March 22, 2022 - 3 min read
SupraOracles is pleased to announce its collaboration with Standard Protocol, the first self-sovereign stablecoin protocol for synthetic assets that is collateralized and rebasable, and embraces and visions the truly decentralized form of Web3. Standard Protocol will function in multichain ecosystems, including Metis, Ethereum, Shiden, and will further expand to other networks this year.
Standard Protocol design empowers its user with full control over its monetary system through a multichain DEX, a decentralized Oracle, and a non-reserve design for CDP using NFT.
It provides a collateralized rebasable stablecoin and works as an index of digital assets with its vault, unlike first-generation algorithmic stablecoins with no collateralized assets. Standard Protocol creates an oracle module to share block rewards with oracle providers. Substrate allows developers to divide block rewards with other network members in every era.
Oracle linkage and sharing with SupraOracles enables Standard Protocol presence on multichain chains as Standard Protocol is a multichain protocol. Their DEX is now launched on Ethereum, Shiden (Polkadot ecosystem), Metis, later expanding to Polygon for real-time accurate price feed. Standard Protocol will soon launch a stablecoin Meter ($USM) with a unique liquidation process, depositing liquidated collateral to the USM-AMM pair, so a reliable, accurate price feed would be very critical to them. Standard Protocol will receive a precise pricing feed from SupraOracles.
Hyungsuk Kang, CTO, and Co-founder of Standard Protocol commented:
“We are really excited to be working with SupraOracles. While we expect millions of consumers due to our integration partners, we cannot compromise on quality. SupraOracles will help us achieve our goals with its scalable and trustworthy Oracle toolsets.”
Joshua D. Tobkin, CEO and Co-founder of SupraOracles, commented:
“The Standard Protocol presents a new paradigm for liquidity aggregation, which necessitates the speedy transfer of credible data sources throughout the network. We’re eager to work with Standard Protocol on integrating reliable data feeds for real-world use cases.”
SupraOracles is dedicated to linking the web3 environment and traditional capital markets. Our aim and ambition are to provide a new Oracle toolset to the modern developer community so that they can efficiently construct, manage, and deploy data applications with top-notch performance, agility, and robustness.
Our novel initiative is aided by skilled people with extensive knowledge of randomness research, consensus methods, investment banking, real-time data-driven services, traditional stock exchanges, digital securities, DeFi, DLT, Blockchain, and big 4 consultancies.
With the aid of our highly supportive developer community and a growing number of relevant partners, we are devoted to solving the general Oracle challenge as well as the future of the finance sector.
Standard Protocol is the first Self-Sovereign Stablecoin protocol that embraces and visions the truly decentralized form of Web3.0. Empowered by its interoperable DAO ecosystem, Standard Protocol empowers its users with full control over its monetary system through a multichain DEX, a decentralized Oracle, and a non-reserve design for CDP using NFT.
We’re also a recipient of the Polkadot Web3 Foundation Grant, Polygon #DefiForAll Fund, Metis Ecosystem Development Program Grant, and Shiden Network Builders Program Grant.
Standard Protocol strives to innovate as the next-generation digital settlement currency and prides itself on its global movement in self-sovereign finance.
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