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MARKET Protocol

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About MARKET Protocol

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  1. Co-founders of the MARKET Protocol, Phil Elsasser, Seth Rubin and Collins Brown, will be providing an introduction to MARKET as a company, the team behind the project, and the best ways to stay connected with us!   To learn more about the project, join our community and our social media platforms: Community Channel: https://t.me/Market_Protocol_Chat Twitter: https://mobile.twitter.com/MarketProt... Facebook: https://www.facebook.com/marketprotocol/ Reddit: https://www.reddit.com/r/MarketProtocol/ Steemit: https://steemit.com/@marketprotocol Medium: https://medium.com/market-protocol Newsletter: https://www.marketprotocol.io/#newsle... Discord: https://www.marketprotocol.io/discord
  2. MARKET Protocol is pleased to announce a partnership with the upcoming Virtuse Exchange. Virtuse Group, the parent of VIRTUSE Exchange has a rich and established history in the carbon emissions trading space with over 10 years of experience and 200 million tons traded. As one of the first implementations of MARKET Protocol, we are thrilled to have application partners with deep trading and market making experience. We are excited to see a traditional OTC/derivatives firm utilizing MARKET Protocol as a decentralized back-end for their upcoming exchange application. Leveraging their experience, VIRTUSE Exchange plans to connect crypto markets with real world assets. First expected to launch in the spring of 2018 with spot traded cryptocurrency pairs and following up with Digital Asset Collateralized Tokens (DACTs) released later in the year. VIRTUSE Exchange plans to use MARKET Protocol to trustlessly implement a number of DACTs. Through the MARKET Protocol VIRTUSE Exchange can create and trade any digital or non-digital relationship allowing them to offer new products unavailable on traditional exchanges in a safe and solvent framework. As established traders and brokers of real world commodities they can offer their existing traders products specifically designed for their needs. “We are excited to help the VIRTUSE Exchange team as they implement a solution on MARKET Protocol,” said Seth Rubin, CEO of MARKET Protocol. “This makes a lot of sense for us. MP offers a solution that isn’t available in today’s market allowing us to create DACTs, as well as, manage their liquidity on our platform,” said Ras Vasilisin CEO and founder of VIRTUSE Exchange. MARKET Protocol is advising on protocol implementation not on business strategy. To learn more, visit www.marketprotocol.io, read our whitepaper, and join the ongoing discussion on Telegram.
  3. Cryptocurrencies are the newest form of money. They are the Internet of Money — A financial revolution! However, problems exist. Security and custody of funds are still a major issue. The growing number of cryptocurrency thefts and hacks The rising value of cryptocurrencies has attracted investors, speculators and thieves alike. Many people have lost their coins to attacks with stolen valuations totaling billions of dollars. But by far, the highest number of thefts have happened on exchanges — around 80%. In 2014, approximately 650,000 bitcoin (now worth over $7 billion) was stolen from Japanese exchange, Mt.Gox, the largest recorded theft to date. More recently, another Japanese exchange, Coincheck, lost $500 million worth of NEM coins to hackers as well. Yet wallets and exchanges are not the only targets of hackers. Other crypto-related businesses requiring the storage of large amounts of coins have become targets for theft too. One recent example is a Slovenian-based mining company, NiceHash, which was hacked for 4700 BTC in December 2017. Below is an infographic of recorded thefts and hacks of cryptocurrencies from 2011 to March 2018: A list of recorded thefts and hacking of cryptocurrencies: (Source: https://bitcoinexchangeguide.com/top-cryptocurrency-theft-hacks/) Centralization comes with customer service support, convenient UI/UX, greater volumes, and instant off-chain trade executions. But all of those benefits come at a huge cost in favor of issues related to centralized custody of funds, disclosing personal information, and jurisdictional restrictions. Cryptocurrency wallets Not only have thefts taken place on hot wallets, but recently cold storage wallets have been a target as well. For example, Nano Ledger S recently discovered a vulnerability. There is also the issue of hacks that happen as a consequence of purchasing hardware wallets from third-party services like eBay. The awareness of decentralized custody of funds and its importance amongst cryptocurrency