Math Show: Chatting with the teams of DEGO, BurgerSwap and the stablecoin protocol QIAN about the BSC ecology
Original title: "Math Show #016 – BSC and its friends"
Original source: Wheat Wallet
At 6:00 pm on November 26th, Math Wallet held the 16th issue of Math Show. We were honored to invite Damien from DEGO core team, Co-Founder & COO at Burger Ryan Fang, Architect of QIAN Lei Yu, guest host, Zhang Shuhao, executive editor-in-chief of Rhythm BlockBeats, the theme is "BSC and its friends".
The following are highlights from the evening:
Damien: I am very grateful to MathWallet for providing this opportunity. MathWallet is the most advanced wallet team in the industry, and I am honored to share it here.
The blockchain has no "walking legs" due to the lack of effective applications, and its financial infrastructure is overdeveloped, such as wallets and exchanges. We have seen that DeFi has become a recent hype, which will only prompt people to speculate. So DEGO.Finance wants to create something that meets the needs of users, while turning the obscure blockchain into a simple but interesting application.
Powerful application that are only a few clicks away. Powerful application that are only a few clicks away.
Users only need to use applications and do not need to perceive the blockchain, just like users cannot perceive the Internet. So far, the most prominent and realistic problem we have solved is "NFT Utility".
NFT is now seen as digital ownership of art, digital ownership and nothing more, but does it have any meaning beyond that? We provide mining, auctions and transactions for NFT, but its utility is not just about ownership.
Quoting a sentence that our team and the famous blockchain scholar Mr. Tang Han said: NFT is a non-standard asset in the blockchain world, and it can also represent Non-standard assets in the real world, non-standard assets can be exchanged for standard assets, and NFT is decomposed into FT.
So what is the value of NFT in the blockchain now? It is nothing more than trading and looking at the aesthetics and mood of traders. DEGO's NFT has an intrinsic value. There is a concept in finance, intrinsic value. To put it simply, each NFT is technically locked into some tokens during the casting process, so that it has a face value par value. DEGO was a very DeFi project before, but now DEGO is a fusion reactor of NFT + DeFi.
We do two things:
1) An independent but open NFT ecosystem to attract users into the blockchain space, in Anyone there can issue NFT, start mining, auction, trading, etc. ~ NFT life cycle.
2) NFT protocol, as a cross-chain two-layer infrastructure, is used for user acquisition of blockchain projects, Token distribution and more diverse NFT applications.
Zhang Shuhao: Please share with Co-Founder & COO at Ankr Ryan Fang next.
Ryan: BurgerSwap is the first native AMM to appear on BSC. The core lies in the governance of the community and original voting. Everything is for the Burger service of the token itself , Whether it is transaction fees, voting staking, or various ecological projects, ecological projects include Fries French fries. French Fries is an aggregator project that allows everyone to farm various pools on BSC; 7up Hedy is a FileCoin loan to meet the needs of various miners; Coke Cola is an LP token loan to help everyone increase leverage mining; Burger, 7up, Fries, Coke formed the Fast Food Alliance to help everyone implement various functions on the BSC. Soon Burger will cooperate with ecological projects to bring all functions together to give everyone a more complete experience.
We think BSC is a very powerful chain, backed by Binance, the future is unlimited! Everyone is welcome to come to Fast Food Alliance to play together and give more opinions. Recently, we will also work with ecological projects to try to attract more traffic on ETH and integrate everything together.
Zhang Shuhao: Finally, our QIAN architect, Boss Lei Yulei, will share with you.
Lei Yu: As a purely community project, QIAN Stablecoin Protocol is committed to establishing an all-round stablecoin system, ensuring that anyone can generate legal tender in various countries anytime, anywhere An encrypted digital token with stable value as a pricing standard.
