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Web3Wire
July 14, 2022
The Tomb Finance fork seeks to become a $DAI-pegged stablecoin, along with building its value proposition through future platform expansions.
What is Ooze Finance:
Ooze Finance is a Cronos-based project that aims to create a successful algorithmic stablecoin, $OOZE, that is pegged to the $DAI token. The project is a fork of Tomb Finance, an algorithmic stablecoin backed by the $FTM token.
Along with the stablecoin offering, Ooze Finance is also a Decentralized Autonomous Organization (DAO) and offers staking for users. The algorithmic peg is maintained by having 3 unique native tokens that work in unison: $OOZE, $OOSHARE, and $OOBOND. The Ooze Finance team claims in the project whitepaper that they are the first project of their kind on the Cronos network.
The primary focus of the project at the moment is providing a DAO-driven stablecoin that offers consistent yield returns without sacrificing on price stability. The team believes that they can achieve these goals on Cronos in particular due to the absence of similar projects on the chain.
Future Value Ooze Finance Plans to Bring
Currently, Ooze Finance’s primary focus is providing a sustainable, low-turbulence stablecoin for Cronos users. However, Ooze Finance has stated its primary goal is to become a ‘blue-chip’ project on the Cronos network. The team believes that to achieve this, they need to focus on sustainability and ecosystem expansion. This means maintaining the peg of $OOZE whilst simultaneously building out a larger platform, with the team calling the initial Tomb Finance fork a ‘launchpad’ for future endeavors.
In order to achieve this goal, the platform plans to expand into Non-fungible Tokens (NFTs), lending/borrowing, and nodes in the future. The team is also open to community suggestions and will use the $OOSHARE DAO for project decisions and planning.
Three Token System
As previously mentioned, Ooze Finance uses a combination of $OOZE, $OOSHARE, and $OOBOND to maintain a peg with $DAI. Let’s take a quick look at what each of these tokens contributes to the Ooze Finance ecosystem:
$OOZE - The $OOZE token is the stablecoin and primary token of the ecosystem. It is intended to maintain a 1/1 Time Weighted Average Price (TWAP) peg with $DAI. Its planned utility includes staking, lending, borrowing, and trading.
$OOSHARE - $OOSHARE (or Ooze Share) is used to check the value of the protocol and the trust of the $DAI-$OOZE peg. It essentially serves as a ‘share’ in Ooze Finance, with $OOSHARE holders serving as members of the DAO. Each epoch expansion rewards $OOSHARE holders with $OOZE. There is a fixed supply of 50,001 $OOSHARE tokens.
$OOBOND - $OOBOND (or Ooze Bonds) are used to monitor the supply of $OOZE during epoch contractions. When the TWAP of $OOZE falls below the peg with $DAI, $OOBONDS are available for purchase with $OOZE. All $OOZE tokens used to buy $OOBONDS are burnt, reducing the supply to lower inflation. Once the price of $OOZE has gone over the $DAI peg, $OOBOND holders can exchange the ‘bonds’ for $OOZE.
The team shared optimal strategies for holders to use when trading the three Ooze Finance tokens in their whitepaper.
Genesis Pools
Ooze Finance will be offering Genesis pools with intriguing Annual Percentage Rates (APRs) for early adopters.
The Genesis pools will run for only 24 hours. The pools have 2,400 $OOZE that is distributed to stakers over a 24-hour time frame.
As this is the first time any $OOZE is minted, users stand to receive higher value rewards. $OOZE will be above its peg with $DAI during this time, making the rewards extra valuable. Users can access the pools via the staking section on the Ooze Finance website.
Concluding Thoughts
Ooze Finance seeks to become as utilitarian of a project as possible, with the team looking to become as big of a name as Mad Meerkat Finance in terms of available products. Capitalizing on the lack of algorithmic stablecoins on Cronos, Ooze Finance has identified a niche that they will continue to build upon.
During times of market instability, being able to count on passive income is a major boon. If Ooze Finance can maintain its peg with $DAI and provide consistent returns, it could see massive growth during the downcycle.
For more information, visit the following links:
This is a paid Ask Me Anything (AMA), BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement AMA for $2000 Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the AMA.
Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2000. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2000. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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August 8, 2022
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Weekly Analysis of Binance Ecosystem (July 29 - Aug. 4)
A look into BNB Chain performance and Binance ecosystem updates from July 29 to Aug. 4
BNB Chain Key Data Highlights
Here are some key metrics of BNB Chain’s performance between July 29 and Aug. 4:
- Weekly Active Users: Between July 29 and Aug. 4, Weekly Active Users (WAU) on BNB Chain grew by 3.8% from 2.86 million active users to 2.97 million active users.
