DeFi protocol, recently launched StrongBlock, announced the integration of Chainlink oracles, but the price of its token is down 70% today.

The platform, which was founded by former members of the original EOS core team, launched on September 29. StrongBlock claims that low-quality, insecure blockchain nodes can be unreliable and provide volatile market data, especially if they are not out of sync. The core concept of the protocol is to shift focus from rewarding auditors to rewarding node security as a way to improve public blockchain performance.

Bitcoin Cash fiancé Roger Ver commented on the project:

The mining rewards are in the form of Ethereum and Chainlink tokens, and StrongBlock announced on September 30 that they had combined a Chainlink prize Oracle for LINK / ETH and ETH / USD to pricing their token called STRONG.

With a total width of 10 million strong, approximately 4.89 million has been earmarked for shareholders, founders and the team. A third of that distribution unlocked with the launch of the DeFi protocol, and it looks like some will be reset. After an initial jump from $ 180 to $ 275, strong prices are down more than 70% today to $ 66, according to Uniswap.info.

StrongBlock launched its Blockchain-as-a-Service platform in February 2020 and chose the Ethereum network due to the networking effects of the blockchain that hosts most of the DeFi platforms. The move, however, came as a surprise, as it was established by the original EOS core team members and Block.one executives.

StrongBlock CEO and co-founder David Moss acknowledged that Ethereum is the heart of DeFi at the moment, and that EOS does not currently have such support. The protocol looks for the current and new full Ethereum nodes to be built to start earning mining rewards. On September 24, a guide was released with recommendations for including the node in the protocol.

Source: CoinTelegraph

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