Standard Protocol joins Astar’s Builders Program and Receives a Grant.
Standard Protocol is a multi-chain stable coin protocol that is run by the DAO of STND holders. It uses bridges to move around from network to network and provides a scalable collateralization mechanism with create2. CDP in a form of NFT can be traded as bonds. Those who cannot pay debt with the stable coin can sell their position to people who have stable coins or other desirable assets that the seller prefers and buyers can get collaterals by paying back the seller’s loan.
Standard Protocol tries to overcome the problems of the current overcollateralized stable coin by applying a credit system with DAO to configure collateralization through a poll and council, leverage bridges to provide interoperable collateralization. A fairer liquidation mechanism where it distributes liquidations to stable coin holders who uses the service instead of a few who hold initially distributed tokens. The Standard team aims to make the project decentralized across EVM compatible blockchains and become a chain agnostic interoperable stable coin in the future.
With joining the Builders Program, Standard Protocol will receive a grant to start their deployment in our ecosystem. They already got their smart contracts ready to be deployed on our mainnet.
Standard Protocol will launch their dApp and try to bring wrapped native currency in Polkadot to Shiden and Astar Network. Also, we would like to offer synthetic crypto, where people can do call options on certain assets.
Standard Protocol goals:
- Develop wrapped native currencies coming in with Polkadot’s XCMP
- Provide Dex to setup liquidity for them with different pairs
- dApps to interact with stable coin protocol with CDP bond as NFT
- Become the first EVM dex to trade Kusama native tokens in Shiden
Milestone 1 — Deploy wrapped native currency on Shiden Network
Milestone 2 — Deploy wrapped native currency on Shibuya (Shiden parachain testnet)
Milestone 3 — Launch wrapped native currencies on Shiden Network
Read more about each milestone in their application topic:
- In the short term, Standard Protocol team would like to bring bridged assets with chainbridge from other EVM blockchains(e.g. Ethermint, Ethereum, Polygon, Avalanche, Ccala, etc.) and provide
multi-chain liquidity for the project teams inside their network.
- Support for ink! version of ERC20 to wrap into EVM with a second grant.
- In the long term, the team would try wrapping other assets bridged with different smart contract engines such as cosmwasm or solvm.
- P2P Oracle middleware is in the research stage, and there might be a third grant for it.
About the Builders program
The Astar / Shiden Network Builders Program was created to help further the development, growth, and adoption of our ecosystem by supporting teams who are building on it. The program is operated by Stake Technologies with guidance from Parity Technologies under the Builders for Builders initiative.
Who and what are we looking for?
We are always focused on the community and on product development so we have designed the program in a similar fashion — we are interested in high-quality teams that are building infrastructure/integrations to help our developers and applications that the community wants. This can be broadly split into 2 different tracks, the infrastructure track, and the application track.
Astar Network is a dApp hub on Polkadot that supports Ethereum, WebAssembly, and layer 2 solutions like ZK Rollups. Astar aims to be a multi-chain smart contract platform that will support multiple blockchains and virtual machines.
Standard Protocol joins Astar’s Builders Program was originally published in Astar Network (Previously Plasm) on Medium, where people are continuing the conversation by highlighting and responding to this story.