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  2. 32
    How DAO promotes transparency and how it will be revolu... The traditional organization suffers from several drawbacks making it an ineffective working model. Due to a lack of a better platform, people have to adjust to substandard quality of work. However, with the addition of Decentralized Autonomous Platforms, people can rejoice as organizations are forced to up their game and work according to the latest industry standards.  DAOs were introduced because of smart contracts and blockchain technology. It allows the organization's users to enjoy complete transparency and unparalleled benefits. One of the successful examples of how a DAO is supposed to operate is PhoenixDAO. PhoenixDAO has launched internal testing of DAO that will ensure complete security, transparency, and autonomy.  Centralized Organizations  Centralized organizations often fall victim to the principal-agent dilemma in which a member of the organization is entitled to make decisions for other members. The majority of the traditional organizations work following a pyramid mechanism in which the person at the top enjoys all the power.  It creates a hierarchy according to which everything works. A person at any level has to follow the directions of the person above themselves. While this model can ensure smooth working ideally, it rarely happens.  In such an organization, an employee's relationship with the company is defined by a legal employment contract. The contracts are designed to give complete control over employees' future to the organization and avoid any liability.  Also, a centralized organization is restrictive as the hierarchy does not allow the person at a lower level to work at their best potential. Another drawback for the centralized organization is that it cannot integrate AI-powered solutions seamlessly into its functioning.  Decentralized Autonomous Organization (DAO) A DAO, as the name suggests, promotes decentralization and autonomy in an organization. Such organizations aim to tackle the shortcomings of a centralized organization and create a better working environment.  In a DAO, no single entity has control over all the decisions. All the tokens or shareholders have governing rights and collectively make decisions about the company's future. Every member of the organization works independently and has complete control over their actions. In a DAO, people interact based on a self-imposed or a smart contract. There is no legal contract binding a user to another employee to give them complete control over their actions. DAO works better than a centralized organization as all the transactions are transparent, public, and immutable as they are recorded on the blockchain.  A DAO is capable of automating the functioning of an organization using AI technology without human management. Theoretically, every interaction between the organization and users can be expressed using a smart contract. Ideally, an AI-powered DAO can automate all management and administrative functions without the requirement of an individuals input.  PhoenixDAO: A Decentralized Ecosystem PhoenixDAO is a decentralized ecosystem that operates on Polygon level 2 scaling solution alongside Ethereum Network. PhoenixDAO is a self-sustaining governance platform that helps manage the Phoenix ecosystem. The Phoenix ecosystem contains three separate solutions that work collectively to create a truly decentralized and secure platform. The three current solutions are: Phoenix DAO Staking dApp Events dApp PhoenixDAO sets the new standards for DAOs and acts as the perfect example of how decentralized organizations triumph over traditional organizations.  Every PHNX spending decision is voted by the DAO community and posted on the running budget page to ensure transparency. It is a self-sustaining platform that relies on the revenue generated by its products, such as the dApp store. Users can earn the PHNX token by participating in the governance. Anyone across the world can participate in the governance of the DAO by staking their PHNX token into contracts.  PhoenixDAO recently announced internal testing of DAO to ensure the smooth functioning of the platform and the app. Platforms such as PhoenixDAO strengthen the ideology of a DAO and will promote the automation of simple tasks. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.  

