📍 The Ardana Protocol's Price & Emergency Oracles: What You Need to Know 💪 ℹ️ To be alerted when a liquidation ratio is breached, the Ardana Stablecoin Protocol requires constant real-time collateral asset price information. 🤩 🔗 bit.ly/3ys4pS6🏝 To protect the protocol from price oracles being compromised, we've employed a proxy oracle known as the Oracle Gate Module (OGM) as an intermediary. The OGM serves as a layer of defense between the oracles and the protocol by delaying the price feed by one hour. 🌐 The OGM serves as a layer of defense between the oracles and the protocol by delaying the price feed by one hour. This delay allows Emergency Oracles or an Ardana governance vote to individually freeze compromised oracles. ✨ WIthout this protection measure, collateral could be manipulated, for example withdrawn from a vault under false pretences. The operations of Emergency Oracles and price delays by the OGM are also managed by Ardana governance.
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Hey all, we have an event that we'd like to announce-
The Malt team would like to invite everyone to come join us this Saturday, December 18th, for Malt's first Open Bar AMA Event!
We'll be opening the floor to our community to ask any questions about the protocol, favorite drinks, the crypto market, or whatever comes to mind (within reason)!"
We'll be kicking things off at 6PM UTC in the Malt discord voice channel, and we'd love to see you there!
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This week's ASPA Focus Series is out! 📌
✨ Welcome to the 8th edition of this series. In this post, we have summarized the roles and missions laid out by our latest ASPA joiners: BonafideADA, SAPIO, OZZY, LOOPS & HRMS/HRMS2 💥
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We have just rolled out the new leveling system in the Malt discord.
Unlike many projects we will not require you to level to get a whitelist spot (that's just frustrating, right?).
I'm sure we can dream up some perks for people who level up though 👀
https://t.co/YEF6BsE29r
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😲 As we approach the end of the year 2021, you might be curious about how our roadmap will look in 2022. If so, worry not — we have your back. 📈
🌠 Here's a beautiful illustration (by an Ardanian) that pictures how we're striving to make 2022 a memorable year: 👆
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Our dual tokens #SCPT for governance and #SPAY for earning rewards whilst watching free TV #scripttv #blockchaintv #freetv
To find out more about our tokens' utility, please downlaod our whitepaper from http://www.script.tv/
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🔑 Various Auction Types Explained: 👇 🌐 bit.ly/3GBbGSE🔸 Collateral Auctions - Liquidated vaults will have their collateral auctioned to liquidators. Liquidators repay the debt by bidding $dUSD (or any Ardana Stablecoin) to buy the vault’s collateral at a discount. 🔸 Reserve Auctions - In these auctions, assets in the reserve are sold at a discount in exchange for $dUSD or other Ardana stablecoins. The received dUSD is either burned or used to repay undercollateralized debts in the event of liquidity crisis.💙
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Starting tomorrow at 7pm UTC we will be doing a daily giveaway in our Discord. We will give away some DAI and whitelist spots every day for the next 3 weeks. Come hang out in discord for a chance to win https://discord.gg/malt
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New reddit campaignStakes:- 100 to 500 Karma: 4 stakes per week - 501 to 1000 Karma: 8 stakes per week - 501 to 1000 Karma: 12 stakes per week - 2501 to 5000 Karma: 16 stakes per week - 5001+ Karma: 20 stakes per week Rules:1. Your Reddit account must have at least 100 Karma to participate. 2. Must follow the Script network Reddit account: https://www.reddit.com/r/scriptnetwork/3. Make 2 posts, and 5 shares (Crosspost) per week about script network 4. Only 1 post, share, upvote, per day. Submit report weekly to receive stakes. 5. Upvote each post that you will share (Crosspost). 6. Post and share on these Subreddits and other related to crypto; r/Cryptopumping r/CryptoMoon r/AltcoinTrader r/cakedefi r/opensea r/BlockChain, r/Ethereum, r/EtherMining, r/gpumining, r/cryptomining, r/EtherMining r/BlockChain, r/crypto_currency, r/CryptocurrencyICOs, r/Crypto_General, /r/cryptocurrencynewico, r/NewCryptoinfo, r/ICOAnalysis, r/ico, r/BitcoinAll, r/icocryptoo Report Format:You must post all your POST links and repost in the following format every week, otherwise your bet will not be rewarded: Bitcointalk username: Number spreadsheet : Reddit Profile Link:
