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DeFi Oracle Coins are hot hot hot this weekend. Chainlink, BAND, DIA, UMA, and others making major moves.

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Oracle solutions: a trending disruption in DeFi. Trend Signals major interest among investors and institutions.

Within the space of DeFi is another niche that calls for attention are Oracle tokens that are having a great 2020. Needless to say, DeFi has created the right kind of noise to trigger investment interest in these DeFi Oracles. In this article, we highlight the top-performing DeFi Oracle Coins.

So what exactly are oracles?

Oracles are nothing but services that are developed to integrate with smart contracts offering a mountain of real-time in-depth information on pricing. If the concept of oracle is being understood without any ambiguity its role can solve a major issue of data reliability in trading and several other applications of blockchain technology.

Messari, a known crypto data firm, had reported that amongst the crypto assets, ChainLink (LINK), Band, and Nest are among the highest performing this year. Chainlink and Band are particularly the top performers with maximum employability in different DeFi protocols. Their tokens rank among the most valuable DeFi tokens in another study by CoinGecko:

defi oracle coins

Top Performing DeFi Oracle Coins / Tokens

LINK

chainlink staking

Its open-source API helps the developers to build multi-functional software and web applications to improve the performance in the crypto market. ChainLink has always worked towards increasing the adoption of digital currencies all across the world

  • It’s On-chain as well as Off-chain design has been structured so as to help even the novices in the space and experts to invest more.
  • The agreement so reached by the traders is kept confidential and the network ensures that there is no fraudulent activity

BAND

Band Protocol

The Band Protocol is a decentralized Oracle framework mainly used for blockchain Decentralized apps. The Dapps are administered by Smart Contracts which feed these apps off-chain real-time data from trusted data providers. Band Protocol was backed by Sequoia Capital and Binance.

  • The successful adoption of the Band protocol is due to the efforts of a great team from enriching experience who are dedicated to building a framework for decentralized data governance taking advantage of decentralization.
  • The protocol prioritizes decentralization. Its internal team is crystal clear that it will not allow one entity to take control over even an iota of data
  • Data provided are distributed perfectly because the protocol is community-driven, allowing people to build what they want to. 

DIA

dia token

Decentralized Information Asset or DIA is an open-source information platform that makes use of crypto-economic incentives to source and validate data. DIA is a Swiss-based non-profit organization that operates with a mission to liberate financial data. The company culture promotes transparency in terms of sourcing data and makes it publicly accessible. DIA utilizes crypto-economic incentives for its stakeholders for data validation.

  • Different DeFi platforms like Ampleforth, MakerDAO, etc are exposed to Oracle vulnerability. Their dependency on Price oracles is unquestionable which is where the role of DIA is strong as it has proven its worth in serving the needs of these platforms.
  • Entities involved in trading are strongly benefitted in DIA’s open-source and trustworthy data. Its content including crypto data and financial news are backed with reliable sites and other new machinery. 

UMA

uma protocol

UMA leverages the use of blockchain technology to encourage universal access with its digital-first approach. Universal Market Access or UMA is a protocol for the creation, maintenance, and settlement of derivatives for underlying assets. It allows users to create smart contract-based meta tokens by which traders can express their market view without the need to hold the tokens.

  • Focused primarily on priceless derivatives on Ethereum, the contracts are designed in a manner to ensure collateralization without the need for on-chain price feed.
  • Its DVM design ensures that any on-chain oracle can be compromised for a price. But UMA’s DVM is based on a system of economic incentives which ensures that there is no way to corrupt the DVM

TRB

tellor trb

Tellor or TRB are Ethereum-based decentralized oracles that are easily implementable through DeFi Dapps. Its data feeds are reliable as they use staked miners competing through Proof of Work to submit the official value. 

  • The Oracle is an on-chain data bank where data points are added and in return, the miners are given rewards called Tributes or TRB. 
  • It ensures a secure and sustainable system by incentivizing miners required for dispute resolution.

Oracles serve as the fundamental components to any stablecoin’s primary functionality which then feeds data to smart contracts in the most reliable and secure manner.

