Waves, an open blockchain protocol and growth toolset for decentralized purposes, as we speak introduced a partnership with UNION, a full-stack safety platform for the DeFi area.
UNION will supply its collateral safety product to future lending protocols that use Waves’ Neutrino USD (USDN) and sensible contract safety to the inter-chain communication protocol Gravity.
“Waves’ full DeFi answer with a broad market attain is the proper platform for constructing UNION’s full DeFi safety,” says John Liu, CPO of UNION. “We sit up for advancing the trade collectively in 2021 with an inclusive, protected, and accessible portal.”
“The exponential progress of USDN allowed us to determine demand for superior danger administration and asset safety merchandise,” provides Sten Laureyssens, Strategic Advisor for the Waves Affiliation. “UNION’s mission to supply full-stack DeFi safety that decreases the barrier to entry for retail, whereas superior sufficient for institutional buyers, is precisely aligned with our strategy.”
“As we step into 2021, our integration by way of Gravity can be a vital-for-growth milestone to scale back multi-layered dangers in our ecosystem,” he goes on to say.
The near-term cooperation between UNION and Waves will embody a sequence of liquidity provision applications together with a UNN/USDN liquidity pool on Uniswap, a UNN/USDN pair on Waves.Alternate and help for the UNN/USDN pair on UNION’s Geyser liquidity pool. The precise alternate fee can be decided on the time of the pair’s creation, primarily based on the prevalent market worth.
UNION can even be utilized in Waves’ future merchandise primarily based on the lending mannequin. As an example, customers of such merchandise can be prompted to pick out over-collateralization safety (OC) for a premium. Within the case of a liquidation set off, ought to the OC ratio fall beneath a particular threshold, the UNN safety product can be known as to fill the portion of the OC protected whereas the borrower pays the remaining distinction.
UNION can even collaborate with Waves on issuing a sensible contract safety instrument for Gravity in Q1 2021. The product will present further safety to the expertise, ruling out human components, akin to node collusion. Whereas Gravity makes use of mathematically confirmed multi-party computation (MPC) safety for its belongings held in decentralized custody, UNION will supply an extra safety layer for customers of Gravity’s cross-chain system.
Deposits by way of Gravity, USDN-related dApps, and even future Waves lending protocols will provoke a immediate so as to add a particular safety product for a premium or forgo the safety earlier than finalizing the deposit. UNION will render an intuitive integration and UI for the product, simplifying the asset safety course of for Waves customers.