Announcing DSLA Maxima "Harmony Edition"
DSLA Protocol for Harmony
DSLA Protocol enables anyone to manage their exposure to third-party risk using Decentralized Service Level Agreements, peer-to-peer outsourcing contracts that can store and release cryptocurrency according to third-party service analytics. Read more…
Dear community, in an effort to bring our nascent developer community access to more technology ecosystems, and to empower more users and developers to tap into the risk management capabilities of DSLA Protocol, we are proud to announce that we have partnered with the Harmony core team to port DSLA Protocol to the Harmony blockchain network, and augment the experience of your cryptocurrency saving accounts (staking), decentralized financial products (DeFi) and non-fungible tokens (NFT)! 🎉
Harmony is the 1st network we ever decided to integrate to DSLA Protocol, and one of the key driving forces of the DSLA incentivised beta that took place last November. With this official partnership, the DSLA core development team is excited to expand on our past collaboration with a wide range of novel opportunities for all Harmony stakeholders.
Our immediate collaboration with the Harmony core team will focus on adding support for $ONE Staking Agreements to the DSLA.network flagship application.
$ONE Staking Agreements will compensate $ONE delegators for drops in $ONE staking rewards, while rewarding $ONE validators for their ability to endorse and validate Harmony blocks over time.
Anyone can use a $ONE Staking Agreement to either give or take risk, as easily as swapping tokens on your favourite exchange.
DeFi Harmony Developers
Soon after, DSLA Protocol will be deployed as smart contracts on the Harmony network, enabling Harmony network participants to trade risk with each other in virtually infinite scenarios, across the full Harmony ecosystem.
We will work together with the Harmony core team on mapping the various risk consumers, companies and institutions are exposed to while using staking, DeFi and NFT products built on Harmony.
The Harmony-native edition of DSLA Protocol will then enable builders to add risk reduction capabilities to their user experience within minutes, and directly benefit from the adoption boost generated by DSLA hedges and liquidity pools.
DSLA expansion to HRC20
Effective immediately, HRC20 becomes the second official token standard of the DSLA token. DSLA was successfully added to the Horizon bridge by Harmony, earlier this week.
This integration will facilitate the use of DSLA tokens in the Harmony-native edition of DSLA Protocol, as well as provide cheaper trading alternatives to our community.
Harmony is the future of cross-chain finance, where assets can free-flow between chains and settle wherever the user decides.
At the protocol level, Harmony is a fully evm-compatible sharding protocol with a trustless bi-directional Harmony to Ethereum bridge, and is purpose-built to help scale Ethereum applications that struggle with high gas costs, slow finality, and overall poor scalability. Similar to Layer-2 protocols but with sub-second withdrawal times, Fiat off/on-ramp with centralized exchanges, and security guarantees of a Layer-1.
About DSLA Protocol
DSLA Protocol is a risk management framework that enables developers and infrastructure operators to reduce their users exposure to service delays, interruptions and financial losses, using self-executing service level agreements, bonus-malus insurance policies, and crowdfunded liquidity pools.
Its flagship use case is to offset the financial losses of proof-of-stake delegators and DeFi users, while incentivizing the good performance and reliability of staking pool operators and DeFi service providers such as Uniswap (AMM) and OpenSea (NFT).