• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Investing DAM Finance releases testnet for its omnichain stablecoin d20
Investing

DAM Finance releases testnet for its omnichain stablecoin d20

by December 2, 2022
by December 2, 2022 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

DAM Finance, or DAM, a decentralised token platform behind the algorithmic stablecoin d20, has rolled out its testnet dubbed Moonwalkers v1, with the launch set to give ecosystem users the chance to stress test the protocol’s omnichain stablecoin.

The deployment is part of DAM’s push to bring to the crypto industry a decentralised solution that users can securely leverage to navigate the liquidity challenges that currently plague the DeFi ecosystem.

DAM unveils Moonwalkers v1 testnet

According to the DAM Finance team, the launch of its Moonwalkers v1 testnet is the next step in the effort to bring the blockchain platform’s innovative solutions to mainnet, moving beyond stablecoins to unlock novel functionality like yield-generating collateral.

Moonwalkers v1, which has been deployed on Ethereum (the Goerli Testnet) and Moonbeam (Moonbase Alpha) offers DAM community members a chance to test two things. There’s the d20 stablecoin, targeted at unlocking crypto ecosystem liquidity, and there’s dReservoir, a teleportation primitive that enables secure and seamless multi-chain stablecoin transfer.

To test this functionality, users need gas (network fee), which will allow them to mint d20 on the DAM app using USD Coin (USDC). The minted tokens can then be “teleport” from or to either the Goerli Testnet or Moonbase Alpha. Users can thereafter burn the minted d20 to redeem their USDC. Feedback from this process will help the DAM team to improve the product before mainnet launch.

Harrison Comfort, the co-founder of DAM Finance explained the importance of this testnet.

“We want to champion innovation by making it easier to securely direct stablecoin liquidity away from Ethereum towards newer networks without the constant vulnerabilities posed by bridges… d20 will help accelerate the adoption flywheel of emerging networks, and this is our first step towards making our omnichain promise a reality.”

As previously reported, DAM Finance has raised funds from the Arrington Capital Moonbeam Growth Fund as it looks to fuel growth across the Moonbeam ecosystem.

The post DAM Finance releases testnet for its omnichain stablecoin d20 appeared first on Invezz.

You Might Also Like
  • What Is An Implied Volatility Crush
  • SteadyOptions 2024 – Year in Review
  • Is it safe to buy Tesla stocks after Elon Musk’s recent selling?
  • Should I buy Salesforce shares after Q3 results?
Share
0
FacebookTwitterPinterestWhatsapp

previous post
As Asana stock price tumbles, has it become a bargain?
next post
Peloton stock price is surging: is this a dead cat bounce?

You may also like

30+ key statistics, facts and forecasts on China’s economy in...

January 9, 2023

Top 4 US banks reporting quarterly earnings this week

January 9, 2023

U.S. Fed lifts rates by 50 basis points

December 14, 2022

These two stocks could benefit from Southwest Airlines flight cancellations

December 28, 2022

Delta Neutral Trading: What Not to Do and How to...

April 2, 2023

Gene Munster: ‘AAPL should be a $250 stock’

January 4, 2023

IAG share price recovery hit by turbulence: More upside?

December 6, 2022

Delta Air Lines Q4 results: CEO expects strong demand for...

January 13, 2023

FTSE 100 forecast for December 2022

December 5, 2022

Moderna stock jumped 25% on a ‘big day for patients’

December 13, 2022

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Oil prices rise more than 1% as Israel vows to intensify attacks on Iran

      June 20, 2025
    • RRG Alert Tech Vaults to ‘Leading’—Is XLK Signaling a New Rally?

      June 20, 2025
    • Apple looking to make ‘premium’-priced folding iPhones starting next year, analyst says

      June 20, 2025
    • Nike pushes back Skims launch with Kim Kardashian due to production delays

      June 19, 2025
    • The Fed Is Getting It Wrong AGAIN As They Hold Rates Steady

      June 19, 2025

    Popular Posts

    • 1

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 3,599 views
    • 2

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,875 views
    • 3

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,578 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,541 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,417 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,142)
    • Investing (538)
    • Stock (2,621)

    Popular Posts

    • 1

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 2

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 3

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Oil prices rise more than 1% as Israel vows to...

      June 20, 2025
    • RRG Alert Tech Vaults to ‘Leading’—Is XLK Signaling a New...

      June 20, 2025
    • Apple looking to make ‘premium’-priced folding iPhones starting next year,...

      June 20, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,142)
    • Investing (538)
    • Stock (2,621)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Pro reacts to Musk selling another...

    December 15, 2022

    Nike shares rise after robust quarter...

    December 21, 2022

    Elon Musk seems to have a...

    November 29, 2022
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here