BarterTrade All Set For a Q3 Launch With Tellor Oracle DeFi Protocol Among One of the 7 Digital Assets
BarterTrade will list DeFi Oracle Tellor ($TRB) upon launch.
BarterTrade is a revolutionary modern-day digital asset trading platform established back in 2017 during the peak of the ICO boom. BarterTrade is all set for its official launch in the third quarter of 2020 with 7 digital assets including Tellor, a DeFi protocol set to help smart contracts access real-time data using a Proof-of-Work system.
BarterTrade has been in development for over two years and has incorporated the needs of both the beginner or new traders as well as institutional clients who deal in hundreds of thousands of dollars worth of trade. The platform offers a number of services which include:
- Algo Trading,
- Spot Trading,
- Social trading,
- Margin trading,
- P2P Lending,
- DEX platform,
- Payment network
- Barter Marketplace
The platform’s Algo trading service would be a first of its kind in the decentralized space powered by the revolutionary Flourishing Capital AI bot. The AI bot actively adapts to the trading strategy using which it can help traders generate profit during the bull market while preserving capital when bears are more dominant in the market. The AI bot takes into account a number of factors including Blockchain analysis, Multi-exchange order book analysis, Technical analysis, Statistical anomaly analysis, Stable coin arbitrage, and Overall supply, demand analysis to optimize the traders’s portfolio and drive higher risk-adjusted returns via automatic, real-time market conditions based portfolio optimization.
Among the 7 digital assets that are going to be launched, Tellor is the most notable one due to its association with the Decentralized Finances (DeFi) ecosystem. Tellor would offer live data feeds for DeFi smart contracts to ensure the correct pricing of assets. Defi has emerged as one of the fastest-growing markets in the decentralized space and has captured the attention of many. Thus, it is very important to ensure the smart contracts powering the ecosystem has access to the latest data on pricing. This is where Tellor comes into the Picture.
The native token for BarterTrade would be represented by a BRT ticker and has a total market supply of 240,000,000. BRT tokens would act as a utility token which can be utilized to get discounts, pay trading fee, commission fee, and much more. The token distribution has been listed below
FUNDING – 67,200,000 BRT (28%)
Pre-sale – 20% :48,000,000 BRT
Public sale – 8 % :19,200,000 BRT
USAGE – 172,800,000 BRT (72%)
Barter Trade is currently undergoing a private token sale in various telegram communities.
Tellor Oracle Aims To Revolutionize DeFi With Live Data Feeds
Tellor, an Ethereum centered decentralized oracle protocol promising to end the dependence of smart contracts and blockchain networks on third-party centralized data providers. The Oracle aims to become the goto data provider for various Defi protocols working on smart contracts and enhance the ecosystem slated to be the next big thing in the decentralized space. Tellor protocol is all set for an official launch on BarterTrade in Q3 of 2020.
Smart contracts on Ethereum cannot access real-time data from outside once the contract is created. However, the price of crypto is volatile and changes almost every minute, thus there could be a price difference between the time the smart contract was created and the time the contract was executed which could lead to disputes in several cases. Tellor solves this problem with decentralized oracles.
Tellor Oracle creates a Proof-of-Work based system where miners compete to add live data feeds for the requested data from the client. The data is submitted to an on-chain data bank accessible to smart contracts. The demanded data could be anything from live price feeds of Ether against US Dollars or any other asset based on the needs of the smart contract. The client pays a miner fee in the form of Tributes, the native token of the platform.
The basic flow for adding and retrieving data is as follows:
1) The user submits a query to the Oracle using Tributes to incentivize miners to choose this query over other submissions.
2) Other users who want the same data payor ‘tip’ this data series to further incentivize selection by miners.
3) Every 10 minutes, the Oracle selects the best-funded query and provides a new challenge for miners to solve.
4) Miners submit their PoW solution and off-chain data point to the Oracle contract. The Oracle contract sorts the values as they come in and as soon as five values are received, the official value (median of the five) is selected and saved on-chain. The miners are then allocated their payout (base reward and tips).
5) Anyone holding Tellor Tributes can dispute the validity of a mined value within one day of it being mined by paying a dispute fee. Over the next week, Tellor token holders will vote on the validity of the data point; if the data point is deemed to be false, the miner will lose their stake. However, if the vote determines the value is correct, the reporting party’s dispute fee is given to the reported miner.
With the DeFi hype at an all-time high Tellor Oracle could prove to be a game-changer for real-time data feeds and can be incorporated by many DeFi protocols to ensure the best smart contract execution.
BarterTrade Contact Information
Twitter – https://twitter.com/bartertradeio
Telegram – https://t.me/BarterTradeofficial
Tellor Contact Information
Website – https://tellor.io/
Twitter – https://twitter.com/WeAreTellor
Telegram – https://t.me/tellor