DeFi 2020 block is one of the biggest dark horse in the field of chain, all kinds of heat DeFi project, the project including star, such as Compound lockups worth more than $1 billion, this is a use block chain intelligence technology contract, decentralized agreement to replace the traditional based on the trust of the people or third party agencies, to build a transparent and open financial system.
As is known to all, the current DeFi mostly depends on the etheric fang intelligent contracts, and based on other male chain is not too much, we are pleased to see based on the X - the birth of DeFi Tezos, they are DeFi do a very good inside, X - the agreement is based on the balance of the agreement on the Tezos DeFi, is used to establish based on the balance of supply and demand change, to algorithm calculated rates of the pool. The provider and borrower of the asset interact directly with the agreement to earn or pay interest.
We spoke with X-Defi's team last week and they are working on a loan agreement for x-Defi's machine gun pool that will be a very important part of x-Defi's financial infrastructure ecology.
We want to have an introductory discussion about X-Defi and what they are doing in order to build Bridges between us and our eco-partners. Let's take a look at the details of this communication.
Edward Behr: How did you come to see the DeFi space?
Adams: Actually, many of our Tezos protocols are prepared for DeFi, such as our Balance Supply and demand Protocol. The architecture was unique and interesting, and the INTELLIGENT contract based on THE ETH was expensive, so we decided to develop X-DEFi.
Edward Behr: That's great.
Tell me about your development. Adams: we build based on Tezos DeFi system, in addition to solve the problem of high fees, and solve the problem of using the threshold, we hope we can lower the threshold of DeFi serve the users, out of the box, without the need for an understanding of the principles behind the complex, our automatic addressing technology will help users find yields the highest node, and then jump in. So that users can automatically obtain higher revenue.
Edward Behr: Which would be better, ETH or Tezos?
Adams: ETH and Tezos have their own advantages. Of course, there are many excellent projects on ETH now. Tezos is also in the sprint stage at present.
Edward Behr: What is your operating model, and have you raised outside funding?
Adams: Yes, X-DEFi is a DeFi project funded by Tezos and the Tezos Foundation, among other 13 organizations, to complement THE DeFi system of the XTZ ecosystem. As Tezos Foundation's first experimental DeFi project, it carries an unusual mission. Currently our promotional subsidies are also funded by the Tezos Foundation.
At present, we set up local operation centers to deepen local operations. For example, users in the United States and China are quite different in usage habits, so we will adopt effective schemes according to local actual conditions to meet the usage habits of local users and carry out differentiated operations.
Edward Behr: Can you talk about your challenges?
Adams: Of course, the main thing is to educate the users. Is to make users understand that we are a what kind of product, our mechanism is how, in the process of internationalization is very difficult, because the country is different, and we can't use too professional terms to give users, professional term belongs to a class, and we hope to make friends with the user, can use their language to understand of our products, in the beginning is very difficult, but we will soon be overcome. Now the user is very satisfied with our model.
Edward Behr: What do you think is the best thing about X-Defi?
Adams: Too many. What I think is unique is our DeFi lending system, which protects your assets from the decline of your digital currency by paying a small fee to insure your assets, which is very unique, and we'll be working on that more in the future. Edward Behr: Now that it's the second half of DeFi, how does X-Defi power? Adams: X - DeFi from building began to put forward the slogan is to build DeFi2.0, we are based on DeFi and beyond DeFi, we will develop the next process after the product, give users more surprises, and the depth of the country, and our customers face to face communication, we always believe only face to face with the user can learn the user's actual demand, to solve the problem of user vital.
Edward Behr: Wow, that's pretty cool, coming from the user and coming face to face with the user and that's what we're doing right now, and I'm going to get your point across, and I'm sure the user will be very excited to see that. We are also glad to keep in touch with you. Thank you very much for your time. Adams: Great. Thank you, too.
