At different times, in different parts of the world, popularity varies. Sometimes it is too easy to buy a house thanks to a lot of money, and sometimes interest in different investment tools increases when access barriers are removed. In this dynamism, ‘'Open Finance’' and ‘'DeFi'’ platforms have stood out among the popular platforms of recent times. Due to factors such as the absence of any central authority, the absence of registration and completion of KYC verification, and the elimination of hacking concerns, the area of use has also expanded quite rapidly. Just as people who were previously considered only ''a few dreamers’' were able to become pioneers of innovations that would change the world, DeFi platforms were also placed in the position of these pioneers and dreamers. And finally, during the summer of 2020, DeFi organizations began to see the value they deserved from community members. A significant increase in the number of users, an explosion in transaction volume, and apart from all this, a rapid rise in ‘'governance token’' values have put these platforms ahead of every person trying to gain a place in the crypto ecosystem. But rising popularity has brought with it a number of problems and obstacles…
According to CoinMarketCap statistics, 2nd ranked cryptocurrency after Bitcoin in terms of market volume, Ethereum has become the first tool for infrastructure providers for DeFi platforms thanks to its smart contracts and high recognition features. The breadth of use, smart contracts that can be organized in a wide area thanks to the fact that they have already been accepted by the community, there is almost noone to argue about Ethereum chain to use. But by the end of this summer, the long-lasting problems began to become unbearable. At the beginning of these problems, it is difficult to respond to growing user demand, and therefore, transaction speeds are falling. In addition, transaction fees are rising and rising with non-stop. Although workarounds have been produced for these problems from time to time, no permanent solution has been found to any problems due to the postponed release of the ETH 2.0 development, which has been expected to be announced for many years. In these circumstances, the need for a new platform to increase the user experience, improve ease and produce fast solutions has become obvious. An idea was put forward by a team of experts in their field who came together to solve this problem: OBLIQUITY
What is Obliquity, briefly?
Obliquity was created by a team of experts in its field to bring users a unique experience by bringing the leading tools in today's cryptocurrency ecosystem under one roof. Combining Defi communities divided into different areas is a project started to prepare a brand new network that will create all of them on one network instead of the different platforms that will be created on different networks from each other and meet the wishes of all users. This problem is exacerbated by Ethereum's inability to meet user requests and the inability of other chains to show any presence on behalf of the DeFi platform creation. Therefore, Obliquity, which will be built primarily using Ethereum and Cosmos networks, aims to achieve inclusion in all networks over time. In addition to ‘'unlimited scalability’' which is already accessible in the current state, they also aim to develop without compromising on security and reliability. They also use the ‘'Tendermint's Consensus Algorithm’' to realize all these functions/goals.
At the heart of obliquity's mantle, which is based on collecting all existing chains on a single chain, is the ''Cross-Chain Protocol’'. In other words, while different chains continue to move forward in different locations, they will all remain connected to the central network, thus ensuring the development and continuity of the platform. The main network, which would later be named Obliquity Chain, would be directly linked to the ETH and Cosmos networks. In the future; Polkadot, IOST and TRON networks are also expected to be integrated into the system. As shown in roadmap, various studies will be done to integrate other networks, taking into account the requests of users, during and/or after the integration of these 5 initial networks. For this purpose, the structure planned to be created in the future is named Obliquity DAO. It is created in order that all decisions are the common idea of the community and will be presented as the future equivalent of the concept of the Foundation, which in its current state contradicts the principle of decentralization. At first, it is acceptable to create a foundation in the name of lack of users and platform development, and in the future, making the foundation dysfunctional will eliminate one of the biggest obstacles to decentralization.
So what are the other products Obliquity offers that allow its users to use their assets as they wish without worrying about danger in a decentralized environment?
The biggest help for Obliquity in achieving its goals is this protocol, which is at the heart of the new network to be built on the Ethereum and Cosmos chains, initially. Even though some chains are not designated for decentralization or DeFi platforms, Obliquity will also be the assistant of developers in these chains who want to respond to the requests of their community. Because "Cross-Chain Protocol'' provides the infrastructure we need to run multiple networks synchronously on a single network, we can easily achieve that goal for everyone. Cross-Chain Protocol is not just about integrating different networks together. Otherwise; it also aims to connect DApps, DEXs and various products built on different networks. In this way, a wider area of use will be created and flexibility will be maintained. So how will the system work?
