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DMM- DeFi Money Market launches with DMG Token.

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DMM (DMG) – The first DeFi protocol backed by real-world assets

The DeFi Money Market (DMM)is a permissionless, open, and transparent ecosystem stationed on the Ethereum Blockchain that entrusts its users worldwide to earn positive returns. In this ecosystem, the real-asset owners will be able to penetrate into the web of Ethereum digital asset owners for funding, allowing asset lenders to earn passive income.

The full whitepaper can be found here.

The yield will be earned through digital assets supported by a bundle of real-world assets that generate interest carried on-chain into the DeFi space. Therefore, the asset lenders or owners can involve themselves in collateralized borrowing at rates that are competitive.

This means that DMM tokens offer a balanced and steady ROI on the deposited funds at a rock-steady 6.25% APY. Compare this to other on-chain money markets, they offer fluctuating interest rates largely driven by speculative traders. Also, DMMs collaboration with Chainlink’s decentralized oracles invests extra layers of security and trust in the ecosystem. It writes imperative data on-chain which guides through the valuation and cumulative collateralization. 

Interest earned is sent back to the DMM DAO ecosystem where DMG can be exchanged with ETH/DAI/USDC that includes the accrued interest also. With Ethereum introducing the delegated payment mechanism, fees can be paid in DMM mTokens instead of ETH. It has become hugely expensive to execute smart contracts through the Ethereum platform. This move has been welcomed by the traders and investors who prefer paying low fees along with the security of the PoW blockchain platform.


DMM: The DeFi Money Market

The DeFi Money Market foundation funded by Draper Goren Holm initiated the first sale of DMG governance token which will guide the DMM DAO. The sale opened on June 22nd and will run for a month or till the allocated tokens are exhausted. It is being launched as an Initial DEX Offering for wide access for anyone with an Ethereum address and internet connection. 

dmg

Overview of DMM

The DMM DAO governance token fosters community governance building further the foundations of the DMM ecosystem and protocol. DMG plays a critical role in fomenting wider participation and minimizing governance risk. DMG breeds governance of the ecosystem with the DMM DAO that controls Ethereum smart contracts and the contiguous assets.

  • DMG ownership implies the right to govern the guiding principles of DMM protocol
  • Total leeway about participating in decision making about introduction of new asset types and asset location. 
  • DMG tokenomics can be altered by the decentralized community governing DMM DAO. This also includes an enacted claim on revenues generated within the DMM ecosystem. 
dmg

Why should you care about DMM?

  • The yields are linked to the performance of DMM assets which generate incomes. This is a satisfying measure because it implants an element of trust owing to stability. Also, since the assets are tokenized they are transparent and can be easily viewed from a distributed layer.
  • In the world rife with volatility, DMM yields are pretty stable because DMM assets are supported by tokenized real-world assets that link traditional finance and cryptocurrencies. Stability plays a major role in making decisions and predictions.
  • Its partnership with ChainLink adds an additional layer of security to the DMM ecosystem because it writes essential on-chain. Chainlink securely takes information on the assets in the ecosystem and puts them on-chain. This way users get first-hand reports on the overall health and collateralization of the DMM ecosystem. It also instills other important information for the participants to make them understand how interest is generated with its allocation.
  • There is an amazing amount of flexibility offered because the interest earned by a DMM holder is accrued per block. Holders can both enter and exit the DMMA without any time bondages.

Upcoming Important Dates for DMM

OKEx, the leading cryptocurrency spot, and derivatives exchange have announced that it will list DMM governance Token (DMG) with trading pairs against Tether and Bitcoin. 

dmg

DMG spot trading commences at 3:00 am UTC on July 17, while deposits of DMG will be available starting from 3:00 am UTC July 16. Withdrawals will commence at 3:00 am UTC on July 20.

The IDO sale is live till date on two centralized exchanges dmg.defimoneymarket.com and mesa.eth.link

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Polkadot: How the Initial Parachain Offering works

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Polkadot’s Initial Parachain Offering has the potential to replace traditional financial tools

polkadot initial parachain offering

The DeFi sector has been in the limelight ever since Interesting projects have graced the platform. Not just newer additions but even existing projects have incessantly worked towards improving its offerings. 

