Ocean Protocol dey launch an MLP on POP! with AllianceBlock
USD 200,000 worth of Ocean’s & AllianceBlock’s tokens dey locked inside the MLP, wey go benefit the community
Ocean Protocol and AllianceBlock dey launch a Mutual Liquidity Pool on POP!, a platform wey go allow two different token projects to objectively display mutual trust and commitment to each other by to lock their respective tokens together to create a trustless Mutual Liquidity Pool (MLP). Anyone fit join and participate in the MLP on POP!
POP! go provide projects with a unique approach to objectively demonstrate their commitment to the partnerships while also dey provide benefits to their communities. This dey done by to create an MLP, whereby users fit participate directly through Single-Sided Liquidity Provisioning (SSLP) or through Standard Liquidity Mining. The MLP go cement Ocean’s and AllianceBlock’s already strong partnership while e dey simultaneously provide our communities with a unique opportunity to reap the rewards of our partnership.
For the creation of our MLP, we don lock together USD 100,000 worth each of our native tokens (OCEAN and ALBT) through POP!’s smart contracts, wey do dey audited by CertiK. In other words, we don create an OCEAN/ALBT Liquidity Pool worth USD 200,000 at the time we dey write on Uniswap (V2), wey go reflect on POP!’s platform for user participation. The MLP dey run for 85 days from May 25th, 2021 at approx. 13:00 (11:00 UTC) CEST till August 18th, 2021 at approx. 13:00 CEST (11:00 UTC).
How e dey work?
The MLP dey live and active on the POP! Platform, so OCEAN and ALBT holders fit already provide their tokens as single-sided liquidity onto the MLP marketplace. By to participate in the MLP as a farmer, holders go receive rewards in 3 tokens: POP!, OCEAN, and ALBT. In addition, if users experience Impermanent Loss (IL), a portion of am go dey mitigated through POP!’s unique Rebalancing Mechanism.
Take a look at POP!’s detailed Gitbook to get better understanding of the intricacies wey dey behind POP!
Building on AllianceBlock’s and Ocean’s partnership
AllianceBlock dey building a data pipeline on top of Ocean where user data like KYC/AML/KYB go dey stored and users go dey able to use role based access control to give access and revoke access to data. This na part of AllianceBlock’s mission to bridge Traditional Finance and DeFi applications to provide illiquid assets short term financing to high-net worth individuals at private banks.
DeFi P2P lending applications and traditional equivalent applications go dey connected to the AllianceBlock product, and all lenders wey dey interested in participating in a specific financing go need to do KYC/AML and dey validated by AllianceBlock’s regulatory and compliance tools. Storage and access control to data for lenders go use Ocean Protocol technology, with lenders to fit grant and revoke access to their data.
Through Ocean Protocol, retail banking APIs go dey able to connect to DeFi in a way wey dey compliant with financial regulations such as PSD2, wey result in new, exciting open banking solutions.
About Ocean Protocol
Ocean Protocol’s mission na to kickstart a Web3 Data Economy wey reach the world, to give power back to data owners and to fit enable people to capture value from data to better our world.
Data na new asset class; Ocean Protocol dey unlock its value. Data owners and consumers dey use the Ocean Market app to publish, discover, and consume data assets for secure, privacy-preserving fashion.
Ocean datatokens dey turn data into data assets. This go enable data wallets, data exchanges, and data co-ops by to leverage crypto wallets, exchanges, and other DeFi tools. Projects dey use Ocean libraries and OCEAN in their own apps to fit help drive the Web3 Data Economy.
The Ocean token dey used to stake on data, to govern Ocean Protocol’s community funding, and to buy & sell data. Hin supply dey disbursed over time to drive near-term growth and long-term sustainability. OCEAN dey designed to increase with a rise in usage volume.
Visit oceanprotocol.com to find out more.
POP! na platform wey allow 2 projects to objectively display mutual trust and commitment to each other, by to lock their respective tokens together and creating a trustless Mutual Liquidity Pool (MLP). In addition, e go grant POP! users the opportunity to fit provide single-sided liquidity, in the form of their favorite token, by matching them with another POP! user and to add their joint liquidity into the MLP.
Powered by Faculty Group, POP! dey aim to set new golden standard with regards to partnerships, and how them dey perceived in the digital asset ecosystem.