Thanks for reading about DeFi Oracle Coins!

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CORE Token (cVault.finance) Achieves Highest Volume on Uniswap, YFI comparisons already circulating

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CORE Token (CORE) Traded over 90 million in volume on Uniswap on September 28, 2020.

CORE is a cryptocurrency that has been conceptualized to apply strategies with the autonomy enjoyed by decentralized projects. The CORE project has been designed to execute these profit-generating strategies but slightly different from the present ways. In the prevailing systems, autonomous strategy executing platforms either a team or a single core developer understands and takes care of how locked funds will be used to generate ROI. But, as the fund grows, it also paces the way for fallacious incentives and also makes it even more vulnerable for mistakes to be created. But CORE defies this practice and has chosen for a mechanism with decentralized governance. 

The total CORE token supply is finite and there will only ever be 10,000 CORE.

The token holders of CORE will now be in a position to tender strategy contracts. They can also vote on whatever is live so that the autonomous strategy execution can be decentralized.

One extremely novel feature of CORE: Out of the profits that will be generated, 5% will be utilized to auto-market buy the CORE token. 

CORE Token 101

In a recent first, LiveCoinWatch.com has followed the hottest trends and beat Coingecko and CoinMarketCap by listing $CORE first here.

CORE token is now looking at infusing more and more value in its system and for that CORE smart contracts deploy exchangeable strategies that farm coins inside the pools. This apparently converts into great incentives awarded to those who decide to farm CORE with coins other than CORE/ETH LP.

The yield so gained from staked funds will be routed towards the market to purchase CORE enhancing the relationship for both the parties. CORE holders will massively gain from the different yield-gaining activities on the CORE smart contracts. When the farmers decide to sell, the transfer fees on the sale proceeds of the CORE tokens are given back to the farming pools pointing out to the fact that buying pressure will be more intense than the selling pressure.

CORE is based on sound economics

Usually, it is assu med that when more pools are added in the system it could possibly debase the rewards for the pool that people are currently farming. In the CORE model, this gets significantly reduced by the nature of CORE fees paid out by the additional farming pools. The rewards get diluted but the CORE in their possession will increase in value as the market responds positively. 

Deflationary farming

Now, it is a known process that, in order to keep farming, users have to mint more and more coins. As a result, the fundamental value of the underlying token asset loses in value because of excessive inflationary conditions.

There are many projects in the DeFi ecosystem that faces this and CORE token tackles this issue in its roots by introducing something called deflationary farming. Deflationary farming in this case comprises two major steps that are charging a fee on token transfer and users earning the fee by farming. This means that those who are holding tokens with the ability to farm can do so without worrying much about inflation. 

The transfers will be approved by the CORE transfers smart contract. It will coagulate the vulnerabilities further by blocking all withdrawals from Uniswap. In a way, this will be hugely beneficial for holders as it will endow them with stability and more depth into it.

You get fees by staking in the Core Vault. For every CORE transfer, there is a fee, and when CORE is sold on Uniswap there is a 1% fee that is distributed to farmers.

Strength in Community

For CORE, the most important link is its community governance. In this system community is everything. It decides everything that will happen on the system right from deciding developer fees, to adding new pools, from deciding about fee approver contract to disabling pools in the CORE transfer contract. In the beginning, CORE will launch with a 1% fee on transfers for farming and 7% of it will be used as a developer fee.

The remaining 93% will eventually get directly transferred to the farmers in the process. For instance, if the holders want the COREVault to have a YFI pool, then the ratio of the fees will be set in accordance with how much can be distributed. Also, when people will be able to withdraw YFI tokens from it also will be a determining factor. This way the CORE holders will be highly incentivized to hold more YFI tokens.

