Standard Protocol AMA Recap
Standard Protocol is the first Collateralized Rebasable Stablecoin (CRS) protocol for synthetic assets and operates in the Polkadot ecosystem.
On September 15th, Standard Protocol Global Communication Director, March Z. joined us to answer our questions.
March Z, Standard Protocol Global Communication Director
Standard Protocol is a multichain stablecoin that is supported by every layer on the blockchain ecosystem. I am in charge of communicating with our KOLs and managing our communities worldwide
Questions from the CryptoRank team
#1. Could you please tell us more about yourself and your experiences?
March Z.: – I am the Global Communications Director at Standard Protocol. I am in charge of communicating with our KOLs and managing our communities worldwide! Standard Protocol is a multichain stablecoin that is supported by every layer on the blockchain ecosystem. We provide Layer 1 stablecoin with Parity Substrate connected as the para chain on Layer 0, and we have a multichain ecosystem of stablecoin in each of the blockchains on Layer 1 and Layer 2. We use bridges and other interchain solutions to make everything connected.
#2. Can you tell us about Standard Protocol? What problems do you solve, both in the space and for the community?
March Z.: – Standard Protocol has successfully integrated a chain bridge, a bridge between Polkadot assets and EVM-based chain assets. Our Kusama para chain will venture through connecting both assets soon in Polygon by tapping both liquidity between Kusama and Polygon. Then we will apply for Polkadot and do the same. On the smart contract side, we have partnered with Chainlink to provide oracles for synthetic futures. On the BD end, we have received full ecosystem support from many great outlets, and we had an extremely successful IDO on Polkastarter from our initial listing. We are now in the phase of formulating our technology and preparing for further exchange listings and development outlets.
#3. Could you shortly describe the milestones Standard has achieved, and about your upcoming plans?
March Z.: – We are going through milestone 1 of our grant, decentralized oracle. We have recently made a repo for a chain agnostic oracle for the Polkadot ecosystem and finished coding it. Lumen, the oracle client, will be used with our oracle module submitted in our grant, rewarding oracles like network validators. It will be tested out at the end of the first week of April or late in the second/third week of April. I think that is within the range of 30 days.
Questions from Twitter
#1. What was the biggest milestone your project has? What is a plan for the future? Please can you share about your partnerships for success? How can your project be successful so quickly?
March Z.: – Our IDO was a success, and we are grateful for the Polkastarter initiative development, and our partnerships are meant to improve our continued network effects.
#2. Rebating mechanism on the Ethereum Network has really been a headache for many in the past. It has simply been ineffective. How do you exactly plan to make your Standard Protocol faithfully comply with the price of a dollar?
March Z.: – Rebase is a necessary mechanism. We hope to mitigate it within the IQR rule, which is for our threshold within slash equivocation. We will rather peg our MTR stablecoin based on demand than just integrating with USD, isn’t that the full point of DeFi?
#3. Can you talk about the powerful features of the MTR token and its benefits for your platform? Will we be able to provide collateral to create an MTR token?
March Z.: – MTR token will be able to generate yields from a spectrum of platforms, including our own. As long as the MTR network effect increases, then naturally the STND token should benefit from demand usage. As the MTR token expands among our partnership projects etc, we hope that its deepened liquidity allows us to integrate even deeper with other top-tier tokens.
Questions from Telegram
#1. Can you share some Details about Recent Major Achievements done by your project? Also, what are the Future Roadmap & Targets of your project?
March Z.: – We are very happy with our recent Kusama integration, and the deepening of our network effect liquidity with multiple exchanges. Be on the lookout this quarter for any updates on this front.
#2. You have such a unique and qualified ecosystem. But why did you name such an unusual system “Standard”?
March Z.: – Simple, we want to create the Standard benchmark for the Defi community!
#3. What is Standard Protocol’s revenue model? In what ways do you generate revenue/profit?
March Z.: – We want to benefit from the network effects from yield using our MTR tokens.