DSLA brings DeFi risk management to Fantom
DSLA Protocol for Fantom
DSLA Protocol, our turnkey, peer-to-peer risk management infrastructure for developers and their communities, has been deployed to the Fantom blockchain network earlier this month.
The protocol will enable Fantom users to regain control of their exposure to DeFi risks, by trading on the future performance of Fantom services using Performance Risk Prediction Markets.
This new mainnet deployment brings the total number of networks and developer ecosystems where DSLA Protocol is available to 6, making DSLA one of the most widely distributed protocols in the industry.
As stated by Wilhem Pujar, CEO at French startup Stacktical—the core development team behind DSLA Protocol:
“From a developer perspective, it only takes a glance at what’s being built on Fantom to ascertain its potential as an ecosystem. Developers love the ability to capitalize on past practices, tools and code, with more network capacity to work with. The energy of a network that still has a lot to prove seals the deal. Our mission is to help these developers deliver peace of mind to their users, with a focus on how well their services are performing on the Fantom network.”
To fulfill its mission, DSLA Protocol relies on a special type of risk management contract called Service Level Agreements or SLAs.
SLA 3.0 : Programmable, Peer-to-Peer, Collateralized
A service level agreement enables you to predict if a service will hit or miss pre-agreed performance targets, by staking a premium to the agreement’s vault.
Expressed in percentage, the pre-agreed performance targets are compared every hour / day / week / two-weeks or year, to the service performance analytics.
Upon verification, if performance targets are met, the developer or liquidity provider underwriting the performance drop earns the right to claim a fraction of user premiums.
Conversely, if the SLA performance targets are missed, the users hedging against a performance drop earn the right to claim a remedy from the agreement’s liquidity pool.
Even if a premium is forfeited in the event of a miss, a wrong prediction means that the monitored third party application, network or service performed as intended.
This mechanism effectively enables Fantom users to freely trade third party risk with each other, while incentivising the quality of third party applications, networks and services.
An Economic Layer on top of Third Party Risk
Beyond financial services, DSLA Protocol represents an opportunity to turn any third party risk into a risk prediction market, as the protocol can be programmed to support new use cases developed by the community.
Use case developers are entitled to a 250K DSLA incentive, as well as 19.7% (4925 DSLA) of SLA verification fees. They can also become Chainlink node operators and top-up their incentives with 0.1 LINK per executed DSLA job.
Alongside DSLA, users can stake DAI, USDT, USDC and WFTM premiums to SLA vaults. In the future, we plan on enabling anyone in the Fantom ecosystem to apply for listing their favourite token to DSLA Protocol, and further increase user options.
Enroll to the DSLA Academy, Join the DSLA Metaverse
To make sure all users can reap the full benefits of DSLA Protocol and the DSLA family of products, our core team recently announced the DSLA Academy, an application powered by non-fungible tokens, for learning, practicing and polishing key blockchain, cryptocurrency and DSLA concepts.
Users holding more than 100K DSLA by the end of November 2021, will be eligible to win one of the 101 inaugural NFTs minted to celebrate the launch of the DSLA Academy.
All NFTs minted in the DSLA Academy will see their utility dramatically enhanced in the DSLA Metaverse, that will be unveiled on November 30th, 2021 - 12pm CET.
About DSLA Protocol
DSLA Protocol is a turnkey, peer-to-peer risk management infrastructure for developers and their communities, that empowers anyone to manage their exposure to the performance failures of application, network and service, using peer-to-peer service level agreements.
DSLA Protocol’s flagship use case is to optimize your staking rewards, by enabling you to hedge against the bad performance of your staking services.
Made in France, by Stacktical.