Stabilise — Shielding Web3 users from price volatility
The events of the last few months in the crypto space have shined a new light on the importance of price stability for stablecoins and the broader crypto market. The complete collapse of the once $60 billion Terra and UST ecosystem in just three days sent shockwaves through the industry. It also came on the heels of a price correction in BTC of around two-thirds since its Nov 2021 high and corrections of up to 90 percent in much of the altcoin space.
Many see improved price stability for major cryptocurrencies occurring as the space matures and potentially with greater regulation in the wake of the Terra crash. But recent events have clearly demonstrated that even though the total crypto market ballooned to nearly $3 Trillion in late 2021, huge volatility is common for even the largest cryptocurrencies and isn’t likely to disappear any time soon.
Protecting the value of crypto assets remains a major issue — especially for people earning incomes via Web3 projects that pay participants in smaller cap altcoins that are even more susceptible to major price swings. This is one of the major areas that the Amasa platform was created to address.
Stabilise your earnings
Amasa will stabilise Web3 income streams against constant price volatility through auto swaps to trusted and audited stablecoins like USDC. This shields users from negative price action and also makes it easier to track and understand how much you are earning each week or each month.
So instead of seeing a portfolio containing a dozen different altcoins that you’re earning via your Web3 income streams, with each altcoin fluctuating 10, 20, 30 percent or more every week, you can view a single account value displayed in USD.
It also means you can have far greater peace of mind in knowing you aren’t losing large amounts of value if you don’t check your holdings for a few weeks — or a few months. You can relax knowing your income streams are continuing to come in, are being auto swapped to a trusted stablecoin, and steadily increasing the value of your account.
Under the hood
The stabilising component of the Amasa platform means that every time your Web3 income stream earnings are brought into your Amasa account, they are auto swapped into stablecoins to provide you with a USD value. These swaps are automated actions, set according to time or value based triggers to minimise network fees. For example, once per week, or every time your balance in a project goes over $10. They can be done at low cost, by leveraging Layer 2 technologies such as those offered by Polygon.
The trigger based auto-swaps to shield from volatility are made possible by utilising Chainlink Keepers. Amasa’s close working connections with Chainlink and Polygon also mean that we can continue to innovate as new technologies and capabilities are introduced by these leaders in the DeFi space. This ensures we will always offer the most efficient, lowest cost transactions.
Stabilised automatic swaps to protect your Web3 earnings — just one of the core features of the Amasa platform.
Get on board
To learn how you can start earning Web3 income streams today and to hear about the latest project news and announcements, visit us on Twitter and Telegram (Announcements), or join our Telegram community channel. Or you can always get in touch at firstname.lastname@example.org.