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Find New|Coinversation Protocol: Polkadot-based synthetic asset issuance agreement and contract trading platform



"Find New" is a blockchain project observation project launched by Jinse Finance. It covers the development of projects in various fields of the industry, and the specific design includes project overview, technological progress, fundraising situation, etc., and strives to present you a collection of popular and trendy projects. .

Coinversation Protocol is a synthetic asset issuance agreement and contract trading platform based on the Polkadot contract chain. It uses the CTO and Polkadot DOT issued by the project as collateral to synthesize any cryptocurrency or stock through smart contracts and oracles. Off-chain assets such as bonds and gold. By staking CTO or DOT, users can mint some kind of synthetic asset, such as US dollars, and they will automatically become longs of the asset. Users can also convert minted assets into other assets through the trading platform, so as to achieve the purpose of shorting the asset and longing other assets. The assets minted by users are the liabilities corresponding to the entire system, and the proportion of each user's liabilities has been determined at the time of mortgage, so that the respective profits can be calculated. Because such a mortgage pool model does not require a counterparty, it perfectly solves the problems of liquidity and transaction depth in DEX.

Security company: NFT project @primordials_ Discord server was attacked: Golden Finance reported that according to CertiK monitoring, the NFT project @primordials_ Discord server was attacked. Community users please do not click on the link, mint or approve any transactions. [2022/10/26 16:39:18]

The mission of Coinversation Protocol is to become an open financial platform integrating stable currency, synthetic asset issuance, mortgage lending, decentralized contract exchange and Polkadot bridge. Among them, the stable currency is a very important component and will become an important infrastructure in the Polkadot ecosystem.

SBF: Cryptocurrency is about to usher in regulatory transparency: On September 12, SBF, the founder of the cryptocurrency exchange FTX, said: Cryptocurrency is about to usher in regulatory transparency. Cryptocurrencies fall because the "dollar rises." [2022/9/12 13:24:35]

For example, Synthetix, the leading synthetic asset platform in the DeFi world, currently issues hundreds of millions of dollars in “Synths” synthetic assets. The most important of these is sUSD, a stablecoin under its platform, with a market cap of nearly $100 million.

For the first time since August 2021, Axie Infinity’s SLP burning rate has exceeded the minting rate: News on July 16, Axie Infinity (AXS) enthusiast @maxbrand99 tweeted that since August 4, 2021, the Axie Infinity team has burned For the first time, Smooth Love Potion (SLP) exceeds the amount minted. Since June 26, 2022, the burn rate of SLP tokens has been surging. At the same time, in the past 10 days, this process has been closely related to the decline of SLP minting rate.

It is worth noting that on July 14, Axie Infinity started its special "breeding" event - Lunacian Summer. Players who participate in the event can get Axies exclusive "skins". (U.Today)[2022/7/16 2:17:47]

The stable currency created by Coinversation Protocol is decentralized, multi-asset collateralized, supports cross-chain, and supports real-world asset access through a bridge, that is, the synthetic asset cUSD generated by users through collateral, and its currency value is always equal Valid for $1.

The biggest difference between it and the previous decentralized stable currency is that it does not need to pay stability fees or interest, but is issued in the model of a synthetic asset mortgage pool.

Therefore, the cost that users pay to generate cUSD with collateral through Coinversation’s collateral pool is determined by the relative growth rate of all synthetic assets in the system, rather than artificially stipulated in previous decentralized stablecoins (such as MakerDao’s Dai).

Such costs are more market-oriented, and are also equivalent to the inflation rate of stablecoins for world assets. The incidental benefit of this is that if users use Coinversation as a mortgage lending platform and borrow cUSD stablecoins through collateral, users do not need to pay interest like traditional platforms. The only cost that users pay for borrowing money is the profit and loss determined by the relative increase in synthetic assets.

In short, Coinversation's stablecoin cUSD, synthetic assets in Coinversation, and decentralized contract exchanges together constitute a complete DeFi system in Polkadot's cross-chain system, which can meet users' various needs for DeFi.

Founded by a team of PhDs in economics studying in the United States, the core members come from companies such as Ali, Ant Financial, and Google. More than 70% of the team has a master's or doctoral degree, and there are many technicians with more than ten years of development experience and early developers of Ethereum. Coinversation has received funding from the Web3 Foundation in Q4 2020.


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Find New|Coinversation Protocol: Polkadot-based synthetic asset issuance agreement and contract trading platform

"Find New" is a blockchain project observation project launched by Jinse Finance. It covers the development of projects in various fields of the industry, and the specific design includes project overview.

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