Hello Ledgerians -
OneLedger continues to develop its platform to ensure greater utility and added value for our community.
Protocol and product update
Our version of the DeFi future is driven by smart contracts - Smart Contracts: The whole point of having a system not controlled by a third party but by codes is induced by smart contracts. Smart contracts are automatically executed when certain stated conditions are met without the help of any external body. To this end we want to announce our launch of the OLVM in two weeks.
OLVM launch in two weeks.
We are currently earning revenue from our development work on smart contracts, particularly in the real estate NFT space.
Having our own VM will afford us the opportunity to run those smart contracts on our platform, as well as hosting smart contracts from any other developer.
Public networks like ours operate in a silo to maintain the consensus that underpins the security and accuracy of a shared ledger, only miners who meticulously follow the rules of each network are allowed to verify and write transactions to the blockchain. As you are aware, our system is incredibly effective. However, in the near future we see the siloed nature of blockchains is stunting DeFi progress, locking DeFi users into a single network when the blockchain space as a whole offers a world of functionality and opportunities.
With our OLVM being a catalyst for new decentralized finance applications (dapps), it’s more important than ever for us to create an ecosystem for independent blockchains to “communicate” with another.
Next step - Bridge
While comprehensive cross-chain infrastructure solutions are gaining popularity, many users simply want to move digital assets from one chain to another and use dapps and other services more efficiently.
This is where we see our bridge making a difference. We are working to simplify the process. I am happy to announce that two weeks after we launch our OLVM, we will establish our own Bridge.
Bridge Launch - 2 weeks after OLVM launch.
Blockchain bridges enable interoperability between vastly different networks. This interoperability could include the transfer of tokens, data, and even smart contract instructions between independent platforms, allowing users to:
Deploy digital assets hosted on one blockchain to dapps on another
Conduct fast, low-cost transactions of tokens hosted on otherwise less scalable chains
Execute dapps across more than one platform
Ours will be a decentralized bridge that helps ensure the security and openness of DeFi protocols.
Oneswap once complete will be a game changer. We are revamping our mainnet, adding OLVM, adding the Bridge - with the massive hacks that we have seen recently - we are being extremely cautious and have engaged one of the best DeFi audit teams on the planet to test and validate all of our functionality and security protocols.
This audit process is ongoing. It is painstaking and exacting and we are embracing it to ensure the final product is best in class.
We want to simplify the movement of digital assets with our bridge. We also want to increase yields and rewards through smart contract driven farming and staking options, where the smart contracts do the work and everyone benefits with a higher APY.
With this toward greater DeFi inclusion, we want to announce the following:
To be a Validator the minimum holding had to 3M OLT
To be a Validator, the minimum holding will be decreased to 0.5M OLT.
We will also increase the number of Validators from 32 to 64.
As we work to simplify processes and drive ease of use the current process to set up a validator will be also simplified. Making it so simple that even I could do it, the new validation updates will be announced within few weeks.
CBDC partner - Chainlink
So many of Community have been asking about the CBDC partner, so we have been working on setting up the solution part first with the partner but we decided that integrating the protocols should come first to secure our DeFi solution which will be related to CBDC part, thus today we are happy to share the partner company name - ChainLink $LINK
Chainlink will help us connecting to many other blockchains and securing the system, once the integration is done. we will be pitching to a government together with Chainlink, who already had an interest in working with us for CBDC. we will be building the solution together, Chainlink oracle will be on the top of OneLedger protocol, The OLVM and the Bridge is all we need for cross-chain functionality; Chainlink gives us another layer of enterprise framework. No need to link to that.
OLT will work as the utility on the transaction layer for all the applications, if part of the CDBC solution uses the public protocol of OneLedger, OLT would be used there. And When we finalize the scope of the relationship, there will be a joint announcement.
New Finance system product
We are also working with a private company to launch a stable coin to be used as a payments solution for welfare services by the local government. This is at an advanced stage.
We are also finalizing a Nigerian independent financial partnership deal, where we will host their cryptocurrency on our platform for use in the domestic market.
the activities we are having right now, we are looking at many enquiries from the countries.
We sincerely appreciate the support in these last three months and looking forward to working together in the final quarter of 2021.