    ai 14 Jun
  3. 33
    Daily Income, Regardless Of What The Crypto Market is D... The headlines have been everywhere lately - just within the last week major news outlets have published claims like 'Cryptocurrency [mining] consumes more electricity than the entire annual energy consumption of the Netherlands' and 'Bitcoin has a carbon footprint comparable to that of New Zealand'.While these claims go back years, Elon Musk recently tweeting that Tesla will suspend accepting Bitcoin payments because of environmental concerns brought these claims to the forefront.Excluded from these reports are the strong arguments saying these claims are unfounded. Oddly, none of the reports attempt to answer the only question that matters - how much *additional* energy was generated because of crypto mining? Instead, they treat excess energy generated by power plants and used by miners as energy created for the miners - even though that energy was already created, and would have been wasted otherwise.Unfortunately, the public was presented only one side of the story, and now many see cryptocurrency as harmful to the environment. But The Solar Oil Project represents a step in the right direction for energy production, helping to lower emissions and reduce environmental hazards - and it's all powered by crypto...Beyond Oil™ is excited to announce the launch of a revolutionary tokenization platform – The Solar Oil Project.  The technology platform aims to be the largest tokenized commodity production and exchange mechanism in the world. The platform supports local oil well operators to deploy innovative technology solutions that dramatically reduce the carbon footprint of oil production while recycling old oil wells that are abandoned or underutilized. This ‘oil well recycling’ program accomplishes multiple goals from an economic and environmental perspective:Reduce cost of production and maintenance by almost 60% Greatly reduce carbon intensity of production (as much as 90%!)Eliminate need for new oil well drillingRecycle and rehab old oil wellsEliminate eco-hazard of chemical leaks from abandoned oil wellsThe Project uses the Blockchain network to distribute tokenized oil production via ERC-20 token rewards to the users. It uses one of the latest oil extraction technologies, the “Air Lift Technology” (ALT). The Innovation eliminates soil pollution and makes the entire process eco friendly.  Solar Oil Platform is Already LIVE and Fully Functional!The Trillion Dollar Problem...In the Southern US alone, more than 100,000 Low-Volume Oil Wells are either abandoned or underutilized. These wells can quickly become an ecological hazard and cost close to a Trillion Dollars in clean up across North America. The current estimate for just the cleanup in the US state of Texas alone comes in at over $117 Billion USD. What SOP Intends to do differently...SOP supplies Operators and Owners with the technology and the expertise to replace the old equipment with solar-powered pumps that are economically viable, efficient, and automated. With this, the wells are given a fresh breath of life into profitable production. This is particularly effective for the well sites that are older and have minimal profit margins with traditional technologies.How the Process Works...After review by members of the Solar Oil team, selected oil well sites are equipped with eco-friendly pneumatic pumps, solar panels (where applicable), air compressors, and remote monitoring capabilities. The combination of these technologies results in a modern production mechanism that brings these abandoned wells back into active production. Anyone Can Participate, And Enjoy The Rewards...Perhaps the most attractive part of the project is how it encourages participation of all interested users. Anyone can create a free account on Solar Oil Project’s website (solaroil.io) and purchase the Solar Oil Access Token (SOAX). This non speculative utility token then gives the user access to the platform where they can assign the access tokens towards the work on selected oil well sites. The revenue generated from the token sales is used to then update the wells in the selected portfolios.Because of this, the token does not meet requirements to be classified as a security, meaning US investors who typically cannot participate in the launch of new crypto-based projects are able to invest in Solar Oil.In return, users who participate in this manner receive a portion of the oil production achieved in the form of the SOPX token – The Solar Oil Production token. SOPX distribution is in proportion to how many Access tokens a user assigned to the oil portfolio. The SOPX rewards may then be traded on the Commodity Exchange for other commodities, currencies, or crypto assets. This elegant solution allows for equitable rewards distribution for any users that help protect the environment while resulting in profitable energy resource production.About Beyond Oil™Beyond Oil, led by Chief Strategy Officer Hitesh Juneja, aims to transition the energy sector from fossil fuels to more sustainable green energy overtime in a manner that is practical, and