Polkadot is the next-generation blockchain protocol that has come with an interesting proposition – a secure way of funding projects through a new concept called Initial Parachain Offering (IPO). With this Polkadot will be leveraging its already existing parachain architecture using its native DOT tokens.

A new idea on the block

The blockchain technology through its new move is all set to replace traditional financial instruments with Polkadot leading the front. The Polkadot Initial parachain offering will introduce a completely new model to launch blockchain and other decentralized projects. The idea is to create a process so transparent and scalable that it rules out even hints of uncertainties. Crypto markets have taken cues from the conventional IPO (Initial public offering) markets and came up with Initial Coin Offering or ICOs for raising funds for new crypto projects.

The initial parachain offering aims to revitalize the concept of the crowdfunding mechanism. The IPO is stationed on Polkadot’s core architecture of parachains which is nothing but manifold parallel blockchain shards that contribute to improving the scalability of the network. Polkadot through its relay chain offers layer-zero security as well as interoperability. In this case, all the parachains are attached to the network and serve as sovereign layer-one blockchains. 

polkadot

This will let the parachains share Polkadot features like scalability, governance functionality, interoperability and security. 

How Initial Parachain Offering works

As claimed by Polkadot, the goal at the moment is to support 100 parachains connected to its blockchain. But, as the slots are limited, they will be automatically auctioned through a permissionless auction process. In order to participate in the auction, the parachain projects have to undergo the entire gamut of the Initial Parachain offering process. This will set the string for projects to accept DOT loans through DOT token holders. Funds raised via the crowdfunding module will directly get processed into the Polkadot Relay Chain. 

If the project manages to get sufficient contributions to win the auction, then the DOT loans will be returned to the contributor at the end of the parachain lease period. If the project fails to secure enough contributions and the auction gets out of hand, then the DOT will be returned to the contributors immediately. 

To make things more understandable, the Polkadot Relay Chain will work as an escrow fund safety for the DOT holders. This will be totally unlike ERC20 tokens ICO funding where investors send their ETH to an unknown address. On top of that, they might never withdraw later when the project fails. But in the case of Polkadot’s Initial Parachain Offering, investors also get their DOT tokens back by the end of the Parachain lease period and this is what sets it apart. It eventually helps a great deal in creating a safe and secure ecosystem not just for the investors but even for projects. 

This concept looks extremely promising as of now because it has gone in-depth, studying about present flaws in the crypto ecosystem created a value proposition to better fundraising in the crypto market. 

About Polkadot

Polkadot was launched in 2016 and run by the Web3 Foundation. It has been created with a motive to build a free decentralized web. But, the foundation as of now is in a contract with Parity technologies to build its protocol. Polkadot has some of the biggest names in its team. Gavin Wood, Peter Czaban, and Robert Habermeier are the co-founders of this much-celebrated platform. Gavin Wood in particular is also one of the co-founders of Ethereum that brings in a sense of confidence and legitimacy in the eyes of crypto enthusiasts. 

The team at Polkadot network has wide experience with distributed ledger systems, cryptography, and wallet technology. Polkadot has been the outcome of multiple independent teams that have contributed to its development. The team believes that Polkadot is a project by developers for developers and looks at connecting public and private chains, DApps, and oracles. Polkadot has seen great success with its recent native DOT token which already is featured in the top 10. 

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PlotX : The Quintessential Prediction Market Protocol.

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PlotX Token: DeFi is stepping into the prediction markets space and PlotX is swinging for the fences!

plotx

Why Prediction Markets Are Awesome

Did you know that there’s a principle known as “Wisdom of Crowds”, which basically states that large groups of people are collectively smarter than individual experts when it comes to problem-solving, decision making, innovating, and of course predicting?

PlotX harnesses the power of this principle by providing a platform where people can apply statistical analysis to the best of their capabilities and predict things like the price of BTC/USDT after certain intervals of time and incentivizes them to do so by offering them unlimited rewards if their predictions are correct.

matic ANNOUNCES plotx will UTILIZE matic network 8/25/20

Challenges with Traditional Prediction Markets

  • Counterparty risk – The problem with centralized prediction markets is that they keep the system as opaque as possible in order to nudge the market in their favour. Users have no choice but to blindly trust the market overlords without having any information about how the market is run.
  • High fees – Of course, the overlords want their share of the pie whenever you win or even participate in the market.
  • No transparency – In traditional prediction markets, the only thing a participant can do is give their money to the market custodians and hope that they run things fairly. Things like price per position calculation, money staked in the market, rewards calculation are hidden away from the users.

