Standard Protocol joins Plasm Network

Standard x Plasm Network

Standard Protocol x Plasm

Standard Protocol introduces itself as the new standard for synthetic assets. Standard Protocol is a collateralizable synthetic stablecoin like DAI but with elastic supply like AMPL. The total supply is defined by oracle pricing. The supply is adjusted to maintain a stable value of 1 USD.

The Polkadot ecosystem has been missing out on a parachain level focused oracle chain. Oracles are too centralized, and there is no incentivized ecosystem to distribute them. Standard offers a fair block reward to oracle providers with an 8:2 ratio between validators and the providers. Substrate enables developers to split block rewards to other network participants in every era. Oracles are used for generating synthetic assets from the stablecoin MTR (Meter).

Standard Protocol will focus on providing oracle information from its parachain to plasm for enabling synthetic asset generation such as virtual stocks and commodities. Also, Standard protocol aims to be a chain-agnostic protocol, so it will implement a smart contract version of the protocol in plasm so that it can be composable with other plasm dApps in its parachain.

Meter (MTR) is the stablecoin that is synthetically generated by the protocol’s standard system. Holders can use MTR as a medium of exchange, to buy bonds or farm tokens in the standard system.

Liter (LTR) is a liquidity provider token that represents a share from the AMM module. Similar to LP tokens in Uniswap, they can be burned in the AMM to receive deposited assets. Liter (LTR) token can be used for yield farming.

Standard (STND) is a network and governance token to use Standard protocol. STND holders can stake to get a block reward and participate in on-chain governance. STND is used as a transaction fee.