🔎Quota Tech Stack

Solidity

Solidity is an object-oriented, high-level language for implementing smart contracts. Smart contracts are programs which govern the behavior of accounts within the Ethereum state. Solidity is a curly-bracket language designed to target the Ethereum Virtual Machine (EVM). It is influenced by C++, Python and JavaScript. You can find more details about which languages Solidity has been inspired by in the language influences section. Solidity is statically typed, supports inheritance, libraries and complex user-defined types among other features.

Javascript

JavaScript (JS) is a lightweight, interpreted, or just-in-time compiled programming language with first-class functions. While it is most well-known as the scripting language for Web pages, many non-browser environments also use it, such as Node.js, Apache CouchDB and Adobe Acrobat. JavaScript is a prototype-based, multi-paradigm, single-threaded, dynamic language, supporting object-oriented, imperative, and declarative (e.g. functional programming) styles.

Chainlink

Chainlink is a decentralized oracle network that seeks to eliminate the central point of failure present in prior oracle solutions. Secure oracle networks are integral to the long-term functioning of decentralized marketplaces, a market segment that will facilitate trillions of value if it matches centralized systems. In many cases, these decentralized marketplaces require data that isn’t native to the public blockchain where the marketplace exists. For example, this is evident in decentralized exchanges on Ethereum which facilitate the trading of derivative products. If the data fed into these products is corrupted, the markets for the investment products could also be corrupted. Applications including decentralized exchanges highlight why a centralized data feed could represent a central point of failure. If for some reason an oracle service is interrupted, by mistake or my malice, the applications that rely on that oracle would fail.

Elastic Supply

• Ampleforth While Ampleforth (AMPL) is similar to algorithmic stablecoin protocols operating on the Ethereum blockchain, it is not pegged to the U.S. dollar. Rather than using crypto, fiat, or commodities as collateral, the Ampleforth protocol adjusts its AMPL crypto supply every 24 hours in a process called “rebasing” to maintain a stable price. To understand how algorithmic protocols like Ampleforth function, a review of traditional monetary policy is a good place to start.

Referral System

• Gym Network GYM network is a highly innovative DeFi platform that is the first to introduce affiliate marketing to decentralized finance, allowing users to earn commissions by referring others, while profiting from the platform themselves. Its initial application, GYMNET Vault, connects to other established DeFi platforms, such as Alpaca Finance, and puts a layer on it that allows the user to not only earn the interest rate offered by these other platforms but also the GYMNET rewards. Next to that they now have the opportunity to invite other users via their affiliate link provided by GYM NETWORK and earn commissions as a profit share from the interest rates and rewards of their referred partners. The deposit amount remains untouched and is fully available to be withdrawn anytime.

• Refereum Anyone with any level of influence, including regular gamers, can earn money by simply sharing their link with friends or followers. Their successful referrals earn Refereum tokens that can be traded for cash or used to buy new content. This eliminates various types of fraud, from identity theft to traditional misleading black-box referral reporting, with a transparent record of purchases and referrals written into the blockchain. Influencers no longer have to wait to be approached by ad agencies, and instead get to choose relevant and monetizable content for their fanbases. Influencers who meet a certain number of followers receive free games, happily provided by developers who no longer need to worry about the risk of sending game keys to fake influencers. Refereum allows anyone to earn money or purchase games without the need for access to a bank account.

Uniswap

Uniswap is an automated liquidity protocol powered by a constant product formula and implemented in a system of non-upgradeable smart contracts on the Ethereum blockchain. It obviates the need for trusted intermediaries, prioritizing decentralization, censorship resistance, and security. Uniswap is open-source software licensed under the GPL(General Public License). Pairs act as automated market makers, standing ready to accept one token for the other as long as the “constant product” formula is preserved. This formula, most simply expressed as x * y = k, states that trades must not change the product (k) of a pair’s reserve balances (x and y). Because k remains unchanged from the reference frame of a trade, it is often referred to as the invariant. This formula has the desirable property that larger trades (relative to reserves) execute at exponentially worse rates than smaller ones.

Olympus DAO

• Governance OHM’s (Olympus DAO’s Official Ticker) Governance is done via Scattershot, a fork of Snapshot made by Float Protocol which supports voting for more than one choice. Proposals are usually open for 2 days and during this time, holders of the OHM token can vote on which option they want, with more OHM representing more voting power. This process is completely gas-less and requires no transaction (users only need to sign off on their vote using their wallet), which encourages more participation by all holders. After a decision has been made, if an upgrade/change is required to the protocol, the Genesis DAO prepares the necessary contracts and transactions in order to execute the decision. They then have an internal vote, but this vote should always be in line with whatever was reached by the community in the Scattershot proposal. The team hopes that they will never have to overrule a decision made by the community and will only do so if the proposed change is clearly malicious.

• LP buyback program Olympus is an algorithmic currency protocol based on the OHM token. It introduces unique economic and game-theoretic dynamics into the market through asset-backing and protocol-owned value. Each OHM is backed by 1 DAI in the Olympus treasury and the protocol is designed to buy back and burn OHM when it trades below 1 DAI. The intended effect is to push OHM price back up to 1 DAI. Its goal is to build a policy-controlled currency system, in which the behavior of the OHM token is controlled at a high level by the Olympus DAO. In the long term, Olympus believes this system can be used to optimize for stability and consistency so that OHM can function as a global unit-of-account and medium-of-exchange currency.