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Roundtable for the Innovation Conference: Re-evolution—How they "create" and "new" in 2021



Jinse Finance reported on the spot that the "2021 Co-Working·Innovation Conference" hosted by Jine Finance was held in Shanghai on April 11. The theme of this conference was "Innovation and Advancement of DeFi". In the roundtable forum titled "Re-Evolution - How They "Create" and "New" in 2021", Zhang Yitong, business director of Jinse Finance, talked with Vivian, Vice President of AOFEX Business, Jason, Marketing Director of Bizai BitZ, Hu Zhiwei, Research Director of RISnet, Tan Yuan, technical director of Poly Network. Zhang Yitong: Hello everyone, I am Zhang Yitong from Jinse Finance. Let me first introduce myself. Hu Zhiwei: Good afternoon, everyone. It is a great honor to communicate with you. I am Hu Zhiwei. I am usually responsible for the ecological development of the project, external cooperation and early research cooperation. Vivian: Hello everyone, I am Vivian. Our platform has financial derivatives, including DeFi lending. Thank you for your attention to AOFEX. Jason: Hello everyone, I am the marketing director of BitZ. I am mainly responsible for the market and business of BitZ. In the past, BitZ had a relatively low voice in the industry. Starting from me, there will be some A series of actions, all partners in the industry are welcome to participate together. Thanks. Zhang Yitong: The theme of our roundtable today is re-evolution 2021. How do they "create" and "new"? Our guests today are very interesting, representing two factions, CeX and Dex. For the first question, please talk about your views on the reasons for the skyrocketing transactions . 99Ex Strategically Supports Jinse Finance Co-Innovator Conference: According to official news, the 99Ex trading platform and Jinse Finance will further deepen their strategic cooperation and will participate in the "Together for Innovators Conference" held by Jine Finance in Zhengzhou, Henan on August 2. 99Ex As the chief cooperative enterprise, it will fully support the successful holding of Golden Finance's "Innovators Conference". The summit is expected to attract hundreds of practitioners and technology elites from the blockchain and Internet industries, as well as hundreds of companies and projects from the upper, middle and lower reaches of the industry. At that time, 99Ex will bring wonderful speeches, and there will also be special partition booths. All participants are welcome to come and exchange ideas. [2020/7/22] Hu Zhiwei: From my observation, from a technical point of view, blockchain technology and the underlying protocol of DeFi include more and more functions provided to users and more and more perfect , The amount of locked positions and the number of transactions on the entire chain have increased significantly, which is a very intuitive manifestation. Our protocol on the entire chain is relatively complete, and I think it has a negative effect on the enthusiasm and initiative of the entire user. This is what I have observed. Vivian: Entering the bull market, our rapid growth is on the one hand, more people have come into contact with our industry. For the next trend of our industry, I think it will get better and better, because more people in the real economy, including today's traditional finance, are paying attention to our industry. All digital assets represented by BTC will go further and further. Jason: I think there are several points from the perspective of centralized exchanges. The first one is the conversion of bulls and bears in the industry itself, and now it is a wave of bull market, which is a starting point; the second is the entry of large institutions, Musk calls orders, The effect of breaking the circle, Bitcoin is basically considered breaking the circle; the third point is that in the big environment, the economic policy under the epidemic situation is relaxed, so there is a certain demand, and the overall transaction volume has skyrocketed. Total for 2020 | Shentu Qingchun, CEO of Yinlian Technology: It is difficult for digital currency to reflect the application value in the business circle: Jinse Finance live report, June 21, 2020, hosted by Golden Finance for 2020·Blockchain innovation application The forum kicked off in Shenzhen. Shentu Qingchun, CEO of Yinlian Technology, gave a keynote speech on "Public Chain Strategy under the New Infrastructure" and pointed out that we should reflect on the functions of digital currency: 1. Digital currency has a financing function, which is easy for start-up companies to raise money; 2. Digital currency is in the It is difficult to reflect the application value in the business circle, and it is necessary to maintain the currency price stability for a long time, and constantly add new functions; 3. The digital currency is traded on the exchange, and the start-up company is turned into a "listed company" prematurely, and the focus is shifted to currency price maintenance and responding to investors, rather than technological progress and application landing; 4. "Investment from equity + donated currency rights" model, the currency circle is used as a means of returning the investment funds, and there is equity dragging down. After two years or more, Only when there are users and the application is implemented can they go to the exchange. [2020/6/21] Tan Yuan: Under the general environment, the Federal Reserve is relatively open. Unlimited QE released a large number of financial assets, resulting in a very large increase in the market. Many asset management companies invest a small part of their assets in digital currency. Therefore, the asset increment of the overall digital currency is very large, which leads to a skyrocketing transaction attribute. All innovative on-chain DeFi such as lending and financial derivatives will also promote the development of many