By bringing our community on-chain, not only are we empowering and rewarding our community through soul-bound tokens, we’re also opening the door to a new way of building communities that’s composable, programmatic and sybil resistant
LONDON (PRWEB)
October 25, 2022
Voltz Protocol, DeFi’s first synthetic interest rate swap (IRS) AMM, which recently hit over $115M of notional traded only 4 months after its launch, releases an on-chain community alternative to Discord in response to the numerous hacks that have plagued Web3 Discords this past year. Voltz’s on-chain community alternative validates identity in a programmatic and composable way while unlocking the potential for Voltz users to earn soul-bound tokens based on activity, engagement, task completion, and community voting.
With its new approach to on-chain communities that is composable, programmatically linked to protocol activity, and hack-resistant, Voltz will utilize soulbound tokens to reward users with different levels of badges, which can be redeemed or minted at the end of each quarter. These non-transferrable soulbound tokens represent an aspect of user identity, making the community more sybil resistant whilst rewarding community members for contributions in a hack-resistant manner. Soulbound tokens are a concept first discussed by Vitalik, based on a set of principles around privacy and decentralization that are crucial to the concept of verifiable credentials.
Simon Jones, CEO & Co-Founder of Voltz Labs, said, “By bringing our community on-chain, not only are we empowering and rewarding our community through soul-bound tokens, we’re also opening the door to a new way of building communities that’s composable, programmatic and sybil resistant. This is a major step forward in comparison to building communities through Discord roles, and we’re excited to be announcing it today alongside the launch of our new Traders League.”
Participants in the Voltz Traders League will earn badges based on where they finish each season. These positions will be programmatic based on a points system that links to trading activity and liquidity provisioning, all of which combines with the newly launched Voltz on-chain community.
Voltz Protocol created a new market in DeFi—one that generates an incredible $1,000tn of notional traded in TradFi each year—and in doing so has enabled stability to exist throughout the DeFi ecosystem. As an open-source, highly composable protocol, Voltz is acting as the catalyst for a wave of new DeFi products, which will help DeFi transform the lives of billions of people. The Voltz Labs team supports developers with the guidance and resources they need to build on top of the protocol with minimal friction. Voltz is growing at roughly 35-40% per week and recently passed $115M in cumulative trading since the protocol launched 4 months ago.
To learn more about Voltz, visit Voltz.xyz and follow them on Twitter @voltz.xyz.
For media inquiries, please contact Phil LeRoy at (310) 260-7901 or phil(at)melrosepr(dot)com.
About Voltz Protocol
Voltz Protocol is DeFi’s first synthetic interest rate swap AMM and is up to 3,000x more capital efficient than alternative models. Interest rate swaps are a core pillar of TradFi, involving over $1,000tn notional exchanged each year, but have previously been accessible only to banks and other institutions. Voltz Protocol puts the power of rate trading into the hands of everyday traders and developers, ushering in a new era of composable, permissionless, and open-source financial products.
Share article on social media or email:
