Zap Protocol
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Zap Protocol

Zap September Update 2019

Data Marketplace Growing; New Oracles Released

Zap token holders have access to a growing data marketplace.

This month, we added two more oracles that are compatible with the Zap protocol.

CEX.IO Oracle

-The CEX.IO oracle offers two endpoints: BtcEndpoint and EthEndpoint. These can return the latest market price conversion between BTC/ETH to USD.

This oracle was the first of many to be launched as an Initial Oracle Offering (IOO) at ioocountdown.com.

ProPublica Oracle

-The ProPublica oracle allows anyone to query it for the pass/fail status of a bill in Congress. Access to this type of data ushers in a new era for free speech capabilities; especially through decentralized engagement.

Developers utilizing this ProPublica oracle in association with Zap.org’s Event Contest template or Bonding Curve DAO template can develop a decentralized environment for political engagement where your speech is represented through staking.

For example, if I support Bill A and believe it is going to best serve the country if it passes, I can choose to stake to the curve that predicts the bill will pass in the contest template. Additionally, developers can create a decentralized lobbying firm with the DAO templates by allowing anyone to stake to the outcome they desire. For example, organizations can allow distributed communities to control the issues they lobby for as anyone can stake to the bonding curves that represent the issues they specialize in. At the end of bidding the losing curves are liquidated to fund the winning curve. Moreover, this capital is only accessible to the organizations bidding for it should they achieve the desired community outcome of, say, getting Bill A passed.

Coinvention

Coinvention and Zap.org partnered together for this year’s Co.invent Hackathon in Philadelphia’s historic Loews Hotel in September.

Hackathon attendees were able to stake the ERC-20 ZAP utility token on the projects/teams they believed would have the best project. This Hackathon used Zap’s competition templates, which any developer can adopt for his or her own decentralized competitions. After staking the ZAP token, the attendee received a secondary ERC-20 token unique to the team(s)/project(s) to which they staked the Zap. Positions could be held or sold though the decentralized exchange, ForkDelta, up until the end of the hackathon. After the winner was determined, an oracle informed the smart contracts of the result. The staked ZAP for the losing teams were then paid out proportionally to the holders of the winning team’s token. All this was self-actuated through smart contracts.

This hackathon use-case has a lot of appeal to developers and is another area of development we are continuing to focus on. Ultalizing bonding curves means no market makers/exchanges and full liquidity. Therefore, those developers who would like to take their token beyond this competition, and even beyond the Zap platform in dapps of their choosing, can easily do so. As well, attendees who want to support a team/project can simply purchase their token and use the bonding curve to help support their efforts, such as spending their token thus releasing capital to the project.

In addition to the Hackathon, the Zap team spoke and participated at the next day’s convention.

Sr. Oracle Developer, Max Inciong, participated in a panel discussion providing his insights oracles for data and other tokenized services.

As well, co-founder Nick Spanos presented Zap.org to those in attendance in his speech and took part in a host of video interviews with various outlets.

Every day, more and more people learn about the power of bonding curves matched with tokenization. Zap’s dynamic protocol and platform has attracted and is attracting increasing third party commercial interest and a great deal is still lined up. As our platform and its potential continued to develop far beyond our initial whitepaper, we are being presented with and are diligently working through various opportunities and development goals to present a new timeline.

We look forward to presenting the new vision we have for this current and much more advanced Zap protocol.

Telegram: t.me/ZapOracles

Twitter: @ZapOracles

Facebook: @OfficialZapStore

Discord: discord.gg/pvHzemX

Medium: The Zap Project

LinkedIn: Zap

GitHub: The Zap Project

The fine print: All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them. The links included herein are being provided as a convenience and for informational purposes only; they do not constitute an endorsement or an approval by Zap of any of the products, services or opinions of the corporation or organization or individual. The Zap project, Synapse Foundation and affiliates bear no responsibility for the accuracy, legality or content of these external sites or for that of any subsequent links.

The Synapse Foundation is an Isle of Man non-profit organization with offices in Zug, Switzerland. The Synapse Foundation was formed to build, promote, and oversee the Zap project. The organization is committed to community engagement and sponsoring user participation within a world of decentralized data. Zap is an intellectual property owned by the Synapse Foundation. Nothing herein, nor any related documentation issued by the Synapse Foundation or Zap project team, shall constitute legal, tax or investment advice.

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