Week 1 post Link 1 post Link 2 post Link 3 post Link 4 post Link 5
Week 1 Post Link 1 Post Link 2
Please make your report as a new post every week in the bounty thread, but do not update the old post. FORM JOIN
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You asked, we answered! 🗣 Q: Why #Ardana❓ A: We are the only stableswap DEX (Danaswap) and Collateral Debt Position (CDP) provider on #Cardano, and the only one to have aggregated these two products under one project that we are aware of. 🤩 (1/3)
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The Innovations______________________________________________Liquidity ExtensionThe Malt Protocol extends the liquidity pool using capital controlled by the protocol. This capital can be deployed by the protocol to ensure stability. Learn MoreRewardsRewards are paid in DAI instead of Malt. This can be thought of as the protocol realizing profit for you. Controlling profit taking at the protocol level is extremely powerful. Learn MoreArbitrage AuctionsThere are no debt expiring coupons. Instead Malt introduces arbitrage auctions. Think of it like a juiced up swing trade with a guaranteed limit execution at peg. Learn MoreThe Innovations______________________________________________FAQWhat is Malt?
Malt is the new generation of algorithmic stablecoins. As a speculator you can make money by staking Malt liquidity provider tokens and earning yield or by purchasing arbitrage tokens in an auction when the price of Malt falls below peg.
Malt’s focus is building a system of incentives up from first principals. Instead of trying to stop or slow down speculator behaviour with arbitrary reward lockups or taxations, Malt puts the speculator first and makes it as easy as possible to speculate on the protocol while minimizing investor risk. By aligning the incentives of a speculator with the protocol itself, everyone can win.
What is liquidity extension?
Every liquidity pool in the Malt ecosystem gets its own stabilizer node. This stabilizer node is in charge of taking actions to keep price stable. This includes minting and selling Malt as well as triggering arbitrage auctions.
Liquidity extension is capital that is owned and controlled by a stabilizer node. It is capital that is actively used by the stabilizer node to help stabilize the price and lives outside of the main liquidity pool but will be automatically deployed in response to market changes. Where does the liquidity extension capital come from and what does the stabilizer node do with it?
When the price of Malt is above peg, the stabilizer node will mint Malt and sell it directly into the liquidity pool to drop the price. This sale generates profit, some of which is retained by the stabilizer node as liquidity extension and the rest is immediately distributed as rewards to bonded LPs.
The stabilizer node is continuously growing its liquidity extension in times of growing demand. When the price drops below peg the stabilizer node uses its liquidity extension to buy back and burn Malt to contract supply and therefore increase the price back to peg.
The amount of Malt purchased and burned is dynamic and will be influenced by distance from peg, amount of auction participation, and how frequently the price diverges from peg.
This usage of the liquidity extension to buy and burn Malt is how the protocol ensures a meaningful supply contraction when price falls below peg, even when accounting for premiums paid to auction participants.
Why does Malt pay rewards in DAI?
Most farmable stablecoins pay rewards in the protocol’s native token. The problem with this is speculators will then need to sell the tokens to realise profit. Those profit-taking flows are often beneficial because they bring the price back down to peg. Unfortunately, there are also times where that profit taking is undesirable and drives price below peg.
Malt understands that speculators are motivated by realising profits, so we decided to just control the profit taking flows at the protocol level and pay speculators in the token they desire anyway. Everyone wins - the protocol remains stable and the speculators get paid in the token they want.
Will Malt ever pay in anything other than DAI?
Yes! The rewards are paid in DAI right now because the only liquidity pool that we will support at launch is Malt/DAI.
In the future rewards for staking LP tokens will be paid in the “Other” token in a Malt/Other pairing. So you are free to choose which token to be paid in by providing liquidity to the pool with the token you want.
