Rate3 Progress Update #19 (JUNE)

Rate3 ranked no.9 by Annualized Return Yield

Nodes are rewarded based on their reliability, as well as on the added value which they bring to the IOST ecosystem. We were previously awarded a Tier 2 contribution score during IOST’s Contribution Reward System for Q1, resulting in an award of 210,959 IOST tokens, of which 50% were distributed as dividends to those who have voted for the Rate3 node.

Our Rate3 Servi node has been a live block producer for the IOST blockchain for around the past 3 months now, on top of having built a cross-chain Dapp (http://istablecoin.io) allowing for stablecoin swaps between Ethereum and IOST.

Currently, our yield rank is no. 9:

Looking into the Possibility of Binance Chain Migration

For those who are not informed yet, what is Binance Chain?

“Binance Chain is a blockchain software system where Binance is just one contributor to the project. There are many other community contributors to the project. We encourage more developers and teams to build on Binance Chain, to improve it and to grow the cryptocurrency ecosystem together. — CZ

Given that Binance is one of the largest and most reputable cryptocurrency exchanges by volume, the launch of mainnet Binance Chain at the end of April caused quite a big hoo-hah in the cryptocurrency world.

One of Rate3’s core principles and fundamental beliefs is ‘inter-operability’ — where assets can be convert and transferred easily and efficiently. This is in line with the vision of Binance Chain and DEX as well: “Our vision at Binance is community-first, to increase the freedom of exchange and provide the core infrastructure services for organizing the world’s crypto” :

• “No custody of funds: traders maintain control of their private keys and funds.”
• “High performance: low latency, high throughput for a large user base, and high liquidity trading. We target to achieve 1 second block times, with 1 confirmation finality.”
• “Low cost: in both fees and liquidity cost.”
• “Easy user experience: as friendly as Binance.com.”
• “Fair trading: minimize front-running, to the extent possible.”
• “Evolvable: able to develop with forever-improving technology stack, architecture, and ideas.”

Rate3 has helped IOST to do the migration from the Ethereum blockchain to IOST:

Now, it seems Binance Chain is another huge milestone for blockchain inter-operability. In the future, users can convert ERC-20 tokens to IOST-equivalent to Binance-equivalent, and vice versa.

This is a tough and challenging endeavour- but we will keep the community updated on any progress!

Potentially Supporting DAI for IOST

One of our huge achievements in the past is how we have partnered IOST to integrate iStablecoin and notably iUSD. Users can easily swap TUSD, USDC and USDT into iUSD to be used on the IOST ecosystem, injecting much liquidity.

As part of our cross-chain tokenization protocol, we’re always looking to tokenize more assets and bring more liquidity & interopability into the blockchain ecosystem.

We’re currently looking at potentially supporting DAI stablecoins for IOST as well!

Partnerships with other Wallets, Games & Platforms

Various companies — including crowdfunding ones — have reached out to us for integration of iStablecoin. A few of them are looking to integrate iUSD- and we are working with them right at this moment.

Stay tuned to more updates on the progress!

About Rate3

Rate3 is a decentralised dual protocol for cross-chain asset tokenization and identity management. The Rate3 Tokenization Protocol is an end-to-end protocol for tokenization on both Ethereum and Stellar, while the Rate3 Identity Protocol is a protocol to create and manage a unified cross-chain identity.

Website: https://rate3.network

Twitter: https://twitter.com/officialrate3

Telegram: https://t.me/officialrate3