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About SOLACE

SOLACE is a blockchain-based platform that aims to eliminate the challenges toward DeFi and other crypto applications. The platform also launched a coverage policy protocol aiming to extend protection to liquidity providers, decentralized organizations (DAO), or DeFi protocols. The primary purpose behind this is to reduce bugs, hacks, and loss, and to transform DeFi through empowering tools for a secure, safe, and trusted industry.

The whitepaper of SOLACE states that there are no efficient coverage options currently, and the risk of DeFi is also significant. Therefore, SOLACE aims to provide fast and efficient coverage protection and utilize intelligent risk management to minimize loss and risk. To achieve this objective, the platform seeks to focus on three aspects, which are auto claims processing, intelligent risk assessment, and high capital efficiency.

Through auto claims processing, SOLACE aims to allow users to file claims and get paid in a single transaction. Further, SOLACE aims to offer intelligent risk assessment that is based on qualitative and quantitative measures instead of market bias or human voting. Another aspect of the SOLACE protocol is high capital efficiency, whereby the platform seeks to provide the users with cost-effective coverage.

SOLACE aims to utilize bonding for the users who intend to provide capital in the underwriting pool or SushiSwap liquidity pool. The SushiSwap liquidity pools enable liquidity providers to add their tokens to liquidity pools. Such a measure seeks to allow for SOLACE to gain long-term sustainability of the protocol.

According to the whitepaper, SOLACE allows users to purchase coverage through investment in DeFi. Besides, the platform also allows users to stake the token SOLACE, the native coin of the SOLACE platform. SOLACE is an ERC-20-based governance token driven by the market. The staking of the token can be done through bonding or in the open market. Users can stake SOLACE tokens to earn yield from protocol revenue and gain governing rights.

Nikita Buzov is the cofounder of SOLACE. She has expertise in blockchain technology, Bitcoin, and Ethereum.

Market

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Canada News about SOLACE

CoinDesk • May 06, 24

First Mover Americas: Bitcoin Nears $65,000 Amid Strong Crypto Rebound

The latest price moves in bitcoin (BTC) and crypto markets in context for May 6, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.

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Decrypt • May 06, 24

Bitcoin Sees Modest Gains as Network Processes Its 1 Billionth Transaction

The world's oldest and largest cryptocurrency just celebrated a birthday of sorts: Its network has processed more than 1 billion transactions.

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BeInCrypto • May 06, 24

One Bitcoin Whale Moved $44 Million While Another Sold $14 Million

Two Bitcoin whales moved significantly in recent transactions, stirring the cryptocurrency market and hinting at possible strategic shifts and market volatility.The post One Bitcoin Whale Moved $44 Million While Another Sold $14 Million appeared first on BeInCrypto.

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The Defiant • May 06, 24

Bitcoin Network Surpasses One Billion On-Chain Transactions

The Runes protocol drove a recent uptick in Bitcoin's on-chain transaction volume.

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The Block • May 06, 24

What is EigenLayer and how does restaking work?

EigenLayer is a protocol that aims to leverage ether staked with Ethereum validators through a process called restaking.

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Bitcoin Magazine • May 06, 24

Bitcoin Network Tops 1 Billion In Total Transactions Processed

The Bitcoin network hits a major milestone, processing its 1 billionth transaction just 15 years after launch, proving Bitcoin's resilience and capacity to efficiently facilitate transactions at scale.

Read more

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SOLACE is on the rise this week.

The price of SOLACE has increased by 100.00% in the last hour and increased by 100.00% in the past 24 hours. SOLACE’s price has also risen by 100.00% in the past week.

FAQ

What is the current price of SOLACE?

We update our SOLACE to CAD currency in real-time. Get the live price of SOLACE on Coinbase.

What other assets are similar to SOLACE?

Assets that have a similar market cap to SOLACE include Ethereum, Tether, BNB, and many others. To see a full list, see our comparable market cap assets.

Can I buy SOLACE on Coinbase?

Yes, SOLACE is currently available on Coinbase wallet. For more detailed instructions, check out our helpful how to buy SOLACE guide.