And this is where PlotX is extremely superior, in that it is an open-source platform of smart contracts that is fair, decentralized, and extremely transparent with its settlement and reward distribution process.

Enter PlotX

PlotX is a non-custodial prediction protocol that allows users to earn unlimited rewards on high-yield prediction markets. Built by the developers of Nexus Mutual & GovBlocks, PlotX is dubbed as the Uniswap of Prediction Markets. It uses an Automated Market Making algorithm to create and settle markets – something that makes the dapp one of the most anticipated new DeFi projects. 

What makes this “Automated Market Making” feature so good is that unlike other prediction market platforms PlotX users don’t need to bother themselves with the task of creating markets; instead, markets are automatically created on-chain via smart contracts.

PlotX markets are focused on crypto-pairs like BTC/USDT, ETH/USDT, LINK/USDT etc and come in three main flavours, viz-a-viz, Hourly, Daily, and Weekly. Reward distribution also takes place on-chain via smart contracts without the need for involving any counterparty. 

Some of the key advantages that PlotX brings to the prediction markets world are:

PlotX Team


Ish Goel, Founding Member of PlotX.io entered the Ethereum ecosystem back in 2016. Along with Nitika, Ish won the London Blockchain Week Hackathon in 2017 and joined Nexus Mutual as the CTO.

Nitika Goel, Founding Member of PlotX.io entered the Ethereum ecosystem in 2016 and has served as the Lead Developer of Nexus Mutual. She also co-founded GovBlocks, an on-chain governance toolkit. She was also the author of the ERC1132 lockable token standard on Ethereum.

Kartic Rakhra, Founding Member of PlotX.io entered the Ethereum ecosystem in 2017 and co-founded GovBlocks along with Ish & Nitika. He also set up India’s largest blockchain community via the India Blockchain Week in partnership with Fintech Worldwide.

Satheesh A, Founding Member of PlotX.io entered the crypto ecosystem in 2019. He comes with 25 years of experience working on CXO positions in the IT sector across marquee organizations like Cognizant, BORN and various others.


Automated Market Making (AMM)

This refers to PlotX smart contracts’ ability to automatically create different markets of crypto-pairs in which users can predict the future value of the underlying pair.

Therefore, markets are automatically created every hour, day, and week. After their respective clock runs out, they automatically close and distribute the rewards to the winners. At any given time one market of each type is open to users for predictions.

And during the time all this is happening, position prices, odds, rewards, and everything else are also automatically calculated and implemented seamlessly, all without the need for any intervention by anyone.

Rapid Turnaround

These automatically generated markets come in three main flavours – Hourly, Daily, and Weekly. Hence, there is no need for users to lock their funds for loooong periods and instead, they can reap the benefits of their predictions instantly.

Specially Designed For Crypto Traders

The good folks at PlotX see a lot of potential in the crypto-pairs prediction markets space. Therefore, instead of following in the footsteps of all the other prediction protocols out there, they have gone in a different direction and focused solely on crypto-pair markets.

plotx
TRY PLOTX ALPHA HERE

Risk Spread Mechanism

Another differentiator that sets PlotX apart from all the other prediction markets out there (centralized or decentralized) is its unique risk spread mechanism. What this means is that the users of PlotX protocol are given more than just the two traditional options (all-in or all-out) while predicting.

So, for example – if I make a prediction of “ > 11,500 ”  in an hourly BTC/USDT market, and I stake 1 ETH & choose the leverage of 3X (i.e., 60%), and my prediction happens to be wrong, even then, I will still get .4 ETH back after the market is settled.

Community Driven Governance

PlotX leverages Govblocks to follow a pragmatic approach to on-chain governance. The community can create proposals and vote, triggering automated decisions – all via smart contracts. The community will be involved in all important decisions of the platform.

