🚀 NEW EPISODE 🚀 Onchain FX Markets - Decentralising World Currencies @tw_tter chats with @MarkusMento about FX markets and how @MentoLabs aims to reshape global finance by tokenising world currencies and bringing FX onchain. TradFi FX markets are slow, expensive and often lack liquidity for direct swaps between different world currencies, having to route through USD pairs. While crypto could technically solve pairing through AMM pools, those needed to be arbitraged in order to reflect TradFi rates. With 15 fully-backed stablecoins, @MentoLabs, which spun out of @Celo's @cLabs, is building the largest FX infrastructure, bringing world currencies onchain through its robust multi-currency stablecoin platform. In order to provide traders with accurate real-word FX rates, Mento employs FPMM (fixed-price market makers) which gather offchain data from multiple oracles. Instant settlement, cross-border, at a fraction of a cost of conventional remittance providers, while also avoiding...
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