By Shelly Melancon (Switzerland)
Today, the Balancer project, revealed the launch of a new pool (MSP) reward project. The launch is in partnership with Lido, an autonomous staking network.
Pools For Highly Correlated Tokens
MSPs are liquidity pools created for highly correlated tokens such as wrapped tokens. Users can take advantage of low-priced swaps without having to use separate swaps. Also, they can swap between other similar assets, including the newly launched ones.
Part of the announcement states that this move will help optimize trade quantities without weakening the existing pools. The stETH/wstETH is the first of them, but it’s for Ethereum stakers. The governance tokens of Balancer and Lido will be the rewards for this pool, and in the first launch period, 2600 BAL and 26,000 LIDO will be up for grabs.
The Balancer’s purposed website will be used for allocating these rewards, and the introductory rewards will be by the last week of August 2021. Last month, the project launched stable pools that have lesser spreads and slippage than the competition. Thus, the company became the only automated market maker (AMM) with three separate liquidity pools.
This month, unstoppable domains Chief Executive, opined that the market cap for the stablecoin industry would have exceeded $1 trillion within the next four years. But, he was also worried about volatility due to the rapid increase in the number of stablecoins. He further said that if this rate continues at this rate, there might be increased oversight on it which might slow down its rate and prevent it from reaching the $1 trillion market cap sooner.
Also read:American Army Deploys Blockchain Tech
In other news, US army engineers are trialing blockchain technology for improved tactical data capability. The trialing of the blockchain tech, among other proprietary technologies being tested, is currently going on at the army base in new jersey. One of the lead engineers, Humza Shahid, revealed that the main objective of this phase of testing is for soldiers to have a proven way to validate their information.
Shahid further revealed that modern warfare tactics require armies to bolster their infrastructure to avoid being susceptible to cyberattacks. For example, an attack on the network’s control can lead to misinformation to the end-users. Hence, using blockchain can secure the network’s control against such cyberattacks. Thus, commanding officers can make crucial decisions without fear of misinformation.
Authenticating Data
Army engineers were also testing other technologies that can aid information integrity. Through these technologies, engineers were also developing ways army commanders can utilize machine learning to identify any strange information.
The majority of the tests were to achieve data integrity using blockchain technology. Two years ago, the French army (through its cybercrime department) became the first government-owned platform to deploy blockchain technology when it launched Tezos.
The first aspect of deployment was to use a smart contract for the validation of judicial expenses. The French army was taking care of its expenses through a Europol-cryptocurrency technology. But the funds could be traced and audited.
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