Do Kwon and Daniel Shin founded[ Terra (LUNA)](https://coinmarketcap.com/currencies/terra-luna/) in April 2019. In September 2020, they launched TerraUSD on Bittrex Global. Since that date, TerraUSD has outstripped many stablecoin competitors in the market, such as[ GUSD](https://coinmarketcap.com/currencies/gemini-dollar/) (Gemini) and[ PAX](https://coinmarketcap.com/currencies/paxos-standard/) (Paxos). Terra is TerraUSD's own blockchain, the creation of Terraform Labs (a subsidiary of Terra Alliance). Do Kwon is the CEO of Terraform Labs. He is a former software engineer at Microsoft and Apple. He also served as CEO of Anyfi, a startup providing decentralized solutions for wireless mesh networks. Kwon is included in the Forbes[ 30 Under 30](https://www.forbes.com/under30/list/2019/asia/finance-vc/#14e4d974baab) list of the world's most successful entrepreneurs. Co-founder Daniel Shin is a talented economist and entrepreneur. Before Terra Alliance, he co-founded Fast Track Asia, a startup incubator, and managed to co-found and lead TMON (Ticket Monster), a South Korean e-commerce platform.

TerraUSD ([UST](https://coinmarketcap.com/currencies/terrausd/)) is the decentralized and algorithmic[ stablecoin](https://coinmarketcap.com/alexandria/glossary/stablecoin) of the Terra blockchain. It is a scalable, yield-bearing coin that is value-pegged to the US Dollar. TerraUSD was created to deliver value to the Terra community and offer a scalable solution for[ DeFi](https://coinmarketcap.com/alexandria/article/what-is-decentralized-finance) amid severe scalability problems faced by other stablecoin leaders like[ Dai](https://coinmarketcap.com/currencies/multi-collateral-dai/). Thus, TerraUSD promises users a higher level of scalability, interest rate accuracy, and interchain usage. TerraUSD provides several benefits that have made it a stand-out stablecoin competitor. Due to its minting mechanism, UST meets the requirements of DeFi protocols that it uses without losing scalability. UST can also be easily added to crypto wallets by simply integrating TerraUSD as a payment method. Another area where TerraUSD has shown its power is[ DApps](https://coinmarketcap.com/alexandria/glossary/decentralized-applications-dapps). For example, platforms that mint fungible synthetic assets and track real-life asset prices use UST as a pricing benchmark. TerraUSD (UST) was launched in September 2020 (in collaboration with Bittrex Global) and has since gained the reputation as the most scalable stablecoin. UST can be used in conjunction with[ LUNA](https://coinmarketcap.com/currencies/terra-luna/), Terra's non-stablecoin crypto, or as a standalone token.

Where AI meets affections Sleepless AI emerges as a groundbreaking Web3+AI gaming platform, ingeniously blending artificial intelligence and blockchain technology. At its core, Sleepless AI aims to revolutionize the gaming industry with its unique approach and the extensive expertise of its team. Our mission is to offer unparalleled emotional support and immersive gaming experiences through AI companion games. The project seeks to redefine the gaming landscape by seamlessly integrating advanced AI and blockchain technologies.

The face of Base & Brian Armstrong's beloved cat.

Prom is a gaming NFT marketplace & rental. Completely decentralized, confidential, and safe, it meets the needs of players, metaverse-enthusiasts, NFT owners, guilds, and games. In a word, our project boldly aims to establish a sound future for the whole industry. To stay secure and efficient, we explore the potential of NFT gaming, work with experts, and experiment with promising tools. As a result, we already have designed a unique ecosystem that is fit for lending, renting, and spotlessly exchanging ideas. To get convinced, check some of our features. - Rent gaming assets without any collateral or lend out your assets to other players to make an additional profit. - Purchase any NFT in monthly installments, get a mortgage or leasing for lands and spaces in the metaverses. - Trade and exchange NFT assets from various games in a unified interface and access internal gaming marketplaces across multiple games. - Easily manage NFT assets across all the platforms and view statistics.

