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 (attributable to COVID). The occasion’s crew tried to make sure that the hackathon could be a singular expertise for all individuals. They launched a 3D on-line area that related 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 prompt as a constructing block with assist from Waves Jedis: Rob van de Camp and Inal Kardanov. Second, the Waves platform was used for issuing awards to successful groups. Non-fungible tokens (NFTs) for digital artwork had been created on Waves and despatched to individuals as a particular prize.”
The Waves crew took half within the hackathon as one of many 105 competing squads, Zhuravlev confirmed. He additionally talked about that the problem that the crew tried to unravel was offered by the Dutch police: Inclusive Security Communities that “coordinate residents in emergency conditions.” (Notice: for extra particulars on this replace, verify here.)
Waves has additionally teamed up with UNION for asset safety.
UNION can 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) answer with a broad market attain is the right platform for constructing UNION’s full DeFi safety. We stay up for advancing the business collectively in 2021 with an inclusive, protected, and accessible portal.”
Sten Laureyssens, Strategic Advisor for the Waves Affiliation, remarked:
“The [steady] development of USDN allowed us to establish demand for superior threat 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 by Gravity can be a vital-for-growth milestone to cut 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.Change, together with assist for the UNN/USDN pair on UNION’s Geyser liquidity pool.
Moreover, UNION can be utilized in Waves’ merchandise primarily based on the lending mannequin. For instance, customers of those merchandise can 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 under a selected threshold, the UNN safety product can be known as to fill the portion of the OC protected whereas the borrower pays the remaining distinction.”
UNION may even be working carefully with Waves on issuing a sensible contract safety instrument for Gravity early subsequent yr. The product will intention to supply extra safety to the know-how, “ruling out human components, corresponding to node collusion.” Gravity presently makes use of “mathematically confirmed multi-party computation (MPC) safety for its belongings held in decentralized custody.” UNION will provide “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 selected 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 threat administration instruments.
As noted in a weblog put up by Waves Protocol:
“UNION’s platform allows 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.”