In this year’s cryptocurrency market, DeFi is undoubtedly one of the biggest hotspots. Compound issued governance token COMP and opened up the mortgage mining design, which completely detonated the DeFi market. Flash exchange mining and market making became encrypted A new way of controlling money for foreign currency holders.
Driven by popular tasks such as Compound, the lock-up volume of DeFi tasks has skyrocketed, and the tokens of DeFi tasks have skyrocketed. Needless to say, the DeFi temperature has also been sent from Ethereum to general public chains such as EOS and TRON.
- What is DeFi DeFi is named Decentralized Finance, this means decentralized finance or distributed finance.
Decentralized finance is in contrast to traditional centralized finance. It identifies various financial programs based on blockchain technology and cryptographic technology and built on an open up decentralized network. The goal of decentralized finance is to recreate and improve the existing economic climate. Blockchain + finance, this is also the understanding of DeFi by most people.
To understand DeFi, we are able to compare and understand it with centralized finance. Refer to the summary of Cai Kailong.
There are lots of functions in centralized finance. For example:
(1) Legal affairs, conformity, KYC, AML, accountants, lawyers;
(2) The exchange, the China Securities Regulatory Commission, and the China Banking Regulatory Commission head to supervise the exchange. What the exchange and the The far east Securities Regulatory Commission do is to match transactions, evaluation dealings, settle and supervise;
(3) Banks and brokerages. Do custody, payment, financing;
(4) The main bank provides currency.
These functions are realized inside centralized finance. Though it works well, it has many shortcomings, which can be supplemented by DeFi.
1) For example, you don’t have for a main bank inside DeFi, because it has its digital foreign currency. Bitcoin, Ethereum, EOS, USDT, USDC can all be used as the underlying payment method;
2) Defi provides wise contracts. In Ethereum, the code is the regulation. Therefore we don’t need legal affairs and judges. As long as there’s a wise agreement, we are able to judge which agreement can be executed; we don’t need a agreement either. Just write the wise agreement and it will be automatically executed when it expires. There is absolutely no agreement dispute; because it is built within the district. Around the blockchain, the agreement will not be tampered with, and the agreement doesn’t need to be kept in a notary or safe; all transactions can be traced, transparent and fair; DeFi is inherently borderless and disintermediated.
These features of DeFi can make upward for the shortcomings of centralized finance. For example, centralized finance will be challenging to universally advantage. Its transaction expenses are very higher, transactions are challenging and slow, and you can find intermediaries such as banks, exchanges, brokerage firms, accountants, and attorneys, which charge service costs.
- The inevitability of DeFi outbreak How come DeFi explode? Actually, there’s a certain inevitability.
DeFi is actually only exchange between digital currencies, home loan lending, blood flow, etc. It is based on the diversity and liquidity of tokens.
Using the continuous development of digital currency technology and the popularization of basic knowledge of digital currency, you can find increasingly more valuable digital currencies, especially the tokens within the ETH public chain. When the digital currency ecology gets increasingly more abundant, therefore these tokens Needs such as exchanges, mortgage financing, etc. naturally arise.
Why do users need to exchange tokens and home loans? In fact, it is generally for economic needs. Traditional financial products may be used for economic management. Needless to say, digital currencies can also be used for economic management, and the rate of return is not low, especially in a keep market. This is a huge rigid need to use the digital currency in hand for economic management.
As more and more people use digital currencies for financial administration, transactions such as flash exchange dealings and mortgage financing between tokens will become increasingly more frequent. Coupled with the constant improvement from the DeFi infrastructure on Ethereum, the mix of the two It’ll inevitably lead to the explosion of DeFi.
Actually, DeFi on ETH were only available in the final wave of bull market. Now the superstar DeFi task on Ethereum has been deployed since then, and the funds required for the introduction of some tasks were raised over the last wave of 1CO After several years of advancement in the keep market, DeFi lastly broke from ETH.
