updated 1 year, 2 weeks, 6 days, 2 hours, and 55 minutes ago
Data source: CoinMarketCap
Olympus Labs (MOT) to Singapore Dollar (SGD) Conversion Table
About Olympus Labs
Cryptocurrencies and crypto assets have emerged as a new asset class and are rapidly becoming more mainstream every day. But investors cannot leverage the full potential ofthis groundbreaking innovation yet because there is one crucial enabler for this financial ecosystem is still to be built. The total market capitalisation of cryptocurrencies was USD12.4 Billion in June 2016 but had grown to over USD 106.6 Billion by June 20111. At the time of writing this whitepaper, the total market cap for cryptocurrencies was touching USD350 Billion. However, this growth was unaccompanied by a supporting financial infrastructure that will facilitate financial activities that are backed by derivatives, market instrumentsand unified markets. Let us consider the example of a simple financial activity of applying for a loan in a traditional market. Traditionally, the lenders will estimate the borrower's capacity, acquirecollateral, cross-check for over-borrowing and cross-collateralization before proceeding with the loan. Once it is issued, then this loan can be refinanced on the market. However,we don’t have an efficient way to collateralise Bitcoin or other crypto assets for a crypto loan. This means that we cannot yet send the crypto assets to a multi-sig wallet which has atrusted signatory who serves as the prospective lender.