Dynamic Vault Protocol Mercurial Finance Announces Development on Solana

Mercurial Finance has announced that it is about to launch its Mercurial protocol. This protocol will be the first Solana-powered dynamic vaults for stable assets in the Defi ecosystem.

By
Ifeanyi Egede
on
May 5, 2021
Category:
Breaking News

Mercurial Finance Set for Protocol Launch on Solana

Mercurial Finance announced they will be launching their Solana-powered protocol in the near future. By next week, its beta will be released on the Solana testnet. The goal of the protocol is to be the easiest place for deposits, swaps, and minting of stable assets on the Solana blockchain. At launch, the vault will start with USDC, USDT, WUSDC, and WDAI to ensure low slippage swaps and dynamic fees. 

Mercurial: A Stable Project

Stablecoins are becoming increasingly important as the Solana Decentralized Finance (DeFi) ecosystem continues to evolve at a very rapid pace. The Mercurial protocol is mainly supported by Okex, HuobiGlobal, Solana ecosystem, and Alameda research. Mercurial will also collaborate with the Kyber network to ensure interoperability between the Ethereum ecosystem and Solana ecosystem. Mercurial Finance will be launching its initial exchange offering (IEO) on the FTX platform on May 13th.


About Mercurial Finance

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Mercurial Finance offers dynamic vaults for stable assets on the Solana blockchain. It aims to ensure the maximization of capital utilization and low slippage swaps. It allows the creation of synthetics such as mUSD and mBTC to enhance the number of pegged assets in the Solana network. When these assets are included in the Mercurial Finance vaults, they make the liquidity for other stables better and enhance interoperability with other decentralized protocols. Mercurial is powered by Solana because the Solana ecosystem has strong growth potential and impressive product possibilities.


About Solana

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Solana is a fast, secure, decentralized blockchain built to enhance the scalability of crypto apps. It is currently accepting registrants for its next Hackathon which will commence by May 15. More than 3,000 builders are now registered for the event. Those who wish to learn more about the hackathon event can do so by following the hashtag #Solanaszn on Twitter. 


Mercurial Finance Roadmap

According to Mercurial Finance’s latest Medium post, the following updates will soon be initiated as the project is developed:

  • Extended technical features, including on-chain algorithms (to monitor asset flow) and dynamic fees (to enhance performance).
  • Development of a unique pricing curve for generalizability of all token type sets
  • More features based on the development of Solana technology


Closing Thoughts

There is no denying that the Mercurial protocol will be a massive hit. This is affirmed by the team's willingness to collaborate with the Mercurial community to improve awareness, engagement and add more important features as the Solana blockchain gets upgraded with the technical pieces that will make the impending features possible. The project is intended to meet the needs of DeFi users who require efficient dynamic vaults for their stable assets. Prompt and accurate updates are provided on their Twitter account and Telegram channel.

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Ifeanyi Egede

Ifeanyi Egede is an experienced and versatile crypto writer and researcher on fintech, the blockchain and emerging technologies. He has several published works online and in the print media. He loves reading, research, traveling, meeting people and football. When he is not writing, he spends time with his lovely wife and kids.