The Standard
The Standard
The Standard Protocol is a cutting-edge decentralized finance (DeFi) lending platform that provides users access to trillions of dollars in rare assets, including gold, cryptocurrencies, and in-game item NFTs. Users can borrow stable cryptocurrencies pegged to their local fiat currency by collateralizing their assets, securely stored in decentralized smart contracts called "Smart Vaults." This ensures that users retain control of their private keys, preventing third-party speculation on their collateral. The protocol allows for 0% interest borrowing without relying on a third party.
Initially, users can borrow "Standard Euro (sEURO)," a fiat Euro pegged stablecoin, with other stablecoins like sUSD and sYen to follow. The protocol supports multiple collateral types in a single vault, enabling the trading of locked assets within the smart vault while maintaining their collateral status. Smart vaults and associated debt can be sold as NFTs, offering flexibility in debt management.
Governance of the protocol is vested in the Standard DAO, a Decentralized Autonomous Organization comprised of Standard Token (TST) holders. TST holders participate in governing the protocol through smart voting mechanisms, earning staking rewards and income from global lending and other fees.
The Standard Protocol distinguishes itself from failed stablecoins by being backed by real-world value rather than relying solely on algorithms. Operating on a decentralized Layer 2 solution for Ethereum, the Standard smart contracts utilize zero-knowledge proof (zkEVM) technology for trustless and secure transactions.
Inspired by the historical Gold Standard, The Standard introduces a new era of privatized and decentralized stable virtual currencies backed by valuable rare assets, offering unprecedented flexibility and security for borrowers.
Problems with Solutions
Current DeFi lending platforms encounter challenges such as variable interest rates, rigid collateral management, limited asset types, centralization risks, and high transaction fees on Layer 1 Ethereum. The proposed solution is The Standard Protocol, introducing a global standard for decentralized lending and stablecoins. Unlike fiat-backed stablecoins like Tether and USDC, The Standard Protocol backs stablecoins with tokenized physical and blue-chip crypto assets, aiming to create a decentralized pegging mechanism for a digital mirror of every fiat currency.
Key features of The Standard Protocol include stable 0% interest rates, improved collateral management allowing users to swap locked collateral without debt repayment, support for multiple collateral types, and the exclusion of centralized fiat coins like USDC as collateral. Users can mint stablecoins pegged to their local currency, contributing to the development of a blockchain FX market with a stablecoin for every major global currency.
The protocol utilizes Layer 2 implementation, specifically zkEVM, for efficient transaction processing and reduced fees compared to Layer 1 Ethereum-based platforms. Overall, The Standard Protocol seeks to address challenges in the DeFi lending ecosystem, providing innovative solutions for long-term financial planning, diverse lending options, and accessibility on a global scale.
The Standard Protocol aims to launch the first stablecoin, Standard Euro (sEURO), and subsequently create stablecoins for major fiat currencies. sEURO will be minted by locking up tokenized hard and digital assets in Smart Vaults, similar to collateralized debt positions, allowing users to retain assets while borrowing liquidity. The launch strategy involves an Initial Discount Curve Offering, an Initial Bonding Curve, TST Staking, and the introduction of Private Smart Vaults.
To ensure success, the protocol accumulates Protocol Controlled Value (PCV) managed by the DAO, serving as a stability pool and deployed on secondary markets for liquidity. The launch phases involve discounts, bonding curves, and TST staking to incentivize user participation and over-collateralize the stability pool.
The use cases of The Standard Protocol encompass generating staking income, protecting savings against inflation, leveraging fiat devaluation, facilitating instant peer-to-peer payments, participating in DeFi with physical collateral, and saving mortgage and loan costs. The protocol aims to enable exotic collateral types like tokenized stock, real estate, and in-game item NFTs, unlocking liquidity without selling and attracting capital gains taxes.
For gold/silver vaulting facilities, the protocol enables income streams by tokenizing assets and offering borrowing against them at 0% interest. It also attracts new customers and adds DeFi use cases for precious metals. For DAOs, it facilitates payments in local currency, hedging for governance tokens, and benefits from a growing ecosystem, allowing cross-chain payments and collateralizing Smart Vaults with governance tokens. Overall, The Standard Protocol strives to address diverse financial needs and unlock liquidity through innovative stablecoin solutions.
