“Opportunity” is here — Standard Protocol First Standalone Testnet
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“Opportunity” is here — Standard Protocol First Standalone Testnet

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“Opportunity” is here — Standard Protocol First Standalone Testnet

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Today marks the history of Standard Protocol — We’re here to announce the launch of our first Testnet built on the Substrate framework. Along with our newly scaled DevOps team, this testnet will enable the Standard Dev team to fast-track the development through a shared, well-maintained environment with commonly aligned configurations. Standard Protocol codebase will thereby be updated regularly on an ongoing basis on the testnet as well.

“Talents and products are the main factors that determine if a project could succeed and last.” said Kang, CTO of Standard Protocol.“We definitely see the rising demand of stablecoins use cases in the real, tangible world, and we will be the bridge — the bridge between CeFi and DeFi. We already have built a globalized team, partnered with a Korean bank, now all we need to do is to complete the DeFi arms. The testnet is ready, we can finally run our ideas up the flagpole.”

The testnet, named Opportunity, will be the main environment for our Tech Team to test and validate the following key components in Standard Protocol.

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Opportunity is accessible through polkadot.js.org

Oracle

Since our Web3 grant, decentralized Oracle has been paying an important role. It’s time to test this out. This test will cover the validators’ network, consensus mechanics, incentive program and most importantly, oracle data flows.

DEX, and synthetics assets

likely the bread and butter of Standard Protocol. The DEX covers AMM, liquidation module for MTR collateral, and also LP farming. While the synthetics assets testing will cover onboarding, derivatives minting as well as expanding the collateralizable types of assets for our stablecoin.

Bridges

Ethereum, LBRY Credits (LBC), Kusama, Polkadot, and even Binace Smart Chain (BSC) are in scope.

Councils and Democracies

typical DAO module from Substrate, and we will cover Defi features voting, stability fee rate, whitelisting, etc.

In the coming weeks, we will share our testing timelines, along with in-depth details of each of the above areas. More opportunities await. Stay tuned.

“The next few months will surely be exciting.”Kang smiled confidently.

About Standard Protocol

Standard Protocol is the first Collateralized Rebasable Stablecoin (CRS) protocol for synthetic assets that will operate within the Polkadot ecosystem. It is also the first and only project from Korea to be awarded a Polkadot Web3 foundation grant and prides itself on its global community growth approach.

To learn more about Standard Protocol: Join us on Telegram (Community)Telegram (Announcements)TwitterDiscord, and Clubhouse

Read more on our website and whitepaper