CyberConnect is web3’s earliest and biggest social network that enables developers to create social applications utilizing ERC-4337/Account Abstraction, empowering users to own their digital identity, content, connections, and interactions.

As of November 2020, Venus is available to trade on a single exchange platform: Binance. It is listed against Tether (USDT), [Bitcoin (BTC)](https://coinmarketcap.com/currencies/bitcoin/), Binance Coin (BNB) and Binance USD (BUSD). There are currently no direct fiat on-ramps to purchase Venus. To buy Bitcoin and other cryptocurrencies with your credit or debit card, check out our simple [guide](https://coinmarketcap.com/how-to-buy-bitcoin/).

The Venus network is secured by the Binance Smart Chain, a blockchain that runs in parallel to the Binance Chain. BSC is compatible with the [Ethereum](https://coinmarketcap.com/currencies/ethereum/) Virtual Machine (EVM) and is capable of running even if the Binance Chain goes offline or encounters issues. Binance Smart Chain utilizes a unique [consensus algorithm](https://coinmarketcap.com/alexandria/glossary/consensus) known as proof-of-staked authority (POSA) to secure the [blockchain](https://coinmarketcap.com/alexandria/glossary/blockchain). This is essentially a hybrid consensus mechanism that combines aspects of both [proof-of-stake](https://coinmarketcap.com/alexandria/article/proof-of-work-vs-proof-of-stake) (POS) and proof-of-authority (POA). It is built around a network of 21 validators who are responsible for executing tasks on the Binance Smart Chain, and reaching consensus about recently processed transactions. Beyond this, Venus suppliers are protected by automatic liquidation measures, which will automatically liquidate the collateral of borrowers if it falls below 75% of their borrowed amount—thereby reimbursing suppliers early to maintain the minimum collateralization ratio.

Venus has a maximum total supply of 30 million XVS tokens, and just over 4.2 million XVS tokens were in circulation as of November 2020. Venus was one of the first platforms to conduct a Launchpool on Binance, which allowed users to farm XVS by staking different assets including Binance Coin (BNB), Binance USD (BUSD) and Swipe (SXP) tokens. A total of 20% of the total supply (6 million XVS) was allocated to the Binance Launchpool, and the token was listed shortly after on the Binance spot exchange platform. The project had no pre-sale or private sale, and the team has no token allocation, but 1% of the total supply (300,000 XVS) is reserved for Binance Smart Chain ecosystem grants. The remaining 23.7 million XVS tokens will be gradually unlocked over a period of four years as they are mined by those that use the Venus protocol. According to the project [white paper](https://venus.io/Whitepaper.pdf), 35% of daily XVS rewards are distributed to borrowers, 35% to suppliers, and the remaining 30% to VAI stablecoin minters.

Venus’ main strength is its high speed and extremely low transaction costs, which are a direct result of being built on top of the Binance Smart Chain. The protocol is the first to enable users to access lending markets for [Bitcoin (BTC)](https://coinmarketcap.com/currencies/bitcoin/), [XRP](https://coinmarketcap.com/currencies/xrp/) Litecoin ([LTC](https://coinmarketcap.com/currencies/litecoin/)) and other cryptocurrencies to source [liquidity](https://coinmarketcap.com/alexandria/glossary/liquidity) in real-time, thanks to its near-instant transactions. Customers sourcing liquidity using the Venus Protocol do not have to pass a credit check and can quickly take out a loan by interacting with the Venus decentralized application ([DApp](https://coinmarketcap.com/alexandria/glossary/decentralized-applications-dapps)). Since there are no centralized authorities in place, users are not restricted by their geographic region, credit score or anything else, and can always source liquidity by posting sufficient collateral. These loans are provided from a pool contributed by Venus users, who receive a variable APY for their contribution. These loans are secured by the over-collateralized deposits made by borrowers on the platform. To avoid market manipulation [attacks](https://coinmarketcap.com/alexandria/glossary/51-attack), the Venus Protocol utilizes price feed [oracles](https://coinmarketcap.com/alexandria/article/oracles-in-defi-101-a-deep-dive-by-tellor), including those from [Chainlink](https://coinmarketcap.com/currencies/chainlink/) to provide accurate pricing data that cannot be tampered with. Thanks to the Binance Smart Chain, the protocol can access the price feeds at a lower cost and with better efficiency, reducing the overall cost footprint of the system.