does not cause the economic or ecological harm that sudden and forced changes might cause. To make this happen in a practical manner, Beyond Oil is broken up into three phases with Phase 1, being the Solar Oil Project - a rare and revolutionary application of technology to address one of the major ecological challenges of our time while providing oil commodity backed token rewards!The goal in this phase is to attract a large number of participants through an attractive, profitable business model.On Phase 2 – The Open Commodity Exchange:The oil production from the Solar Oil Project is issued to the stakeholders in the form of the ERC-20 token - SOPX (Solar Oil Production). The SOPX is pegged to the global WTi spot price and is immediately liquidable through the Solar Oil Commodity exchange to a host of other assets such as Gold, Silver, Natural Gas, as well as tens of equities and cryptocurrencies. This represents the first major blockchain development allowing for open exchange between true commodity-backed crypto-assets and other fiat-based assets.  The goal of this phase is to establish a robust financial ecosystem that new disruptive technologies can be onboarded into. On Phase 3 – We are focusing on Emerging Disruptive Technologies:Hemp-bioplastic replacementHydrogen based transportMicrobial Fuel cellsAnd additional emerging technologies that do not have established profitable business models will be guided to maturity during this phase. For more Information about SOP, kindly get in touch via https://solaroil.io or https://solaroil.io/contact-us.Company AddressBeyond Oil17918 Blueridge Shores Dr.Cypress, TX 77433United States ------Information Provided via Press ReleaseDistributed by Global Crypto Press AssociationBreaking Crypto NewsSubscribe to GCP in a reader

    14 Jun
  4. 68
    Mars Ecosystem - A new decentralized stablecoin paradig... In 2020, the market cap of decentralized stablecoins increased by 20 times. Despite a significant increase, the current market share of decentralized stablecoins is less than 10%. The future growth potential will be even more significant. Mars Ecosystem, a new project aiming to overcome the challenges of decentralized stablecoins, is pleased to confirm it has successfully raised $2 million in seed funding. The round attracted investment from several major blockchain funds, including Continue Capital, Parallel Ventures, Kernel Ventures, and YBB Foundation, among others. The team will now use the funds to help deliver the milestones on its ambitious 2021 roadmap, including an imminent Genesis launch.   The fundamental problems of decentralized stablecoin protocols At present, various stablecoin protocols face trade-offs in terms of price stability, degree of decentralization, and scalability. There are also two fundamental problems in common: one is the positive externality problem, and the other is the integration problem. The positive externality problem of stablecoin protocols: The costs of producing and maintaining stablecoins are incurred by the protocol and its users (minters, share holders, bond holders), but the majority of the value comes from the transaction of stablecoins in other DeFi protocols and is captured by these DeFi protocols. The stablecoin protocol cannot capture the value created by it like other DeFi protocols, so the supply of stablecoins from the stablecoin protocol is always less than the real demand for it in the crypto economy. The integration problem of stablecoin protocols: The demand for stablecoins created by the stablecoin protocol is highly dependent on the degree of integration of stablecoins with other DeFi protocols other than the stablecoin protocol. If the integration of stablecoins with other DeFi protocols is ignored, then the supply growth and stability of stablecoins will be affected.  Mars Ecosystem's solution to the fundamental problems Mars Ecosystem is an innovative decentralized stablecoin model that solves the problems of positive externalities and integration. The ecosystem combines the creation and use of stablecoins within its own system through three products: Mars Treasury, Mars Stablecoin, and the Mars DeFi protocol. The Mars Stablecoin is a decentralized, price-stable, capital-efficient, and highly scalable protocol. Furthermore, Mars Treasury has the potential to become the central bank of the DeFi world.  