Themis is an exciting protocol that aims to bring Defi to the booming Metaverse and GameFi economies. It will enable its customers to use their NFTs as collateral for loans, as well as leverage them. Moreover, users will earn Defi yields driven higher by simply playing their favorite on-chain games. Themis wanted to offer leverage to liquidity providers. As a result, customers can now leverage UNI-V3 LPsLP’s, which are represented as NFTs, to borrow stablecoins. And they can do that without giving up their original position.
With this approach, the trading fees alone would be enough to self-redeem the entire loan in many cases, including the interest. That would be a loan that pays itself back. In addition, the team is scaling liquidity provision for market makers, launchpads, and long-term holders. Themis aims to bring liquidity to the otherwise illiquid metaverse.
How does this protocol work?
Themis is a decentralized P2P lending protocol. The team has built it on Ethereum. It is compatible with ERC-721/ERC-1155 assets. And it enables customers to create anonymous lending between pools of funds and mortgagers of NFTs. Market participants will also be able to obtain market-making benefits. They can do that simply by forming loan settlement relationships with the capital pool to borrow crypto assets for other purposes.
Moreover, users will get interest-bearing SP-tokens by depositing assets into a pool of funds. The team noted that the platform would form a 1:1 equivalent anchoring relationship between SP-token and deposited assets. It will also automatically adjust the agreed interest formed between the lending pool and the deposit according to the pool’s utilization rate. Meanwhile, users will be able to create Vaults to generate long-term deposits, as well as obtain NFT certificates of deposit.
The company will also allow users to borrow assets by collateralizing their NFTs, including UNI-V3 ones. It will use Uniswap’s V3 Oracles for quotations and, thus, will be able to provide TWAP on demand. According to the team, it will liquidate the mortgage to ensure the security of the loan capital pool once liquidation conditions are met. After the customer returns the principal and interest, the company will charge 5% of the user’s return interest.
What other advantages does this platform offer?
Themis team noted that liquidators would receive governance token incentives immediately after liquidation settlement. The protocol has its native utility token TMS, which will offer many benefits to its holders.
While most Defi protocols only allow the lending of ERC20 assets, Themis wants to utilize assets spanning multiple chains. That makes this platform the ultimate money lego as the usage scenarios are endless. Themis offers a highly efficient funds pool model, and it’s ERC721/ERC1155 compatible and easy to use. The team plans to launch its native token in April. The total supply of TMS is 800,000,000.
Thanks to the Themis protocol, customers will be able to manage their assets to earn interest, use the liquidity of SP-tokens to create derivatives, and use SP-Token as collateral. Moreover, traders will increase capital leverage and unlock liquidity.
What is Muon, and why is its token in the spotlight?
Muon is a decentralized Nodes as a service Network. It enables running Web2 and Web3 applications, on-chain, off-chain, and cross-chain. According to the team, this network acts as a base layer that bridges the division between blockchains. Thus, it creates a fluid Defi ecosystem. This layer exists between blockchains, connecting different protocols and allowing them to talk to each other. Muon ensures blockchain interoperability with such an approach.
While blockchains are great for storing valuable data securely, connecting this data to other chains or sources is still quite difficult. This is where this network comes in: Muon’s elementary node layer allows external smart contracts to perform complex computations securely. And it managed to do that at zero gas cost through off-chain computation.
The company will give partnering blockchain projects high-speed performance by means of its data-on-demand principle. In fact, Muon aims to become an industry leader in its respective fields.
The platform’s core consensus layer is a unique and completely new type of system. The team dubbed it Secure Subsequential Consensus. Through adaptive collateralization, the protocol will be able to ensure fast execution times. It will simultaneously make sure that node consensus can be reached.
Besides, the Muon network is not a chain, and it doesn’t store data permanently. Therefore, the network will easily scale horizontally without any limits. With this platform, any Web3 app will be able to run high-level, tamper-proof computations within its own Muon app container. In addition, nodes running the same app can gossip and even work together, thus, forming a decentralized super-computer.
Why should Defi users choose this network?
Muon offers many advantages. It doesn’t require nodes to run all apps. With this platform, Web3 developers will have the opportunity to shift between the trade-offs this configuration yields. Besides, Muon is both fast and secure.
According to the company, oracles will provide reliable, immutable, trustworthy, and traceable data. When multiple sources, like Muon nodes, verify an oracle’s information to be true, the platform forms a ‘consensus’ on accurate data. The team noted that one of the first oracles built on Muon was a stock price oracle. It’s called Pythia and provides prices to DEUS Finance for 50,000+ stocks almost instantaneously. Pythia managed to do this by leveraging Muon’s node-based infrastructure. It’s effective and very fast.
Muon also creates bridges between all blockchains. Users can bridge any type of data cross-chain with this platform. Currently, the team designs and implements two types of bridges: Permissionless Bridges and DEUS Bridges.
The permissionless bridges follow the same logical steps as any other bridge, asserting what steps need to be undertaken to successfully bridge data and assets. However, Muon’s core difference is the way it handles signatures and reaches consensus.
A key element of permissionless bridges is that customers need to create the tools on the new chain themselves, such as liquidity pools and exchanges. On the other hand, the DEUS bridges include liquidity pools by default. Thus, the admins have to simply create/fill the liquidity pools, while the actual bridging is permissionless.
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