MDT Launches A Blockchain Database To Boost The Uptake Of DeFi

Measurable Data Token (MDT) has announced the introduction of Measurable Finance (MeFi), a blockchain-based analytics service that will connect conventional monetary data marketplaces to the decentralized finance (DeFi) industry. Measurable Finance (MeFi) will be available in the next few weeks. To demonstrate the program’s functionality, the team built a decentralized application (DApp) that is available on both the Ethereum and Testnet blockchain systems and that allows DeFi respondents to connect stock trading information from some of the globe’s biggest monetary markets, such as the Nasdaq, the Hong Kong Stock Exchange (HKEX), and the New York Stock Exchange (NYSE).

Decentralized info network, MDT hopes to bring the DeFi business into the masses by bringing the difference between the real-world and on-chain worlds together with this launch of new offerings. A third-party independent dataset, such as worldwide weather degrees or sports results, which exists outside of the blockchain domain yet, can be used to validate smart agreements is referred to as an Oracle.

Bloomberg on Blockchain

Oracles can be used to validate smart contracts in a variety of ways. They can be compared to application programming interfaces (APIs), which allow compatible interaction between two software units to take place. This system is being utilized by several projects in the blockchain sector, including Protocol and Chainlink Band, among others.

The co-creator of the Measurable Data Token, Heatherm Huang, spoke about data as a powerhouse in the financial system, and went on to say: “If DeFi is to become widespread, DeFi breakthroughs and DApps must link with the external environments.” MeFi is known as the “Bloomberg on blockchain” because it is safe links among blockchain smart agreements and financial markets allow programmers to obtain trustworthy external financial information while still on the blockchain.”

The program has also indicated plans to broaden the range of financial records to also include futures and exchange-traded funds by the acceptance of its native token, MDT. 

MonoX Mainnet Debuts On Ethereum And Polygon

MonoX, an automated market maker (AMM), has declared the debut of its Mainnet infrastructure, which allows investors to buy and sell on the Ethereum and Polygon blockchains. With this new program, MonoX hopes to create a low-cost and available platform for both financial intermediaries and traders interested in token exchange services. Conventional decentralized exchanges (DEXs) like dYdX demand projects to supply two tokens to establish a trading pair, increasing the financial barrier.

With solitary liquidity, projects just need to wager their token, increasing total liquidity in the market. The following liquidity categories will be available upon commencement, per the declaration: USDC, WBTC, and USDT are assets on Ethereum, while Polygon (MATIC), USDC, WBTC, and Wrapped Ether (ETH) are assets on Polyon (Polyon) (WETH).

The AMM secured $5 million in the previous month to help initiatives offering swap, lending, and financing derivative products on decentralized markets (DEXes). The technology was still in beta, but this news heralds the start of full-scale DeFi deployment.