Today we are launching a bridge that will connect Obyte with other networks and enrich Obyte’s trading environment with a huge number of tokens imported from other chains.
Unlike other cross-chain bridges, the Counterstake bridge is truly decentralized and universal at the same time. Decentralization means that user funds are protected from theft by hackers and insiders, the bridge cannot be shutdown or restricted, and any tokens can be transferred over the bridge in a permissionless manner.
Initially, the bridge connects 3 networks: Obyte, Ethereum, and Binance Smart Chain, but can be implemented for other programmable chains as well. …
When we introduced Bonded Stablecoins in September 2020, the concept was absolutely new to the market and we had no experience that would guide our design decisions. Now, after having the stablecoins in the wild for more than 6 months, we release an updated version that addresses the problems we discovered.
The parameters we chose for the first version of Bonded Stablecoins require specific behavior from the holders of T1 (growth) tokens in order to keep the peg. This behavior is supposed to be profitable, but only when there is belief among traders that the price will soon correct to…
We are launching two rewards programs to address one of Obyte’s most pressing issues — liquidity.
Over the years we’ve been focusing mainly on product development and decentralization. We achieved full decentralization in July 2020 and built one of the strongest and most versatile dapp development platforms in the industry — the only platform that is DAG based and therefore better suited for DeFi dapps, without blockchains’ inevitable front-running issues. We introduced the most advanced stablecoins in the industry and were the first to build stablecoins powered by bonding curves, we launched a few other DeFi products or helped them…
To increase awareness of the recently launched Bonded Stablecoins, we are introducing a referral program. The program rewards people for introducing new participants to try and use these stablecoins, that are some of the most technologically innovative in the cryptocurrency space.
It works like any other referral program: you get a referral link and share it over the various channels that are available to you:
New users who click your link become your referrals. If they buy and hold stablecoins or other tokens, both you and your referral get rewarded every week:
Following the launch of Bonded Stablecoins, it became clear that while the interest (stable+) and growth tokens can be easily exchanged to and from the reserve currency, the liquidity of stable tokens is lacking. To improve the trading environment of these tokens, we are launching incentives for liquidity providers who add liquidity to Oswap. The incentives will be funded from undistributed funds, i.e. this is a new distribution method.
With the launch of Bonded Stablecoins, we also started a new method of distributing Bytes.
We want new users who are still outside the Obyte community to try and use Obyte and products that exist in the ecosystem, Bonded Stablecoins being one of the major such products. We want the onboarding process to be as easy and frictionless as possible.
That’s why we created a Buy interest tokens page that allows buying interest tokens with other cryptocurrencies for users who don’t have GBYTEs yet and want to avoid the hassle of buying them through an exchange.
Bonding curves and their applications in DeFi have been a topic of active research lately. Here, we introduce a novel design of algorithmic stablecoins that is based on bonding curves and solves several issues in previous stablecoin designs. We call this new kind of stablecoins bonded stablecoins. (See a PDF version of this article for a better display of mathematical formulas that is unfortunately impossible on Medium.)
Unlike their predecessors, bonded stablecoins maintain the peg and don’t risk becoming insolvent even in the event of abrupt depreciation of the reserve currency, don’t require users to overcollateralize, and come with a…
In March we published a what’s next article about the upcoming decentralized token registry and now it is ready to be used in an intuitive user-friendly interface.
The Autonomous Agent that powers the registry has been in operation and used by ODEX decentralized exchange and Ostable stablecoins for a long time, and what is launched now is a user interface that allows to easily view, add, support, and dispute registered names. …
To make it clear how DAG is different from blockchain, we prepared a side-by-side comparison of the two technologies by several criteria.
Blockchain. Through a small number of block producers (e.g. mining pools).
DAG (Obyte). Totally decentralized/disintermediated.
Blockchain. Coupled with acceptance, see above.
DAG (Obyte). For some transactions — automatic and follows from the DAG structure, when partial order exists.
When there is no partial order, relies on a small number of order providers (witnesses).
Blockchain. Composition of blocks, i.e. inclusion or non-inclusion of every individual transaction.
DAG (Obyte). …
Autonomous Agents (AAs) are now on mainnet and we are starting to roll out applications that AAs make possible. This post is about stablecoins. As the design that we developed is different from all other stablecoins known in crypto so far, we will use “discount stablecoin” as its name to note its difference. We’ll explain below why the term “discount” is applied in this implementation.
Attention to stablecoins has been growing lately and the largest stablecoin, Tether, is currently occupying the 4th position on CoinMarketCap. Among their benefits are their convenience as a stable and familiar unit of account, which…
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