Monthly Update#April 2021 Coinversation Official Twitter fans added 8k and the tweet impressions reached up 400,000

April updates are coming!

The Coinversation team has been busy this past month. We’ve got a lot of great updates for our community, including the work on the Oracle and integrate with Chainlink. Here are the updates for April.

1. AMM DEX

2. Build of the Liquidity pool

3. Code of MintC

4. Wallet connection

5. Integrate Chainlink Price Feeds Oracle Network

6. Strategic Partnership with Plasm Network

7. Strategic Partnership with Patract Lab

8. Chinese AMA Demo show

9. Chinese Name of Coinversation Protocol collection and voting

Development Updates

In April, the development team completed the deployment of two large modules and the creation of the liquidity pool, and implemented the test on Patract Labs. At the same time, the team has achieved a pre-test cooperation with Plasm Network.

1. The AMM decentralized exchange has been completed. Token transactions can now be realized on AMM.

2. We have almost finished building the liquidity pool, which will later be connected to the AMM DEX to offer liquidity. With a liquidity pool, users can make liquidity mining to win benefits as a reward.

3. As for another important module MintC, we have already finished the code on our part. In May, we will run our code to test it on Plasm Network.

4. To the front end, we have made the wallet connection. Users’ wallet management can be presented on the page, which is also important.

Integrate Chainlink Price Feeds Oracle Network

This integration attracted much attention! The retweet has achieved the highest amount up to 8k and tweet impressions reached 400,000.

Coinversation will integrate Chainlink Price Feeds as our oracle solution for accurate price data on all assets used within the protocol. By integrating Chainlink’s price reference data, we can ensure synthetic assets are issued, traded, and redeemed according to the current fair market prices.

Oracles are critical for Coinversation to source and transmit real-time asset prices on-chain that reflect current global market conditions and are immune to data or oracle manipulation.

After exploring various oracle solutions, we selected Chainlink’s industry-standard oracle network for all Coinversation synthetic asset markets. Chainlink Price Feeds provide ready-made oracle networks that are time-tested in production and proven to secure billions of dollars in on-chain value for leading DeFi apps.

Chainlink is the most widely used and secure way to power universally connected smart contracts. With Chainlink, developers can connect any blockchain with high-quality data sources from other blockchains as well as real-world data. Managed by a global, decentralized community of hundreds of thousands of people, Chainlink is introducing a fairer model for contracts.

Strategic Partnership with Plasm Network

Coinversation Protocol has finished part of the code and will deploy WASM-based synthetic assets contracts on Plasm Network in May!

Plasm Network is a scalable, interoperable, multi-virtual machine smart contract platform on Polkadot, supporting cutting-edge Layer 2 solutions such as Rollups. With its support both to Ethereum Solidity and WebAssembly, existing smart contracts can be deployed directly to the Plasm Network without any changes at the same time. Besides Polkadot, Plasm Network will be connected to other blockchain ecosystems, including Ethereum and Cosmos, through its multi-chain bridges. Plasm Network is aiming to build the best smart contract platform and become the dApp hub on Polkadot.

Coinversation will also join the Plasm Shiden Network ecosystem as an early partner of the WASM smart contract to jointly promote the execution of Polka DeFi applications.

Strategic Partnership with Patract Labs

Patract is providing solutions for the development of Parachains and DApps in the WASM smart contract ecosystem of Polkadot. Patract helps the community to design and develop on-chain contract modules and Runtime support and provides DApp developers with full-stack tools and services support, covering development, testing, debugging deployment, monitoring, data provider, and front-end development stages.

As the WASM contract ecosystem is maturing, Coinversation will give priority to WASM contract deployment, effectively improve user minting efficiency and transaction throughput, and seek possible innovative businesses for Coinversation in the future.

Chinese AMA Demo show

On 27th April, we delivered a Chinese AMA Demo show live. The development team presented a recorded video of the demo illustration, introduced the timing of liquidity mining, project roadmap in the coming several months, and Coinversation’s updates for the past few months.

1. The three essential components of Coinversation Protocol: MintC, multiple liquidity pools and the synthetic Asset

2. Change from a single liquidity pool to multiple liquidity pools

3. Test environment for liquidity mining in May

4. Partnerships with Patract Labs, Plasm Network and Chainlink

Details: https://medium.com/coinversation-protocol/coinversation-will-support-users-to-create-multiple-liquidity-pools-to-offer-amm-transactions-8b19eb31236

The Community Proposed and Voted on Coinversation Protocol’s Chinese Name

On 7th April, we launched a campaign to collect ideas about Coinversation Protocol’s Chinese name. 6 out of over 100 proposed names were selected into the last round and were voted by the community. Till 24:00 22nd April, the name ‘云顶协议’ received 699 votes, with which the proposer won the first prize with 100 CTO reward! The second is “赤兔” with 546 votes.

The official transfer of the right to use the Chinese name of Coinversation to the community. We still support everyone to use their favorite Chinese name in the community.

About Coinversation

Coinversation Protocol is a synthetic asset issuance protocol and decentralised contract trading exchange based on the Polkadot contract chain.

WebsiteTelegram | Twitter | Github

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Coinversation Protocol

Coinversation Protocol

Coinversation: Decentralized Synthetic Asset Issuance Platform on Polkadot