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QIAN: Same as "dry" and "money". In the "Book of Changes", Qian Gua represents the sky, represents the law of the universe, and is the most noble positive energy and spirit. The Qian hexagram represents more yang energy, strong yang energy, and strong yang energy, which is called health. Tian Xingjian can keep moving forward and spreading outward. This kind of creativity is because it never stops, which symbolizes the continuous innovation and driving force in the DeFi field. Following this important meaning, we named the first fully community-owned encrypted digital stable asset protocol as QIAN.
KUN: Same as "Kun", Kun symbolizes the earth and carries all things. People work and cultivate based on the land, and Kun symbolizes the rule of man. KUN is the governance token of QIAN stablecoin, which is used to vote on QIAN ecological governance and maintain QIAN price stability.
The business logic of QIAN refers to and borrows from MakerDAO, and is the world's first A stablecoin protocol that introduces a "volatility index". In the near future, QIAN will be able to ensure the security of user assets in the face of fluctuations in the digital asset market, and at the same time allow the DeFi protocol to truly return to the essence of "decentralization".
The above two pictures, It is the basis for calculating the volatility of QIAN.
Another advantage of QIAN is that it can On a network with low GAS consumption, try a more complex smart contract design, such as the smooth liquidation of multiple debt positions mentioned in the above figure, which may be realized on the BSC network.
QUSD is the first stable currency of the QIAN system. At the peak, the cumulative circulation of QUSD on the BSC network has exceeded 30 million.
Relying on the strong ecology of the BSC network, QIAN has cooperated with many high-quality projects With cooperation, the usage scenarios of QUSD will be expanded.
The total circulation of the governance token KUN is 12 million, no pre-mining, no private placement, no team allocation, 100% distributed through mining (including coin mining , LP mining and governance mining, etc.), ensuring that all stakeholders can fairly participate in the ecological construction and governance of QIAN.
At present, users with more than 100 KUN can initiate a new QIAN Governance Proposal (QIP, QIAN Improvement Protocol). We also released the QIAN Community Governance Convention, and gradually formed an active DAO community through the active participation of KUN holders.
By introducing functions such as flash loans, the QIAN system will have long-term income and provide continuous support for the value of KUN. In the future, QIAN will also expand in the direction of NFT Explore and expand the usage scenarios of KUN.
Currently, QUSD supports the above mainstream assets for minting on the BSC network, and In today's slumping market, there has not been a large-scale liquidation, which proves the reliability of the QIAN system and the BSC network.
Finally, I will talk about the mining of QUSD and KUN.
In the BSC ecology, KUN token mining can currently be carried out through minting, Equator liquidity, Pancake liquidity, bStable liquidity, Unisave liquidity, etc.
We will also actively expand the usage scenarios of QUSD, in addition to In addition to mining KUN, community members can also use QUSD to mine more tokens.
Currently, there are already 4,968 addresses on the BSC network that own QUSD. More users are welcome to pay attention to and use it. It is very convenient to operate through the Math Wallet.
Thanks to MathWallet for launching the QIAN project overview this week, It is also convenient for more users to understand QIAN. Welcome to mint and mine QIAN, thank you!
Zhang Shuhao: Thank you very much for the sharing of the three guests. It can be seen that BSC still has considerable potential. Next we enter the second part. The first question is for the three guests. As a BSC track, how can it give more value and attract more users to join?
Damien: Many people have asked me and the core team about our choice for the recent release of BSC DEGO. I explained it many times, and I explained it again, "Why choose BSC, not EOS, Tron, Solana?"
For DEGO, user experience is the most important of. The biggest complaint we come across is expensive gas, which is an inherent flaw in Ethereum. With a small development team, we can't just deploy on multiple chains. The Alameda team really offered us the opportunity to integrate Solana, which we appreciate as Alameda and its affiliates have the best professional support. Because we have a very clear roadmap and exciting products to deliver, in our opinion, for "Dapps" like DEGO, BSC is the best choice, faster integration, and lower GAS. As of the end of last month, there are 23,526 real NFT addresses on ETH, 30,810 real NFT addresses on BSC, and DEGO is the project with the most real NFT addresses on ETH and BSC.
