The process of building cross-chain dapps simplified using decentralised Protocols like Steer
Today with protocols like Steer it is easier for developers to create cross-chain dapps. As with Steer, dapps can be built by writing code in numerous programming languages with the option of writing code in 20+ coding languages.
This is unlike creating dapps in certain Blockchains, where Web3 developers have to learn how to code in one specific coding language that is byte-compatible with that Blockchain's virtual machine for parsing.
This is pretty cool from a Dapp developers perspective, but there are more conveniences in store for dapp developers using Steer.
All Steer Web3 dapps have access to decentralized Data by default
Developers can create functional cross-chain Web3 applications having access to both on-chain and off-chain data by default from Steer’s Data Market Place.
Every Web3 application created using Steer protocol has 10 data integration points to connect with these data connectors on Steer’s Data Marketplace.
Steer’s Data Marketplace is a decentralized and self-sustaining ecosystem, as data providers are incentivized to provide data. Since, all data in Steer’s Data Marketplace has value, it will only go up in time as more dapps in future emerge to use Steer Protocol.
Multi-chain compatible and scalable dapps with Steer's off-chain computing capabilities
Another, important plus point with Steer is the protocol’s off-chain computing capabilities. Complex operations can be computed off-chain, with the verifiable results then posted on-chain. All this increases the operational speed of Steer Protocol-powered dapps.
Developers can deploy their created dapps in Blockchain of their choice.
Developers are freed to focus on building innovative dapps powered by Steer's Web3 infrastructure
If dapp developers instead had to develop Web3 applications without using a protocol like Steer, they would have to invest in building and maintaining node infrastructure. Apart from this they also have to arrange to secure the dapp's operations with technical personnel, who would validate transactions of the dapp users.
They are generally validators and node operators securing the Network powering the dapp functionalities.
Now, dapp developers who are building Web3 apps using Steer, need not worry about this backend infrastructure. They can solely focus on developing good quality dapps with innovative new cases.
Streer’s Web3 infrastructure is decentralised apart from being secure which is a mega bonus for the Web3 community!!
There's more with Steer's technology powering efficient Web3 functionalities of Dapp protocols
A more indepth explanation of Steer nodes' way of securing dapps will be covered in another article. This is worth understanding as the mechanics involved in this arena are interesting.
Streer Protocol has more services to offer catering to already established protocols and Liquidity Providers as well.
Steer provides App Engines for protocols to use, to power protocol’s various Web3 functionalities more efficiently.
A case in point is the Steer team's built Multi-chain Most Advance Automated Liquidity Management app engine that is already used by leading Dexs – Uniswap, Trident.
Steer App Engine making liquidity management for LPs smarter and more profitable!
This Multi-chain Most Advance Automated Liquidity Management app engine has made it possible for Protocol users to devise yield-based strategies, where liquidity management is automated according to parameters set in the strategy.
So, when the price of the asset pair inside an LP pool changes deviating beyond a percentage point, allocated liquidity can be automatically removed from that asset pair LP pool, reducing negative impacts of impermeant loss!
This reduces strain on users, to have to immediately adjust positions as and when market prices change. This makes LP investments more profitable, as loss reduction techniques are applied on time. Pretty cool!
This is the next-generation model for Automated Market Makers, with smarter and more capital-efficient management of allocated liquidity.
LPs can create smart and well-tested LP yield strategies & benefit!!
After scrutinizing its details, a user can just use any of the created yield-based strategies for an asset LP pool.
The creator of a successful strategy providing positive fee earnings for its users and adding up to the protocol’s revenues would be rewarded with a portion of the protocol fees.
Again, pretty cool! There are ways for smart Liquidity Providers to earn revenue creating successful LP yield Strategies.
Such yield strategy creators can test their LP yield strategy before deploying it. Here, yield strategy creators can test their strategy in real time obtaining data feeds from Streer’s Data Marketplace. So, they know how their strategy fares in prevailing market conditions with current market prices and liquidity levels.
For ex, a strategy creator can build a yield-based LP strategy gauging the real-time buy and sell volume levels set in the order books of Binance Exchange. Binance is one of the world's largest CEXs with the largest amount of trading volumes and liquidity.
Conclusion
Streer Protocol is unique as it's Web3 infrastructure is designed not only to facilitate developers in building secure, cross-chain, scalable dapps easily but also to enhance Web3 functions of established Dex protocols to be more effective.
More on Steer Protocol another time. Have a good day!
Steer Protocol -: https://steer.finance/
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