Apr 27, 2021
Coinversation Protocol partners with Plasm Network
We are delighted to announce a strategic partnership with Plasm Network.
Coinversation Protocol is a WebAssembly-based synthetic asset issuance protocol and decentralized contract trading exchange based on the Polkadot contract chain. We use the token CTO issued by Coinversation Protocol and Polkadot (DOT) as collateral and synthesizes any cryptocurrencies or stocks, bonds, gold, and any other off-chain assets through smart contracts and oracles. Users can forge a certain synthetic asset by collateralizing CTO or DOT, such as U.S. dollars, and automatically have a long position in the asset. Users can also convert minted assets into other assets through the trading platform, so as to realize the purpose of shorting the asset and longing other assets.
Coinversation Protocol’s decentralized contract trading program has the characteristics of general DEX openness, transparency, anti-censorship, and no KYC. Due to no counterparty, it perfectly solves the problems of general DEX transaction depth and liquidity. We believe that Coinversation Protocol is a real DEX solution.
Plasm Network is a scalable, interoperable, multi-virtual machine smart contract platform on Polkadot, supporting cutting-edge Layer 2 solutions such as Rollups. With it’s 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.
Plasm Network supports WebAssembly-based smart contracts from day 1. “Though Ethereum Virtual Machine is an important function in months, we believe that the future is WebAssembly because of its cost efficiency and high performance.”
Through this partnership, Coinversation will work closely with the Plasm team to deploy and test the early version based on Plasm’s Shiden Network. 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.
About Plasm
Plasm Network is a multi-chain dApps hub on Polkadot that supports Ethereum and layer 2 solutions like ZK Rollups. Plasm aims to be a multi-chain smart contract platform that will support multiple blockchains and virtual machines like EVM and WASM.
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About Coinversation
Coinversation Protocol is a synthetic asset issuance protocol and decentralised contract trading exchange based on the Polkadot contract chain.
