September is over as well as Q3! During this quarter RCN introduced its protocol’s latest version and a couple of new features and integrations. Here are the latest news!
RCN Protocol v4.0 Diaspore
During September RCN introduced its protocol’s fourth version — codename “Diaspore” — , which presents a modular structure that divides its smart-contracts into several layers, allowing the incorporation of several new features such as Installment Loans and Collateral-backed Loans. In addition, the new design increases the system’s scalability potential and paves the way for the development of new functionalities.
Before being deployed on mainnet and becoming the RCN Credit Marketplace’s new Engine, Diaspore was submitted for a third-party audit by Nomic Labs and updated according to the suggestions presented by their report.
Uniswap Listing
Another milestone reached on Q3 was the RCN token’s listing on the decentralized exchange protocol Uniswap. Thanks to its more than 60 listed currencies and above 20 million USD in total value locked, Uniswap will allow a wide array of ERC-20 tokens to be used for lending, borrowing and collateralizing loans on the Credit Marketplace.
This integration has made possible the listing of the DAI and USDC stablecoins as lending currencies, which you can already find on the platform. In addition, thanks to Uniswap you can now instantly exchange RCN for any token listed on the protocol, without using order books or needing an account and paying only a small 0.3% fee per trade.
Multi-Oracle Factory
Near the end of the quarter another of the protocol’s key components was updated: RCN’s Multi-Oracle Factory, a smart-contract responsible for accurately providing real-time exchange rates for all the currencies available on the Credit Marketplace.
The Factory includes rates for RCN, ETH, BTC, DAI, USDC, MANA, USD and ARS, which are calculated as the median value of the inputs received from several data providers, including Binance, Huobi, Bittrex, Upbit Global, HitBTC, Kraken, Gemini, Uniswap and Ripio. This mechanism improves the reliability of all the exchange rates used on RCN, while adding transparency to the process of obtaining them.
Next in Q4
During the next quarter, the project’s focus will be set on a general update of the Credit Marketplace’s UI/UX and the final details of the development of Installment Loans and Collateral-backed Loans. Stay tuned for more exciting news in the following months!
Never miss one of RCN’s updates!
- Visit its Official Website & check the Credit Marketplace.
- Follow it on Twitter, Facebook & LinkedIn.
- Join its community on Telegram.
- Check its code on Github.
- Reach it at contact@rcn.finance & helpdesk@rcn.finance.
