AllianceBlock and Ocean Protocol create the third MLP on POP!
Dear POP! Town,
You can find the MLP on our website here!
The launch of this MLP sends a strong message to the market, by highlight the sincerity and commitment behind their partnership, while providing the opportunity for their respective communities to directly benefit from this partnership. In this article we will elaborate on what this means, the details surrounding the MLP, and finally some information on their partnership.
What does this mean?
Through POP!’s unique platform, users will now be able to provide their Ocean and ALBT tokens onto the MLP Marketplace, as both single-sided liquidity offers as well as standard liquidity mining (i.e. providing both assets). When the single-sided offers are matched with another user of the opposing asset, your funds will be locked together in the MLP for the duration specified by the offer. At any point during the farming period, users will be able to claim their rewards in the form of POP!, OCEAN & ALBT tokens!
To better understand how this will work, let’s have a look at an example:
Assume that Popeye owns ALBT tokens and he would like to participate in the ALBT x OCEAN MLP. First of all, he would access our website here, and connect with his wallet that holds the ALBT tokens.
After entering the App, Popeye will find and select the ALBT x OCEAN MLP. At this point he will be greeted with our MLP Marketplace, which provides a UI for Making and Taking single-sided offers. Given Popeye holds ALBT, he can make an offer with his ALBT tokens in order to match with an OCEAN holder.
Let’s assume that he holds 1,000 ALBT and would like to make an offer with all his tokens. All he would need to do is input the values marked in the Make Offer window (Purple window), confirm the transaction, and it will be displayed on the marketplace.
At that point, once a OCEAN holder Takes his offer, both Popeye and his partner’s funds will be joined and added into the LP, whereby they will begin their farming partnership!
Throughout the farming period both Popeye and his farming partner can claim their rewards (in the form of POP!, ALBT and OCEAN tokens). At the end of the farming period, they will be able to claim back their initial tokens, and should one of the farmers have suffered a loss due to impermanent loss, a portion of the loss will be mitigated through POP!’s rebalancing mechanism.
For more information on how POP! works, and how to interact with our App, please check out our guide here. Should you have any questions, please check out our FAQ, or shoot us a message on our telegram group.
Details about the MLP
AllianceBlock and Ocean Protocol have decided to lock $100,000 of liquidity each (in their native tokens), in order to create their MLP, while providing bonus tokens in the form of their native token as rewards to the MLP farmers. In other words, they have created a $200,000 ALBT/OCEAN Liquidity Pool on Uniswap(V2), which will be reflected on POP!’s platform for user participation, through single-sided liquidity provisioning and standard liquidity mining (providing both sides of the asset). Furthermore, they have both agreed to run their MLP for a duration of 85 days, starting from the 25th of May 2021 at approximately 11:00 UTC, and concluding on the 18th of August 2021 at approximately 11:00 UTC.
About the Partnership
AllianceBlock will build a data pipeline on top of Ocean where user data such as KYC/AML/KYB will be stored and users will be able to use role based access control to give access and revoke access to data. This product is part of AllianceBlock’s use case to bridge traditional finance and decentralised finance applications by providing illiquid assets short term financing to high-net worth individuals at private banks.
DeFi P2P lending applications and traditional equivalent applications will be connected to the AllianceBlock product, and all lenders interested in participating in a specific financing will need to do KYC/AML and get validated by the regulatory and compliance tools built by AllianceBlock. Storage and access control to data for lenders will use Ocean Protocol technology, with lenders being able to grant and revoke access to their data.
Through Ocean Protocol, retail banking APIs will be able to connect to DeFi in a way that is compliant with financial regulations such as PSD2, resulting in new, exciting open banking solutions.
POP! is a platform that allows 2 projects to objectively display mutual trust and commitment to each other, by locking their respective tokens together and creating a trustless Mutual Liquidity Pool (MLP). In addition, it grants POP! users the opportunity to provide single-sided liquidity, in the form of their favourite token, by matching them with another POP! user and adding their joint liquidity into the MLP.
Powered by Faculty Group, POP! aims to set a new golden standard with regards to partnerships, and how they are perceived in the digital asset ecosystem.