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...
Researchers from Stanford University and U.C. Berkeley contributed to the development of the crypto-asset lending platform.
Decentralized lending protocol Pledge has secured $3 million in investments for its cross-chain ecosystem focused on long-term financing, highlighting the continued innovation in the DeFi sector.
The investment round was led by DHVC, a Palo Alto-based venture capital firm, with additional participation from U.C. Berkeley professor Gary LaBlanc and Stanford University community members Ray Wong and Torsten Wendl. The raise will aid Pledge in its mission to become a premier crypto-asset lending platform that eventually paves the way for tokenized real-world financial assets.
Pledge was created by a group of blockchain-focused researchers at Stanford University, including professor David Tse, Nicole Chang, Ray Wong and Torsten Wendl. Aforementioned professor Gary LaBlanc also contributed to the protocol.
Utilizing Binance Smart Chain, Pledge aims to facilitate long-term financing for crypto holders, something the researchers say has yet to be addressed in the industry. The protocol achieves this goal by allowing users to diversify their portfolios with non-crypto assets without being exposed to interest-rate volatility.
The protocol is powered by Pledge Tokens, or PLGR, which have a total supply of 3 billion. No market data is currently available for PLGR.
DeFi lending markets have exploded in popularity this year, attracting an influx of new users on the promise of higher yields and increased access to new markets. While Aave dominates the DeFi lending market, several protocols have launched over the past year, each one providing its own value proposition.
Related: DeFi attracts 2.91M Ethereum addresses, according to ConsenSys
Currently, just under $44 billion in total value has been locked into DeFi lending markets, according to industry data. That accounts for just over half of the total DeFi market.
DeFi’s growth has attracted unwanted attention from regulators who are growing more concerned about investor protections and whether certain assets fall under federal security laws. As Cointelegraph recently reported, the United States Securities and Exchange Commission has warned cryptocurrency exchange Coinbase that its proposed yield program violates securities laws.
Related: SEC vs. Coinbase: Alex Mashinsky says Celsius will have to ‘wait and see’ on fallout
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