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

OlympusDAO developer launches protocol enabling one-to-one stablecoin swaps

Developer 'Ohmzeus' has launched a new protocol allowing stablecoins to swapped at fixed price of exactly one-to-one.

A developer working on DeFi darling OlympusDAO has launched a new protocol that seeks to facilitate stablecoin swaps without price curves.

On Oct. 26, OlympusDAO developer “Ohmzeus” announced they had launched an experimental project dubbed Range comprising decentralized stablecoin pools that do not use a price curve. The programmer described Range as an “optimistic stablecoin swap protocol” designed to “abandon a pricing curve altogether.”

The protocol uses “Range Pools,” which assume both of the tokens in a pool are worth an equal value. There are currently six live pools for DAI, LUSD, FRAX, USDC, USDT, and MIM, though the developer has emphasized that they are unaudited and users should not deposit more than they can afford to lose.

On Discord, they noted deposits to the USDC/USDT pool have been suspended due to a decimal place error.

Tokens trade within a pre-defined range in the protocol. In the example of a Range 20/70 pool in which DAI is one of the pairings, Ohmzeus stated that as the range for the stablecoin in the first pool is set to 20% to 70%, DAI must comprise at least 20% of the pool and not exceed 70% — with any attempted trade outside of those limits being rejected.

The protocol’s maintenance of price parity between stablecoins appears to offer arbitrage opportunities to users as stablecoins rarely trade at exactly equal value on centralized trading venues and decentralized exchanges.

Ohmzeus claimed the system offers a number of advantages over swapping stablecoins using traditional automated market makers, citing one-to-one stablecoin swaps, low gas fees, and capital efficiency. They commented:

“My expectation is that (at least early on) the pool swings from range extreme to range extreme as the pooled tokens fluctuate around peg. This should produce heavy fee volume from arbitrage.”

Related: Olympus DAO chases a new ATH after fresh bond offerings and partnerships

Ohmzeus suggests that Range could be used to mobilize stablecoin reserves held by Decentralized Autonomous Organizations (DAOs), noting the protocol enables OlympusDAO to “productively deploy its reserves in an isolated environment where its exposure to different assets is defined and controlled.”

https://ift.tt/3GmjRTt
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

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

Bitcoin Legal Tender in 3 Days but Survey Shows 7 Out of 10 Salvadorans Want Bitcoin Law Repealed

Bitcoin is becoming legal tender in El Salvador in three days. However, a nationwide survey conducted by the University Institute of Public Opinion (Iudop) shows that seven out of 10 Salvadorans want the government to repeal the Bitcoin Law. El Salvador’s Bitcoin Law Goes Into Effect in 3 Days The University Institute of Public Opinion (Iudop) in El Salvador conducted a study between Aug. 13 and Aug. 20 of how the public views the country’s upcoming Bitcoin Law. The institute is a research center of the José Simeón Cañas Central American University (UCA). El Salvador’s Bitcoin Law is set to go into effect on Sept. 7 , when BTC will be legal tender in the country alongside the U.S. dollar. A total of 1,281 respondents ages 18 and over participated in this national survey that “represents the entire adult population residing in the country,” according to the institute. Out of all the respondents, 62.4% said they were aware of the approval of the Bitcoin Law by the deputies of the ...
Post a Comment
Read more