traders and investors is one of the main focuses in the industry. One widely used decentralized wallet solution is Electrum It was released under the MIT license in 2011 and is used for securing bitcoin payments. It is a free, open source software with support for all major hardware wallets and two-factor authentication. Electrum proves that decentralized software can offer a good user-experience and be reliable, however, the security issues associated with using it are still ongoing. To compound the issue, Bitcoin is just one of over 1,500 different digital assets. Securing all of them in a decentralized manner is very difficult. Many Ethereum network participants use Parity wallet to secure their funds. Unfortunately, it suffered a hack in July . It also had a critical vulnerability that resulted in locked funds for 584 wallets in November 2017. Their total balance is unknown, but outside sources have quoted that the funds were worth around 300 million dollars at the time. Decentralized exchanges Many market participants are short-term traders. They are not usually holding all of their funds in cold storage. Luckily, we are witnessing the emergence of many decentralized exchanges (DEXs) in the space like IDEX, Crypto Bridgeor Bisq. At the time of this writing, none of the top 10 most used decentralized exchanges have been hacked. But they do have other downsides. The two main issues affecting DEXs are extremely low volumes and lack of cross-chain trading relationships. In many cases, these exchanges only support the trading of ERC20 tokens. Atomic swaps could help solve this issue, but only exchanges for Litecoin/Decred and Bitcoin/Litecoin currently exist. Otherwise, there has been limited progress in the development of ERC20 token swap exchanges. Novel ways of addressing the issue of custody Smart Contract technology has empowered gifted developers with an opportunity to build products that could have the benefits of centralized solutions while enabling trustless custody of funds, trade execution, and settlement with no single point of failure. With MARKET Protocol, there is no need to take custody of an asset. Using a series of smart contracts, a trader can gain the exposure he or she wants without having to constantly move coins from wallet to wallet. The contracts are also fully collateralized using smart contracts to eliminate counterparty risk. Users can trust that their funds are secure while managing their desired market exposure. Please visit www.marketprotocol.io for more information, and join our discussion about MARKET Protocol on Telegram.
  4. MARKET is pleased to announce a partnership with Amadeus, a provider of ERC20 token liquidity to existing dApps. Projects will be able to effortlessly exchange tokens allowing them to focus on their core competencies. Holding token inventory is necessary for Amadeus to provide dApps with consistent liquidity. Amadeus can now decouple the price volatility of their tokens from the business services they provide leveraging MARKET Protocol’s unique smart contracts. This is a great application of deploying derivatives for risk mitigation and helps Amadeus grow their business. As Amadeus manages their token reserves, they will contribute to the overall MARKET ecosystem. Seth Rubin, CEO of MARKET Protocol commented on the new partnership saying, “We look forward to working with their team as they continue to build and scale Amadeus.” Joao Otavio Barbosa, Strategy Manager at Amadeus, said “MARKET Protocol enables us to effectively manage the price risk of our token reserves and focus on our business.” Connect with us on Telegram
  5. MARKET is pleased to announce a partnership with Amadeus, a provider of ERC20 token liquidity to existing dApps. Projects will be able to effortlessly exchange tokens allowing them to focus on their core competencies. Holding token inventory is necessary for Amadeus to provide dApps with consistent liquidity. Amadeus can now decouple the price volatility of their tokens from the business services they provide leveraging MARKET Protocol’s unique smart contracts. This is a great application of deploying derivatives for risk mitigation and helps Amadeus grow their business. As Amadeus manages their token reserves, they will contribute to the overall MARKET ecosystem. Seth Rubin, CEO of MARKET Protocol commented on the new partnership saying, “We look forward to working with their team as they continue to build and scale Amadeus.” Joao Otavio Barbosa, Strategy Manager at Amadeus, said “MARKET Protocol enables us to effectively manage the price risk of our token reserves and focus on our business.” Connect with us on Telegram
  6. MARKET Protocol partners with Amadeus to provide ERC20 token liquidity for dApps!!!