The development of the Venus project is being undertaken by the Swipe project team. The main goal of Venus is to achieve decentralization through community-governance. There are no pre-mines for the team, developers or founders, giving XVS holders total control over the path the Venus Protocol takes.

Venus is an algorithmic money market and synthetic stablecoin protocol launched exclusively on Binance Smart Chain (BSC). The protocol introduces a simple-to-use crypto asset lending and borrowing solution to the decentralized finance ([DeFi](https://coinmarketcap.com/alexandria/article/what-is-decentralized-finance)) ecosystem, enabling users to directly borrow against collateral at high speed while losing less to transaction fees. In addition, Venus allows users to mint VAI [stablecoins](https://coinmarketcap.com/alexandria/article/what-is-a-stablecoin) on-demand within seconds by posting at least 200% collateral to the Venus smart contract. VAI tokens are synthetic BEP-20 token assets that are pegged to the value of one U.S. dollar (USD), whereas XVS tokens are also BEP-20-based, but are instead used for governance of the Venus protocol, and can be used to vote on adjustments—including adding new collateral types, changing parameters and organizing product improvements. The governance of the protocol is entirely controlled by XVS community members, since the Venus founders, team members and other advisors do have any XVS token allocations.

Big Time is a multiplayer action RPG for PC that melds a fast-combat system with an open game economy where players have an active role in generating and exchanging game items. Their approach is to make Web3 elements invisible to players, so they don't represent an obstacle to entertainment and cater to a broader audience.

When SLP initially launched, it didn’t actually have a fluctuating value as a cryptocurrency. However, this all changed when a liquidity pool for SLP was created on Uniswap. As we mentioned, the Binance Innovation Zone has unveiled support for the Pokémon-inspired game. The top exchanges where you can buy, sell, and trade SLP currently are: [Binance](https://coinmarketcap.com/exchanges/binance/), [KuCoin](https://coinmarketcap.com/exchanges/kucoin/), [Gate.io](https://coinmarketcap.com/exchanges/gate-io/), [Gemini](https://coinmarketcap.com/exchanges/gemini/), [OKEx](https://coinmarketcap.com/exchanges/okex/), [Uniswap (V3)](https://coinmarketcap.com/exchanges/uniswap-v3/), [SushiSwap](https://coinmarketcap.com/exchanges/sushiswap/) and many more. Numerous trading pairs are offered, including SLP/ETH, SLP/USDT and SLP/BUSD. However there is substantial interest in the Philippines for the [SLP to PHP](https://coinmarketcap.com/currencies/smooth-love-potion/slp/php/) price and also in Australia for the [SLP to AUD](https://coinmarketcap.com/currencies/smooth-love-potion/slp/aud/) and Europe for the [SLP to EUR prices](https://coinmarketcap.com/currencies/smooth-love-potion/slp/eur/). All of this means that you may have a little difficulty purchasing SLP directly with fiat. As a result, you may need to convert your dollars, pounds or euros into a mainstream cryptocurrency such as Ethereum first. If you are new, you can find our simplified guide for purchasing crypto, project deep dives and more educational content on [CoinMarketCap Alexandria](https://coinmarketcap.com/alexandria/).

Smooth Love Potion doesn’t have its own blockchain as it is an [ERC-20](https://coinmarketcap.com/alexandria/glossary/erc-20) token — instead, it runs on the Ethereum blockchain.

