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Looking at the overall situation, in 2018, the domestic game market in South Korea reached 14,290.2 billion won (approximately 12.34 billion U.S. dollars), an increase of 8.7% compared with 2017 (13,142.3 billion won, approximately 11.35 billion U.S. dollars). South Korea's game industry continued to grow during the ten years from 2009 to 2018. Although it declined slightly in 2013 (a decrease of 0.3% year-on-year), it resumed growth in 2014 and maintained its growth momentum until 2018. The Korean mobile game market surpassed PC games for the first time in 2017, and it also occupied a dominant position in the Korean game industry in 2018. In 2018, the sales revenue of the mobile game market reached 6,655.8 billion won (approximately 5.75 billion U.S. dollars), accounting for 46.6% of the total game industry sales revenue. The sales revenue of PC games was 50236 billion won (approximately 4.34 billion U.S. dollars), accounting for 35.1% of the total game industry sales revenue. The sales revenue of Internet cafes was 1,828.3 billion won (approximately 1.58 billion U.S. dollars), accounting for 12.8% of the total game industry sales revenue. The sales revenue of console games was 528.5 billion won (approximately 456 million U.S. dollars), which accounted for the proportion of the total game industry sales revenue from 2.8% in 2017 to 3.7%. In 2018, the sales revenue of the Korean game industry only saw a year-on-year decrease of 12% in the sales of arcade games, while other sales revenues increased year-on-year. However, the growth rate has decreased compared with 2017. In terms of growth rate, only console game sales revenue has maintained a high growth rate for two consecutive years, and the growth rate reached 41.5% in 2018. The growth rate of PC games was 10.6%, the growth rate of mobile games was 7.2%, and the growth rate of arcade games and Internet cafes remained around 3%. In 2018, the export value of the Korean game industry increased by 8.2% year-on-year to reach 6.411 billion US dollars. Imports also increased by 16.3% year-on-year, reaching US$306 million. 1. Game industry trends in 2018 In 2018, the Korean game market grew by 8.7% year-on-year, reaching 14,290.2 billion won In 2018, the domestic game market in South Korea reached 14,290.2 billion won (approximately 12.34 billion U.S. dollars), an increase of 8.7% compared to 2017. South Korea's game industry has maintained a growth trend as a whole, with only a slight decline in 2013, but has maintained its growth momentum after resuming growth in 2014. However, the year-on-year growth rate in 2018 was significantly slower than in 2017.

The scale of the mobile game market reached 6,655.8 billion won, accounting for 46.6% of the total game market In 2017, South Korea's mobile game market surpassed the PC game market for the first time, and the focus of the Korean game industry has shifted to mobile games. In 2018, the scale of the mobile game market continued to account for the largest proportion of the overall game industry. In 2018, the sales revenue of the mobile game market reached 6,655.8 billion won (approximately 5.75 billion U.S. dollars), with a market share of 46.6%, a slight decrease from 2017 (47.3%). The sales revenue of the PC game market was 50236 billion won, with a market share of 35.1%, a slight increase from 2017 (34.6%). The sales revenue of the console game market was 528.5 billion won, with a market share of 3.7%, and both sales revenue and market share increased significantly year-on-year. In the overall game industry, only arcade game halls saw a year-on-year decrease of 12% in sales revenue, while other sales revenues increased year-on-year. According to statistics, in 2018, the share of arcade games was 1.3%, that of Internet cafes was 12.8%, and that of arcade game halls was 0.5%.

Compared with 2017, the growth rate in 2018 has generally slowed down. However, the sales revenue of the console game market increased by 41.5% year-on-year, continuing to maintain a substantial growth momentum. The sales revenue of the PC game market also increased by 10.6% year-on-year, showing a substantial increase. The sales revenue of the mobile game market increased by 7.2% year-on-year, the sales revenue of the arcade game market increased by 3.1% year-on-year, and the sales revenue of Internet cafes increased by 3.9% year-on-year. In 2018, exports increased by 8.2% year-on-year to US$6.411 billion In 2018, the export value of the Korean game industry increased by 8.2% year-on-year to reach 6.411 billion US dollars. Imports also increased 16.3% year-on-year, reaching US$306 million.

From the perspective of various game platforms, the export scale of PC games reached US$3.42 billion, accounting for the largest proportion. The export scale of mobile games was 2.876 billion US dollars, the export scale of console games was 80.93 million US dollars, and the export scale of arcade games was 33.58 million US dollars. From the perspective of import scale, the import scale of PC games in 2018 was 57.18 million US dollars. The import scale of mobile games was US$107 million, and the import scale of console games was US$139 million. The import value of these two platforms has increased on a large scale. The import scale of mobile games has increased by USD 13.44 million year-on-year, and the import scale of console games has increased by USD 40.16 million year-on-year. The import scale of arcade games is USD 2.31 million.