- What are the main DeFi protocols currently on the market To be able to better understand DeFi, we will classify the primary DeFi protocols currently on the market:
- Flash redemption
Because the name indicates, flash exchange means lightning exchange. It is not the same as the order coordinating mode of traditional exchanges. The coordinating has both purchasers and sellers. The exchange actually acts as an intermediary. It matches the purchases of purchasers and sellers.
The flash swap is really a human-machine transaction based on the liquidity pool. The counterparty from the display swap is not another user, however the funds pool. Consequently, the display swap is the same as a human-machine deal.
Since flash swap is really a human-machine transaction based on a fund pool, its transaction depth can be understood as unlimited. So long as you industry, the fund swimming pool will match a price, and the transaction can be completed quickly.
In expensive swaps, users can also earn income by providing liquidity at the expensive swap fund pool.
- Minting stable coins
Many present DeFi products, especially EOS DeFi products, have the function of forging stable coins. For example, PIZZA includes a stable foreign currency USDE, and Defibox includes a stable currency USN.
The principle of minting stablecoins is in fact the procedure of over-collateralizing the base digital currency and minting stablecoins. For example, the procedure of minting USN on Defibox is the process of home loan EOS to generate USN. As the price of digital foreign currency fluctuates an excessive amount of, in order to ensure that the value of the security is enough, over-collateralization is generally required.
- Mortgage loans
The procedure of mortgage financing is actually similar to the process of minting stable coins, except that the topic issue generated after mortgage differs. For example, you can home loan EOS to borrow USDT.
Mortgage lending is also a major company of EOS DeFi. For example, PIZZA includes a home loan lending function, and there’s indeed a demand for digital foreign currency home loan lending on the market. Through borrowing, you can make full use of the digital currency you might have in the hands to maximize your own income.
When we conduct home loan lending, we must pay attention to setting an acceptable home loan rate in order to avoid liquidation.
- Synthetic assets
Synthetic assets are economic instruments that simulate some other instruments. In other words, the risk/return standing of any economic instrument can be simulated by way of a combination of some other financial instruments.
Synthetix on Ethereum is perfect for synthetic assets, and it is the leader in the field of synthetic possessions. Through Synthetix, cryptocurrency possessions such as BTC and ETH can be synthesized. Needless to say, off-chain assets such as gold and shares may also be synthesized. Customers can purchase these synthetic possessions to enjoy the huge benefits generated by the fluctuation of the initial assets.
In addition to Synthetix, Organix within the EOS chain is also a man made asset. According to the scope from the synthetic asset contract, synthetic assets have got unlimited imagination.
Fourth, the advancement and adjustments of DeFi The popularity of DeFi started from ETH. The main reasons why DeFi started to erupt from ETH are as follows.
First of all, the ETH ecological infrastructure is relatively complete. In the end, the ETH general public chain is the pioneer of wise contracts. The ecological advancement time of the Ethereum general public chain is also longer than some other public chains. Needless to say, the layout of ETH DeFi is also relatively early. Numerous ETH DeFi was born. It is earlier than other public chain mainnets.
Secondly, a large number of outstanding developers have gathered within the Ethereum developer community. The Ethereum Basis has also given great assistance to outstanding tasks, including not merely technical support, but also a large amount of economic support. Developers within the Ethereum You may get even more support within the workshop.
Finally, among almost all public chains, the tokens issued within the ETH public chain will be the nearly all. We mentioned previously that DeFi is only the exchange, home loan, blood flow, etc. between tokens. The ETH general public chain has the nearly all forms of tokens. As well as the liquidity is the best, so the demand for dealings between ETH tokens is the largest.
Under the influence of the above factors, DeFi finally broke from the ETH open public chain. Nevertheless, the performance from the ETH general public chain will be flawed. Its scalability has always been an important factor restricting the introduction of the ETH ecosystem. For example, the transaction verification speed will be slow, the system is frequently congested, and the transfer transactions initiated each day might not arrive until the afternoon. And its own GAS fee is very high. In lots of ETH DeFi, the deal fee is sometimes up to tens of a huge selection of bucks, which discourages many new DeFi users.
