired the Ethereum-based wallet Mycrypto for an undisclosed sum according to an announcement released on Tuesday. The deal aims to strengthen the company’s Ethereum wallet Metamask and “enhance Web3 experiences.” The eventual merger between the two Ethereum interfaces will “provide users with a heightened experience that is even more extensive and secure,” according to Consensys. Consensys is an Ethereum software company led by one of the Ethereum co-founders Joseph Lubin. The Web3 wallet Metamask, with 21 million monthly active users (MAUs) is owned by C...
Post a Comment
Read more

Earn up to 50% APY by Staking $GLQ on GraphLinq App

PRESS RELEASE. The newest utility token to offer staking to its users/holders is GraphLinq Protocol’s $GLQ. As of this article, $GLQ has 4,500+ holders according to etherscan, excluding GLQ holders on CEX like Kucoin, MXC, Gate. This is a great step for the future of the project as it will further incentivize more users to hold. Explore more about GraphLinq, its staking mechanism & steps to stake. What Is GraphLinq? GraphLinq – The No Code protocol for automating actions on-chain & off-chain, launched in just March 2021, has come a long way bringing users in the crypto space a never seen model of integrating blockchain automation on any blockchain-related/non-related task. The goal of the GraphLinq protocol is to allow users to interact blockchains with any connected system as effortlessly as possible without any prior knowledge of coding. GraphLinq ecosystem currently consists of an engine, an integrated development environment ( IDE ) & an app to provide automated...
Post a Comment
Read more

The Congolese Mountain of Gold: Surprise Discovery in Africa Shows Metal’s Scarcity Is Hard to Prove

A myriad of gold bugs like to compliment the yellow precious metal for its ostensible scarcity, as estimates say only 2,500 to 3,000 tons of new gold is produced annually. While new gold discoveries have seemingly slowed, investigative studies also show that in some areas, gold is being smuggled into the economy by the ton, and often never accounted for as far as per annum issuance estimates. Recently, reports show a whole mountain of gold was discovered in the Congo, as the Democratic Republic of the Congo is well known for being a region that sees tons of smuggled gold filtered into the global financial system unreported. Surprise Gold Deposits Continue to Crack the Precious Metal’s Scarcity Proposition It has always been said that the precious metal gold (Au) is scarce, and some reports even say that gold mining on earth will end by the year 2050 . Additionally, estimates also show that there’s roughly 2,500 to 3,000 tons of new gold that is accounted for and enters into the fin...
Post a Comment
Read more