     

    FINAL AMADEUS.png

     

    MARKET is pleased to announce a partnership with Amadeus, a provider of ERC20 token liquidity to existing dApps. Projects will be able to effortlessly exchange tokens allowing them to focus on their core competencies.

     

    Holding token inventory is necessary for Amadeus to provide dApps with consistent liquidity. Amadeus can now decouple the price volatility of their tokens from the business services they provide leveraging MARKET Protocol’s unique smart contracts. This is a great application of deploying derivatives for risk mitigation and helps Amadeus grow their business. As Amadeus manages their token reserves, they will contribute to the overall MARKET ecosystem.

     

    Seth Rubin, CEO of MARKET Protocol commented on the new
    partnership saying, “We look forward to working with their team as they continue to build and scale Amadeus.” Joao Otavio Barbosa, Strategy Manager at Amadeus, said “MARKET Protocol enables us to effectively manage the price risk of our token reserves and focus on our business.”

     

    Connect with us on Telegram

     

  7. What is shorting? Everyone has heard the saying “buy low and sell high.” But what about selling high and buying low? Shorting allows a trader to take advantage of a price decline. By selling at a higher price and subsequently buying at a lower price, one is able to make a profit. The risk is that the price continues to increase. This forces the trader to buy back what he or she sold at a higher price, resulting in a loss. MARKET Protocol (“MARKET”) enables users to create contracts that are derived or linked to the value of an underlying asset. This linking mechanism (learn more in our white paper) allows an exchange of risk without having to own the underlying asset. It is a financial representation of the price exposure. MARKET’s design allows trader to easily sell (short) or buy (long) contracts ensuring the exact exposure they want. The Value of the Shorts One of the most valuable aspects of being able to sell short is hedging. This is especially important in the crypto community. Many people want to consume the utility of the tokens they own without being exposed to so much price volatility. We talked about this in a previous post. By trading assets that are overvalued, short sellers can make a market more efficient. Occasionally, an asset will become overvalued due to a speculative frenzy, recent hype or even just a large buy order. Short sellers may be able to identify this divergence from fair value and decide to sell it. This helps return the asset to fair value faster. Now others may be willing to buy it, allowing insightful traders to profit from market inefficiencies. Additionally, by exposing questionable practices, fraud and weak projects, short sellers can make markets more efficient. It gives participants an incentive to seek opportunities that arise from these excessive valuations. As Warren Buffett famously said “Only when the tide goes out do you discover who’s been swimming naked.” It is a check and balance for the market. Hedging and price discovery are two very valuable features of MARKET Protocol. To learn more about MARKET Protocol, and interact directly with our founders and developers, join our Telegram - https://t.me/Market_Protocol_Chat
  8. Please visit www.marketprotocol.io for more info, or join our Telegram - https://t.me/Market_Protocol_Chat to interact directly with the team.

  9. One issue with the existing decentralized exchange (dex) ecosystem is the limited offerings that are available to participants. Confined to the ERC20 world, traders must transition to a centralized service if they would like to gain access to cross chain assets (ETH/BTC for example). Additionally, there is no path for anyone to gain exposure from crypto to real world assets, like AAPL/USDT, even from a centralized service. Usually, traders are looking to gain price exposure to an asset and do not care about actually taking custody of that asset. For instance, if a trader thinks bitcoin will rise in value and wants to make a profit, they don’t actually need or perhaps even want to hold bitcoin, rather just earn profit from its price appreciation. MARKET Protocol allows dex’s to extend their product offerings to both of these asset types. By using an oracle solution to create a derivative contract, we can allow for a diverse universe of products all tradeable with ERC20 tokens as collateral in a decentralized fashion. Imagine going on to your favorite dex, and seeing pairs like ETH/BTC or ETH/Monero and being able to easily trade these products. Additionally, contracts can now be created to gain exposure to real world assets, trading AMZN/DAI (a stable coin) now becomes a reality while never leaving the Ethereum blockchain. Existing decentralized exchanges can leverage much of their existing infrastructure, UI and customer base from their spot trading into a new revenue stream with extended product offerings. Traders, who previously had to overcome significant hurdles to gain short exposure are now able to do so without a third party lending facility to borrow those assets from. Now, true hedging of utility tokens also becomes possible without having to lock the tokens themselves. By searching already deployed MARKET contracts, users are able to start trading easily with their peers. If the needed contract doesn’t exist yet - using our dApp - users can define their desired contract, deploy it to the Ethereum blockchain, and immediately begin trading on their favorite dex. Derivatives are fast on their way to being traded on the Ethereum blockchain and MARKET is leading this effort. To learn more about our project, ask questions or speak directly with our founders, please join our telegram - https://t.me/Market_Protocol_Chat and check out www.marketprotocol.io
  10. MARKET Protocol has the idea of doing this exactly but in a decentralized manner and with higher flexibility in terms of contract terms and listing requirements, offering settlement for contracts in any ERC20 token as a base. Join our Telegram chat - https://t.me/Market_Protocol_Chat to learn more.
  11. Centralized custody of funds, governance when it comes to product offerings (trading pairs and new token listings), KYC/AML, restricted access and many more issues need to be addressed as soon as possible. But decentralized exchanges also have GUI problems, and they aren't too flexible with trading pairs they offer either. That's why we are trying to create a product that would overcome these obstacles. Join our Telegram chat - https://t.me/Market_Protocol_Chat to learn more.
  12. The thing that I agree the most here is to primarily focus on the risk side. But cryptos are currently a risky investment due to high volatility as a result of many factors, primarily still low market cap and the fact people follow FUD rather than fundamentals. Since we saw that risk management tools in trading cryptocurrencies are very limited, like shorting as a way to hedge for example, we have created our protocol, as a possible solution to many issues besides hedging. Join https://t.me/Market_Protocol_Chat to learn more.
  13. Market corrections are quite normal thing. The problem is that custody of funds still remains an issue on centralized exchanges. Also, the possibilities to short crypto as a hedge against volatility are very hard and limited. We are trying to address these issues to provide traders with more options in the future. Join our telegram chat - https://t.me/Market_Protocol_Chat to learn more!
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