creative applications on the entire chain. Zhang Yitong: Starting from your own roles, what changes have you seen in the trading market? For example, our two CEX representatives, explain how to capture users in derivatives, and our cross-chain DeFi representatives can talk about the current situation when entering the market from the perspective of decentralization? A total of 2020 | Ministry of Industry and Information Technology Xiang Lipeng: Domestic blockchain relies on foreign open source projects for key technologies as high as 70%: Jinse Finance live report, June 21, 2020, hosted by Jinse Finance for a total of 2020 Block Chain Innovation Application Forum kicked off in Shenzhen. This conference is sponsored by Beanheli Technology, with HBTC as a strategic partner. Xiang Lipeng, a senior engineer at the Fifth Institute of Electronics of the Ministry of Industry and Information Technology, gave a keynote speech on "Layout: Blockchain Technology and the Road to Application Market" and pointed out that as of June 2020, more than 1,000 domestic active-zce companies have actually registered for alliances. 94, concentrated in Beijing, Shanghai, Shenzhen, Hangzhou, Guangzhou and other places, the industrial chain of blockchain hardware, platforms, applications, and consulting has been initially formed. Judging from the geographical distribution of blockchain companies, China's blockchain companies and project financing are mainly concentrated in Guangdong, Hong Kong and Macao, the Bohai Rim, the Yangtze River Delta, and the Shaanxi, Hunan and Chongqing regions. At present, it seems that the development of the blockchain industry still needs to be cultivated. It is difficult for upstream and downstream industries such as blockchain-related investment consultants, media, consulting, and technical services to make profits. Eventually, a blockchain industry will be formed. Time proves. Domestic blockchain technology has a high degree of dependence on foreign open source projects. According to incomplete statistics, the degree of external dependence on core technologies and key technologies is as high as 70%. Domestic blockchain applications have been explored more, and the types are far more abundant than foreign countries. However, due to the lack of research and development funds and the dislocation of talent capabilities, continuous innovation is weak. [2020/6/21]Vivian: I think that in the next industry, decentralization and centralization must exist in parallel. Centralized exchanges have more user services, experience, and feedback, while CEX has more attributes for user services. For us, we pay more attention to the user experience, including our derivatives, such as AOFEX derivatives are options, contracts, mining, DeFi, etc. Next, we will pay attention to the development of the ecological chain, more is Design derivatives around the needs of customers. Total for 2020 | Karen Zhang from Behelix: HBTC public chain is committed to becoming the infrastructure for building blockchain finance: Jinse Finance live report, June 21, 2020, hosted by Golden Finance for Total 2020 Block Chain Innovation Application Forum kicked off in Shenzhen. The conference is sponsored by Beanheli Technology, and HBTC is a strategic cooperative enterprise. Karen Zhang, Global Marketing President of Behelix Technology, gave a keynote speech on "How to Power the Public Chain under the Background of New Infrastructure" and pointed out that HBTC Chain has three functions: to promote the interconnection and mutual recognition of the bottom layer of the public chain, effectively expand the market depth, and enhance the stability of the system ; Construct a transaction ecology that is completely decentralized to ensure asset security and privacy protection; support all DAPPs that need to interact with blockchain assets to be developed on the HBTC chain. HBTC Chain will be open for public beta soon, and the core function will be to empower various mature public chains through decentralized custody, realize cross-chain interoperability of public chain assets, and promote the ecological improvement of decentralized lending, DEX and other applications. Committed to becoming the infrastructure for building blockchain finance and creating more value together with industry peers. [2020/6/21] Tan Yuan: Let me talk about the current situation of DEX on the chain. The current situation is that 70%-80% of DeFi is concentrated on Ethereum. The core problem of Ethereum is that the handling fee is very high. Expensive, and the waiting time for the second operation is relatively long. This leads to public chain projects similar to HECO absorbing the remaining traffic from Ethereum. Why is it the exchange public chain, not other public chains? Because the exchange public chain has a unique advantage over other public chains. When the cross-chain technology is immature, the application on the exchange public chain does not have to worry about the volume. level, a large number of users are locked in the exchange. Co-For the 2020 Blockchain Application Innovation Conference (Shenzhen) opens today: Sponsored by Golden Finance and title-sponsored by Biheli Technology, the "Co-We 2020 Blockchain Application and Innovation Conference" opens today! The conference will be held at the InterContinental Hotel in Shenzhen Overseas Chinese Town. With the theme of "Blockchain Application Innovation", it will discuss the implementation of blockchain applications, technological frontiers, industry trends and hot issues, and empower blockchain ecological innovation. The conference lasted all day on June 21, with keynote speeches, round table dialogues and other sessions, to conduct in-depth discussions on 10 hot topics in the four stages of industry insight, breakthrough, innovation, and beachhead. At the same time, the exhibition gathered many companies. Ask about the future of the blockchain, the industry's