- Weekly Transactions: In the period under review, a total of 23.1 million transactions were completed on BNB Chain. This represented a 5% uptick from the 21.9 million recorded in transactions the week before.
- Average Daily Transactions: BNB Chain logged 3.31 million average daily transactions between July 29 and Aug. 4. This metric grew 5.8% from the 3.13 million recorded in the week before.
- Average Gas Fee: For all transactions executed on BNB chain between July 29 and Aug. 4, the average gas fee was pegged at 0.00079 BNB, a 3.7% decline from the 0.00082 BNB recorded the week before.
BNB Chain and Binance Ecosystem Update
Between July 29 and Aug. 5, many significant developments occurred on BNB Chain and within the Binance ecosystem. These include the announcement of the Binance Account Bound (BAB) token, adding the BOND coin as a borrowable asset on the Binance Loans platform, adding $ETC, $ETH, $LDO and $OP to Locked Savings, the Binance Card supporting $XRP, $SHIB and $AVAX, and more.
Binance Account Bound (BAB) token
On Aug. 1, Binance confirmed to its users that it was set to launch the first Soulbound Token (SBTs) built on BNB Chain in the form of Binance Account Bound (BAB). BAB will essentially be used to certify that a user has been verified on Binance. As such, users of the Binance trading application whose identity has been confirmed will be able to mint the BAB tokens directly into their Binance wallets.
BOND Now a Borrowable Asset
On Aug. 2, Binance announced the addition of BOND token as a borrowable asset on its Binance Loans platform. This comes a week after the platform announced the addition of APE tokens to its list of borrowable assets.
ETC, ETH, LDO and OP to Locked Savings
Ahead of the Ethereum Merger, Binance, on Aug. 3, announced the inclusion of $ETC, $ETH, $LDO and $OP tokens to its list of supported assets on Locked Savings.
Binance Card Supports XRP, SHIB and AVAX
On Aug. 56, Binance announced the addition of XRP, SHIB and AVAX tokens to the list of supported cryptocurrencies on Binance Card. This brings the number of tokens supported by Binance Card to a total of 14 cryptocurrencies: ADA, AVAX, BNB, BTC, BUSD, DOT, ETH, LAZIO, PORTO, SANTOS, SHIB, SXP, USDT and XRP.
Price Performance
According to data from Santiment, the price of $BNB rallied by 5% between July 29 and Aug. 4. Also, the coin’s market capitalization rose from $47 billion to $50 billion. However, despite the price uptick, the coin’s trading volume declined from 2.96 billion to 1.92 billion within a similar window period.
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August 7, 2022
Axie Infinity Holds Summer Loving Art Contest
The prize pool consists of 1,700 $AXS, 1 Mystic Axie, 6 Origin Axies, Summer Axies, and a mystery prize.
Artists Challenge
Axie Infinity, a PlayAndEarn blockchain game built on Ethereum sidechain Ronin, announced an art contest related to its ongoing summer event.
In a tweet on Aug. 4, Axie Infinity called on artists within its community to showcase their skills and get rewarded for it. The top 100 entries will win at least 1 $AXS from a pool totalling 1,700 $AXS, 1 Mystic Axie, 6 Origin Axies, Summer Axies, and mystery prizes.
The event comes at a time when battlers are in the offseason, and breeders are taking center stage to breed rare summer parts for their Axies.
xKerod, an Axie Esports player and content creator from GTI guild, decided to answer the call and enter the contest.
“I was really happy, I really love contests like these,” xKerod said. “I'm a competitor. I want to win, but share my art with everybody [at the same time]. I really want to do something unconventional, I don't really know what I will do, but it's gonna be insane with my art.”
Those who wish to join xKerod in the contest must submit a piece of art that relates to the parts of either one of the two Axies on the image above, or any six-part summer Axie. Submissions can be drawings, paintings, music, sculptures, 3D printing, or animations. Submit entries through Twitter with the hashtag #AxieSummer. Contestants then just fill an online form to finalize their entry.
Check out Axie Infinity’s Substack post for more details.
