Standard Protocol Expands Strategic Partnership with Plasm Network
We are thrilled to announce: Standard Protocol has expanded our partnership with Plasm Network, with missions to develop a scalable and interoperable infrastructure for Web3.0. (In which fields we have cooperation…)With inborn interoperatability powered by Polkadot XCMP protocol, any DeFi/DApp developer will be able to construct Web3.0 products featured by privacy-preserving functionality based on Plasm smart contract and Phala confidential smart contract. Also, Plasm and Phala will jointly work on more user-friendly SDKs and user cases to better present the unmatched “interoperatability of Polkadot parachains”.
Plasm Network is a scalable and interoperable infrastructure for Web3.0. Since Plasm Network is built with Parity’s Substrate framework, it can be a future Polkadot parachain that also acts as a scalable smart contract platform. The Polkadot Relaychain, by design, does not support smart contracts. This allows Plasm the opportunity to fill in this gap. Scalability is obviously one of the most crucial demands DApp developers have. Ideally, the developers can build whatever applications on Plasm Network without having to consider its scalability.
About Standard Protocol
Standard Protocol is the first Collateralized Rebasable Stablecoins(CRS) protocol for synthetic assets, and will operate in the Polkadot ecosystem. It introduces a new paradigm for liquidity aggregation. In contrast to the previous generation of algorithmic stablecoins, Standard introduces collateralization in the protocol in order to provide a more reliable peg on top of its algorithm. It will act as the catalyst for the financial activities of other para-chains to enable leveraged trading and arbitrage via a built-in AMM. It will also include a protocol for synthetic asset markets by way of a decentralized oracle.