On BSC, DEGO brought many of his users to migrate to BSC through multiple airdrops and cooperative mining activities with BSC ecological projects. BSC is the leading network for DEGO to release products and optimize user experience. We have released a complete set of DEGO NFT management suite, NFT Foundry (casting), NFT Auction (auction), NFT Market (trading market), NFT Stake (mining), Among them, NFT Market is the only comprehensive NFT trading market on BSC.
Ryan: We think BSC is a very large potential ecology, and the original Binance Chain has many assets and cross-chain assets. For a Swap, assets are the most important. BSC is very fast and easy to use, and at the same time it is very similar to ETH, making it easy for developers to develop. The focus of Burger in the next stage is to attract more ecological projects and attract more ETH/Sushi/Uni users.
Lei Yu: As a track, BSC attracts users. In addition to ensuring that the BSC network operates as decentralized as possible and improving the security of the network itself, it is more important to The most important thing is to have high-quality projects issued on the BSC network, and these projects can get a certain degree of support from Binance.
At this point, QIAN has stepped on some pitfalls. We can guarantee the quality of our projects and the smooth operation of the code, but it is difficult to screen out the problems of our partners . Therefore, I also hope that BSC can improve the ecology of developer incentives and attract more excellent project teams to settle in. In the early stage of BSC development, how many excellent project teams can be attracted determines how many users will participate in it. Constantly distinguishing between the false and the true on projects and developers, and the survival of the fittest, I believe that an excellent ecology can be created and truly attract the support and participation of a large number of users.
Zhang Shuhao: Damien, what is the product matrix of DEGO?
Damien: Just answered, this is our product matrix, NFT Foundry (casting), NFT Auction (auction), NFT Market (trading market), NFT Stake (mining), this is an open system, anyone can issue and mint their own NFT, and complete subsequent auctions, transactions and other functions in one stop. We just updated NFTmarket V2 and first released it on BSC , to facilitate users to better trade NFT.
Next we have a secret project, which will be announced soon, to better support artists, help them monetize and support public welfare. Then there is the highlight of the protocolization of the DEGO project. We will launch a complete set of NFT standards, hoping to bring innovation to the industry and stimulate the possibility of more application creation.
Zhang Shuhao: Ryan, since Burger was launched, its innovation ability and community influence are good. I would like to ask if there are any new products to be launched next?
Ryan: As mentioned earlier, our ecological projects 7up, french fries, and Coke are all powerful empowering products. In the future, we will work with ecological developers to develop All of these come together to make a better product. In addition, there will soon be ecological projects that will also empower Burger on the ETH network, so please pay attention!
Zhang Shuhao: Boss Lei, I think the safety of funds is very important. What work has QIAN done to ensure the safety of user assets?
Lei Yu: 90 million DAI was liquidated on Compound today, everyone knows it? Both ForTube and QIAN have adopted the function of multi-source oracle machine price feeding to avoid the possibility of oracle machine attacks to the greatest extent and protect users' locked assets.
The price of QUSD comes from coinmarketcap, feixiaohao, blockcc. They themselves are aggregated from multiple data sources, and we use these three data sources for further aggregation, so it is very safe, and almost no one has the ability to manipulate these three data sources at the same time.
In addition, the major security incidents in the DeFi field this year have caused Hundreds of millions of dollars in losses.
In the design of QIAN, in addition to the source of the price oracle, we design smart contracts, as well as off-chain reconciliation/multi-signature/emergency shutdown, etc. On the other hand, a lot of security protection work has also been done.
These are reflected in In terms of DeFi product design, the in-depth thinking of QIAN developers. In addition, QIAN's main contract has passed two rounds of audits by Peckshield. Therefore, QIAN's security protection work is relatively comprehensive, and the security of users' assets can be guaranteed.
Zhang Shuhao: Thank you very much to the "show" friends who participated in the Math Show #016 event tonight. The above 3 project owners also let us see the projects on BSC party diversity. I wish BSC better and better, and everyone will develop better and better!
Original source< /blockquote>
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