Asset Custodians in The Standard Protocol are typically gold retailers offering allocated bullion products secured in high-security vaults like Brinks. Commodity Token projects, specializing in asset tokenization, can be accepted as collateral in Smart Vaults after evaluation by The Standard DAO. The protocol assists traditional vaulting facilities in tokenizing assets to meet DAO criteria.
Requirements for Commodity Token Projects include 99.99% certified gold bars, LBMA Good Delivery Standard manufacturing, top-tier vaulting, 100% insurance, biannual audits by recognized firms, and a minimum five-year operating history. Becoming a custodian is facilitated by community consultants within The Standard Protocol.
The primary income streams for the protocol include fees and deployment of protocol-controlled value. Fees include a one-time Minting Fee for borrowers, a Burning Fee for debt repayment, and an Emergency Stability Fee to control fiat pegs. Additional fees, paid in TST, cover services like alarms, NFT sales of smart vaults, and trading locked collateral, contributing to platform functionality and stability. In summary, The Standard Protocol charges fees to ensure stability, generate income, and maintain the ecosystem, supporting its growth and success.
The liquidation pool in The Standard Protocol is a crucial element allowing users to commit sEURO and TST in equal proportions to acquire liquidated assets at a discount when a smart vault's collateralization falls below 110%. Participants can withdraw their tokens from the pool, but they must maintain an equal or higher TST amount compared to sEURO staked.
The minimum stake for the pool is 100 sEURO, subject to DAO adjustments for adaptability. The distribution formula ensures fair asset distribution based on participants' contributions. A liquidation bonus, around 10% of total assets, is granted to pool participants when a smart vault is liquidated.
Gas fees during liquidation are covered by a portion of participants' profits, calculated based on net profit and prevailing gas prices. Burning sEURO when paying off liquidated vaults maintains system stability, reducing circulating sEURO.
Liquidated assets are distributed among pool participants based on their distributions, incentivizing TST holders to participate. This mechanism ensures over-collateralization, burns sEURO for a balanced ratio, and fosters a stable system. The revised distribution guarantees all participants profit, enhancing equity and stability.
The total value of assets in the vault is 20,000 sEURO
ETH worth 5,000 sEURO
WBTC worth 10,000 sEURO
PAXG worth 5,000 sEURO
Borrow with 0% interest
"Secure your crypto assets, such as ETH, WBTC, ARB, LINK, & PAXG tokenized gold, in smart contracts that you control and no one else, then effortlessly borrow stablecoins with 0% interest loans and no time limit to pay back.
No need to ever trust third parties like BlockFi, Silicon Valley Bank, or Celsius with your private keys.
Prevent losses by swapping locked collateral into tokenized gold in a bear market or your favorite coin in crypto bull markets.
Transparency
Not your keys, not your crypto.
Don't trust banks like Silicon Valley Bank, BlockFi, or Celsius to hold your collateral assets; Simply lock your collateral into a smart contract that only you control. No one can touch your collateral but you!
Send crypto to a smart contract that you control
Everyone can see there is more collateral than stablecoins
All collateral is accounted for in real-time.
Every major fiat
Not just USD pegged?
Every fiat needs a blockchain equivalent, not just the US.
If you are a freelancer in India then you want to invoice in an INR-pegged stablecoin. The Standard aims to release a stablecoin for every major fiat.
This enables blockchain based FX markets.
Global trade and remittances
Trillion dollar opportunity
Borrow @ 0% interest
No interest when borrowing stablecoins.
TheStandard's 0% interest borrowing is a DeFi game-changer, offering accessible financial solutions without added costs. As inflation now reduces the real debt burden, borrowers using TheStandard benefit from global inflation rather than suffer from it.
0% interest loans
no time limit to pay back the debt
Trade locked collateral
Don't miss out on moonshots
The Standard gives you the option to trade locked collateral, which you have borrowed against, for an equal value of another crypto asset. This flexibility allows you to adjust your investments without paying back your debt and withdrawing the original collateral.