vision for the next decade of the blockchain, the voices of the blockchain that you want to hear, and the top projects and applications of the blockchain that you are looking forward to are all here. [2020/6/21] Hu Zhiwei: From now on, looking at the opportunities in the entire market or the entire industry, in addition to business innovations, in terms of DEX or on-chain business, I have observed a few The relatively large direction, the first one is the transformation of the original AMM model, lowering the slippage or preventing robots from running ahead, preventing scientists from running ahead and making efforts to make the user experience better. This is a direction. Another aspect is the cross-chain aspect. We have seen that many projects focus on how to realize the liquidity of assets between different networks. This is a very important topic, and cross-chain can solve the above-mentioned difficulties very well. Let’s look back at last year. From March to April 2020, everyone was discussing whether cross-chain is a false proposition, and whether it is really necessary. We saw that most institutions were on Ethereum, but this year is not a big one. The problem, the problem is mainly focused on how to achieve cross-chain, this is what we need to solve more, there are many opportunities in this area, our project itself focuses on this field, I believe that in the future, it will give users a very smooth experience. Jason: The first question is the changes in the trading market. I think you can see that this time the entire market is blooming everywhere compared to the last wave of 17 years. The last wave was a bull market due to the rise of Ethereum. But this time you will find that there are many factors in it, whether it is the halving of Bitcoin, or the cause of the epidemic, or the loose policy, or whether we will have DeFi, DEX, or NFT. Maybe NFT will explode in the future, a series of things For this industry or for the few users in the circle, we have this feeling from the perspective of a centralized exchange. The second question is that centralized exchanges and decentralized exchanges are in a state of mutual integration or parallelism, because in essence, the transaction volume of decentralized exchanges has soared in the past period to solve some problems, such as Speaking of its AMM, its liquidity mining does solve some problems, although there is a gap with the centralized exchange experience, we are different groups of people providing different values. Zhang Yitong: Regarding the design model of AMM, there have been heated discussions recently, and the function of placing orders will be launched soon. The market says that the centralized design follows the example. Do you think it is a step forward or a step backward? Vivian: I am in operation. Regarding the user experience and the overall operation direction, but in my perception of AMM, I am not as professional as a technical master, but in my perception, I think he is a very innovative one. However, for ordinary users, it has a drawback, which is my personal feeling. It is not like a centralized exchange that has a lot of high-level commissions, and some inactive teams use this technology to benefit users. It is mostly used for liquidity mining, but it will also attract a lot of hackers who make some articles on it to take advantage of users. I think this has disadvantages. If this disadvantage is solved, it may go well. In the longer term, I think he will provide more liquidity and the participation of users will be stronger. Zhang Yitong: Vivian challenged the two technical masters, please answer. Tan Yuan: In the development of the blockchain, the decentralized exchange was also an order model in the early stage. Why didn’t it rise? It is not suitable for the blockchain itself, because the depth is too shallow, and some blockchains have relatively slow performance, such as Ethereum. An order like this has been placed up for half a day without a transaction, which gives users a very poor experience. First, the AMM model was launched, which was not developed in the early days. Later, the work of liquid mining was combined to introduce a large amount of funds into it. Its benefits are convenient to realize one-click exchange, and users do not have to wait for half a day. For the swap between two assets, I convert my asset into another asset within a certain level, but I need to endure slippage. User slippage is relatively high, which is not very friendly to LP, and optimization is a good way. The mode that provides the pending order function provides liquidity at different stages and in different LP intervals. Hu Zhiwei: Let’s zoom in, or take a long-term view, the earliest AMM model has been developed step by step. I was not very optimistic at the beginning, but now I have been slapped in the face. Because its model is very simple, the entire AMM model and technology are constantly developing, which is very critical, and it can give users the experience they want, such as the liquidity we provide within a certain range, and my participation Transactions, which I do in this area, are equivalent to giving users more experience, which is the progress of the entire industry. In many scenarios, including trading scenarios, I think the order book model is necessary and rational. I think it would be better if more choices were given to users. Jason: I made a wallet in 18 years, and I was not very optimistic at the time. Later, I found that this concept was in line with the development trend of decentralization. In the past, decentralization was solved through order books from the beginning. I provide a fund pool, users can come to trade, and provide liquidity to share dividends. DeFi has exploded in the past year. If it turns out that our discussion of AMM is retrogressive, it will slap the entire industry in the face.


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