Due to the many disadvantages from the ETH open public chain, and most ETH DeFi tasks are developed by foreign groups, the user interface is not extremely friendly to our people. Thus giving other public stores a good possibility to develop DeFi. ETH DeFi A number of the users and funds in QQ possess begun to spill over to other public stores, which includes EOS and TRON.
Among the three main public chains, ETH is the leader of DeFi, while TRON and EOS will be the chasers. At present, EOS DeFi and TRON DeFi curently have a certain size.
The development strategies of TRON DeFi and EOS DeFi may also be various. For TRON DeFi, it is promoted from top to bottom. Many of the even more influential TRON DeFi are directly advertised by TRON authorities and even by Boss Sunlight. The effectiveness of standard support is relatively large. Using the support from the boss, the introduction of TRON DeFi within the ecosystem will undoubtedly be smoother.
For EOS DeFi, due to the inaction of EOS public Block.one, it could only end up being promoted by the EOS community. Although B1 will not give any substantial assistance, the development acceleration of EOS DeFi is still very fast. It has begun to consider shape. Needless to say, behind this is the hard work of these pragmatic teams, such as Newdex, TokenPocket, Defis-network, etc.
If ETH is the first echelon of DeFi, after that EOS and TRON will be the 2nd echelon. In addition to these three general public chains, public stores such as IOST and ADA may also be deploying DeFi. At present, basically all open public chains are positively deploying DeFi track.
Not only is the open public chain actively deploying DeFi, but exchanges and huge capital also have invested in the DeFi wave. DeFi has completely blossomed. For example, the three main exchanges also have begun to take action in DeFi recently. DeFi has turned into a niche industry. Increasingly more mainstream.
However, DeFi nevertheless faces the sea of ??stars, and everything is just beginning.
- The development background of EOS DeFi Previously we analyzed the advancement and adjustments of DeFi, and today we discuss the development background of EOS DeFi.
The first projects of EOS DeFi are EOSDT, VIGOR and PIZZA. The first two are developed by international groups. EOSDT and VIGOR are relatively well-known in international EOS communities. For example, VIGOR often appears in BB’s Twitter messages. PIZZA originated by the Chinese language team.
In addition, the first EOS DeFi task also contains Chintai, which started from EOS resource leasing and started earlier than EOS REX. At present, Chintai’s business range has been comprehensive.
However, most of these earlier EOS DeFi tasks did not have got much influence, and it can also be linked to the timing of their emergence, and the publicity from the project party will be rarely seen.
The outbreak of EOS DeFi started with the big harvest Defis-network and Dabao Defibox. Both these projects were launched soon, and contains only been several month since they were launched. And they are all developed by the Chinese language team. The interface is sensible and concise, and an individual experience is very amazing. At the very least with regards to user experience, it crushes many ETH DeFi tasks.
Dabao and Dafengshou have only launched display swap and stablecoin minting features. Mortgage financing and synthetic possessions have not yet been launched. The development of both tasks is very fast, especially Dabao Defibox, which is almost at an amazing acceleration. Develop Defibox’s liquidity swimming pool funds to 10 million EOS lock-up market value.
In addition to Dabao and Dafengshou, Organix, a man made asset task invested by TokenPocket wallet, is going to go online. It targets synthetic assets. It could synthesize BTC, ETH, and off-chain platinum, shares, etc. onto the EOS chain. Solve the problem of insufficient token classes and insufficient liquidity within the EOS chain, and promote the introduction of EOS DeFi.
In fact, in addition to the above EOS DeFi, there are also many built-in DeFi products within the EOS ecosystem. For example, RAM, REX, etc. Occasionally the consciousness of BM is indeed advanced.
RAM is the storage space resource of EOS. EOS RAM resources need to be bought through EOS, and the price tag on RAM resources is also priced based on the ratio of the quantity of EOS within the RAM fund swimming pool to the quantity of RAM, mainly using the Bancor algorithm. When RAM was first released, it had been hyped. Afterwards, a gentle development was adopted to solve the problem of excessive RAM price fluctuations.
