Stacktical is a start-up specialized in IT service management. In its early days, the company developed a data tracking and analysis tool that has enabled many protocols to scale up. Today, it allows online service providers to offer their customers insurance coverage against unforeseen events, such as malfunctions or outages, which can result in huge losses. An administrative process that was once tedious, but today is automated by the magic of Stacktical smart-contracts.
DSLA Protocol, a concrete answer to a real problem
When an IT service is subscribed, the quality of the services is guaranteed by the Service Level Agreement (SLA), a specification that the service provider has to respect. If the service in question is delayed, interrupted or causes financial losses to the customer, the SLA allows for compensation to be claimed. However, until now, obtaining compensation has been a very complex legal process.
Stacktical now proposes to automate this process thanks to blockchain technology. If the supplier does not respect the commitments made with the user, then smart contracts come into play to automatically compensate the latter.
Far from being anecdotal, these “decentralized” SLAs (or DSLAs) are seeing their use case explode by extending their field of competence to certain DeFi protocols such as staking for example, and are even becoming additional sources of revenue for liquidity providers.
Ensure your service with DSLA Protocol
As an example, if a DeFi platform wants to offer its customers a cover for its staking offer, it just has to go to the Stacktical marketplace and follow the following steps:
- Choose an existing DSLA or create your own, on one of the many blockchains supported by the DLSA Network application
- Deposit crypto-currencies as a user to hedge against the risk, similar to an insurance policy. It is also possible to deposit as a cash provider to, conversely, help secure risk, and be rewarded for it.
- Checking the SLA
The SLAs checked on the application will provide a guarantee of one week by default, but this time can be adapted to the usage to cover different periodicity: hourly, daily, weekly, bi-weekly, monthly and yearly. As an example, a user looking to hedge for 3 weeks will therefore have to deposit his cryptos on pools that, put together, will represent 3 weeks of service activity.
When the agreement expires, it is either honored or broken. If the agreement has been honored, then the liquidity providers can claim the tokens deposited by the insured. If the agreement is broken, then the policyholders can claim their compensation by dipping into the tokens of the liquidity providers.
DSLA Protocol’s offer can therefore be compared to a predictive market on the proper functioning of a service, such as the staking chosen for our example. This new way of verifying, automating and implementing SLAs increases their transparency and greatly facilitates their application. In this way, Stacktical hopes to enable more individuals and businesses to benefit from their advantages, while helping providers to improve their service quality and business results.
DSLA Academy
As branding is one of the cornerstones of entrepreneurial success, the future of the DSLA industry lies in its ability to add value to this relationship of trust between the customer and the company. This is a challenge for a new and still unknown blockchain field of expertise, which will have to find the means to make its place and spread its knowledge to the crypto community.
Stacktical has therefore decided to set up a DSLA academy. An original interactive learning experience using NFT technology as a vector. Indeed, the tokenization of knowledge is a new field to explore for these famous Non Fungible Tokens and Stacktical sees the opportunity to weld a user base around the value they contain, as well as the advantages they bring.
By November 30, no less than 101 NFTs from the “Genesis” collection will be mined and randomly distributed to investors holding at least 100,000 DSLAs. These unique tokens with random features are inspired by the company’s commitments. The tokens will provide their holders with several benefits, including reduced fees for using Stacktical services.
While the service provider market has a lot to gain from SLAs to increase and retain its customer base, these contracts are still underutilized and policyholders often struggle to get compensation. The solution developed by Stacktical automates this process to get a fast and secure compensation without any additional steps.