5 actors are needed to ensure the transfer of information between any two different networks. If we consider the existence of only the Ethereum and Cosmos chains at the initial stage, let's imagine that we will switch on these two chains. The first step we need is the node called the ‘'Sender Node'’, which transfers information to the main chain. The information sent from here is received by the ’'Accountant Node'' and saved to nodes located on the Obliquity Cross-Chain, called '’Core Nodes". Finally, it is sent to the last recipient named ’'Receiver Node'‘ to reach the other network through another ’'Accountant Node".
This whole process consists of 5 steps, and each of these steps is carried out by connecting directly or indirectly to the main network. In the future, the number of steps will naturally increase with the completion of different chain integrations. After the Ethereum, Cosmos, and Polkadot networks, the networks selected for integration are the TRON and IOST networks. After 2021 Q3, it is aimed to combine more different networks.
Obliquity DAO: One DAO for Multiple Chains
DAO, the full equivalent of '‘Decentralized Autonomous Organization’', serves as a decision-making board for all DeFi platforms. After the 3rd quarter of 2021, it will have the authority to decide on the detection of networks that are planned to connect, any changes related to OBL, the governance token, the location where the platform will evolve, and many more issues. Not created by specific parties so that all OBL owners have the opportunity to contribute about platform development. In accordance with the principle of '’the more decentralized the platform, the more security can be provided", Telegram group to have the opportunity to discuss with the people who will shape the future of Obliquity and to be aware of project development.
On DAO, everyone will have the right to vote and make a proposal. But each of the voting and submitting proposals is designed to be implemented in exchange for paying a certain amount of commission. As mentioned at WhitePaper, it is necessary to cost 5 OBL tokens to vote. But at that moment the cost of making the proposal has not been determined. It will be decided soon by DAO. Commissions paid will not be transferred to any team member or directly to the foundation; half of fee will be burned directly, some of the remaining ones will be given to those who voted for the winning proposal, and some will be sent to the creator of the proposal, which has been adopted if they wish.
Governance Token OBL and Stablecoin USDob
The sine qua non of DeFi platforms are these tokens called '’governance tokens", which will allow you to easily access all the features that will be included on the website. For Obliquity, this token is OBL. OBL will be created on the main network in accordance with the Obliquity Cross-Chain protocol, and the total number is designed to be 10,000,000. But in the first step, the amount that will be given to circulation is limited to 1,600,000. 12% of them will be offered for sale in 2 separate rounds in order to create funds for the team to start. 5,500,000 or equivalent to 55% of total supply, will be released as a reward for users in the future. The sale price of the OBL token, the remaining parts of which are mostly devoted to ‘'marketing’' and ‘'PR’' work, is set at 0.3$ and 0.35$, respectively. After token sales, 1/3 amount of the tokens sold will be used to ensure liquidity in the first stage on Uniswap.
Answers to all questions about token distribution, sale and how the circulating supply will increase over the years in the relevant Medium article is waiting for you. And if you want to participate 1st round of token sale, please check latest article to become whitelisted to participate in Public Sale.
The new cryptocurrency, known as Obliquity's stablecoin and specific to the Obliquity platform, is known as USDob. Thanks to USDob, users will be able to perform simultaneous transactions on different chains and enjoy unlimited transfer. Through the Obliquity platform, users who own USDob can both access all the tools of the financial system and make profits, together with the chain in which they own USDob. USDob, which can be obtained with a collateral amount of at least 150%, also stands out for its advantages for other chain communities that are impossible to access to Defi. For details about USDob, please visit WhitePaper and see the relevant section.
Apart from taking USDob with some collateral, there are 3 other options that can be performed on Obliquty. Thanks to the Staking feature, users can provide 2 different profits simultaneously and only with Staking, both through the main Obliquity network and through the other network they used to stake coins. You can also show your confidence in Obliquit by owning OBL and making some amount before the platform opens, you can get your share of 180% APY in the initial stage. Users who want to farm will be able to get 2 different profits again at the same time. For example, if they lock COMP or YFI, they will generate revenue through ERC20 and be rewarded with OBL by the main network. 4 pioneer tokens are set to use the Lending option. These were chosen as KAVA, ETH, USDob and ATOM respectively. These options may change in the future in line with decisions to be taken by Obliquity DAO.
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