Dotmarketcap is very excited to introduce our new Learn & Earn series, which aims to increase the knowledge of users about different projects in the Polkadot ecosystem.
The fourth project to participate in our Learn & Earn was Standard Protocol - the first Collateralized Rebasable Stablecoin (CRS) protocol for synthetic assets in the Polkadot ecosystem. 20 lucky users have earned $50 in DOT. We hope you enjoyed learning about Standard Protocol this week. In case you missed out, here's a summary of what we have covered.
1. Introducing Standard Protocol:
Built on Substrate, Standard Protocol is the first Collateralized Rebasable Stablecoin (CRS) protocol for synthetic assets, and will operate in the Polkadot ecosystem. It introduces a new paradigm for liquidity aggregation. In contrast to the previous generation of algorithmic stablecoins, Standard rebases its stablecoin supply in each era. It will act as the catalyst for the financial activities of other parachains, to enable leveraged trading and arbitrage via a built-in AMM. It will also include a protocol for synthetic asset markets by way of a decentralized oracle.
2. Tech Explain:
Delivering collateralized, interoperable Digital Assets on Substrate, Standard Protocol establishes a reserve bank with decentralized governance. It issues a collateralized stable coin valued at 1USD, which has an elastic supply determined by a rebase mechanism.
MTR – the stablecoin generated by the protocol’s vault’s issuance ratio is fully controlled by governance within an epsilon range. Besides, STND builds an oracle module to share block rewards with oracle providers. Substrate enables developers to split block rewards to other network participants in every era.
Standard Protocol deposits liquidated collateral to its AMM pair so that Meter holders can purchase other liquidated digital assets. STND uses a built-in AMM module to provide liquidation in a more market efficient way where liquidated assets are utilized to conduct arbitrage trades.
STND is implemented using Parity Substrate and has 9 runtime modules built using pallets available in the ORML
3. What makes Standard Protocol special?
Different from many other projects, Standard Protocol has 3 different tokens, including MTR, LTR and STND.
Normally, tokenomics is considered as the guidance to understand how much an asset might be worth in the future. So let’s take a look at Standard Protocol’s tokenomics to see its value.
Meter (MTR) and Liter (LTR) are created for stable purposes so they won’t have token distribution. Standard will walk through the token distribution and the release schedule of Standard (STND) token which total supply is 100M STND.
4. Stablecoins comparison
Different from other algorithmic stablecoins with no collateralized assets, Standard Protocol provides an algorithmic stablecoin and an index of digital assets within its vault which can adjust the supply of stablecoin automatically when the price of these assets increases or decreases.
By rebasing the price in each era, the total supply of the stablecoin Meter (MTR) and the amount that can be issued are adjusted to peg Meter (MTR) to the value of USD.
Besides, Standard also builds an oracle module to share block rewards with oracle providers. By building on Substrate, they can split block rewards to other network participants in every era.
And the most outstanding solution is that Meter(MTR) holders can purchase other liquidated digital assets through a build-in AMM module. This is a market efficient way where liquidated assets are utilized to conduct arbitrage trades.
5. Summary:
DotMarketCap has completed the "Learn & Earn" Series 4 with Standard Protocol, with the results summarized below:
• 6541 total participants.
• 3737 people finished the quiz.
• 20 lucky people received $50 in DOT each.
Here is the list of lucky winners:
NOTES:
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Lucky winners will receive the confirmed email (hello@dotmarketcap.com) and the instructions to get the rewards.
- Rewards will be sent to winners 7 working days.
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