Official website: https://cVault.finance/
CORE Telegram Channe:l https://t.me/COREVault
LiveCoinWatch : https://www.livecoinwatch.com/price/cVaultfinance-CORE
Uniswap Link : https://uniswap.info/pair/0x32ce7e48debdccbfe0cd037cc89526e4382cb81b

$CORE still holds the current highest volume on Uniswap, as of 9/28/20 12:30pm PST.

core token
Uniswap link to CORE Token

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NFTs Crypto: Just the Beginning

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NFTs Crypto: Understanding the growth story

Things are heating up with NFTs in DeFi and crypto space, and fast! Non-fungible token sales have amassed close to $100 million worth of lifetime trade volume, according to Bankless. The data that was taken from a noted web portal nonfungible.com, gives a comprehensive view of the NFT ecosystem. We believe that the growing adoption of NFTs in the ecosystem partnered with user understanding of the same has the potential to become a trillion-dollar market in the future. 

From the first brush, anyone could perceive non-fungible tokens (NFTs) as crypto-collectibles like crypto kitties but when we dig deeper, non-fungible tokens are an entirely new class of digital assets. For the very first time, there is a technology that allows us to create an incontrovertible new set of digital assets that is easily maintainable without any authority or centralized entity other than the blockchain itself. 

Understanding Non-fungible tokens

Blockchain has this innate ability to create scarce digital assets, the ownership of which is maintained by a decentralized network of miners. But, in great detail, these assets are fungible meaning they can be replaced interchangeably by another of the same. For instance, Your bitcoin will be the same as my bitcoin. So they are mutually interchangeable and are pretty popular as mediums of exchange or as a store of value. But they are not unique!

So, now a group of entrepreneurs, who employ blockchain technology will allow for this uniqueness to rise with what we call non-fungible tokens or assets which are not interchangeable. So primarily they are assets that are mutually not substitutable and cannot be interchanged. 

Fungibility is very important for assets to maintain their reliability but the fungibility factor also makes it vulnerable and susceptible to losses due to fluctuation in prices. This is the only reason that the concept of non-fungible tokens has risen to prominence. NFT’s are digital assets of the exclusive nature because each of them is different from the other. Every NFT secures peerless metadata that paves the way for its exclusive entry on the blockchain. NFTs cannot be interchanged on the same blockchain.

NFTs: A Rapid Rise

The trials for the creation of a non-fungible token began around 2013. The first example we can highlight was that of the Color Coin created upon the Bitcoin Network. But the one which actually got noticed in the crypto world was the emergence of ERC721. The features were slightly different and it could track the movements and ownership features of individual coins making it non-fungible. The first successful attempt at its application was called Crypto Kitties. The most exorbitant form of it was traded for $172,625 in 2017.

It has found unique and valuable use cases and implementation in several industries apart from the crypto industry like gaming, art pieces (also crypto-based), and likewise. Over the years the use of fungible crypto has yielded positive results and has firmly established its significance in the digital ecosystem. But NFT’s signify the huge ability to tokenize physical assets while holding on to its unique properties. With its rise, it has proven that it will not cause any hindrance to the existing format in the cryptocurrency ecosystem.

The idea called NFT has gathered a lot of steam especially since the verifiable digital scarcity concept was first introduced. Even this year the popularity of NFTs has jumped considerably and there is a constant flow of funds in the concept itself. Data from nonfungible shows that after the first week of September, for a period of 7 days, there were 9353 sales totaling $988,649 in NFT trade volume. The average US dollar price for a single NFT was $105 that particular week!

nfts
nfts
Project history chart from Nonfungible

The virtual land investor @Dclblogger talked about how the metaverse was growing. He also tweeted about 25 industries that are being disrupted by the non-fungible token ecosystem. The three biggest players in the NFT arena include Sorarem, Cryptopunks and Superrare. 

Holistically speaking, the NFT ecosystem continues to grow and 2020 has displayed that people are realizing that NFTS can represent anything in the virtual world and tethered to the real world with concepts. Crypto creators are generating a whole new atmosphere for NFT collectibles, rare art pieces in-game items, and large virtual worlds. The growth will show no signs of abatement anytime soon!

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UNI Token- Uniswap Token: Here’s what you need to know about its usecase.