When it comes to tokenomics, the number of SLP in circulation is rather fluid. That’s because of how these tokens are burned whenever new Axies are bred. Nonetheless, at the time of writing the circulating supply of SLP was in the tens of millions — and this ERC-20 token does not have a hard cap. If the number of Axie Infinity players increase substantially, this could result in much higher levels of SLP entering into the ecosystem as more competitions are won and lost. Smooth Love Potion price rallied to an [all-time-high](https://coinmarketcap.com/alexandria/glossary/all-time-high) (ATH) of $0.3642 on May 1, 2021, then dumped by almost 75% of its value. Prices proceeded to peak again in mid-July to reach a high of $0.3462. Smooth Love Potion price has since followed a downward trend.

It’s fairly unusual for in-game currency to be listed on exchanges like SLP has. In a way, it’s like Nintendo deciding to tie monetary value to the coins used in Super Mario. Nguyen says Axies are different from other non-fungible tokens because of how they need to be nurtured if they are going to have any chance of reaching adulthood. SLP is also unique because of how it has become one of the few in-game tokens to be listed by Binance in its Innovation Zone. The exchange has reserved this trading category for assets “that are likely to have higher volatility and pose a higher risk than other tokens.”

A better question is this: who founded Axie Infinity? The CEO of the company behind the game is Trung Nguyen, who actually left his role as a software developer in the U.S. in order to focus on the project. According to Nguyen, he was motivated to explore blockchain’s potential in gaming because he was frustrated at how many players don’t truly own valuable assets in popular titles. [In an interview with Blockchain Gamer,](https://blockchaingamer.net/exclusive-interview-with-the-axie-infinity-team/) he said the Ethereum platform had given him the ultimate opportunity to create his “dream game.” Nguyen says that the breeding process, for which SLP is used, is designed to be familiar to those who have played other collectible games such as CryptoKitties.

Smooth Love Potion (SLP) tokens are earned by playing the Axie Infinity game. This digital asset serves a replacement for experience points. SLP are ERC-20 tokens, and they can be used to breed new digital pets that are known as Axies. The cost of breeding begins at 100 SLP but increases gradually — rising to 200 SLP for the second breed, 300 for the third, 500 for the fourth, 800 for the fifth and 1,300 for the sixth. Axies can be bred a maximum of seven times, and the seventh breed costs 2,100 SLP. This limit exists in order to prevent hyperinflation in the marketplace. It can take time to accrue SLP through the game, and a player may need to win 15 competitions in order to gain enough tokens to perform their first breed. Purchasing SLP on the open market is a way for gamers to get a headstart.

WILD powers Wilder World. WILD is the utility token used to: a) Identify, b) Trade, c) Generate Resources and d) Govern Wilder World. IDENTITY Every human, NPC, asset, object and DAO inside the Wilder World Metaverse requires a unique, scarce and cryptographically secure Wilder ID, which lives on the Ethereum blockchain and Zero Protocol. Examples include: citizens, vehicles, buildings, kicks, crafts, clothing, land as well as organizations (DAOs), such as stores, dealerships, concert halls, neighborhoods and condominium associations. When a new asset is minted inside Wilder World it is secured and referenced with a unique Wilder ID (such as 0://wilder.crafts.genesis.501). A Wilder ID directly references a person, asset, or DAO and is 100% unique—meaning that no one can ever replicate, copy, or spoof it without owning it. Staking WILD is required to mint a Wilder ID. As citizens immigrate to Wilder World, new goods, manufacturing, services and DAOs are created, in turn requiring more Wilder IDs and removing WILD from circulation. TRADE Similar to a real world nation, manufacturing (minting), buying and selling assets inside Wilder World requires WILD. All global trade is denominated in WILD, along with a transaction fee of 2% that is charged in WILD and automatically transferred to the Wilder Nation DAO. RESOURCES Creating (minting) new objects inside the Wilder World Metaverse requires energy in the form of raw materials. Citizens can harness raw materials from the earth and process them at refineries, which can later be converted into useful goods and services that expand the Wilder Nation’s GDP and use of WILD. GOVERNANCE Wilder World is 100% owned and governed by Citizens of the Wilder Nation. An open and decentralized metaverse that is for the people and by the people. Wilders vote in governance proposals related to the all global topics, propositions and critical decisions. Voting requires that each Citizen hold a valid Wilder ID (such as 0://wilder.frank), as well as at least 1 WILD token. Wilder World was created by Zero Tech and is built on the Zero Protocol, Ethereum and Unreal Engine 5.