REX is EOS’s CPU/Internet resource leasing program, which gathers the idle EOS resources in the hands of users and provides them to those that need them. EOS holders can transfer briefly idle EOS towards the REX fund pool to make resource leasing income, while EOS resource demanders can rent the required CPU/NET resources within the REX market better value. The price of CPU/Internet in REX also adopts Bancor algorithm. EOS REX program solves the problem of the supply and demand of EOS CPU/Internet resources.
- The impact of EOS DeFi within the advancement of the EOS ecosystem EOS’s goal is to understand the large-scale application of blockchain technology. Since the mainnet proceeded to go reside in June 2018, the EOS ecosystem has truly gone through a lot more than 2 yrs. Like other general public chains, EOS has always been exploring a route that fits itself.
- DeFi is an important development direction of EOS general public chain
Following the EOS mainnet went reside in June 2018, gambling DAPPs were once extremely popular on EOS, and even gave birth towards the EOS resource renting market and later on the EOS REX system. But betting DAPPs are usually too marginal and challenging to go popular.
Then, the amount of blockchain games built within the EOS public chain has gradually increased. In the end, the EOS general public chain has the highest performance. Not only will the transfer have no fees, nonetheless it can also achieve the second-level verification speed, which requires high real-time performance. Blockchain games of the world can only become built within the EOS general public chain. But at the moment, the scale of blockchain games within the EOS general public chain is still relatively small.
The EOS public chain is also actively installation of the social track. For example, the social application Voice released by Block.1 is currently in the open beta period, and the state version will undoubtedly be launched inside the first one fourth of next 12 months.
Whether it’s gaming or games, as well as social programs, the EOS open public chain is still exploring, until the outbreak of Ethereum DeFi in 2020, the EOS open public chain appears to see a route that is more desirable for itself, that’s, decentralized economic DeFi. .
Therefore, DeFi provides found a more suitable direction for EOS. It includes a broader advancement potential customer. EOS can have fun with a greater benefit within the DeFi track, and DeFi will become increasingly more mainstream than gaming applications. Group the crowd.
- DeFi promotes the issuance of EOS edition of USDT
The efforts from the EOS DeFi project led by Dabao, Dafengshou, Diamond and other projects also have forced the EOS version of USDT to be issued many times. Presently, the EOS edition of USDT provides a lot more than 90 million. Most of these EOS versions of USDT are In the EOS+USDT fund pool that flows to Defibox and Defis-network, I believe that in just a few days, Tether will continue steadily to issue EOS-USDT.
In addition to the EOS DeFi task that’s absorbing USDT, increasingly more second-tier exchanges have begun to aid EOS version of USDT, such as matcha, gate, etc. It is believed which the three major types will also assistance EOS-USDT soon.
When the blood flow of EOS-USDT gets larger and much larger, it is beneficial to the blood flow of tokens within the EOS ecosystem and will promote the introduction of the EOS ecosystem.
- Grabbing EOS prices power
Using the continuous development of the EOS DeFi task, the impact and impact on centralized exchanges is also relatively large. The EOS DeFi task referred to here’s generally the branch display swap SWAP function of DeFi, which is the DEX based on the fund pool.
EOS DEX based on human-machine dealings in the fund pool, such as Defibox, is dependant on wise contracts. All functions occur within the chain, open and transparent. All transaction data can be queried within the chain. AMM mechanism will be adopted. It is comprehended as unlimited deal depth and there is absolutely no waiting time for matching.
Moreover, EOS DEX based on the human-machine deal of the fund pool, users will not only perform display transactions, but also obtain income by providing liquidity at the fund pool, which is commonly known as a market creator.
In the swap fund swimming pool of Defibox, you can find currently a lot more than 10 million EOS market-making assets. Calculated at the existing EOS price, the market value has already reached a lot more than 200 million, and the deal depth provides exceeded many centralized exchanges.
As Defibox’s swap fund pool grows larger, it will become increasingly difficult for centralized exchanges to regulate prices. If the exchange pin is inserted, arbitrageurs will immediately shift bricks and arbitrage between the centralized exchange and the DEX based on the funds pool, therefore smoothing the difference between the two.
