BOSAGORA signed an agreement for strategic affiliation. Standard Protocol, a stablecoin protocol on Nov 24th.
The first Polkadot collateral rebasable stablecoin protocol
The Standard Protocol (STND) is the first collateralized rebasable stablecoin for synthetic assets operating within the Polkadot ecosystem.
Unlike other existing stablecoins, the standard protocol strengthens price competitiveness by using a realistic model, providing solutions to unsustainable operation, absence of exclusive oracle, entry barrier for collateral asset auction, and difficulty in tracking, by creating a Collateralized Rebasable stablecoin (CRC).
Currently, they have launched a decentralized exchange on the Shiden Network and Ethereum mainnet, and are scheduled to expand to other mainnets including Polygon and MetisDAO.
Standard Protocol as Polkadot, Polygon’s choice
Polkadot is a project developed by the web3 foundation based in Switzerland and is one of the most notable projects after Bitcoin and Ethereum. Polkadot is a “sharded blockchain network” that connects multiple blockchains to a single network using a sharding model with different characteristics to exchange data with each other and process transactions with added security. Because of this, we propose to users a next-generation blockchain that is interoperable, scalable and secure in the pursuit of creating a user-friendly and decentralized future internet.
Polygon Network is a protocol for maximizing the scalability of Ethereum. Polygon Network, which is currently leading the NFT and Defi fields, is evaluated as the most promising among Ethereum-based Layer 2 projects.
The Standard Protocol is linked with the Polkadot and Polycon networks to implement a multi-ecosystem stablecoin. It is also recognized for its technological prowess and value, such as receiving a grant from the Polkadot web3 foundation, the Scheiden Network Builder Program, and Polygon’s #DefiForAll fund.
Recently, JPYC, a stablecoin linked to the Japanese yen, was registered in the standard protocol’s own DEX (Decentralized Exchange), strengthening the Defi (Decentralized Finance) area.
The key agreement is as followed:
- DEX development linked with BOSAGORA MetaChain
- Support BOA Liquidity Providing and Farming at Standard Protocol DEX
- Liking up BOA MetaChain Standard protocol DEX
- Assist BOSAGORA’s expansion to Yearn Finance Ecosystem project ecosystem
- Others that may require cooperation.
Convergence of MetaCity and multi-ecosystem stablecoins
In MetaCity, which BOSAGORA is leading, all ecosystems in the real economy are linked to the virtual world. In the virtual world where the blockchain is grafted, users will be able to conduct real economic activities transparently, rationally and stably in the virtual world without time and place restrictions.
Cooperation with multi-ecosystem stablecoins such as the Standard protocol strengthens the ecosystem expansion between the BOSAGORA Metachain and various other networks, and users will be able to use various coins in the BOSAGORA Metachain more conveniently.
BOSAGORA is in discussion for partnerships with various blockchain projects to strengthen the network ecosystem and we will update you as soon as we sign them in.