As of March 2023, Synapse (SYN) is listed on well-known crypto exchanges like [Binance](https://coinmarketcap.com/exchanges/binance/), [Coinbase Exchange](https://coinmarketcap.com/exchanges/coinbase-exchange/), [Kraken](https://coinmarketcap.com/exchanges/kraken/), [KuCoin](https://coinmarketcap.com/exchanges/kucoin/), [SushiSwap](https://coinmarketcap.com/exchanges/sushiswap/), [PancakeSwap](https://coinmarketcap.com/exchanges/pancakeswap-v2/), [Gate.io](https://coinmarketcap.com/exchanges/gate-io/), [Huobi](https://coinmarketcap.com/exchanges/huobi/), [Uniswap](https://coinmarketcap.com/exchanges/uniswap-v3-arbitrum/), [Bitget](https://coinmarketcap.com/exchanges/bitget/), [BKEX](https://coinmarketcap.com/exchanges/bkex/), [LBank](https://coinmarketcap.com/exchanges/lbank/), [MEXC](https://coinmarketcap.com/exchanges/mxc/), [Phemex](https://coinmarketcap.com/exchanges/phemex/), [CoinEx](https://coinmarketcap.com/exchanges/coinex/), [BitMart](https://coinmarketcap.com/exchanges/bitmart/), [Bitrue](https://coinmarketcap.com/exchanges/bitrue/), [BTCEX](https://coinmarketcap.com/exchanges/btcex-exchange/), [XT.COM](https://coinmarketcap.com/exchanges/xt/) and more. Want to keep track of Synapse (SYN) price live? Download the CMC [mobile app](https://coinmarketcap.com/mobile/). Get the latest crypto news and education with the [CMC Alexandria](https://coinmarketcap.com/alexandria). Take a closer look at [web 2.0 vs web 3.0](https://coinmarketcap.com/alexandria/article/web2-vs-web3).

Synapse (SYN) is the platform’s native token, which powers the entire ecosystem. The token has a maximum supply of 250,000,000 coins, with a total supply of 192,696,599 coins. As of March 2023, there are 139,773,376 SYN in circulation. The platform’s tokenomics focus on rewarding SYN users who participate within the ecosystem. The two cross-chain tokens that users can exchange between networks are nUSD and nETH. SYN tokens serve a number of different functions, including:

Synapse Chain is built as an Optimistic Rollup, this offers the following benefits:

Synapse, which is based in Singapore, doesn’t list its founders, co-founders, or team members. However, the core team is active on Twitter, and their account names are AureliusBTC, Socrates0x, Caesar0x, and Trajan. In March 2022, Max Bronstein joined the protocol as COO. Bronstein was part of the crypto startup Dharma, where he was involved in building the first [DeFi](https://coinmarketcap.com/alexandria/glossary/defi) lending markets. He was also one of Coinbase’s earliest investors, and helped develop the platform itself. Synapse is the rebranding of Nerve Finance, the first stableswap [AMM](https://coinmarketcap.com/alexandria/glossary/automated-market-maker-amm) on the BNB Smart Chain ([BSC](https://coinmarketcap.com/alexandria/article/what-is-binance-smart-chain)). In August 2021, the project rebranded to Synapse Protocol and modified its business model, but it kept its key investors, including Three Arrows Capital, CMS Holdings, Alameda Research, Immutable Capital, Primitive Ventures, DeFiance Capital and Mechanism Capital. Synapse’s community governs its protocol through a decentralized group of SYN holders - called the Synapse [DAO](https://coinmarketcap.com/alexandria/glossary/decentralized-autonomous-organizations-dao). Community members steer the protocol’s development by voting and taking part in governance activities.

