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Interview with partner Jiuer: Using innovation to break through the DeFi imagination space.How became the biggest winner in the boom



In today's market, DeFi can be said to be in full swing. According to the special data of DappBirds DeFi, the multi-dimensional data of the DeFi sector rose sharply last week. The circulation market value of DeFi Token rose by more than 29% in a week, and the unit price of YFI exceeded 30,000 US dollars; the locked assets of SushiSwap (SUSHI) reached 700 million US dollars within 3 days of its launch , the price increased by nearly 1000%, and it was further popular in the market after the first launch of, with a maximum increase of 180% in 24H; YAMv2 broke through $46, with a maximum increase of 96.84%; DEX transaction volume continued to increase, and Uniswap single-day transaction volume broke through 500 million U.S. dollars, surpassing the Coinbase centralized exchange for the first time. Many exchanges have launched DeFi zones one after another, vying to be the first to control and then launch DeFi assets. However, the failure of individual projects has also caused investors to suffer considerable losses. Facing the turbulent tide, how should the exchange respond? Is DeFi Just an Excessive Carnival Bubble? In this regard, Jinse Finance interviewed partner Jiu Er to gain an in-depth understanding of the layout planning of the established exchange that has been in operation for 7 years under the DeFi boom. Thinking coldly under the upsurge, seizing opportunities and seeing risks clearly Jiu’er pointed out that the current DeFi products are mainly focused on decentralized lending, including this DeFi upsurge is the “borrowing is mining” launched by the mortgage lending platform Compound And completely ignited. Borrowing is an important form of promoting capital flow in the traditional financial field, such as bank deposits and lending, to increase the use value of funds. Decentralized lending is a core application that attempts to decentralize the economy. Data: Circle’s USDC circulation decreased by US$1.8 billion in the past week: According to news on November 6, according to official sources, from October 27 to November 3, Circle issued a total of US$3.8 billion in USDC and redeemed US$5.6 billion in USDC. The volume decreased by approximately US$1.8 billion. As of October 20, the total circulation of USDC was 42.1 billion US dollars, and the reserve was 42.3 billion US dollars, including 10.1 billion US dollars in cash and 32.2 billion US dollars in short-term US treasury bonds. [2022/11/6 12:21:49] Similar to banks, users save money and get interest from other accounts intervening in their assets. In this case, however, the assets are digitized, and smart contracts connect borrowers and lenders, enforce loan terms, and distribute interest. This all happens without the need to trust each other or have an intermediary bank, democratizing the whole process. Moreover, due to the transparency of the blockchain, by reducing middlemen, lenders can achieve higher returns and have a clearer understanding of risks. In DeFi, lending is very popular. At present, some concepts of DeFi itself can not only create a new model, but also can be combined with other projects, including compound such as lending and mining, as well as decentralized transactions, stable coins, games, etc. They will be used in the future There is a lot of room for thinking about it, and it can be seen that many DeFi projects are also breaking through the barriers in the circle. Some projects cooperate with the traditional securities field to achieve more convenient subscription and new models under the traditional model. Some projects are also actively expanding the field of DeFi layout. The whole is a very spatial thing. The encrypted media The Block will launch a tokenized paywall: On August 25, the encrypted media The Block will launch a tokenized paywall (paywall), allowing consumers to purchase multiple media or creators through a unified set of tokens subscription content. Among them, when users click on the paywall on The Block website, they can "mortgage" or temporarily submit a certain amount of tokens to access the content-ethexc of the website, and each participating subscription media or creator can stipulate users according to their subscription costs. The minimum amount of tokens that must be staked. For subscribers who don’t want to convert their payments into tokens, they can still pay for their credit card subscriptions through The Block’s old domain; The Block will initially apply a tokenized paywall to approximately 20% of articles published on its site, Eventually hope to expand the paywall to all content, but it may take 5-10 years to achieve that goal. [2022/8/26 12:49:12]Although he is very optimistic about the future development of DeFi, in the face of the upsurge sweeping the market, Jiuer still maintains calm thinking. Jiu'er said that there are many people who want to be "the first to eat crabs", but due to various reasons such as technology and team, there are still many immature projects that need to be improved. Today, the facelifted YAMv2 has once again been sought after by investors with an increase of up to 