Summary: The cryptocurrency market returns to rationality, BLW is ready to go!
The cryptovurrency market is detonated by DeFi this summer, but this is just the beginning.
Since 17 July this year the DeFi platform Yearn.finance’s YFI online, just a few days time, YFI from $300 pulled up to $4,500, the highest peak of $44,000 is 4 times over the same period the price of BTC’s $11,600. The lock-up volume of YFI exceeded $1 billion, the highest peak reached $1.323 billion, and the transfer fee on the Ethereum chain reached a record high of $500,000 .
YFI's soaring price has completely released the long silent blockchain market, along with the birth of Uniswap , Corn , Sushi and Kimchi series of DeFi star eco- landing , an outbreak of a new round of "tide of farmers" . Up to now, the lock-up volume in DeFi exceeded $11 billion.
However, what we cannot deny is that after many DeFi projects reached a certain lock-up volume in this carnival, the disadvantages of the ecosystem gradually became apparent, such as the MakerDAO "0 DAI liquidation" event, the huge cash out of the founder of SushiSwap, and the unlimited additional issuance mechanism of SUSHI ...The bottleneck exposed by this series of DeFi projects has forced the original frenzy of DeFi liquidity mining, like a basin of cold water to gradually return the market to rationality, but at the same time, the market is also looking for (creating) more sound The DeFi ecological platform, and BLW gradually gained more attention.
BLW, accumulate and develop, only for better DeFi
BLW (full name Blue Whale) is a digital asset financial protocol based on blockchain system integration. Its business system includes a decentralized stablecoin system protocol created on EHT, and a tokenized protocol composition of lending and transaction system protocols .
In fact, as early as June 2020, the BLW team began to work on building the underlying code of BLW. Although the DeFi market was unprecedentedly hot in July , the founding team did not forget the original intention of the platform- to provide users all over the world with safety and tolerance. , Innovative and transparent integrated digital asset financial services, instead of prematurely intervening in the market and experiencing a short run . After long-term strategic planning and prototype verification, an application security system with a complete logical closed loop was proposed and implemented to protect application data and user assets from all directions and levels.
The BLW team proposed an upgrade concept based on DeFi - COFi (Encrypt open finance), which is translated into Chinese as encrypted open finance. The BLW team believes that DeFi (Decentralized Finance) is only an integral part of the COFi application. COFi is based on the concept of DeFi , but it is not limited to the imprisonment of DeFi . Decentralization is the core and the foundation, but it is not the only one. And all. An open financial application with good scalability and capable of coping with the tens of millions of users that may exist in the future, safe and reliable with complete risk control capabilities, cannot be successfully built if it only relies on decentralized infrastructure. As the first implementation project of the COFi concept, the security system of the BLW platform boldly made some breakthroughs and innovations.
"Revolutionary Army" of CoFi technology components protects and escorts
In order to cope with the traditional challenges in the development of ETH DApp, such as difficulty in contract upgrades, fixed data structure, slow interaction on the chain, poor user experience, lack of necessary infrastructure and security issues, BLW proposed three COFi technical components: basic components, extensions Components and financial components, which together constitute the COFi "revolutionary army" . In order to achieve the level of development and upgrading of Internet financial products, as well as the user experience of ETH financial DApps, while maintaining their security.
Basic components: APEC, namely Assets Protected Elastic Contracts, an elastic smart contract for asset security.
Extension components: BEAMS, namely Blockchain Enquiring, Auditing & Messaging System, blockchain query, audit and messaging system.
Financial components: GEL, GloBLW TokenEmergency Lockdown, global emergency lockdown; CALM, Cooperative Automatic Lockdown Mechanism, cooperative automatic lockdown mechanism; MAK, Multisig Admin Keys, multi-signature administrator key.
Tokenized protocol meets the needs of multiple parties
At the same time, in order to meet the needs of different users for various encrypted digital finance, the BLW team based on the "Revolutionary Army" COFi technology components, the first tokenization protocol-BLW Finance, consisting of BLW Bond, BLW Bank and BLW U+XX.