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UNI Token – The new Governance token from Uniswap

uni token

UNI, the Uniswap governance protocol token is live. In order to combat the strong competitive force especially from the AMM Sushiswap, Uniswap initiated their surprise launch. Ever since Uniswap started its operation it has always vouched to be a trustless platform with a vision to make it as decentralized as possible. The new UNI token protocol will be available through four liquidity mining pools. UNI token holders can in the future vote to add more pools after the initial 30-day governance grace period. Read on to find more out details about the usecase of the token itself.

About Uniswap 

Uniswap has always been inspired by Ethereum’s vision and has for long committed itself to the vision of permissionless access, security, and immutability. These three aspects are extremely important from the perspective of reaching out to financial services without the need to worry about discrimination or lack of accessibility. Uniswap to date stands as a huge competition to some of its centralized counterparts. And whatever success Uniswap has achieved until now has been without the involvement of the core development team indicating demand for permissionless financial services.

In less than 2 years, the protocol has already Supported over $20bn volume traded by 250,000 unique addresses across 8,484 unique assets. It has roped in integrations with hundreds of interfaces and applications. Uniswap is deemed fit to be positioned for community-led growth and self-sustainability. The introduction of UNI, an ERC-20 token serves the purposes and will also facilitate shared community ownership which will actively guide the project further. 

Further Uniswap is known to embrace and apply the philosophies of neutrality and minimization. The governance framework will be limited to contributing to the protocol’s usage and development and in the long-term, it will look at broadening the scope of Uniswap. 

How will the UNI Toke be allocated?

1 billion UNI have been minted at the genesis which will be accessible over a period of 4 years. The 4-years of initial allocation will be executed in the following manner.

  • 60.00% to the members of Uniswap community [600,000,000 UNI]
  • 21.51% to team members and future employees with 4-year vesting [215,101,000 UNI]
  • 17.80% to investors with 4-year vesting [178,000,000 UNI]
  • .069% to advisors with 4-year vesting [6,899,000 UNI]

Also, there will be a perpetual inflation rate of 2% per year which will start after 4 years. This will ensure there is continuous participation and relevant contributions are made to Uniswap. 

uni token allocation

For Uniswap, its community has the biggest hand in registering success over the last two years. 

UNI Token + Uniswap Liquidity Mining program

An initial liquidity mining program will go live on September 18 2020 12:00 am UTC. The initial program will be functional until November 17 2020 12:00 am UTC and will target 4 pools on Uniswap Version 2

  • ETH/USDT
  • ETH/USDC
  • ETH/DAI
  • ETH/WBTC

5,000,000 UNI will be allocated to each and every pool to LPs proportional to liquidity, which can be roughly estimated as given below:

  • 83,333.33 UNI per pool per day
  • 54 UNI per pool per block

Once the 30-day governance period will reach its vesting edge point, the Uniswap governance will manage and administer all UNI vested to the Uniswap treasury. In this period, governance can vote in order to allocate UNI towards grants, partnerships, additional liquidity mining pools, and other important concerns. 

Community Matters

Uniswap governance is live from day 1, but the control over the treasury will be delayed until October 17th, 2020. The grace period will provide the community with an understanding of the nuances of the governance system. They can easily begin their deliberations on potential governance proposals.

UNI token holders will also ensure that governance decisions are taken keeping in mind laws and regulations surrounding it. In order to make this happen a fee switch has been initialized so that the UNI holders can use their contracts to vote on tokens for which they will collect fees. Major credit for the success of the Uniswap protocol goes to its community and it will continue to rely on the community to ensure great proposals are voted for.

UNI holders will have immediate ownership of:

  • Uniswap governance
  • UNI community treasury
  • The protocol fee switch
  • eth ENS
  • Uniswap Default List (tokens.uniswap.eth)
  • SOCKS liquidity tokens

UNI Token Resources

UNI Token: https://etherscan.io/token/0x1f9840a85d5af5bf1d1762f925bdaddc4201f984

Liquidity mining: 

Governance:

https://etherscan.io/address/0x5e4be8Bc9637f0EAA1A755019e06A68ce081D58F

CoinGecko:

https://www.coingecko.com/en/coins/uniswap


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