In 2018, among the major exporting countries and regions of Korean games, "Greater China" (Mainland China, Hong Kong, and Taiwan, China merged into the "Greater China") accounted for the largest proportion with a rate of 46.5%. Followed by "North America" ​​(15.9%), "Japan" (14.2%), "Southeast Asia" (10.3%), and "Europe" (6.5%). Compared with 2017, exports to Greater China and Southeast Asia decreased, while exports to other regions increased. The proportion of exports to Greater China fell by 14.0% year-on-year, and the proportion of exports to Southeast Asia fell by 2.3% year-on-year. On the contrary, the proportion of exports to North America increased by 9.3% year-on-year, showing a substantial increase. In addition, the proportion of exports to Japan increased by 2.2% year-on-year, the proportion of exports to Europe increased by 2.7% year-on-year, and the proportion of exports to other regions increased by 2.2% year-on-year.

When looking at the proportions of exporting countries and regions by game platform, among the exporting regions of PC games in 2018, "Greater China" accounted for the largest proportion with a ratio of 54.5%. Then, in order, “Japan” (14.7%), “North America” (13.2%), “Europe” (6.4%), and “Southeast Asia” (5.3%). The proportion of exports to “Greater China” and “Southeast Asia” decreased by 20.3% and 1.4% year-on-year respectively, while the proportion of exports to “Japan”, “North America” and “Europe” increased by 10.1%, 6.3%, and 1.8% respectively. It can be seen that the decline in "Greater China" and the rise in "Japan" are very large. Among the export regions of mobile games, "Greater China" also accounts for the largest proportion with a ratio of 38.5%. Next, they are "North America" ​​(18.4%), "Southeast Asia" (16.4%), "Japan" (13.2%), and "Europe" (5.9%). Compared with 2017, the proportion of exports to “Greater China”, “Japan” and “Southeast Asia” decreased by 5.8%, 8.2% and 0.7% respectively. On the contrary, the proportion of exports to “North America” and “Europe” increased by 11.7% and 1.4% respectively. South Korea accounts for 6.3% of the global game market, ranking fourth in the world in the mobile game market In 2018, South Korea accounted for 6.3% of the global game market, ranking fourth in the world following the United States, China, and Japan. The countries from fifth to tenth are the United Kingdom, Germany, France, Italy, Canada, and Spain. In the PC gaming sector, South Korea ranks second in the world with 13.9% share, second only to China. South Korea has been ranked second in the world in the PC gaming sector until 2016, but was surpassed by the United States in 2017. In 2018, South Korea surpassed the United States again to rise to second place by a very small gap. In 2018, South Korea ranked fourth in the world with a 9.5% share in the global mobile game market, followed by China, Japan, and the United States, but its share is similar to that of China (26.5%), Japan (16.5%), and the United States (14.9%). Big gap. Compared with 2017, China's share in the global mobile game market has increased by 5.8%, consolidating its number one position. Japan's share increased by 0.1%, while the US share decreased by 0.7%. In the console game sector, South Korea's share of the global market is very small. However, the size of the market has been increasing in recent years, and its share of the global market reached 1% in 2018.

880 producers and publishers, 11801 Internet cafes, 676 arcade game halls, and a total of 85,492 employees As of 2018, there are 880 game producers and publishers in South Korea. It is estimated that there are 11,801 Internet cafes and 676 arcade game halls in the game circulation industry. In 2018, there were 85,492 people engaged in the game industry, an increase of 4.3% over 2017 (81932). The number of employees in the game production and development industry is 37,035, accounting for 43.3% of the total number of employees in the game industry. The number of employees in the game circulation industry is 48,457, accounting for 56.7% of the total number of employees in the game industry. In 2018, the number of employees in the game production and publishing industry increased by 6.8% year-on-year to 37035. The number of employees in the game production and development industry has increased on all game platforms, and the number of employees in mobile games, console games, and arcade games has increased by more than 10% year-on-year. However, the number of PC game employees only increased by 0.4% year-on-year. The number of employees in the game circulation industry (Internet cafes, arcade game halls) increased by 2.5% year-on-year to 48,457. Among them, the number of employees in Internet cafes increased by 3.2%, but the number of employees in arcade game halls decreased by 15.1%.

