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Blessed by 16 well-known institutions, will this be the most watched DeFi project in the second half of the year?



The market value of DeFi has repeatedly hit new highs. On this broad road, people are gearing up, just like the gold rush in the western United States in the 1990s. I think it is because of this that the so-called liquidity mining brought by DeFi constitutes a beautiful landscape of cryptocurrency this year. What people hold is no longer the hoes and shovels of the past, but a string of codes.

As the market value of DeFi has been soaring all the way, people seem to have found some flavors of 2017 on this track, but this is indeed the case...

Whether it is the subversion of Compound, innovations like Uniswap, or projects like Synthetix that occupy an important gateway with synthetic assets, we have all seen the explosion brought about by DeFi after lurking in 2019, and this is the blockchain belt. The fun of coming is also the wealth effect of cryptocurrency.

Among them, Synthetix is the most promising synthetic asset track. The founder Kain Warwick established Havven (the predecessor of Synthetix) in 2017. They created the stable currency nUSD, but the stable currency market is too competitive , and later transformed into a synthetic asset agreement platform that can anchor stock indexes, gold and other cryptocurrencies, which is now Synthetix.

Football finance expert: Chelsea needs to rely on the Metaverse if it wants to earn 1 billion pounds: Jinse Finance reported that after Clear Lake Capital acquired Chelsea for 4.25 billion pounds this summer, its executive Feliciano said that there is a chance to transfer Chelsea. doubled its revenue to £1 billion. In this regard, football finance expert Kieran Maguire said that if Chelsea can persuade people to pay for pay-per-view games through headsets, they will pin their hopes on the Metaverse. Kieran Maguire added: "I think the Chelsea consortium is very focused on media technology, they know that Chelsea have a global fan base and most of that base is less likely to go to Stamford Bridge and there aren't many. Tickets. Maybe they're thinking: can we give the fans a Stamford Bridge feel? And that's going to depend on the metaverse." (The Athletic UK) [2022/10/16 14:29:20]

Why is Synthetix often called the strongest value capturer in DeFi projects?

Taking stablecoin mortgage as an example, when mortgaging through Synthetix, the system will require users to generate sUSD at least at an excess mortgage rate of 750%, which means that assets generated in this system need to pledge at least 7.5 times the value of the native token SNX to generate synthetic assets , much higher than the conventional DeFi projects we are familiar with.

Mina protocol development company O(1)Labs received a strategic investment of 10.9 million US dollars: Mina protocol development company O(1) Labs received another 10.9 million US dollars in strategic investment to accelerate the development of blockchain protocol Mina (formerly Coda protocol) in Asia . The financing was led by Bixin Investment and Three Arrows Capital. Participating investors also included SNZ, HashKey Capital, Signum Capital, NGC Ventures, Fenbushi Capital and IOSG Ventures. (The Block)[2020/10/21]

Such a high over-collateralization will inevitably bring better security to the ecology, because the logic is very simple, the mapped assets are not absolutely reliable and real, and the effect of the oracle machine cannot completely avoid all asset on-chain problems at present. Therefore, through a higher mortgage rate, the safety factor of the project can be enhanced.

We will not discuss here how Synthetix completes the staking, and how mortgagors, traders, external liquidity providers and arbitrageurs in the ecology contribute to the ecology. There are already good materials for everyone to understand and learn from .

The results of the Filecoin space race are released. Renren Mine won 107,317.17 FIL rewards: On September 15, the three-week Filecoin Space Race Space Race officially ended. RRMine/Renren Mine relied on its superior software algorithm and continuous and stable ability to accept orders , won a total of 107317.17 FIL rewards.

The specific ranking is as follows:

1. RRMine/Renren Mine Asia node t02614, with a total computing power of 8.25PB, ranking fifth in the world; European node t03362, ranking fourth in the region; Oceania node t010424, ranking sixth in the region.

2. The total number of blocks produced is 11871, ranking fourth in the world, and the average order success rate is higher than 98%, ranking third in the world.

3. According to the cost of the mining machine and the total amount of coins produced, the packaging efficiency is calculated: 6GB/hour/10,000 yuan, ranking first in the packaging efficiency of 10,000 yuan in the market public data. [2020/9/15]

Let's focus on what advantages Synthetix has over other DeFi projects?

The first is the innovation of on-chain synthetic assets, where no counterparty is required in this transaction. Therefore, when a trader uses sUSD to exchange sBTC, sBTC is essentially newly generated rather than sold from someone. After the transaction is completed, sUSD will be destroyed and new sBTC will be created for the trader.

Dynamics | Blockchain startup Clear has raised $13 million in Series A funding: Jinse Finance reported that blockchain clearing startup Clear has raised $13 million in new funding led by Eight Roads, a venture capital firm owned by Fidelity. Lead the vote. Clear hopes to use the funding to grow its team, scale its business in telecommunications, and expand into other industries.

