Vladimir Zhuravlev, a Gravity Tech and Waves Affiliation developer, notes that for a number of years, the Odyssey hackathon (held within the Netherlands) had provided alternatives for software program engineers to collaborate on numerous initiatives.
Zhuravlev revealed that this yr, Odyssey was hosted on-line for the very time (as a consequence of COVID). The occasion’s group tried to make sure that the hackathon could be a novel expertise for all contributors. They launched a 3D on-line enviornment that linked all 105 groups, jedis and problem hosts in a single digital area, Zhuravlev famous.
“The Waves Affiliation was honored to take part within the occasion in a number of facets. First, the Waves protocol was urged as a constructing block with help from Waves Jedis: Rob van de Camp and Inal Kardanov. Second, the Waves platform was used for issuing awards to profitable groups. Non-fungible tokens (NFTs) for digital artwork have been created on Waves and despatched to contributors as a particular prize.”
The Waves group took half within the hackathon as one of many 105 competing squads, Zhuravlev confirmed. He additionally talked about that the problem that the group tried to unravel was supplied by the Dutch police: Inclusive Security Communities that “coordinate residents in emergency conditions.” (Notice: for extra particulars on this replace, test here.)
Waves has additionally teamed up with UNION for asset safety.
UNION shall be offering its collateral safety product to varied lending protocols that use Waves’ Neutrino USD (USDN) and sensible contract safety to the inter-chain communication protocol Gravity.
John Liu, CPO of UNION, said:
“Waves’ full decentralized finance (DeFi) resolution with a broad market attain is the right platform for constructing UNION’s full DeFi safety. We look ahead to advancing the business collectively in 2021 with an inclusive, protected, and accessible portal.”
Sten Laureyssens, Strategic Advisor for the Waves Affiliation, remarked:
“The [steady] progress of USDN allowed us to establish demand for superior danger administration and asset safety merchandise. UNION’s mission to supply full-stack DeFi safety that decreases the barrier to entry for retail, whereas superior sufficient for institutional buyers, is precisely aligned with our method. As we step into 2021, our integration via Gravity shall be a vital-for-growth milestone to scale back multi-layered dangers in our ecosystem.”
UNION and Waves will work on liquidity provision packages such because the UNN/USDN liquidity pool on Uniswap, a UNN/USDN pair on Waves.Alternate, together with help for the UNN/USDN pair on UNION’s Geyser liquidity pool.
Moreover, UNION shall be utilized in Waves’ merchandise primarily based on the lending mannequin. For instance, customers of those merchandise shall be requested to decide on over-collateralization safety (OC) for “a premium.” As famous within the announcement, “within the case of a liquidation set off, ought to the OC ratio fall beneath a particular threshold, the UNN safety product shall be referred to as to fill the portion of the OC protected whereas the borrower pays the remaining distinction.”
UNION can even be working carefully with Waves on issuing a sensible contract safety instrument for Gravity early subsequent yr. The product will intention to supply further safety to the expertise, “ruling out human components, comparable to node collusion.” Gravity at the moment makes use of “mathematically confirmed multi-party computation (MPC) safety for its belongings held in decentralized custody.” UNION will supply “an extra safety layer for customers of Gravity’s cross-chain system,” the announcement confirmed.
Deposits through Gravity, USDN-related (decentralized purposes) dApps or future Waves lending protocols will “provoke a immediate so as to add a particular safety product for a premium or forgo the safety earlier than finalizing the deposit.” UNION will “render an intuitive integration and UI for the product, simplifying the asset safety course of for Waves customers,” the announcement famous.
UNION is a full-stack safety platform that goals to decrease prices and dangers in DeFi by providing a modular infrastructure for the event of superior protection merchandise and danger administration instruments.
As noted in a weblog publish by Waves Protocol:
“UNION’s platform permits the creation of asset safety merchandise primarily based on natural market demand, starting from discretionary sensible contract protection to complicated derivatives on credit score default dangers and protection for impermanent lack of liquidity suppliers. UNION’s platform is composable and decentralized, providing secondary markets for cover and an inclusive no-KYC ecosystem.”