Trustlines Network

Trustlines Network

Trustlines Network is a credit currency based on people, a debt between acquaintances. Everyone can be regarded as the role of the bank. According to the actual situation, a certain amount of credit is granted to acquaintances. For strangers, you can pay through the chain of acquaintances.

Because it is socially based, no bank authentication is required. Acquaintances grant a certain amount of credit based on their understanding of each other, and pay through debts. According to the theory of six degrees of connections, if enough people participate, the system can find a very short path to form this chain of trust.

The decentralized foreign exchange platform Vertex Protocol public testnet is officially launched Arbitrum: On November 22, the decentralized foreign exchange platform Vertex Protocol tweeted that the Vertex public testnet was officially launched. It is reported that Vertex is a CLOB built on the Arbitrum network, a cross-margin (cross-margin mode) DEX agreement, including spot, contract futures and money markets.

It is reported that Vertex originally planned to launch Terra, but finally decided to list Arbitum. On April 26 this year, Vertex Protocol completed a $8.5 million seed round of financing, led by Hack VC, Dexterity Capital, Jane Street, Hudson River Trading, etc. [2022/11/22 7:56:36]

Credit currency can solve some of the problems of encrypted commodity currency. First of all, the original "planned economy" currency issuance method is changed, and the monetary policy adjustment is very flexible. Everyone can adjust the credit line and interest rate according to the usage situation in real time based on the understanding of acquaintances, and the currency is completely sufficient. Secondly, because debt is just a unit, not a commodity, it can be a unit of legal currency or a custom unit. For the currency in the community, the inflation rate can even be defined, so there will be no excessive fluctuations in the price of cryptocurrency The problem. Everyone does not need to buy commodity currency to participate, but only requires acquaintances to grant credit for themselves, which solves the problem of unfairness. And currency is just a unit, free from the shackles of legal currency.

Data: Uniswap v3 accounted for 78.7% of the Arbitrum chain DEX transaction volume, hitting a record high: On October 5, according to Uniswap’s official Twitter, Uniswap v3’s data on the Arbitrum chain has reached a record high, and its DEX market share has reached 78.7%. According to statistics from Uniswap, the market share of Uniswap v3 fell below 50% in June this year, and then gradually increased until it reached an all-time high (ATH) in October. [2022/10/5 18:40:04]

There may be a problem with the trust chain method alone, that is, it is more difficult to reach a common currency, and the efficiency may be affected. But people can also establish a community or "country" to issue a common currency. Alternatively, a "pyramid" approach can be adopted. Banks and other financial institutions can participate as the top of the pyramid, small companies or groups as the middle layer, and ordinary users at the bottom of the pyramid. Through this pyramid method, it is very easy to establish a chain of trust between people. Although there is a certain degree of centralization in this way, the efficiency is very high, and it is very easy to connect with the existing financial system. And in cryptocurrency, miners are also a kind of center with the right to issue currency. In addition, a P2P cryptocurrency trading platform will be established on the Trustlines Network, and users who cannot generate a trust chain can pay by purchasing ETH.

Dynamics | TrustToken and encryption custodian service provider Legacy Trust cooperate to launch the stable currency TrueHKD: According to Finance Magnates, TrustToken’s Hong Kong-authorized encryption custodian service provider Legacy Trust has cooperated to hold the legal currency that provides guarantee for the Hong Kong dollar-linked stable currency TrueHKD. This is the company's first hosting partnership outside of the United States. Jai An, CEO of TrustToken, said: "We are excited to partner with Legacy Trust to expand into the Asian market. Our goal is to provide traders with better solutions that allow them to securely trade their fiat currency in their home countries and global regions. Blockchain marketplaces and apps for transactions.” TrueHKD, which can be purchased from the company’s app by Hong Kong residents or anyone holding fiat currency, will also allow TrueHKD holders access to TrustToken’s exchange network, partners and wallets. [2019/6/25]

Tags：Trustlines Networkcredit lendingRipple

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