Synapse (SYN) is an interoperability protocol designed for safely and securely sending arbitrary data between blockchains. Its users can transfer and swap their assets across many different chains, including [layer 1](https://coinmarketcap.com/alexandria/glossary/layer-1-blockchain), [layer 2](https://coinmarketcap.com/alexandria/glossary/layer-2) and [sidechain](https://coinmarketcap.com/alexandria/glossary/side-chain) ecosystems. The project aims to improve inter-blockchain compatibility by helping its users move their assets between different networks more efficiently. In order to securely transfer its users' assets to and from different ecosystems, while maintaining slippage, liquidity pool balances, and transaction prices, Synapse uses a stableswap algorithm. The Synapse ecosystem is made up of six parts: the Synapse Bridge technology, the cross-chain AMM, aggregative cross-chain communication, the SYN token, the Synapse Chain, and optimistic security approaches. With Synapse’s generalized messaging system, any arbitrary data can be sent across chains in a secure and seamless way. Applications no longer have to be separately deployed across multiple blockchains; they can be deployed on a single chain and communicate with other chains to create the exact same user experience from one central application layer. Generic message passing also includes smart contract calls, enabling smart contracts on different chains to easily interoperate with one another. Synapse Bridge allows users to seamlessly swap on-chain assets across 15+ EVM and non-EVM blockchains in a safe and secure manner. The bridge supports two types of bridging: Canonical Token Bridging — bridging of wrapped assets across chains; Liquidity-based Bridging — bridging of native assets across cross-chain stableswap pools. Synapse Chain is an Ethereum-based optimistic rollup designed to serve as a sovereign execution environment for cross-chain use cases. Synapse Chain will offer developers a generalized smart contract interface for building natively cross-chain use cases by leveraging Synapse’s cross-chain messaging system. Applications built on Synapse Chain will be able to execute their business logic across any blockchain. Synapse supports multiple EVM-compatible blockchains and is integrated with nearly 18 layer-1 and layer-2 chains, including [Ethereum](https://coinmarketcap.com/currencies/ethereum/), [Optimism](https://coinmarketcap.com/currencies/optimism-ethereum/), [Arbitrum](https://coinmarketcap.com/coins/), [Harmony](https://coinmarketcap.com/currencies/harmony/), [Avalanche](https://coinmarketcap.com/currencies/avalanche/), [Polygon](https://coinmarketcap.com/currencies/polygon/), [Moonbeam](https://coinmarketcap.com/currencies/moonbeam/), [Fantom](https://coinmarketcap.com/currencies/fantom/) and [BNB Chain](https://coinmarketcap.com/alexandria/article/what-is-binance-smart-chain).