96.84%, but the failure of the v1 era to collapse in just 37 hours still has lingering fears in many people's hearts. For such popular projects, has always maintained a high degree of attention, adhered to the openness and transparency of information, and promptly informed users of the latest project developments and price fluctuations. Data: In the past 24 hours, nearly 300 million US dollars have been liquidated on the entire network, and 154 million US dollars have been liquidated on Ethereum: Jinse Finance reported that, according to Coinglass data, the liquidation of the entire network in the past 24 hours was 297 million US dollars, of which 154 million US dollars were liquidated on Ethereum. Bitcoin liquidated $88.956 million, ETC liquidated $9.1309 million. [2022/8/13 12:23:29] Jiuer pointed out that many projects currently on the market need to solve technical risks, performance, security, and the current high gas fee on the Ethereum chain. "These are things that need to be faced in development. Many projects will stand out and give very reasonable returns to holders with a strategic vision." itself seems to be one of the "investors" who have a strategic vision and receive reasonable returns. While keeping calm, did not hesitate, but relied on its unique experience to accurately seize a large number of opportunities. On August 30, took the lead in listing the popular asset SUSHI, and on September 1 The first to launch the SUSHI perpetual contract firm offer transaction (USDT settlement), support 1-20 times long and short operations. After being listed on, the price of SUSHI has continued to rise, with a maximum increase of 180% as of 9:30 today, 24H. The development of DeFi requires a good foundation, and it also needs to insist on the role of safeguarding the interests of users. Jiuer believes that DeFi provides a very good form, and the future space is also very large. DeFi is an unstoppable important development direction of the blockchain industry One, many projects will also have the opportunity to burst out their own value, but this opportunity requires a persistent foundation and practitioners to promote it. "Many concepts are very new at present, and the current results are quite impressive, but fundamentally speaking: To become a big tree, you must have a deep foundation, such as stable currency, decentralized lending, etc." Encryption trading platform Blockchain. com will provide users with free NFT domain names: On June 10th, the encrypted exchange announced that it will provide users with free NFT domain names through the NFT domain name provider Unstoppable Domains, and the 83 million users of the wallet will receive the suffix For the domain name of ".blockchain", users can use a simple, user-friendly username instead of a long string of random characters to form a wallet address. In addition, users can also purchase other ".blockchain" domain names or own multiple domain names through Unstoppable Domains. Unstoppable Domains are cast on the Polygon blockchain without casting fees and renewal fees. [2022/6/10 4:17:13] While the DeFi boom is sweeping the market, it has also exposed many problems. Before that, many exchanges rushed to launch YAM and other assets in order to hype the hot spots. The result brought investors Irreparable losses, in addition to the risks of the project itself, the current development of the DeFi field is also facing more "basic" problems. According to data from Oklink, the fee income of Ethereum miners has exceeded the block reward. The average ETH block income is 5ETH, the block reward is 2ETH, and the remaining 3ETH is the fee income. Due to the increase in gas costs caused by DeFi liquidity mining As a result, the fee income of Ethereum miners increased, and the transaction fee for a single transfer once soared to 300Gwei (about 20 US dollars), but the average level remained at about 3 US dollars. In addition, the revenue of Ethereum miners in July was 143.8 million US dollars, a 23-month high, and transaction fees accounted for nearly 23% of the revenue of Ethereum miners in that month. The serious congestion of ETH and high transfer fees have restricted the better development of DeFi projects. The market should not only focus on projects and prices, but should also pay attention to the performance of the underlying public chain. And this point, already has a layout. Web3 social media Metalk Twitter announced that it will start the NFT metaverse basketball game today: Golden Financial News, a few days ago, the world heavyweight boxing champion Mike Tyson announced on Twitter that he will be the ambassador of the Web3 social media Metalk community, and said that he would cooperate with Metalk Let's break the Web2 social media frame together. Today Metalk created a new way of playing NFT and announced the holding of the ALL STAR 2022 Metalk metaverse basketball game. Holders of ten blue-chip projects such as BAYC, CryptoPunks, and Azuki can participate in the game and win airdrops and rewards with a total value of up to 1,000 ETH. Containing 210 ETH, 35 million META and MNS, MNS (Metalk Name Service) is the digital identity of Metalk users, and holding MNS at the same time can obtain the Dialoger - Metalk Genesis whitelist. [2022/4/2 14:01:08] As