For example, on the night time of September 2nd, when there is a sharp fall, a large number of users bought EOS on Huobi and visited Defibox to sell EOS for arbitrage, which stabilized regular liquidity to a certain extent. The price of EOS will become increasingly more market-oriented, and you will see fewer and fewer black-box functions in centralized exchanges.
While Superjun said, DEX based on the AMM mechanism seems to be regaining investing pricing power with its deep liquidity.
- Why the amount of addresses kept by Defibox token Container ranks first in EOS DeFi tasks. Let’s first briefly bring in Defibox:
According to the white papers: Defibox() is really a professional one-stop DeFi application system on EOS. It is initiated and managed by the Defibox Basis and is funded and backed by Newdex. The task was launched on July 21, 2020, and is committed to getting the most trusted DeFi application system for EOS users. At present, Defibox has released two agreements, particularly Swap display swap and USN stablecoin (previously Danchor task). More agreements will undoubtedly be launched in the foreseeable future, such as decentralized lending, artificial assets, etc.
An important indicator to measure the development of a DeFi task is TVL, that’s, Total Value Locked. Presently, Defibox’s SWAP fund pool locked up has already reached a market worth of more than 10 million EOS. Moreover, the amount of holding addresses of token Container has already reached 11835, which is the largest number of holding addresses among all EOS Defi system coins. Defibox is also a extremely good DeFi task in the entire DeFi track.
The advancement speed of Defibox is very fast, reaching this type of height in just over per month, and the quantity of locked positions within the fund pool is still growing. You can find reasons for the accomplishment of this achievement in such a short period of time. Let’s briefly evaluation it together.
- Behind it is Newdex, which is constantly on the cultivate EOS ecology
Defibox is really a DeFi task funded and promoted by Newdex. Newdex has been deeply involved in the EOS ecosystem for a long time. It started from your EOS decentralized exchange and developed along with the EOS main system.
Many tracks inside EOS ecology and Newdex have layouts:
1) Newdex established the EOS mining swimming pool Newpool. Users need not transfer EOS towards the Newpool mining swimming pool account. They just need to delegate the EOS voting privileges to Newpool’s proxy voting account. EOS is definitely in their very own wallet. For users In other words, the security of EOS funds is assured, and voting at the Newpool mining swimming pool is still lucrative, and the arrangement is daily.
2) Using the blessing from the Newpool mining swimming pool, Newdex has also become the super node from the EOS mainnet, and most from the node income is distributed to users who voted at the Newdex node.
3) Newdex is the most decentralized EOS decentralized exchange. There is no need to join up. You should use the finances connection to conduct transactions. Following the deal is completed, the related Token is immediately transferred to the user’s EOS finances, and the user’s foreign currency is not getting traded. Custody, and the purchase matching is also carried out within the EOS chain.
Newdex has developed the idea of decentralization towards the extreme. It is the EOS decentralized exchange with the highest amount of decentralization and the smoothest experience.
It is precisely because of Newdex’s continuous strong cultivation from the EOS ecology that Newdex is still very familiar with the EOS ecology and has accumulated a large amount of ecological resources. This will need to have a great resource benefit for Newdex to build a new EOS task. Defibox appeared in this context.
For Defibox, it has received the blessing and endorsement of Newdex right from the start. Needless to say, it includes a great resource benefit. The brand aftereffect of Newdex’s long-term strong cultivation and build up can add factors towards the Defibox system. It can be said that in comparison to some other tasks Said that Defibox won in the beginning line right from the start.
- Enough time for Defibox to cut in is good
The popularity of DeFi started from Ethereum, however the performance from the ETH public chain is insufficient, the network is frequently congested, and the GAS fee is very high. The threshold for many users to take part in ETH DeFi is too high, which will inevitably trigger some users and funds to overflow to others On the public chain, the EOS general public chain is one of the beneficiaries.
Compared with ETH, EOS transfers are free and transactions are confirmed within minutes, which is an excellent soil ideal for the introduction of DeFi.