Clear, an Israeli blockchain startup building a settlement and clearing network for businesses, raised $13 million in Series A funding. Eight Roads, the venture capital arm of Fidelity, led the round, with participation from telecom giant Telefonica Innovation Ventures, Deutsche Telekom's Telekom Innovation Pool, Hong Kong Telecom (HKT) and Singtel Innov8. [2020/2/6]

Secondly, the Synthetix exchange provides theoretically unlimited liquidity, and there is no transaction slippage, because more traditional assets (stocks, gold) and encrypted currency assets (BTC/ETH) can enter the pool through the pledge of SNX, And form a large asset scale, but currently SNX must have a ceiling because of its market value.

Dynamics | Clear received US$13 million in Series A financing to build a blockchain transaction system: Jinse Finance reported that Clear, a start-up company aiming to build a blockchain for large-capacity transaction systems between telecommunications companies, announced that it has received 13 million USD Series A financing. The round was led by Eight Roads, with participation from Telefónica Innovation Ventures, Telekom Innovation Pool of Deutsche Telekom, HKT and Singtel Innov8. Clear co-founder and CEO Gal Hochberg said what the company does is take business contracts and convert them into digital form, commonly known as smart contracts. [2020/2/6]

Finally, there is the innovation of its token model. Synthetix must ensure that its 750% mortgage rate remains unchanged (equal to sUSD assets) when obtaining income and recovering assets. This means that if the price of the previously mortgaged SNX falls, the mortgager will It is necessary to buy more SNX in exchange for equivalent sUSD, which virtually provides price protection for SNX.

In addition, Synthetix's LP liquidity reward design is even more superior. It allows users to add sUSD, sETH and sBTC to Uniswap and Curve pools to enjoy liquidity rewards, which improves the utility of assets.

As soon as these axes came out, the market value of Synthetix rose more than 40 times from the bottom. It is a veritable star DeFi project. Recently, a decentralized asset management platform called dHedge was added to the Synthetix "package". This project was born It can be described as radiant...

About a month ago, Synthetix founder Kain Warwick publicly introduced dHedge for the first time, and the expectation of dHedge can be said to be more joyful than words.

He said, "dHedge is one of the first platforms to fully leverage the power of the Synthetix protocol, and I'm very excited because it has implications not just for the Synthetix ecosystem, but for DeFi as a whole. I can't wait to see what dHedge does in the coming weeks." Or what products will be launched in a few months."

What kind of project dHedge is that fascinated the founder so much, let’s listen to it.

Since the popularity of cryptocurrencies in 2017, distributed digital asset management has entered everyone's field of vision. Different from the opacity and high threshold of traditional asset management platforms, a number of excellent companies have emerged in the distributed asset management industry, such as ICONOMI, Melonport wait.

Take Melonport, founded by Goldman Sachs Vice President Mona ElIsa as an example, which itself is an open source agreement, in which anyone can establish, manage and invest in digital assets. The platform provides transparent performance display and audit tools, as well as modules including risk assessment, compliance management, and KYC. Automating many operations through smart contracts effectively reduces the fixed cost of managing investment portfolios.

dHedge is also a similar platform, but the difference is that dHedge focuses on a fully decentralized asset management protocol. It uses Synthetix's zero-slippage and unlimited liquidity trading model to provide non-custodial simulated transactions for synthetic assets.

So far, dHedge has been sought after by many well-known institutions in the DeFi field, including 16 institutions including Framework Ventures, Cluster Capital, BlockTower Capital, IOSG Ventures, Three Arrows Capital, NGC Ventures, DACM, and Maple Leaf Capital.

Among them, Framework is known as "the promoter of the DeFi Great Leap Forward", and has also been deeply involved in well-known DeFi projects such as Chainlink, Synthetix, and Kava.

It is worth noting that dHedge itself is a protocol, that is, in addition to Synthetix, it may also be connected to other asset management protocols (such as Compound or Aave) in the future, which means that fund managers on dHedge can simultaneously conduct arbitrage or arbitrage between multiple assets in the future. Earn income without worrying about liquidity.

One month after the founder of Synthetix spoke, dHedge officially opened the test network and completed the first phase of the test competition. In just two weeks, more than 650 pools were created, and it was completed under the official low-key and restraint. Because it is still in beta stage.

And now the second round of competition is back in our field of vision, which is the last testnet competition before the official launch of the dHedge mainnet. In addition to the bonus of 125,000 DHT (dHedge’s governance token) and 5,000 SNX, the reward will also include sweatshirts and T-shirts with the dHedge logo.

If you want to participate in the competition in the next 3 weeks, you can follow the steps below: first go to the dHedge official website and click on the link to join the competition; connect your Web 3 wallet (such as Metamask) to the Ropsten test network; click Create Pool and join the competition, and then publish the article Only then will you be eligible to participate in the competition.

It is reported that after dHedge has completed a comprehensive smart contract audit, the mainnet is expected to be put into use in September. In the future, it will include many additional functions. The current testnet only shows a simplified platform, so don’t be fooled by the simplicity of the webpage .

As the popular "spicy chicken" in the DeFi world, Synthetix is already a star-studded existence, but dHedge is the jewel on the head of this "spicy chicken". The blessing of 16 institutions has already made people tremble. The potential is self-evident.

And those loyal fans who are rushing in the DeFi world, why don't you know about dHedge and experience it? After all, no one can guess whether it will be the next hundred times coin...


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