- Published on
- 04/21/2021
Data Access doubles down on DeFi with BIND
The top ranking enterprise known for DataFlex (Coca Cola Co., ING Bank) staked close to one million BIND to participate as a Compendia validator.
Data Access is best known for its app development suite DataFlex, used by enterprises such as ING Bank, Coca-Cola, and ABN AMRO Bank.
In 2018, Data Access had already voiced their interest in the blockchain industry by establishing a partnership with the decentralized application platform nOS.
Now, Data Access has launched a validator on Compendia, the decentralized network for open data, staking nearly one million of Compendia's native cryptocurrency - BIND (obtainable on Uniswap as wBIND) - locking the coins for the maximum duration of one year.
Ready to dive in? Get BIND today.
Next to its powerful upcoming Database Oracle features, Compendia also offers a suite of DeFi solutions such as an ERC20 wrapped token, a wallet app with Ethereum bridge, a Uniswap-powered DEX, and yield farming.
Compendia is the Wikipedia of databases for apps, services, blockchains, smart contracts, IoT, A.I. and more.
Think of Compendia as an oracle network, but instead of serving one piece of simple data for one specific topic, the network can serve full data collections from many sources relating to any topic.
BIND coin represents "vote power". BIND can be staked (locked for a duration) to increase the number of votes that an account is worth.
Since validators (the network's miners) depend on votes in order to mine blocks and earn rewards, they commonly choose to share mining income with their voters ("sharing validators").
BIND holders who vote for a sharing validator frequently receive rewards on their wallet.
Staking can increase a voters' power (and thus their reward share) by up to ten times depending on the stake duration (three months up to one year).
Instead of becoming a sharing validator relying on third-party stakers, Data Access took a more aggressive route:
The enterprise staked close to one million BIND themselves - for the maximum duration of one year - in order to vote their validator into a forging position and as an investment in the future of Compendia's upcoming Database Oracle features:
"Data Access Worldwide has been highly interested in the Compendia platform. It is a true and meaningful blockchain initiative that we support by providing high quality, continuous validation services."
— Excerpt from the data_access validator profile.
wBIND can be purchased with ETH on Uniswap and swapped to BIND in the DeFi panel of the Compendia wallet.
Compendia is acclaimed for being the first full-feature blockchain built with the ARK Framework to officially partner with ARK.io (creators of the ARK Public Network and framework).
To find out more about Compendia, visit the following resources:
To learn more about Data Access Worldwide and their DataFlex development suite, visit DataAccess.com.