Trade into an asset that you think will moon
Trade into tokenised gold if crypto is bearish
Bot trading / auto trading
Reduce chance of liquidation
Sell debt as an NFT
NFTs arn't just for art.
We are building the next generation of dynamic DeFi NFTs. Every smart vault is represented as an NFT; whoever owns that NFT can pay the debt off and withdraw the collateral. This enables people who have a large debt positions to sell that debt for fast liquidity.
Can't afford to pay off your debt but need liquidity?
Secondary DeFi debt markets
New use case for NFT's
Benefits
As a TST holder, you'll be part of TheStandard Protocol ecosystem, unlocking exclusive features and participating in governance decisions.
All fees collected from everyone borrowing or paying back debts are pooled and distributed to TST holders who stake and vote on protocol matters.
Income potential is boosted by TST scarcity through burning when users pay for unlocking features.
Staking
Earn fees paid into the protocol
Discounted transaction fees
Unlock features
Buy liquidated assets under market value
Advanced analytics and insights
Vote on the direction of the protocol
Use TST for
Collateral liquidation warning alarms
Auto collateral trading bot
Auto rebalancing of portfolio
Automated yield farming strategies
Access exclusive community events
Protocol Roadmap
Phase 1
Planning and research
Planning and research
Write whitepaper
Onboard Advisors
Gather Developers
Raise seed round
Informative Landing Page
Design Front End
Legalities and Compliance
Smart Contract R&D
Phase 2
Launching MVP
Build Community
Launch EUROs IBCO
Over-Collateralise EUROs
Create Partnerships
Launch 1st Smart Vault
Launch Smart Vault NFTs
Launch on DEX
Launch on CEX
DAO voting
Phase 3
Expansion
Collateral trading
Liquidation Pools
10 Collateral types
Launch USDs IBCO
Launch zkEVM
Major CEX listing
Stop Loss, Alarms
USDs Smart Vaults
3 more Pegtokens
Payment process partners
Phase 4
World Domination
Release 50 Pegtokens
100+ collateral types
Smart DCA repay
15 tokenized gold partners
Share pegged Assets
Commodity pegtokens
Most major exchanges
Cross every major chain
Quantum entanglement
Protocol Advisors
Dr. Jane Thomason
Advisor-DAO Governance
Dr Jane Thomason is a thought leader in technological innovation, fintech and blockchain for social impact. She was named by Forbes as a leader in Blockchain for Social Impact and is a published author. She holds a large number of academic and commercial positions including a seat on the board of a major bank and co-founded the British Blockchain and Frontier Technology Association.
Faraj Abutalibov
Crypto VC Dubai /Mid East
Faraj is the founder of a Large crypto executives’ community with 430 C-Level executives from the crypto world. Mr Abutalibov is also a co-founder of the Crypto VC (Sharara) and crypto media (Gulf Crypto Insight).
Patri Friedman
Economic Philosophy / Decentral Planning
Patri comes from a long line of famous economists, he is the grandson of Milton Friedman and son of David D. Friedman. Patri is the founder of the Seasteading movement and advises many innovative governance focused organisations. Patri previously spent 10 years at Google as an engineer and 10 years as the GP of Zarco Investment Group. He has a BS in Math from Harvey Mudd College, an MS in CS from Stanford University, and an MBA from Cardean University.
Hartej Sawhney
Smart Contract Security
Hartej Sawhney is the godfather of smart contract auditing, pioneering the industry in 2015. He Co-Founded Zokyo, a venture studio that builds, secures and funds crypto, DeFi and NFT companies, and also co-founded Hosho, which was ranked #1 Smart Contract security Auditor in 2019 by Forbes.
INFORMATION
https://twitter.com/thestandard_io
https://www.youtube.com/thestandard_io
https://www.linkedin.com/company/the-standard-io/
https://medium.com/@thestandard.io
https://discord.gg/thestandard-io-836907456743079956
https://t.me/+BEuk_lIBsPNlZDU1
AUTHOR
Bitcointalk Username: Amin Younes
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=3193545
Wallet Address: 0xd05a88ce3a5f5e9aa73a391491531fd60925aeff
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