Nevertheless, the EOS general public chain layout from the DeFi track is relatively later, and the EOS DeFi tasks are still relatively small. Even the first deployment from the EOS DeFi task has basically not much influence and cannot afford the backbone of EOS DeFi. At this time, Defibox appeared, and its development was extremely rapid. It had taken greater than a 30 days to reach the EOS DeFi task, which is the number one token holding address.
In short, Defibox not merely caught an integral part of the users who overflowed from ETH DeFi because of performance reasons, but also attracted the prevailing users within the EOS ecosystem.
- Defibox is operating well
Although Defibox has received solid support from Newdex, and enough time to trim is good, it has the first mover advantage, if the Defibox team will not operate very well, it will not have the ability to do it, and undoubtedly you will see no achievements today. The achievement of Defibox is inseparable from your team’s operations.
1) The interface is simple and practical
The interface of Defibox is simple and practical, and the knowledge is very silky. In the event that you attempt ETH DeFi items on the market and experience ETH DeFi and experience Defibox, the knowledge will be completely different. If ETH DeFi is Nokia, after that Defibox is the representative EOS DeFi is the iphone.
2) Defibox includes a robust design and long-term positioning
Defibox has inherited the design of Newdex. Newdex has been deeply involved since the launch from the EOS mainnet. It is not radical, detail by detail, and every action is very practical. Like Newdex, Defibox is progressive and non-radical.
When Defibox was first launched, flash investing mining was not started. The market maker mining had been started first. When the deal depth became stronger, flash investing mining started. To some extent, it also displays Defibox. I intend to continue steadily to cultivate and place a long-term design.
Moreover, when strengthening the investing depth, it is essentially a targeted strategy of only doing one investing pair at the same time. When one investing pair becomes stronger, the next one is targeted. At present, Defibox’s fund private pools “EOS+USDT” and “EOS+KEY” have become the most deeply traded fund private pools on the market.
To be able to promote the stability from the USN price, the building blocks has repeatedly initiated proposals to adjust the annualized rate to accomplish an optimum annualized rate value.
In short, the Defibox team is still relatively stable, detail by detail, small steps.
3) Container mortgage
Defibox has also opened the Container mortgage dividend function. The mortgage Container can take part in the income dividend, which is settled every hour. Container mortgage is the same as holding foreign currency to earn curiosity. As long as the Container will be mortgaged in Defibox, you can receive the income. Additionally it is a financial administration method for holding Container.
4) Decentralized governance Container DAO
To be able to practice decentralized governance, Defibox also established a decentralized autonomous community, BOX DAO, which is mainly composed of Defibox token BOX holders. It maintains task operation and promotes task advancement through proposals and voting governance. The ultimate goal of Container DAO’s development is to disband the Defibox Basis and achieve even more comprehensive decentralized autonomy.
Before voting, Container should be mortgaged. This is much like EOS node voting. Mortgage BOX can get governance votes. 1BOX=1 vote. The greater BOX you hold, the greater governance votes you’ll get. Unlike EOS, EOS takes 3 days to unlock, while Container only takes 1 day.
Users can take part in governance by voting on proposals as long as they hold BOX and also have pledged them. Presently, Defibox provides initiated 12 proposals.
- Defibox security policy
For DeFi, agreement account security is basically the most important thing. It affects the quantity of funds within the liquidity swimming pool. If security is not guaranteed, users are frightened to deposit funds.
Recently, in EOS DeFi, we have also seen the jade project’s runaways and the loopholes within the coral contract, that have a great impact on EOS DeFi. Safety is the cornerstone of EOS DeFi. Actually, through certain security precautions, it could be avoided. Many unneeded losses.
To be able to assure the safety of funds within the contract account, Defibox has done a lot of work with regards to security, which can be called the industry benchmark.
1) Safety audit
The essence of a smart contract is really a little bit of code running in the blockchain network, which fulfills the functional requirements submitted by an individual. However, programs compiled by human beings are bound to have loopholes and problems. The security audit corporation conducts a thorough inspection from the wise contract, reviews the potential security risks from the contract and provides improvement plans to guarantee the security from the wise contract code of the online project.
