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

Third-Largest Bank in France Societe Generale Proposes Use of Defi Protocol Makerdao

The Third-Largest Bank in France Societe Generale Proposes to Use Defi Protocol Makerdao

French multinational investment bank and financial services company, Societe Generale, has proposed to leverage the decentralized finance (defi) protocol Makerdao. The proposal dubbed “Security Tokens Refinancing” was published on October 1 to Makerdao’s forums and the submission aims to utilize the DAI stablecoin to refinance a covered bond concept.

Societe Generale Proposes Leveraging Makerdao and DAI Stablecoins to Refinance Bond Token

The international bank Societe Generale’s digital currency division has submitted a proposal on Makerdao’s governance forums (MIP6 application) and the bank wants to refinance a bond token. The “covered bond token,” as it’s called, was issued on the Ethereum blockchain last year. The proposal is on “behalf of European investment firm Societe Generale-Forge (SG-Forge),” the MIP6 application notes.

“This refinancing transaction experimentation is in line with the innovative process and solutions developed by SG-Forge,” the bank’s digital currency division explains. “This experimentation combines traditional capital market activities with the decentralized finance emerging and growing ecosystem.” Societe Generale’s summary of the proposal adds:

The “OFH Tokens”: the OFH Tokens are characterized as covered bonds under French Law backed by home loans and benefiting from a statutory privilege, issued by Societe Generale SFH (SG SFH) a specialized credit institution with the status of Société de Financement de l’Habitat delivered by the Authorité de Contrôle Prudentiel (as further described below) in the form of security tokens in the Ethereum public blockchain.

Makerdao’s Rune Christensen: Post-Foundation Model of Organization Is Proving to Be More Scalable

On Friday, the founder of Makerdao, Rune Christensen, explained how the international bank from France proposed to use the protocol. “Societe Generale, the third-largest bank in France, just made a collateral onboarding application to Maker for 20 million USD,” Christensen said. “Backed by EUR bonds, proposed by their blockchain subsidiary.”

“Turns out it was the future of France all along,” Christensen added. “Amazed that I had no clue about this at all the whole time. This is one of [the] multiple recent examples in Maker Governance of how the post-foundation model of organization is proving to be more scalable.”

What do you think about Societe Generale’s digital currency division leveraging Makerdao and DAI tokens to refinance a bond token? Let us know what you think about this subject in the comments section below.

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