This naturally incentivizes more liquidity in the most desirable Malt trading pairs and greater liquidity leads to greater stability.
What are “Arbitrage Auctions”?
When the price of Malt in a particular liquidity pool falls below peg it will trigger an arbitrage auction for that pool. This is a Dutch-style auction that will start around $1 and will steadily drop over the course of 30 minutes. The auction ends as soon as either the time is up or a predetermined amount of money is pledged to the auction.
At any point anyone can pledge to the auction. Pledges are always in the “Other” token in the Malt/Other pool. In return for the money pledged the user will receive arbitrage tokens. Everyone who pledges to the auction will pay the same price regardless of when they bid - that price being whatever the price is when the auction ends. Because the price is always dropping you are guaranteed to get at least the price of the auction at the time you bid.
Each arbitrage token will automatically be redeemed for you by the protocol into the “Other” token at an equivalent value of $1 per token. This will happen when the pool’s stabilizer node has enough capital to cover the redemptions. The redemption happens automatically to avoid any issues with bots frontrunning the claiming of the tokens.
The tokens purchased in an arbitrage auction will never expire and will be redeemed in a first-in, first-out scheme (older auctions get covered before new ones, but each auction has tokens covered pro-rata; when 10% of tokens can be covered each user has 10% of their tokens redeemed).
Why do you call it an Arbitrage Auction?
You can think of the arbitrage auction like a swing trade back to peg where the trader gets an additional premium to incentivize the trade and the protocol will execute their exit when it reaches peg.
A typical arbitrage is a risk free trade that locks in a price discrepancy across exchanges or across correlated assets. The Malt auction is an arbitrage across time (the price is lower than its fair value peg price and should return to peg). But this is not risk free like a typical arbitrage opportunity as there is an opportunity cost of holding the arbitrage tokens until they are redeemed.
Malt allows the market to decide the premium for holding this risk. As the auction price drops, it creates a gap between the auction price and the market price of Malt. That difference represents a premium above simply buying Malt at market price and swing trading it back to peg. Taking such a swing trade also doesn’t guarantee a good exit at peg as bot-driven frontrunning risk exists.
The arbitrage auction allows buyers to take that swing trade back to peg with an additional premium and an exit fill at peg. designed byDisclaimer: "The managers of this campaign and author of this post are not part of the entity. Bounty managers are providing their services for tracking and evaluating participants in the campaign for the purpose of reporting results to the projects core team. Therefore, you are joining the bounty at your own risk. Please do your own due diligence as past performance does not guarantee future results."
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Ardana has quite a number of partnerships and large investors. Of course this has a positive impact on project development. Has Ardana's DEX been released now? Perhaps this will be the first DEX built using the Cardano blockchain
No exact date yet but hopefully in Q1 2022 stay tuned for our latest news here and follow all Ardana social media, Q1 will be coming soon it won't be long thank you for your attention
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👋 Hey, Ardanians! Have any questions that you would like our CEO to answer directly? 📅 Join us for our 14th community call at 18:00 UTC on 6th December to speak live with our team! Be sure to set a reminder! ⏰ 🌐 bit.ly/3ogi1fP
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Ardana comunity
0/ 🇬🇧 English @ardanaofficial 1/ 🇪🇸 Spanish: @ardanaofficial_sp 2/ 🇷🇺 Russian: @ardanaofficial_ru 3/ 🇯🇵 Japanese: @ardanaofficial_jp 4/ 🇹🇷 Turkish: @ardanaofficial_tr 5/ 🇻🇳 Vietnamese: @ardanaofficial_vn 6/ 🇨🇳 Chinese: @ardanaofficial_ch 7/ 🇵🇹 Portuguese: @ardanaofficial_pr 8/ 🇮🇩 Indonesian: @ardanaofficial_Id 9/ 🇰🇷 Korean: @ardanaofficial_ko 10/ 🇩🇪 German: @ardanaofficial_de 11/ 🇮🇳 Hindi: @ardanaofficial_hi 12/ 🇹🇭 Thai: @ardanaofficial_th 13/ 🇱🇰 Sri Lanka: @ardanaofficial_sl
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where can i see your contact?
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