Mars Ecosystem has the following unique innovations: Treasury assets classification mechanism  Mintage control mechanism Anti-"bank run" mechanism The integration of DeFi protocols and stablecoin into the same system  Treasury assets classification mechanism When minting USDM, users need to place $1 worth of Mars Treasury whitelist assets into the Mars Treasury. The whitelisted assets accepted by the Mars Treasury are divided into the following levels: a) Stablecoin b) Digital gold (BTC) c) Layer-1 leaders (ETH, BNB, etc.) d) DeFi Blue Chips (UNI, AAVE, etc.) e) Mars Ecosystem Token (XMS) The volatility of assets from level 1 to level 5 gradually increases. Mars Treasury determines the maximum acceptable proportion of various assets in the treasury according to the volatility of multiple assets. The greater the volatility of an asset, the lower the maximum acceptable proportion in the treasury. The design of the Treasury assets classification mechanism is a solution to the integration problem of the stablecoin protocol. By accepting mainstream DeFi protocol tokens into the treasury to mint Mars stablecoins, Mars treasury can accumulate mainstream DeFi protocol tokens. Holding mainstream DeFi protocol tokens, Mars Ecosystem aims to cooperate with mainstream DeFi protocols and participate in their governance, especially when it comes to a proposal that is favorable to the integration of Mars stablecoins into these DeFi agreements. Mintage control mechanism The maximum circulating supply of USDM is determined by the market cap of XMS. Every 3 minutes, the system calculates the average market cap of XMS in the past 3 minutes, and divides this average market cap by a parameter called XMS Support Ratio which is determined by the protocol governance. The number thus obtained is defined as USDM Supply Cap. In the next 3 minutes, users can only mint USDM up to this USDM Supply Cap. If the XMS support ratio is 3, then the market cap of XMS will always be 3 times the USDM Supply Cap minted. This value capture model can capture the growing demand for stablecoin USDM like traditional seigniorage model or governance token burn model. At the same time, when the demand for stablecoin decreases and the users redeem stablecoins to governance tokens and sell governance tokens on the market, the mintage control mechanism ensures that the market cap of governance tokens is sufficient to support the stablecoin price stability. Intuitively, there is a governance token of at least $3 backing every stablecoin in circulation.  Anti-"bank run" mechanism The anti-"bank run" mechanism is guaranteed by the asymmetry of minting and redeeming assets. The asymmetry of minting and redeeming assets means that users place the Mars Treasury whitelisted assets into the Mars Treasury when minting USDM, and get XMS when redeeming USDM, so the assets submitted to the Mars Treasury during minting and the assets obtained when redeeming are different. The symmetric design of Frax and other stablecoin protocols can cause "bank runs", because from the perspective of game theory, redeeming stablecoins as early as possible is the optimal strategy for all users. The asymmetric design of Mars Ecosystem makes redeeming stablecoins as early as possible no longer an optimal strategy for all users: users who redeem USDM early can have better liquidity when selling XMS than users who redeem USDM later. But all users who are eager to sell XMS must bear the slippage loss when trading on Mars Swap; because Mars Treasury is the main provider of XMS liquidity, these slippage losses are captured by Mars Treasury, and the ratio of the value of Mars Treasury’s reserve assets to the amount of USDM owned by the users will rise, so users who redeem later or never redeem can exchange their USDM for greater value. This anti-"bank run" mechanism prevents the protocol from collapsing even in the most extreme cases. The integration of DeFi protocols and stablecoin into the same system Compared with other stablecoin protocols, Mars Ecosystem includes a variety of DeFi protocols in addition to the stablecoin module. Transaction fees generated by the Mars stablecoin circulating on these Mars DeFi protocols can be captured by the Mars Ecosystem and provide valuable support for the Mars Ecosystem governance token. For example, Mars Swap is an AMM DEX similar to Uniswap. Mars Swap provides mining incentives for LPs and transactions of Mars stablecoins, thereby incentivizing users to use Mars stablecoins on Mars Swap. This design will incentivize early use cases to help alleviate the integration problem of the stablecoin protocol. On the other hand, users can stake Mars Ecosystem governance token in Mars Swap to obtain Mars Swap transaction fees. This design is a solution to the externality problem of the stablecoin protocol. Roadmap to Mars Mars Ecosystem has committed to an ambitious roadmap covering the next year of development.  On June 14, the project will launch IDOs on several major BSC launchpads including BakerySwap, Launchzone and Helmet.insure. There is also an IMO (Initial Mars Offering) opportunity on Mars Ecosystem website where small investors can enjoy better investment terms than VCs and institutions. Mars Swap will also be launched on BSC on June 14, so all the governance token holders can stake at Mars Swap to earn transaction fees. A Genesis Launch event will be held in late June. The purpose of the Genesis event is to onboard the first batch of users to mint stablecoins in Mars Ecosystem and to earn free rewards. In Q3 2021, Mars Stableswap, which is an DEX for stablecoins, will be launched. The system will also be expanded to Ethereum and Solana. More info can be found at Twitter @MarsEcosystem. Disclaimer: This is a sponsored press release, and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

    13 Jun
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