Three Protocol is all about disrupting the online shopping space as we know it. The platform creates decentralized marketplaces. It uses AI and ZKP digital IDs while creating markets like the Uber of Web3. Because of the ZKP digital IDs, there’s no need for KYC procedures on their marketplaces. Recently, Three Protocol released interesting news updates.
So, we take a closer look at these Three Protocol updates.
What Is Three Protocol?
Three Protocol offers decentralized marketplaces that don’t need KYC. That’s because it uses a ZKP digital ID. It also uses Neural Network AI. The platform allows the unbanked or debanked to shop with e-commerce outlets. The marketplaces don’t need KYC because they use ZKP Pseudo anonymity Digital IDs. It’s built on the Tectum blockchain. This is one of the fastest chains in crypto.
Currently, there’s one marketplace active on the platform. Another platform is about to launch soon.
- Jobs3 — This is like Upwork and Fiverr. So, like a freelance and full-time job marketplace. It offers payments in crypto. The Job3 platform is already live.
- 3Bay — This platform offers online auctions. It should launch in August 2024.
The native $THREE token powers the platform. This saw its recent launch in late April. It also serves as a utility token. You can use it to pay the platform transactions. So, Three Protocol promotes and enables inclusivity. This is not only in e-commerce but also in RWA transactions.
Three Protocol also uses Tri-Signature DAOs for governance. This makes the DAO the third signatory, besides the buyer and the seller. It serves as escrow for payment funds and dispute fees. The picture below shows the JOB3 job opportunities.
Source: Jobs3
Three Protocol New Partnerships
During May, Three Protocol announced quite a few new partnerships. These are crucial for new protocols. This way, they can increase their brand reach. So, let’s take a look at the most recent partnerships.
- SolarX — A Dubai based eco-friendly cryptocurrency miner. It’s powered by the sun, and that’s a first worldwide. Their mining device can run 24 hours on stored energy. It’s scheduled to launch on 21st May. SolarX also has its own L1 chain. Here it can host its ecosystem. It also educates people on mining crypto.
- Bitgert — This is a gas fee-free blockchain and CEX. The chain is fast, scalable, and offers low fees. Its native token is $BRISE.
- Cogito Finance — AI powered RWA options. Cogito offers a TFUND, or tokenized Treasury Bills It also has a GFUND. This is a basket of Green Bonds with approximately 5% yearly returns. A XFUND is coming soon. This is an AI-managed portfolio.
- Uno Re DAO — This brings security to the blockchain. Specifically, to the DeFi space. It offers audits and prevention to various scam efforts. Services it offers, include, among others, bridge cover, treasury shield, or stablecoin depeg.
- MindAI — A project that provides education and growth in AI. You can use it as your personal assistant. It covers various industries, ranging from healthcare to finance and more. Its native token is $MDAI.
The new partners will all, in one way or another, contribute to their marketplaces. This gives benefits to both the new partners and Three Protocol.
🟪 Partnership!
Three Protocol has partnered with @bitgertbrise, a rapidly expanding crypto project that boasts a gas fee-free blockchain and CEX.
🟪 Three Protocol receive long term support for phase 1 of the partnership. In the future a CEX listing will be discussed.
— Three Protocol – Jobs3 (@ThreeProtocol) May 9, 2024
Staking for the $THREE Token
The native $THREE token didn’t launch until late April. Hence, being able to allow staking now, is one month ahead of the protocol’s schedule. As a result, staking went live on the 9th of May 2024.
This allows stakers to earn rewards. It also secures and stabilizes the platform. Staking your $THREE for 1 month earns you a 20% minimum APY. Subsequently, staking for 2 months earns you 25% APY and for 3 months that’s up to 30% APY. $THREE staking is available on the UNCX Network.
🟪 $THREE Staking Launching Today!
Almost one month ahead of schedule $THREE staking will go live today at 7pm UTC!
This starts the beginning of the revenue share mechanisms that will underpin the whole community rewarding ecosystem
Stake for
– 1 Month 20% APY (minimum)
– 2… pic.twitter.com/Ev3fHqwsbN— Three Protocol – Jobs3 (@ThreeProtocol) May 9, 2024
The Three Protocol Deflationary Mechanism, 250.000 $THREE Burned
Mano CT, a crypto trader and influencer who is seemingly a fan of the team and project burned 250.000 $THREE tokens last week as a “token” of support. Currently, that’s worth $79,000. On X he has 183.2K followers.
The $THREE token is deflationary. This is a good thing since it should increase the token’s value over time. That’s a logical consequence if you make something rarer.
So, to recap, here we are with an update on the Three Protocol. There were plenty of new partnerships. Furthermore, the project saw an early staking option debut. Last, but not least, a fan of the project burned 250k $THREE tokens.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers, and their risk tolerance may be different from yours.
We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments, so please do your due diligence. This article has been sponsored by Three Protocol.
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