DOS Network+DUO Network: Boosting the Development of Tokenized Crypto Derivatives
We are excited to announce that DOS Network has achieved a strategic partnership agreement with DUO Network. Both parties will work closely together to boost and accelerate the development of tokenized crypto derivatives.
The past several years have seen the rapid growth of the crypto market. However, the quick rise of cryptocurrencies has been accompanied by a level of volatility that was unseen before, hindering further adoption by regular investors and institutions and persistently elevated price volatility has become a major obstacle for the real-world adoption of blockchain technology. The DUO Network team believes that what people should learn from traditional financial markets is that mature market instruments such as derivatives are needed to help manage volatility, increase liquidity, and hedge downside risks.
What is DUO Network?
DUO Network is a decentralized platform which enables issuance, trading, and settlement of tokenized derivatives. It mainly consists of Collateralized Autonomous Tokens (or CAT in short), Price Oracle, DUO DEX. The platform aims to reduce risks and barriers in traditional derivative transactions, through collateralized smart contracts and self-governed reference rates, thereby creating a transparent and autonomous derivative marketplace.
DUO is to solve the problems of the high volatility, inadequate liquidity, and lack of risk management tools in current crypto markets. As witnessed in traditional markets, the successful development of a derivative market is often a testament to the depth and maturity of the underlying asset class.
What is DOS Network?
DOS Network is a layer 2 chain-agnostic Decentralized Oracle Service network, providing real-time data feed and computation oracle solutions to multiple blockchains. It enables Dapps to fetch external data and execute complex computation through the decentralized off-chain network in a secure and efficient way, which will encourage more and more use cases to appear on blockchain.
The core of derivative pricing and trading is the ability to hedge derivative with the underlying and the price fix of the underlying should possess a set of desirable characteristics — relevance, timeliness, and manipulation resistance. However, blockchain empowered smart contracts are isolated from the internet world and cannot access external data directly. Thus, as one of the three major components of DUO Token Ecosystem, the data feed oracle is significantly important to DUO Network.
Why DOS Network?
Compared to other oracle projects, DOS Network has six major technological innovations which enable price data which perfectly match the desirable characteristics as mentioned before to be brought to DUO Network in a secure, reliable, efficient and scalable manner:
1. Decentralized and Reliable: A trustworthy decentralized solution without single point of failure;
2. Real-Time and Verifiable: Near real-time request fulfillment and on-chain verifiable response;
3. Compatible to Heterogeneous Blockchains: Support multiple blockchains and enable cross-chain interactions;
4. Secure and Trustworthy: Driven by Verifiable Random Engine and advanced cryptographic signatures;
5. Scalable at a Low Cost: Data query throughput and computation capacity increase as more nodes join;
6. Crypto Incentivized: Dynamic network incentivized by honest participation rewards.
With compatibility to DUO Network, the service scope of DOS Network will be dramatically expanded. DUO Network will be one of DOS Network’s earliest adopters and will be a substantial client of price feeds from the DOS Network. As DOS network’s Beta is coming online soon, DUO Network will provide full support and even join our network as node operators in the near future.
DOS Network and DUO Network will closely collaborate to reach resources-sharing and achieve win-win cooperation. Both parties will be dedicated to reducing risks and barriers in traditional derivative transactions, through collateralized smart contracts and distributed price feeds, thereby accelerating the development of tokenized crypto derivatives and promoting the large-scale adoption of Dapps.
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