What Is Axie Infinity:
Axie Infinity is a PlayAndEarn blockchain game where players breed, collect, and play with digital pets called Axies and earn from the interactions. It’s built on Ronin, an Ethereum-based side-chain developed by Vietnamese-based gaming studio Sky Mavis. The protocol put eyes on the PlayAndEarn gaming industry back in 2021. In addition, the team is building a digital nation where each community member comes together to play, earn, and live in Lunacia.
Where to find Axie Infinity:
Website | Twitter | Medium | Whitepaper
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Ooze Finance - Building a Successful Algorithmic Stablecoin on Cronos
The Tomb Finance fork seeks to become a $DAI-pegged stablecoin, along with building its value proposition through future platform expansions.
What is Ooze Finance:
Ooze Finance is a Cronos-based project that aims to create a successful algorithmic stablecoin, $OOZE, that is pegged to the $DAI token. The project is a fork of Tomb Finance, an algorithmic stablecoin backed by the $FTM token.
Along with the stablecoin offering, Ooze Finance is also a Decentralized Autonomous Organization (DAO) and offers staking for users. The algorithmic peg is maintained by having 3 unique native tokens that work in unison: $OOZE, $OOSHARE, and $OOBOND. The Ooze Finance team claims in the project whitepaper that they are the first project of their kind on the Cronos network.
The primary focus of the project at the moment is providing a DAO-driven stablecoin that offers consistent yield returns without sacrificing on price stability. The team believes that they can achieve these goals on Cronos in particular due to the absence of similar projects on the chain.
Future Value Ooze Finance Plans to Bring
Currently, Ooze Finance’s primary focus is providing a sustainable, low-turbulence stablecoin for Cronos users. However, Ooze Finance has stated its primary goal is to become a ‘blue-chip’ project on the Cronos network. The team believes that to achieve this, they need to focus on sustainability and ecosystem expansion. This means maintaining the peg of $OOZE whilst simultaneously building out a larger platform, with the team calling the initial Tomb Finance fork a ‘launchpad’ for future endeavors.
In order to achieve this goal, the platform plans to expand into Non-fungible Tokens (NFTs), lending/borrowing, and nodes in the future. The team is also open to community suggestions and will use the $OOSHARE DAO for project decisions and planning.
Three Token System
As previously mentioned, Ooze Finance uses a combination of $OOZE, $OOSHARE, and $OOBOND to maintain a peg with $DAI. Let’s take a quick look at what each of these tokens contributes to the Ooze Finance ecosystem:
$OOZE - The $OOZE token is the stablecoin and primary token of the ecosystem. It is intended to maintain a 1/1 Time Weighted Average Price (TWAP) peg with $DAI. Its planned utility includes staking, lending, borrowing, and trading.
$OOSHARE - $OOSHARE (or Ooze Share) is used to check the value of the protocol and the trust of the $DAI-$OOZE peg. It essentially serves as a ‘share’ in Ooze Finance, with $OOSHARE holders serving as members of the DAO. Each epoch expansion rewards $OOSHARE holders with $OOZE. There is a fixed supply of 50,001 $OOSHARE tokens.
$OOBOND - $OOBOND (or Ooze Bonds) are used to monitor the supply of $OOZE during epoch contractions. When the TWAP of $OOZE falls below the peg with $DAI, $OOBONDS are available for purchase with $OOZE. All $OOZE tokens used to buy $OOBONDS are burnt, reducing the supply to lower inflation. Once the price of $OOZE has gone over the $DAI peg, $OOBOND holders can exchange the ‘bonds’ for $OOZE.
The team shared optimal strategies for holders to use when trading the three Ooze Finance tokens in their whitepaper.
Genesis Pools
Ooze Finance will be offering Genesis pools with intriguing Annual Percentage Rates (APRs) for early adopters.
The Genesis pools will run for only 24 hours. The pools have 2,400 $OOZE that is distributed to stakers over a 24-hour time frame.
As this is the first time any $OOZE is minted, users stand to receive higher value rewards. $OOZE will be above its peg with $DAI during this time, making the rewards extra valuable. Users can access the pools via the staking section on the Ooze Finance website.
Concluding Thoughts
Ooze Finance seeks to become as utilitarian of a project as possible, with the team looking to become as big of a name as Mad Meerkat Finance in terms of available products. Capitalizing on the lack of algorithmic stablecoins on Cronos, Ooze Finance has identified a niche that they will continue to build upon.
During times of market instability, being able to count on passive income is a major boon. If Ooze Finance can maintain its peg with $DAI and provide consistent returns, it could see massive growth during the downcycle.
For more information, visit the following links:
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