Welcome to Newsletter #46
We are really sorry for the delay in the release of the newsletter. We've been extremely busy the past few weeks aiming for the release of ProtonLive on the 11th of November. However, at the very last moment, we found a minor issue and decided to postpone the release to fix the problem but also add a few more goodies. The Metallicus team have been busy too, there's so much coming out at the moment. Not to mention the whole FTX saga that developed over the past few days.
One thing is certain, Metallicus is here to stay! You may wonder why so. Well, if you followed them as long as we did you'll notice that they only enable Metal Pay in states where they obtain licenses. Also, Proton Loan, which is a P2P decentralized over-collateral lending platform i.e. funds are locked in the contract and not under Metallicus custody. They play by the rules and they don't use customer funds to fund other activities. Remember the company was founded in 2016 and it is here to stay.
As always, Thank you for your support!
If you missed the live stream of Money 20/20 or you feel lost in the six hours stream, then you can find each episode on the Metallicus YouTube page:
If you hold any METAL, remember that you can deposit to Metal Wallet and stake for a good 10% APR:
We discussed Metal Dollar before but now it takes a big role with the release of Proton DEX. Here is an excerpt from the documentation:
Metal Dollar (XMD) is a decentralized stablecoin index or decentralized stable coin basket that runs on Proton Blockchain and will become available on more chains. XMD is minted from a basket of only reserve-backed stablecoins. As XMD mints from this basket, it spreads risk across multiple stablecoins, to avoid reliance on a single issuer. The basket automatically rebalances, to maintain a stable $1 peg for $XMD.
The current basket includes $USDC, $PAX, $BUSD, $TUSD
You can mint Metal Dollar $XMD for Proton DEX pairs now at https://metaldollar.com
The wait is over! Proton DEX is now LIVE! The long-awaited DEX platform was released earlier today. The timing couldn't be better with all CEX filing for bankruptcy and people losing their life savings. With the release of Proton DEX, the team moved all Protonswap features to a new one-stop-shop protondex.com.
Here's the complete article:
Also, make sure to read the announcement on the Metallicus medium page:
And here's the link to the Proton DEX documentation:
And because Proton DEX wasn't enough, the Metallicus team reduced the fiat on-ramp fees on Proton from $20 down to $2 till the end of the year.
Remember Storex? They are doing something amazing - kind of Web3 Amazon using Proton Blockchain. They posted a few articles describing the utility of the coin, the governing council and the arbitration panel. Make sure to read them as they are very interesting.
We often see users on Telegram asking if there is any news and why there's nothing new. Well, one user took this over Twitter and summarized all the new products that the Metallicus team launched this year alone:
Following the FTX events from last week, Mark Jeffrey perfectly described what the Metallicus team are doing and it fills our hearts with joy.