MAHADOA & UMBRELLA NETWORK: UTILIZING PRICE ORACLES TO MAINTAIN THE ARTHCOIN
MAHADOA & UMBRELLA NETWORK: UTILIZING PRICE ORACLES TO MAINTAIN THE ARTHCOIN
WHAT MAHADOA ENTAILS
The mahadoa is a stablecoin project that is regulated in a decentralized manner by individuals of the MAHA community who are in possession of the MAHA token. The mahadoa community has designed a valuecoin called the ARTH token which serves as the network's native currency while the MAHA is its governance token.
The ARTH token of mahadoa is designed to solve the problem of fluctuations in value of assets, it achieves this aim by sustaining its price irrespective of the market change in price. The fact that ARTHCOIN is pinned to the GMU makes it possible for it to provide assets with stable values.
ABOUT THE UMBRELLA NETWORK
The umbrella network is an oracle of decentralized finance and blockchain ecosystem that has scalability potentials and functions at a less expensive cost . The network has a second layer technical output which makes use of highly sophisticated Merkle tree technologies to encrypt several data points on a unified chain.
This process allows data to be lodged to the smart contract correctly, to the umbrella network it is realistic to achieve price oracle owned by the ecosystem but more importantly to establish a decentralized financial network.
PARTNERSHIP DESCRIPTION
The MAHADOA utility coin which is stable, value is backed by an unrelated and a vast pool of wealth informations which can also be described as the GMU..
The umbrella network on the other hand with its price oracles will ensure the safety and scalabilty of various pools of data provided both within the digital ecosystem and the physical world to the MAHADOA community.
This means that the MAHADOA will leverages on the umbrella network's oracles to ascertain the the price value of assets that are on the GMU, which is basically interested in maintaining the price value of ARTH against fluctuations in the market.
As earlier stated, MAHADOA being an unrelated and involving varieties incorporates the use of paper currencies as well as digital money to ensure. Maintenance in the value of assets.
Given that both MAHADOA and the UMBRELLA Network are projects of the polkastarter ecosysyem, the umbrella network will make through its oracles will make available to the MAHADOA useful, quick and authentic asset informations to enable it maintain the value of the ARTHCOIN by ascertaining the normal price of variaties if assets both digital and physical.
WHY PRICE ORACLES?
As the value of locked assets increases, there is need for oracles which are very essential to the decentralized finance ecosystem, advanced and reliable price oracles are important if the growth of the decentralized finance must be achieved. Hence the mahadoa community tiredlessly encourage transparent and reliable data agregation of the oracles which is regarded as an important stucture in the establishment of the Defi.
CONCLUSION
It is no news that algorithmic stablecoins are the next big thing of the decentralized finance, as such the partnership between MAHADOA,a stablecoin coin project of the MAHA community which has created the ARTHCOIN to solve the problem of value fluctuations and the umbrella network which uses its price oracle for asset scalabilty and data agregation from both on-chain and off-chain, unifying data from both physical cash and digital assets is definitely a mind blowing collaboration for the next level of the Defi.
Writter @Slimyvicky
Website. https://mahadao.com/