BLW Bond : Bond financing agreement, fixed-term, fixed-rate digital currency lending services;
BLW Bank : currency lending protocol, an algorithm-driven current and variable interest rate token deposit and lending service;
BLW U+XX : Decentralized stable currency protocol, committed to becoming an influential stable currency project in the encrypted digital field. BLW stable currency U+XX can be used to invest in BLW Bond, or it can be deposited in BLW Bank to earn interest, forming an aggregation effect To promote its development.
Tokenization protocol-BLW Finance combines bond financing agreements, currency lending agreements and decentralized stable currency agreements to form the BLW crypto-integrated digital asset financial service platform, which provides crypto asset investment, financing and transaction services for individuals and business users .
Ecosystem tokens feed back the healthy operation of the ecosystem
In order to promote the sustainable and healthy operation of the platform ecology, the BLW team issued the platform ecological token BLW Token (BLW for short) to attract more people to participate and promote the platform's ecological construction for more long-term stable and efficient operation.
At the same time, in order to protect the absolute rights and interests of token holders , only 41.34 million BLWs of the platform ecological tokens will be issued. The specific distribution rules are as follows:
250,000 (0.6%) : held by 50 community nodes, locked for 3 months, and then released linearly in 3 months after 3 months.
2 million (4.8%) : private placement, linear release within 3 months.
4.134 million (10%) : held by the foundation and technical team, released linearly in 4 years.
34.956 million (84.6%) : Will be written into the reserve contract, which will be transferred to the agreement at the rate of 1 token per Ethereum block for the distribution of liquid assets and borrowers as rewards.
Participants can not only obtain BLW rewards by participating in community construction for liquidity mining, but also use the BLW they hold to jointly build community ecosystems, including but not limited to BLW ecosystem governance and incentives, developer community construction, business and Industrial cooperation, marketing promotion, academic research, education investment, laws and regulations, etc. In addition, it also has participation in BLW bond rating voting, participation in U+XX stability adjustment, participation in U+XX global debt auction, and participation in management industry governance
And other related rights. Participate in community building process, 34,956,000 BLW all through liquidity mining output, in order for this to attract more builders involved, so as to achieve per capita amount of absolute deflation, holders of assets steadily implement community BLW substantial value.
Responsible for the strength of the operation team
In the blockchain industry, even in any industry in the world , in addition to the core technology, the development level of a project is extremely important, and it may even determine the life or death of the project. According to BLW official information, the BLW operation team is strong.
Its platform founder Kessara Kieng graduated from Cambridge University , after graduation, he has worked in Goldman Sachs, the investment in gold and other investment institutions, proficient in the primary market capital operation and management of financial products, successfully invested more than 20 Duo blocks chain project , as well as Founder of ZPOOL mining pool.
Its Chief Operating Officer David Borjiking serve as international co-president of the Association of Finance distributed , for distributed academic research finance nearly six years, has accumulated a wealth of industry experience, fluent in English, Russian, Mongolian, Chinese, while Russia is also incumbent Bristol Special Economic Adviser to the President of the Republic of Atlantis, Tuva, Russia and Mongolia.
Technical Director Charles Wong graduated from Harvard University, entered the blockchain world in 2013 and created a famous BTC project; PhD in cryptography; blockchain architect/full-stack engineer; proficient in C\C++, JavaScript, Golang, Linux; worldwide Senior research expert on centralized and decentralized blockchain asset trading platform.
At the same time, it is understood that the BLW team is rich in industry resources and has successively signed investment cooperation intentions with dozens of international investment institutions such as Contents protocol and TechStars to jointly deploy BLW ecological construction.
Only after the tide faded, we will know who is swimming naked, although this former DeFi enthusiasm has subsided, but several hundred years Centralized Finance (center of finance) in terms of relative, but now they just only just starting. Fortunately, the BLW team resisted the temptation, witnessed the reincarnation of the DeFi "bear and bull" with their own eyes , and concentrated on the platform technology and operation mechanism. Now the market just returns to rationality, and the next wave of market is brewing .