“Crafting Finance” trading platform will be launched in January

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Singapore, Singapore–(Newsfile Corp. – Dec. 30, 2021) – Synthetic asset issuance and trading platform Crafting Finance, developed based on NEAR ecology and WASM virtual machine, will complete its launch on the main network at the end of January. Since NEAR Protocol focuses on creating a user-friendly platform for developers and users, Crating Finance, as the name of its first version – Columbus, is considered the pioneer to strengthen the financial application in the world. NEAR ecosystem.

The first version of Columbus launched will include comprehensive functions for issuing and trading synthetic assets, supporting general synthetic assets and stablecoin synthetic assets. This will allow users to mortgage their digital assets through the platform to generate synthetic assets for non-slip synthetic asset transactions by spending their mining revenue.

The main focus of the first version of Crafting Finance is to work with synthetic assets, which are a clever invention for processing distributed transactions of different types of assets, including stocks, debts and derivatives. They are widely used in traditional financial markets in very large volumes. Synthetic assets are also a financial instrument composed of one or more active derivatives. Since the asset classes supported by traditional synthetic asset projects are still quite limited, Crafting Finance is committed to “simulating” almost any resource found in the real world, reaching all kinds of financial assets at low cost and allowing the realization of any type of financial asset contract.

Crafting Finance Overview

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Raft and RaftStable will also launch with this release. In Crafting Finance, synthetic assets are referred to as “Rafts” and they co-exist in a shared debt pool that can provide Rafts with nearly unlimited liquidity, much like the sea. Rafts include both RaftStable, directly anchored to fiat currencies , and Raft, pegged to individual financial assets (e.g., rBTC pegged to Bitcoin, rAAPL pegged to Apple stock, rXAU pegged to gold, etc.).

Crafting Finance has also launched Kingsman, a decentralized trading platform based on the Shared Debt Pool through which users can trade various types of minted synthetic assets. In Kingsman, all synthetic assets can be converted into other synthetic assets, including rBTC, rETH, and rNear. Synthetic assets for this type of cryptocurrency can be currencies such as EUR, JPY, and CNY, and even gold and various stocks, all of which are synthetic assets produced by the system, rather than physical assets. Their conversion rate is determined by the actual external price provided by the oracle. No counterparty is required and users can convert all assets supported by the system under the principle of unlimited liquidity. The shared debt pool allows the platform to support “all types of assets”, and the shared liquidity allows the platform to transact without slippage.

In Crafting Finance’s overall design process, Columbus is one of four main builds, all named after famous explorers. The release to follow, “Zhang Qian”, will mark the launch of synthetic bond assets, known as BondRaft. The next version, named after the famous Greenland explorer Thurwaldson will be launched with the UnivRaft application to carry out the “simulation” of any financial asset or even all types of assets that exist in the real world. The fourth version will pay tribute to the navigator Vasco da Gama, pioneer of the navigation route from Europe around the Cape of Good Hope to India. This release will launch the oracle with full functionality, while marking the ability for Crafting Finance to get all real-world asset data.

About CraftingFinance

Crafting Finance is a synthetic asset project, which provides the issuance and transaction capabilities of various synthetic assets, which can support the issuance and transaction of almost all types of cryptocurrency and financial assets. real assets. Important product modules include MintR, Kingsman and various synthetic assets (Raft, RaftStable, UnivRaft, BondRaft). MintR supports a variety of collateral to generate various synthetic assets and even user-defined assets. The DEX debt pool (SDP) model used by Kingsman does not require counterparties, which solves the problem of DEX transaction depth.

Website: https://crafting.finance/

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