MULTI/DEX — the world's most advanced DeFi — will be released in game mode later this week, together with source code for ICP community eval. Players to get $100k dummy assets to compete. Will be offered to the NNS for autonomous/ownerless execution. *True* DeFi that mimics CEXs.
Good news for the tokenomics of $ICP ✅
DFINITY has proposed to increase the minimum for the ICP to XDR exchange rate used in reward computations to 1 ICP ≥ 2 XDR from currently 1 ICP ≥ 1 XDR.
This affects node rewards, which are specified in XDR amounts, which then get converted into ICP amounts before being minted.
The present proposal increases the minimum conversion rate to 1 ICP ≥ 2 XDR. This is warranted to protect ICP tokenomics, as the vast majority of node rewards that are minted get sold on the market.
If the proposal gets adopted, node provider rewards may be lower in future months, depending on the ICP price.
Basically, since Node rewards are denominated in XDR and minted in ICP, if the price of ICP continues dropping, that leads to more minting (I spoke about this concern in my previous videos).
If the new proposal will pass, the inflation rate should reduce.
I will break this down in a separate video. Stay tuned.
Today we’re open-sourcing one of the most ambitious financial infrastructure projects built in Motoko and designed to be $ICP compatible.
The Digital Asset Exchange features:
• Atomic Delivery-versus-Payment settlement
• Deterministic batch auctions
• Custom ICRC-compatible asset standards for regulated assets
• Native land registry support
• Invariant and property-based testing
Instead of relying on clearinghouses and multi-day settlement, assets and payment move together in one indivisible step: either both succeed, or neither does.
Proud to have contributed to this effort alongside @mercaturaforum and @meneseprotocol as a joint effort part of The Forum MENA biggest open source initiative.
Open source. Built in MENA. Available for everyone to build on.
https://t.co/v9fWU6o082
#ICP #Motoko #OpenSource #RWA #DeFi #MENA #Blockchain
@Pjpinkcat@histories_arch Well some informations that I have tell me he is burried in Macedonia. Locals know but mainstream want to distract. It is not time for revelation jet. 😉
5 years from now, it will seem absurd to think Web3 services were being built on e.g. Amazon Web Services
Everything will be 100% on blockchain.
Everything will be tokenized.
Everything will be a DAO.
Internet Computer | #ICP#WorldComputer
This is to the $ICP community 🫡
Your support has been amazing!
Since the launch of ICP as collateral:
• 0.5 BTC
• 9,500 ICP
have been added as collateral!
And:
• $24k in stablecoins have been borrowed against it
@dominic_w@dominic_w Hey Dom, you should create something like Binance. This way token Price woud go parabolic, which is good for all some would sell, but could invest the money to create Apps. The token price so low is not good for anyone. I hope you will do something in that matter. 😉
Hello MULTI/DEX 🔥 Should DFINITY release the most powerful DeFi application the world has ever seen?
What's cool about it? Here are some factoids, the craziest at the end:
1. It runs on an ICP cloud engine (soon everyone can have one) and is 100% network resident and tamperproof.
2. It is genuinely multi-chain, with no bridging hassles for users (users can deposit straight into their accounts, and withdraw directly, from the native chains of tokens).
3. It is order book based, but also provides a traditional swap interface, which swaps arbitrary assets by routing across the underlying markets.
4. It supports both spot trading, and margin trading that lets traders go long and short with leverage.
5. It has an AMM (Automated Market Maker) that uses Internet Computer outcalls to determine outside prices, then delayed matching against AMM limit orders to prevent arbitrageurs draining liquidity, as can occur with traditional DEXs providing swaps.
6. The AMM maintains a unified liquidity vault, and doesn't need two liquidity pools for every trading pair, providing outstanding capital efficiency and liquidity compared with traditional DeFi systems.
7. Users can earn by depositing into the AMM Vault, and into an insurance pool that protects the vault from margin calls that fail to recover all capital (the insurance pool gets 5% of all liquidations).
8. MULTI/DEX runs on the decentralized Internet Computer network, and is 100% open source — unlike HyperLedger, say, which remains closed source, and has an single-purpose architecture closer to federated CEX hosted on a symmetric cluster of federated servers.
9. If we go ahead, we would propose that MULTI/DEX runs as part of the Internet Computer, in the sense it is controlled and updated by the NNS (The Internet Computer's Network Nervous System, the world's largest and most sophisticated DAO, which directly orchestrates and updates the network) providing unparalleled levels of autonomy, transparency, and security.
10.... and this is the BIG ONE... its backend is built using the latest Motoko language framework (soon to be released) that puts AI *inside* of its software. That means, in another seminal inventive step from DFINITY and Caffeine Labs technology teams, that AI can see, browse and query the realtime data inside the app/dapp's persistent memory and can create and execute ad hoc queries and update logic on-the-fly (subject to permissions). So, while for much of the time traders will be using the traditional UX shown in the pic, increasingly, they will be interacting with the exchange through AI chats that have the "Internet Computer Connector" MCP installed (soon to be released). On the one hand, traders will be able to use chat to ask for simple things, like current spot pricing and market depth, and the likely slippage on a spot market order, and for orders to be submitted, but on the other, for much more demanding things that require the AI to execute ad hoc functionality, such as "Look at my positions and margin pools, and rebalance them to give me more blended market exposure, while also adjusting for risks indicated by social media coverage of forthcoming market events, but wait for my approval of your plan before proceeding."
This is a lot to take in, so I'm aiming to get a new demo video out ASAP that will demonstrate what's possible with this AIware, which will include MULTI/DEX — should be about a week!!
Btw. for those wondering what might be the big picture beyond what I just described with MULTI/DEX: At DFINITY, we are in the process of transforming ourselves into an "agentic organization," where all our existing apps/SaaS is replaced by custom on-demand apps/SaaS running on cloud engines that are created and updated by AI. Of course, these on-demand apps/SaaS are being built using the new technology described that automatically puts AI inside and provides users with fluid functionality via chat. The totality of the apps/SaaS represents an enterprise "World Model," which incorporates as much of the enterprise's data as possible, enabling AI to perform incredibly powerful analyses and actions — when you see this is in action, you can't unsee what you saw, because it's clearly a huge leap beyond the status quo of today's tech, which is exactly what the Internet Computer project is about. This wraps up our new technology stack, created by leaning on unique aspects of "The Network is The Cloud" paradigm, and years of work, and what, together with cloud engines, will finally enable the Internet Computer to strike out into the massive mainstream cloud technology market.
Big milestone for HODL.
The HODL app has officially been submitted and is now under review with the Apple Store Team.
A huge step closer to bringing the HODL ecosystem to mobile.
#HODL $HODL
https://t.co/jkYYuae9dZ