What is Dusk? Founded in 2018, Dusk is a Layer-1 blockchain designed to provide institutional-level and privacy and compliance in order to make it possible for anybody to trade real-world assets from their wallet. Built for regulated and decentralized finance, Dusk aims to evolve the financial landscape by making it possible for regulated assets to be brought on-chain. Dusk’s three core pillars are; privacy and compliance in order to bring institutional-level assets to anyone’s wallet. Using cryptographically secure Zero-Knowledge Proofs (ZKPs) to maintain privacy, the research team at Dusk have been leading the way in the developments of ZKPs, having had papers published on their work. A custom-built ZKP virtual machine, Piecrust, is the first of its kind and breaking new ground in the spaces of blockchain and privacy. Featuring a suite of products, including Citadel, a ZKP licensing product which is well-suited to KYC/AML procedures as well as subscription-based models, Dusk is building the infrastructure for the economy of the future. Benefits for businesses and institutions include automated and programmable compliance, instant settlement finality, and access to unified liquidity. Through the use of private smart contracts, Dusk is even able to provide levels of privacy above what banks and institutions are used to. For users, Dusk offers the possibility to break out of the crypto sandbox, and make it possible to trade real-world, regulated assets with the same level of ease and autonomy as they can trade digital assets. The Dusk network is Proof-of-Stake (PoS) and powered and secured by the DUSK token. The blockchain is public and open for anyone to use and participate in the consensus mechanism. Validators can run nodes by staking DUSK to secure the network, and transactions are paid using DUSK. Through the use of a transactional model called Phoenix, Dusk focuses on bringing privacy and anonymity to both transactions and smart contracts. Additionally, tokens deployed on Dusk can build on top of Zedger, a hybrid privacy-preserving model specifically modeled for security tokens. The ‘Segregated Byzantine Agreement’ (SBA) consensus mechanism secures the network. According to the SBA is an improvement over the underlying PoS mechanism as it combines existing ideas like cryptographic sortition (lottery), stealth time-locked transactions (private stake amounts) and a reputation module to increase the chances of selecting honest nodes and further promote decentralization. Dusk is based in Amsterdam, The Netherlands.

If you want to buy, sell or trade Tellor (TRB), you can do so on the following exchanges: * [Binance](https://coinmarketcap.com/exchanges/binance/) * [Huobi Global](https://coinmarketcap.com/exchanges/huobi-global/) * [OKEx](https://coinmarketcap.com/exchanges/okex/) * [HBTC](https://coinmarketcap.com/exchanges/hbtc/) * [Dsdaq](https://coinmarketcap.com/exchanges/dsdaq/) If you don’t know how to buy Bitcoin, we have prepared a [detailed guide](https://coinmarketcap.com/how-to-buy-bitcoin/) for newcomers that will get you up to speed.

The purpose of Tellor’s native token, Tributes (TRB), is to connect and align data reporters, oracle users, and community governance. Security is achieved through Tellor’s governance contract, which uses a simple dispute mechanism to achieve community consensus on the data being reported. The way this works is that data reporters must stake TRB in order to report data and earn rewards, but they can be disputed and slashed, with their stake given to the disputer if they submit data the network deems incorrect. More information on securing the network and theoretical cost of an attack can be found [here](https://docs.tellor.io/tellor/whitepaper/security).

Tellor was launched in 2019 by a U.S.-based team with the aim to address [the oracle problem](https://coinmarketcap.com/alexandria/article/oracles-in-defi-101-a-deep-dive-by-tellor) on the Ethereum blockchain. Tellor was founded by Brenda Loya, Nick Fett and Michael Zemrose. Brenda Loya is the CEO and co-founder of Tellor. Previously, Brenda worked as the VP and Lead Developer at Daxia in the field of blockchain, scalability and data science. Previously she was an economist and supervisory statistician at the U.S. Department of Labor. Nick Fett is a co-founder and CTO of Tellor. Previous to Tellor, he was the founder of Daxia, a derivatives protocol on Ethereum. Nick also has experience in economics, regulation, derivatives, and machine learning including positions at the U.S. Commodities Futures Trading Commission. Michael Zemrose is co-founder and CSO of Tellor and previously did Business development at Daxia. He was also an entrepreneur in media and consulting for several years before joining the world of crypto.

Tellor’s oracle works by incentivizing data reporters to put valid data on-chain while also disincentivizing bad reports via disputes and slashing. Becoming a reporter requires no verification process i.e. permissionless. Anyone anywhere in the world can be a reporter using open source software, a unique characteristic among blockchain oracles. When oracle users request the value of an off-chain data point (e.g. BTC/USD), data reporters compete to add this value to an on-chain data-bank, accessible by all smart contracts on the networks Tellor supports (Ethereum, Polygon, Algorand, etc.) The frequency with which data can be updated is limited only by how much / how often users “tip” the feed with TRB. Also unique to Tellor, data is submitted in bytes meaning the oracle is flexible and robust for nearly any blockchain application.