Defibox’s smart contracts have got passed the security audit from the well-known blockchain security businesses Paidun and SlowMist, providing an important guarantee at the security of the code.
Moreover, each time the agreement code is updated, Defibox may deliver Paidun and SlowMist in advance to conduct a security audit and release the edition to guarantee the security from the code.
Using the escort of professional security companies in the code level, Defibox has increased the trust of users, and Defibox’s liquidity swimming pool is growing.
2) Open up multi-signature function for agreement account
For Defibox, the assets within the display swap fund swimming pool are stored in the swap.defi account, which shops the user’s market-making possessions. Defibox’s USN stable currency smart agreement account will be danchorsmart, which shops the EOS possessions that users make use of to generate stable foreign currency USN and home loan.
The private keys of these two EOS accounts are kept by the Defibox project team. If the task team transfers the possessions inside and runs away, users essentially cannot recover them. To be able to get rid of the user’s worries, Defibox has also enabled the multi-signature function for the above two accounts, meaning when the agreement account code adjustments or the task party really wants to transfer the possessions inside, Defibox cannot complete it unilaterally, it requires other Only when the nodes taking part in the signature indication jointly can the related transaction be executed.
As is seen from the above physique, Defibox multi-signature adopts the “1+3” design, that is, whether it is to change the code or transfer the possessions in the agreement, Defibox can’t be completed by itself, as the defibox utilized to indication the account excess weight is 20 , The threshold 23 is not reached, if you wish to perform related functions, you will need to indication defibox and any other 3 nodes at exactly the same time to be valid.
Among the nodes taking part in the Defibox multi-signature, you can find EOS super nodes, security companies, and well-known wallets. Through multi-signatures, the decentralized administration of core possessions is realized, and users’ assets tend to be more secure.
3) Bounty program
According to Defibox, the bounty system is really a useful try to motivate “ethical hackers” to actively take part in the ecological construction from the project. With the release from the “Bounty Plan”, “issues” or “deficiencies” are discovered in the way of benefits, and the first warning and task safety are strengthened. In the event that you distribute a contract security vulnerability that impacts Defibox, and maintain such vulnerabilities confidential, until our technical engineers resolve the vulnerabilities, you can get benefits at the corresponding vulnerability ranges.
Defibox offers launched the “bounty system” from your perspective of security, and proactively extended an olive branch towards the “white hat” to improve project basic safety and reduce task risks.
4) Open source code
According to the public Defibox task, the Defibox Foundation is already likely to fully open source the contract code.
In the future, the contract code will undoubtedly be audited by the security company, and the account multi-signature function will undoubtedly be enabled. It’ll become the regular configuration of an EOS DeFi task. Some project events will also open up source the code and release a bounty system to improve the security of contract accounts. .
- 14 Recommendations to Defibox Based on my own experience, I dare to make a few recommendations of my very own. Of course, because of my limited degree, some suggestions may be just a believed, and I have no idea how to put into action it. I try to stand by From your user’s point of view, provide some useful suggestions, expecting to function as a research for the task party.
- Single currency market making
It is recommended to start individual currency market getting, which can facilitate user market getting and lower the threshold of market making.
For example, if a user only has one currency, EOS, but really wants to use the EOS in his hands to make market to earn income, Defibox can replace half of EOS using a user-specified currency, such as USDT, in order that EOS + USDT investing pairs are market-making to earn revenue. If you wish to withdraw from market-making, you can exchange USDT back again to EOS according to user needs.
Whether it is single currency market getting or exiting market making, I hope it could be finished with one click on, the simpler the better. For example, you can start with the USDT/USN stable foreign currency.
- Solve the loss of impermanence
The impermanence reduction has always been an important factor affecting the user’s market-making yield, and contains also affected how big is the liquidity pool from the DeFi project party. If the problem of impermanence reduction can be solved, the amount of users will greatly raise, and the liquidity swimming pool of the task party will also grow larger.
At present, some projects within the ETH DeFi ecosystem have solved the problem of impermanence, such as Bancor V2.
