Defi.Org Accelerator Launches Open DeFi Notification Protocol by Orbs
- Orbs, a decentralized public blockchain platform announced the launch of the Open DeFi Notification Protocol.
- This is designed to supply users with free mobile notifications for consequential on-chain events.
Orbs, a decentralized public blockchain platform announced the launch its Open DeFi Notification Protocol. In detail, this is designed to give users free mobile notifications regarding consequential on-chain events.
This chain-agnostic protocol actually originated from the DeFi.Org Accelerator — a joint venture between Orbs, Binance, and Moonstake. The Accelerator, moreover, helped founders to launch the next wave of innovation in DeFi (decentralized finance), providing liquidity, mentorship, and exposure to market players.
Furthermore, the Open DeFi Notification Protocol is Orbs’ newest contribution to the aforementioned venture. It leverages contributions from community members, to record events such as rewards, price swings, near liquidations, stop loss, upgrades, new governance votes, and many others.
Through gaining such data, DeFi users, traders, and liquidity providers will be able to manage their activities better and avoid losses, especially during market volatility.
Orbs Co-founder, Tal Kol, commented,
“Transparency is a hallmark of blockchain, yet reliable mobile notifications that can aid the DeFi community are virtually nonexistent. Our talented team has created a user-friendly protocol that functions almost like a reactive DeFi assistant, alerting users to the possibility of impending liquidations, significant price swings, contract upgrades, and the like. We are positive it will make a huge impact.”
However, the initial beta version of the protocol will use a centralized node to track and display updates. As a result, Orbs intends to launch an updated version, which uses the eponymous network’s set of independent nodes, to shift to further decentralization.
Tal Kol also added,
“The great thing about the Protocol is that it can work with emerging DeFi projects. All that’s required is the implementation of a simple JavaScript web3 class, to extract the notification from the on-chain data. This is then contributed via PR to the Protocol Github repo.”
To clarify, with a simple 30-minute integration on Github, any deFi project will be able to give its users free mobile notifications — a feature that will help them gain an edge on rival protocols.
In addition to all these, Open DeFi Notification Protocol will allow users to set up any number of alerts for different DeFi apps — with the ability to integrate an open-source web component directly within several dApps’ front-end architecture.
What’s more, users just simply have to download the mobile app, “DeFi Notifications” for iOS and Android, or they can scan their address QR in MetaMask (or the position QR in the app’s UI). Also, no registration is required.
To know more, there is an example video of the Protocol working with Sushi, that is already uploaded in Orbs’ official YouTube channel.
Read more: https://coinquora.com/defi-org-accelerator-launches-open-defi-notification-protocol-by-orbs/
Text source: News – CoinQuora – Latest Cryptocurrency and Block
