Tag: OlympusDAO
Gitcoin Platform Raised $1.2 Million In ETH To Help Ukraine
Gitcoin Grants Have Raised $1.2 Million in Ethereum for Ukraine
Crypto Taxes 2022: Here’s What You Need to Know According to CoinTracking
PRESS RELEASE. Crypto changes quickly, with new tax laws and regulations coming to several countries in 2022, impacting how people need to report their crypto gains on taxes. New regulations in the US are a hot discussion topic among crypto investors, with a bill coming to fruition severely increasing the reporting needs for crypto brokers…
The post Crypto Taxes 2022: Here’s What You Need to Know According to CoinTracking appeared first on Bitcoin News Miner.
DeFi Flashed Revival Signs As Retail Inflows Pour In: Report
Tower Finance Announces the Launch of Algorithmic Stablecoin: the New Holy Grail for Defi 2.0
Seoul, Korea, Feb 11, 2022 - (ACN Newswire) - Recently, Tower Finance is proud to announce the Launch of its Algorithmic Stablecoin. Algorithm-based stablecoins are new variants of cryptocurrency tailored for offering improved price stability. In the current market today, more and more users have taken interest, as it can also help in balancing the supply and demand of the asset in circulation.
Algorithmic Stablecoin Protocol, developed by Tower Finance, looks to offer considerably improved capital efficiency in comparison to collateralized stablecoins.
What is Tower Finance?
The Tower Finance is a Fractional-Algorithmic Stablecoin, soft-pegged to the U.S. Dollar, built on the Polygon network. The protocol plans to maintain TWR price stability by storing sufficient collateral in the time locked-smart contracts. The USDC is deposited into the protocol when a user mints TWR token, while the CUBE token, which is used for minting, is burned. When the user redeems TWR tokens, the protocol pays back USDC and mints the required amount of CUBE tokens. This allows arbitrageurs to help maintain price stability.
Aiming to solve the 'Stablecoin trilemma'
Tower Finance aims to provide a solution for the so-called 'Stablecoin trilemma' of decentralization, capital efficiency, and price stability by introducing TWR, its fractional-collateralized algorithmic stablecoin. Tower Finance aims to build an ecosystem that incorporates both collateral and high capital efficiency, hence developing stability.
By implementing a floating collateralization ratio, TWR not only maintains its peg in the most efficient manner possible, but it also captures value for CUBE holders and produces yield for its community of holders.
Implementing DeFi 2.0 through Protocol Owned Liquidity and Protocol Rented Liquidity
Tower Finance is the first algorithmic stablecoin protocol to adopt the 'Protocol Owned Liquidity' model introduced by OlympusDAO. While the structure is different, the underlying idea is similar. The protocol charges a penalty to users who terminate the vesting terms for the farming rewards. When this happens, the protocol uses 2/3 of the collected penalty for providing liquidity. Half of it is converted to USDC and used to provide liquidity. The leftover, which amounts to 1/3 of the collected penalty, is sent to the Profit Manager.
When TWR is minted with USDC and CUBE, the protocol doesn't immediately burn CUBE. Instead, 50% of CUBE is sold to temporarily create a CUBE-USDC LP to provide additional liquidity. We call this 'Protocol Rented Liquidity', because the meant-to-be-burnt tokens are borrowed for a short period of time to add liquidity to Tower's ecosystem until it is removed via governance decisions, in which case, the USDC is converted into CUBE and burned.
With a commitment for long-term sustainability yet a market fit, ultra high-yield/yield enhancement go-to-market strategy, it is perfectly destined to pave the way for stablecoin protocols in the era of DeFi 2.0
Tower Finance officially launches on Valentine's Day: 14th of Feb, 6:00am UTC.
https://medium.com/@tower_finance/calling-all-towerians-the-time-has-come-2fa7fe9a24fc
Social Links
Twitter: https://twitter.com/tower_finance
Discord: https://discord.com/invite/KVTe6hRZK8
Medium: https://medium.com/@tower_finance
Github: https://github.com/towerfinance
Media Contact
Brand: Tower Finance
Contact Jeremy Parker, Head of Marketing
E-mail: [email protected]
Website: https://towerfinance.io/
SOURCE: Tower Finance
Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.com
‘NFTs for DeFi Natives’: OlympusDAO Launching NFT Marketplace
Frog Nation Imperiled In Wake Of CFO Scandal
The CFO Of Wonderland DEFI Project Outed As QuadrigaCX Co-Founder
Aurora : Laying the Foundation
Aurora is building a community-owned decentralized financial infrastructure that focuses on education vertical within web3 space.
Olympus DAO’s OHM down 97.97% from ATH; Can project’s 12-month action plan help?
Crypto Aside, DAOs, DeFi, NFTs, And CBDCs Could Dominate The Stage In 2022
Agora Insights — Εβδομαδιαίο Ενημερωτικό Δελτίο της Κοινότητας Olympus — Παρασκευή 17 Δεκεμβρίου…
Καλώς ήρθατε στο Agora Insights — το ενημερωτικό μας δελτίο με βάση τα δεδομένα — φτιαγμένο από Ohmies, για Ohmies!