Automating Yield: Mangata Finance partners with OAK Network.
We are pleased to announce that we are entering a strategic partnership with OAK Network!
OAK is an upcoming automation parachain that will bring a much needed piece to Dotsama: trustless cross-chain workflow automation. This partnership opes new possibilities for DeFi like dollar cost averaging, ice berg orders, execution of strategies based on price and time and much much more!
📺 Watch our announcement video:
Forming an open ecosystem of yield opportunities
Both Mangata and OAK build on Substrate, which allows us to build superior blockchain tech within the increasingly connected Polkadot and Kusama ecosystems. We are not only closing feature gaps to other ecosystems like Ethereum, but are also quickly uncovering yet unknown opportunities for yield aggregation.
OAK recently joined Mangata Monday on the topic of “Automating Yield”, where we discussed the possibilities of automation in an interoperable XCM world. The call showed how the whole field of DeFi has just barely scratched the surface of what is possible. With time based triggers and triggers based on state changes in the connected ecosystem, a new range of dynamic and personalized strategies open up to those seeking yield.
We want to engage this opportunity and have decided to partner up and explore this space together. Together with other protocols and parachains we are forming an open ecosystem of yield opportunities.
OAK Network currently is bidding for a parachain slot on Kusama, where their network will be called Turing Network. To support the Turing crowdloan, they have set up the Turing Network Crowdloan Page where anyone interested can support their bid.
After onbaording, will start step by step with an intended XCM channel to open shortly after our parachains went through their respective launch procedures. After that we are going to explore time-based triggers and their impact on Mangata’s gasless swaps. Our teams have a good chemistry and we believe that our ongoing conversations will lead to many more revelations.
We invite you to be part of the journey and join our conversations in the open. We created Twitter lists of both teams so that you can get in contact:
Also worth reading: OAK’s partnership announcement with Mangata
This is an exciting time for #Dotsama and it is great to have OAK Network as a strategic partner.
About OAK Network
OAK (On-chain Autonomous Kernel) Network is a blockchain automation hub for DeFi and payments built on Parity Substrate with a first of its kind event-driven execution model. This model enables transactions to be triggered by event signals such as time, price, and smart contract state changes. Importantly, this differs from traditional architectures utilized by Ethereum, Bitcoin, and other popular chains where multiple transactions require repeated private key signing. With this novel design, OAK can empower any connected blockchain with autonomous functionality unleashing endless potential for our partners.
Mangata is a next-generation DEX with the mission to make tokens from all ecosystems tradable on a single DEX. It features gasless swaps, prevents front-running and miner-extractable value on the consensus level without additional fees and secures the network with the revolutionary proof-of-liquidity consensus.
Mangata is building on Substrate, which enables it to customize the rules of the chain to optimize the whole ecosystem around capital efficiency and fairness.
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