DAM Finance unveils out the Moonwalkers v1 testnet

To deploy a decentralized omnichain stablecoin solution to securely address the liquidity challenges facing the broader decentralized finance (DeFi) ecosystem, DAM Finance has launched the Moonwalker v1 testnet. rice field.

The Moonwalkers v1 testnet laid the groundwork for DAM’s solution, which DAM plans to deploy on its mainnet after the testnet phase. This provides users with a wide range of assets, including yield-generating collateral.

Using Moonwalker V1 Testnet

The Moonwalker v1 testnet is deployed on both Ethereum’s Goerli testnet and Moonbeam’s Moonbase Alpha, an EVM-compatible chain built on Polkadot.

Members of the DAM community can use existing stablecoins such as USDC on Ethereum to directly create DAM’s decentralized omnichain stablecoin d20. You can then teleport d20 from Goerli Testnet to Moonbase Alpha. The user can then spend his d20 stablecoin in his Polkadot ecosystem or teleport the stablecoin to his Ethereum to redeem the collateral originally promised by burning the d20. I can.

The user then tests d20 and its teleportation primitive, dReservoir. dReservoir facilitates the secure and smooth transfer of d20 over the network, unlocking liquidity for popular digital assets. Throughout the process, testnet participants will be able to provide feedback on the user interface and user experience, and offer suggestions to the DAM finance team on how to improve the product before rolling out the public version.

Speaking about the testnet launch, DAM co-founder Harrison Comfort said:

“We want to champion innovation by making it easier to safely divert stablecoin liquidity from Ethereum to new networks without the bridge creating constant vulnerabilities. It will help accelerate flywheel adoption for emerging networks, which is the first step in realizing the promise of omnichain.”

What is DAM Finance?

DAM Finance is a decentralized protocol that allows users to teleport their scalable omnichain stablecoin d20 to new networks. It also has a risk management wrapper with configurable mitigation variables.

DAM is backed by several tokens and its stablecoin d20 is useful within the Polkadot ecosystem.

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