WrapFi will cooperate with Bluzelle to empower the trading of IBT assets

WrapFi, a professional IBT ( Interest-Bearing Token) DEX, has reached cooperation with Bluzelle. WrapFi will integrate Bluzelle’s oracle services into Tracking Market Making (TMM) Algorithm, so that WrapFi could provide accurate on-chain price data for IBT assets (ctoken, ytoken, stafi rtoken, etc.). By the integration with Bluzelle, WrapFi can better build its TMM algorithm and provide a more friendly user experience and precise pricing system for trading IBT assets.

WrapFi is a professional DEX for trading IBT assets by proposing an innovative TMM algorithm. In the TMM algorithm, WrapFi will customize a set of Price-Recorrection Mechanism (PRM) for each IBT token to capture its exchange rate in their issuer’s smart contract in real time, ensuring the timeliness, accuracy and security of the price of IBT assets in the transaction process. Therefore, when users trade IBTs on WrapFi DEX, Bluzelle Oracle will help track the exchange rate of IBT price in the smart contract in real time and incorporate it into the PRM, then providing a more accurate exchange price on WrapF’s DEX.

Bluzelle price feeding mechanism is protected by a decentralized oracle network, which keeps market price coverage on multiple platforms, thus protecting user transactions from various unexpected situations. The cooperation between WrapFi and Bluzelle will provide a friendly and accurate price oracle for trading IBTs on WrapFi DEX, which will improve the liquidity of IBTs.

About Bluzelle

Bluzelle aims to be the go-to data layer for Web 3.0 by providing a decentralized data network that is tamper-proof and has greater privacy, scalability and availability than traditional solutions. Powered by Cosmos, Bluzelle handles 10,000 TPS and is a delegated proof of stake. Bluzelle’s DeFi solutions are being developed to enhance Defi with historical price feeds, provide data analytics, 360-degree views, and more. As DeFi grows, Bluzelle’s infrastructure services play a big role.

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About WrapFi

WrapFi is the first specialized DEX for Interest-Bearing Tokens(IBTs) powered by TMM algorithm. Price discovery of IBTs on the current AMMs or PMMs not works well, and there always exists a huge gap between the trading price on DEX and the real exchange rate. WrapFi creates an innovative Tracking Market Maker (TMM) algorithm to provide the most stable price and sufficient liquidity for IBTs.

Website: https://wrapfi.io/
Medium:https://medium.com/@wrapped-finance
Twitter:https://twitter.com/Wrapped_Finance
Telegram Chat: https://t.me/wrapped_finance
Announcements Channel: https://t.me/wrapfi_ann