Bancor V2 breaks or cracks the original AMM and introduces the oracle device to feed the purchase price AMM. Since then, the value from the tokens on both sides from the AMM will not be equal. V2 uses an oracle to give food to prices to adjust the weights on both sides from the tokens, that’s, the amount of A tokens * A price does not have to be equal to the amount of B tokens * B price, and the arbitrage possibility is flattened by the oracle.
Defibox can use the suggestions of Bancor V2 to attempt to solve the problem of impermanence.
- The pending purchase immediately completes the transaction
Inside a centralized exchange or perhaps a DEX based on an order coordinating mechanism, users can either elect to trade immediately at the market price, or elect to trade in a specified price.
In DEX based on the AMM (Automatic Market Maker) mechanism, users cannot pick the transaction price by themselves, as well as know the existing price, and the price tag on various transaction volumes differs. For users, Basically it is relatively passive. Can Defibox create a function much like automatic pending purchase transactions, that allows users to specify deal prices? It can be used like a product to flash exchange transactions to assist in users to control expenses.
For example, for EOS/USDT display swaps, users can place an order at a cost of 3.2 USDT, so when the corresponding investing pair within the fund pool fits this price, it will be automatically executed (needless to say, the user must select a price fluctuation range). In this way, for those who perform short-term arbitrage, you don’t need to keep watching Defibox to check on the price, and the transaction will undoubtedly be immediately executed once the price you specify will be reached.
- Screen the K-line graph of currency exchange prices
It is recommended to show the historical price candlestick chart from the currency in the flash exchange.
For example, at the EOS/USDT trading set, the historical K-line graph of EOS denominated in stable currency USDT can be displayed. In this way, the historic price may be used among the research factors during the exchange operation, which is hassle-free for users to create decisions. There is absolutely no historic price as For reference, I always feel like I am buying higher or selling low.
- Defibox matches users to market orders
When we certainly are a market maker in Defibox, we usually need to deposit two digital possessions in a certain proportion. When there is no related two tokens in hand, market making cannot be carried out. Can Defibox consider coordinating assets within the hands of different users to complete the market making? You can consider introducing the order-combining function of e-commerce into DEX, which can lower the market-making threshold.
For example, user A has EOS assets in his hands and user B has USDT assets in his hands. Can Defibox go with users A and B to make the market? In this way, the coins within the hands of differing people can be matched up to make the market, thereby strengthening the transaction depth from the Defibox fund pool. Needless to say, how users A and B will deliver profits or keep losses can be discussed in further detail.
- Cross-chain exchange and market making
Because of the limitation of EOS ecological advancement, there are very few forms of tokens within the EOS open public chain, and the liquidity is not good, thus before Defibox introduces the man made asset protocol, whether it is possible to take into account using a cross-chain method to transfer BTC, ETH, etc. These high-quality possessions with relatively big trading volume are mapped towards the EOS chain, and then related flash exchange dealings are opened up in Defibox. The advantages of this are:
First of all, it could expand the deal volume of Defibox; secondly, it is also convenient for users to exchange possessions on different stores, such as the exchange between EOS and ETH, etc.; lastly, for users, various chains can be realized through cross-chain Market-making of possessions, such as EOS/ETH (right here ETH identifies ETH within the EOS chain) is used to create market-making to make revenue and activate the possessions on different stores in the hands of users.
- Open the prosperity management section
It is recommended that Defibox open up the wealth administration section. Customers can receive curiosity even if they deposit a single foreign currency. For these possessions, Defibox can be used to make market or go with different users to create market. It is also utilized to vote for EOS nodes.
Currently, there’s a BOX mortgage function on Defibox. In addition to BOX, can you really consider opening even more asset financial administration functions?
- Display foreign currency RMB price
Since we are accustomed to displaying the exchange currency in RMB, users tend to be more sensitive towards the RMB price of the currency. It is recommended to show the RMB price of the foreign currency in the flash exchange.
For example, within the EOS/USDT exchange interface in the above physique, the real-time RMB price of EOS can be displayed to facilitate users’ transactions.