a high-performance secure public chain infrastructure, GateChain not only has unique features such as secure accounts, reversible transactions, and liquidation mechanisms, but also has a high degree of decentralization and large throughput , The confirmation speed is extremely fast, which has a natural basic advantage for the development of the DeFi ecology. Facing the nearly frenzied wave of DeFi, did not rush to chase hot spots like other exchanges, but adhered to the principle of user first, even if it cannot be launched immediately, it must abide by the strict project review process. All projects launched on Gate must receive strict review according to the [Token Review System]. will evaluate projects from multiple dimensions such as project legal compliance, technical security, project token, actual project progress, and public opinion. Especially for DeFi projects that are highly concerned by users, is even stricter. It does not require the first time to go online, but requires that the online assets be safe and reliable, and shoulder the due responsibilities of the exchange. has built a brand new DeFi ecosystem in the DeFi field, including Gate stablecoin USDG (Stablecoin), decentralized exchange (Decentralized Exchange/Swap), decentralized lending (Decentralized Lending), liquidity mining (Liquidity Mining), GT voting governance agreement (Decentralized Governance), cross-chain solution (Cross Chain), hardware wallet (Fingerprint Hardware Wallet), oracle machine (Decentralized Oracle) and identity authentication (Decentralized KYC). GT will become a core member of this ecosystem, and GT will be used to mortgage stable currency (USDG), reward liquidity mining, governance voting and other ecological core links. will repurchase a large number of GTs to reward the generation of decentralized stablecoin USDG, and decentralized trading liquidity mining and other important links. Through economic incentives, the entire ecological liquidity will be rapidly improved and it will be widely concerned and applied. "In order to avoid causing violent fluctuations in the market, we will not announce the specific repurchase time and quantity, but we will publish the GT blockchain records on the chain when GT is injected into the liquidity bonus pool to ensure authenticity, effectiveness, openness and transparency." Jiuer explained. The diversified innovative product system is the biggest competitiveness of the exchange. The DeFi field has been placed high expectations by the market, and it has also become a new target for the current exchange track competition. For market hotspots, seems to have extraordinary insights As well as the speed of response, one can't help but wonder whether has the "special talent" of the prophet. In this regard, Jiuer said that in addition to adhering to the principle of user first, also attaches great importance to product innovation and richness. While laying out the DeFi market, is also actively developing new products that can help investors make profits and meet the diversified needs of users, and recently launched the grid trading function. Grid trading is a strategy of band arbitrage by buying low and selling high, which can achieve stable returns and is suitable for strategies in volatile markets. The core of the grid trading strategy is to sell high and buy low. The above picture shows the principle of the grid strategy very well. The black line in the figure represents the price trend, and the red line represents the investor's expected price. When the price is lower than the red line, you will buy, and if the price is higher than the red line, you will sell. An experience that can benefit without real-time monitoring of the market. Compared with holding currency and watching, grid trading can also be used as an efficient method of fund management. For a long time, quantitative trading seems to be the exclusive weapon of professional teams, and ordinary investors can only look up to it. In fact, in recent years, the quantification of the currency circle is gradually becoming mature. With the rise of contract derivatives, the quantitative income has also become more rational. While the professional level of investors has improved, quantitative tools are gradually sinking into the market. Some exchanges have begun to launch their own grid trading functions one after another, but most of the functions are relatively basic, and the complicated data settings make it difficult for users who are new to grid trading.'s grid trading has two modes: AI intelligent network and manual advanced network. The manual advanced mode can satisfy experienced investors to set relevant parameters independently, and the AI intelligent network will backtest the income based on the 7-day annualized return The most efficient strategy is provided to users, which is easy to operate and automatically fills in the grid trading parameters. Even users who are exposed to such functions for the first time can quickly get started. Jiuer said that the current DeFi field does give you a lot of expectations, and many exchanges are deploying, but in fact, the competition among exchanges is essentially a contest of product innovation and richness.


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