How PlotX Could Be The Gold Standard For Prediction Markets

PlotX offers 5 key value propositions

  1. PlotX, dubbed as the Uniswap of prediction markets, possesses an Automated Market Making algorithm that creates new prediction markets automatically. It also enables automatic odds, position price, rewards calculation ruling out the need for any counterparty.
  2. PlotX takes a very pragmatic approach and selects only those markets which aren’t subjective but rather are based only on mathematical equations.
  3. Market lengths are short and exciting. Once the results come out, rewards can be claimed instantly after a short cool-down period. Shorter market cycles also make sure that users don’t have to lock their funds for too long.
  4. Users also can mine participation rewards in conjunction with their participation in the markets overall.
  5. Its risk spread mechanism lets the user manage their risk and customize their exposure to losses if any.

At present, the PlotX alpha is available on the Kovan Test Network of Ethereum and a very strong community is being built on the telegram group.


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What is Solana? How SOL is aiming to sovle scaling issues.

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How Solana has solved scalability issues of Blockchain

Decentralized applications need the global exposure it rightly deserves. The current trends show how successful decentralized token platforms have been and Solana is a high-speed single layer blockchain that has been designed to create solutions that will allow decentralized blockchains to become a globalized data system.

Scalability is one of the biggest challenges that Blockchain faces. Solana has solutions for the common problems of blockchain that currently supports a peak capacity of 65k transactions per second and 400ms block times with the help of a timestamp system called Proof-of-History (PoH).

https://solanabeach.io/#/

What is Solana?

Solana was founded in 2017 by Antony Yakavenko who was an executive at Qualcomm. He has had a plethora of experience working with different decentralized systems with compression algorithms for DropBox. He then joined hands with Greg Fitzgerald the CTO and Eric Willians to create a trustless protocol that converts into a code the time passage within the data structure allowing for superior scalability.

Solana is a delegated Proof-of-Stake protocol that focuses on providing scalability without giving up on security and decentralization attributes.

http://solana.com

SOL Token

Solana has a token called SOL passable to the nodes on the Solana Blockchain to validate its output on an on-chain program.

Circulating Supply16,350,633 SOL (3.35%)
Current Total Supply*488,634,933 SOL
Initial Total Supply500,000,000 SOL

Key features

Proof of History

The biggest challenge that distributed networks face is to find a common ground on time and sequence in which events occur. As a part of the system, all validators are required to solve SHA256-based Verifiable Delay functions (VDF). By default, VDF requires a fixed number of steps to analyze but produces an output that can be publicly verified.

 Its unique Decentralized timeline system called Proof of History or PoH is built in order to solve the issue of time in distributed networks that does not have a single source of time. PoH uses Verifiable Delay functions that allow every single node to generate timestamps with SHA256 computations. The mechanisms call for holistic growth and high-frequency blockchain applications in order to free the global financial system.

TowerBFT integration

PoH allows the user to compute the node scenarios with only a fraction of the messaging overhead of a majority of the PoS systems. They work with Solana’s version of PBFT or Practical Byzantine Fault Tolerance as the network’s time-keeper letting the protocol encode vote lockouts in the ledger if any so that validators do not vote on two different forks at the same time. If any such thing is detected the validator will be penalized by the slashing of his stakes. 

Turbine

The time required to promote all blockchain data to all the nodes can be the biggest roadblock to achieve scalability. The lack of bandwidth could be the reason behind this. Solana proposes that a solution to this would be disintegration of data into packets with smaller amounts of bandwidth. Turbines are that feature that leverages the network to transport data in bits for more impact.

Gulfstream

For every single block production process, the network leaders will also be decided based on their individual stakes. The validators as well as the clients can forward transactions to the leader much ahead of time allowing validators to execute the transactions ahead of time, rapidly switch leaders, and also reduce confirmation times. 

solana
https://explorer.solana.com/

Cloud break

Poor memory size in a distributed system works as the biggest roadblock to a good performance. Cloudbreak as a feature was designed to optimize the ongoing reads and writes across RAID 0 configuration of SSDs.Additional disks add to the storage capacity of on-chain programs with the increase in concurrent reads and programs written when execution takes place.

Conclusion

Solana is the future because its solutions target scalability for blockchain systems. It has also addressed some of the biggest issues that decentralized platforms face. It has removed sharding from its infrastructure which has contributed towards faster validation and more security also.

Currently, Solano operates on a non-linear architecture which undoubtedly is better than linear blockchains and could command the future. Proof of History is surely an interesting way to remove the time-issue from the blockchain. Solana’s solutions may be destined for a global time standard for blockchain operations.

solana

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