Ceres - Algorithmic Stablecoin on Iotex

Proposal details

Project Name

[Ceres]

Project Type

[ Algorithmic Stablecoin ]

Proposal Description

Ceres protocol is an algorithmic stablecoin protocol with superior stability, scalability and capital efficiency, aims to build an algorithm-based central bank and construct the infrastructure of the cryptocurrency world. Ceres protocol is based on innovative algorithms issues stablecoins named ASC with price pegged to $1, and continues to expand the scale of ASC quickly at high capital utilization efficiency, while maintaining the stability of ASC price. CRS is revenue and governance token of Ceres protocol.
Ceres protocol will be deployed on various public chains. Ceres protocol on each public chain interacts with each other through a cross-chain bridge.

Project Highlights:
Partial and Diversified Collateral-Ceres uses partial collateral as value support ensuring price stability, while realizes the diversification and complete decentralization of collateral.
Protocol Controlled Value-Completely control stablecoin issuance by smart contract. Alleviate fluctuations caused by human interference and emotion, and respond to market demand in a timely manner.
Asset Reserve Central Bank-Accommodates the collateral and other crypto assets for minting stablecoin. Creative staking method helps continuously attract honest liquidity to expand the scale of ASC.
Comprehensive Value Capture-Feedback the benefits obtained in the development process of Ceres to the participating users and funds. Forming a positive interaction and positive cycle of development and benefits.

Advantages:
Stability-Partial collateral, PCV and central bank brings a significant increase in stability
Scalability-Central bank enable users and funds to participate at a low threshold and obtain more substantial returns through comprehensive value capture, which will rapidly expand the scale of ASC
Capital Efficiency-Continuously improves the efficiency of capital utilization by central bank, which means obtain superior stability and scalability at a lower cost
Complete Decentralization-Involves diversified native crypto assets as collateral , achieve complete decentralization, get rid the influence of centralized finance

Collaborate with the Iotex ecosystem
Ceres is an innovative algorithmic stablecoin that can be integrated with the Iotex ecosystem to reach a win-win collaboration. The stablecoin ASC issued by Ceres can be used as a stablecoin in all kinds of DAPPs of Iotex ecosystem, just like DAI’s significance to the Ethereum ecosystem. In addition, Ceres’ Reserved Assets Adapter supports diversified assets on Iotex chain as collateral to issue stablecoins, helping Iotex lock in more liquidity.
Meanwhile, the assets on the Iotex chain can be involved to bring more stability and scalability into Ceres as value support.

Milestones

  • Milestone 1: Deploy Ceres protocol on the Iotex Testnet
    • Duration (weeks): 2 weeks
    • Deliverables: The DeFi APP of Ceres on Iotex Testnet, including components of Dashboard, Central Bank, Treasury, Swap, Oracle
    • Funds request (USD): 5000 USD
  • Milestone 2: Deploy Ceres protocol on the Iotex Mainnet
    • Duration (weeks): 2 weeks after finishing audit of Ceres smart contract
    • Deliverables: The DeFi APP of Ceres on Iotex Mainnet, including components of Dashboard, Central Bank, Treasury, Swap, Oracle
    • Funds request (USD): 5000 USD
  • Milestone 3: Launch staking on the Iotex Mainnet, collaborate with Iotex ecosystem, support Iotex assets as Ceres collateral to issue stablecoins, and Continuously increase TVL.

Total funds requested

[ 10000 USD ]

About your Team

Andrew Olah
Co-Founder, 10+ years of Internet and Blockchain industry experience. Serial entrepreneur of multiple crypto projects. Expert of crypto investment, operation and marketing.
Ilya Prigogine
Co-Founder, 10+ years of Internet and Blockchain industry experience. Serial entrepreneur of multiple crypto projects. Senior blockchain architect and technical geek.

Metrics

[ 10000+ ]

Links

Website: https://ceres.money/
APP: https://app.ceres.money/
Whitepaper: https://docs.ceres.money/
Telegram: Telegram: Contact @Ceresmoney
Twitter: https://twitter.com/Ceresmoney
Medium: CERES – Medium
Github: Ceres-Coin · GitHub

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