Generative Art Platform Fxhash Secures $5M in Seed Funding Round Led by 1kx
The Seed Round Fxhash, the groundbreaking generative art platform and marketplace, has successfully closed an oversubscribed $5 million seed fundraising round. Spearheading this investment initiative was 1kx, an early-stage crypto-focused venture capital firm renowned for its strategic ecosystem growth investments. Founded in 2021, Fxhash has emerged as the...
Yupana Finance Integrates Acurast Oracle For Price Feeds
To be able to verify values of the tokens that are involved in both the loans and collateral, there should be a trusted decentralized data provider.
An oracle like Acurast provides exactly that. Acurast sources and structures the data in a way that is provided ready for use to Yupana smart contracts on the Tezos blockchain.
By: XTZ News
24 November 2022
Disclaimer
Not Financial Advice: No content on this website constitutes investment, financial, legal, or tax advice. Users should not construe any such information as a recommendation to buy, sell, or hold any investment or security or to pursue any particular investment strategy.
Yupana is a decentralized lending platform. As a lender you can provide Tezos-based tokens as a loan to other users and earn interest on those tokens. As a borrower, you can provide Tezos-based tokens as collateral and take out a loan for any purpose.
In other words, using Yupana, lenders provide liquidity and receive passive income, while borrowers take over collateralized loans. In turn, liquidators are incentivized to close insufficient collateral positions to keep the platform running.
To be able to verify values of the tokens that are involved in both the loans and the collaterals, there should be a trusted decentralized data provider. An oracle like Acurast provides exactly that.
Acurast sources and structures the data in a way that is provided ready for use to Yupana smart contracts on the Tezos blockchain.
Yupana currently supports the following assets: TEZ (Wrapped XTZ), cTEZ, kUSD, tzBTC, uUSD, uBTC, USDT and SIRS.
Acurast
As a decentralized oracle, Acurast provides off-chain data and computations for web3 developers to help them build without borders.
Value monitoring
Acurast provides real-time tracking of blockchain applications’ real-world value with data sourced from decentralized sources worldwide.
The platform’s interoperability makes it suitable for web2 infrastructures like REST API, IoT, etc., while not compromising on its multi-chain first approach. With Acurast’s single abstraction layer, web3 platforms get to solve their off-chain data needs.
Data security
As a decentralized infrastructure, Acurast breaks away from the normative central database idea of web2. The permission-less marketplace vanguards a seamless experience that’s primarily premised on security.
As a blockchain platform, Acurast is safe and secure for transmitters and developers. Both data consumers and transmitters don’t have to worry about security.
Data vending
Data vending is a massive web2 business model that is also successfully replicated in web3, thanks to Acurast.
With the product, data-sourcing jobs are created based on developer needs, transmitters execute to precision, and rewards are transferred.
The data vending marketplace on Acurast thrives thanks to the multi-chain infrastructure, which also doubles as a trusted execution environment.
Decentralized finance (DeFi)
Decentralized finance facilitates secure lending and borrowing of digital assets on smart contracts.
With the global DeFi ecosystem growing rapidly in the past year, Acurast’s large-scale service provision plays right into an immediate application with dApps like Yupana finance for the supply of off-chain market data.
Disclaimer
Not Financial Advice: No content on this website constitutes investment, financial, legal, or tax advice. Users should not construe any such information as a recommendation to buy, sell, or hold any investment or security or to pursue any particular investment strategy.
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