In 2018, the global game market grew by 7.1% year-on-year In 2018, the global game market grew by 7.1% year-on-year to reach US$178.368 billion. All categories including PC, mobile, console, and arcade grew year-on-year. In particular, the mobile game market grew by 10.0% year-on-year, and the console game market grew by 8.5% year-on-year, driving the development of the entire game industry. Following 2017, mobile gaming platforms also accounted for the largest share of the global gaming market in 2018. The scale of the mobile game market reached 63.884 billion US dollars, accounting for 35.8% of the total game market. It is closely followed by console games with a market share of 27.5% and a market size of 45.968 billion US dollars. PC game sales revenue was 32.807 billion U.S. dollars, with a market share of 18.4%. The sales of arcade games are 32.709 billion US dollars, with a market share of 18.3%. It is expected that the sales of the global game market will continue to be concentrated in mobile games in the future, and the market share will reach 39.0% by 2021. Affected by this, the proportion of sales of PC, console games, and arcade games is expected to decrease from 2018. In terms of regions, it is expected that in 2021, the proportions of Asia and South America will increase compared to 2018, and the proportions of North America and Europe will decrease compared with 2018. However, the degree of change will not be too great. It is estimated that in 2021, the share of Asia will increase by 0.4% from 2018 to 21.5%; the share of South America will increase by 0.3% from 2018 to 2.2%; the share of North America will drop by 0.3% from 2018 to 22.3%; the share of Europe will be 22.3% In 2018, it decreased by 0.3% to 48.1%.

2. Game user characteristics Game user ratio According to a survey conducted with ordinary people aged 10 to 65 (n=3037), 65.7% of them have played games after June 2018. Among those who have played games (n=1995), the ones who have played "mobile games" (90.0%) are the most. Then, they are "PC game" (64.1%), "host game" (20.3%), and "arcade game" (11.9%). At the same time, 98.7% of those who have played games (n=1995) use the Internet in ordinary times. When game users go online for purposes other than work and study, the devices they use are "smart phones" (97.1%), "desktops" (66.9%), "notebooks and netbooks" (48.9%) and so on.

29.8% of people answered "yes" to the question "whether to go to Internet cafes more than once a week" for game users. On average, the rate of men going to Internet cafes more than once a week is higher than that of women, with the most people under 30 years old. Among users who went to Internet cafes more than once a week on average, users who answered that they mainly played games in Internet cafes (n=576) asked the reasons for playing games in Internet cafes. As a result, the answer "to get along well with friends or colleagues" (first place: 31.5%, first place + second place: 54.5%) was the highest. However, male users have the highest rate of answering "to get along well with friends or colleagues", while female users have the highest rate of answering "due to high computer configuration (performance)". User ratio of each gaming platform 1. PC games Among the survey respondents aged 10 to 65, the proportion of users who have recently played PC games (after June 2018) is 42.1%, which is 2.1% higher than the 2018 survey (40.0%). In terms of gender, the ratio of men is much higher than that of women; in terms of age, the ratio of users under 40 is relatively higher.

2. Mobile games Among the survey respondents, more than half (59.0%) have played mobile games recently, which is basically the same as the 2018 survey results (59.3%). In terms of gender, there is not much difference in the ratio of male and female users; in terms of age, the ratio of users under 40 is relatively higher than that of users over 40.

3. Console game The user ratio of console games is 13.3%. That is, among the survey respondents, one in ten is a console game user. This is an increase of 2.9% over 2018. In terms of gender, the ratio of male users is higher than that of female users; in terms of age, the ratio of users aged 20-29 and 30-39 is relatively higher than other age groups.

4. Arcade games Among the survey respondents, 7.8% answered that they have played arcade games recently, which is basically the same as the 2018 survey results (7.1%). In terms of gender, there is not much difference in the ratio of male and female users; in terms of age, the ratio of users under 40 is relatively higher than that of users over 40, especially those between 20 and 29.

5. Virtual reality games The proportion of users who have played virtual reality (VR) games is 5.8%, which is basically the same as the 2018 survey results (5.7%). In terms of gender, there is not much difference in the ratio of male and female users; in terms of age, the ratio of users between 20 and 49 is relatively higher than that of other age groups.

3. Expected South Korea in 2019 The size of the game market will continue to grow In 2019, the size of South Korea's game market is expected to grow by 5.1% compared with 2018, reaching 15,017.2 billion won (approximately 12.98 billion US dollars). Although all game platforms in the game production and distribution industry and the game circulation industry predict that the overall industry scale will grow, the growth rate will slow down. Judging from the situation at the time of the forecast, it is estimated that there will be no special expectation or change. However, due to changes in the market, these forecasts may change. In 2019, the size of the PC game market is expected to grow 3.4% over 2018, reaching 5,192.9 billion won. Although the status of PC games in the Korean game industry is far lower than before, judging from the popularity of PlayerUnknown's Battlegrounds or Lost Ark, as long as they can develop fun games, there are still many PC game users. However, the current PC game market is mainly dominated by a few well-known games. If these games experience user separation, the market size will shrink again. In particular, if there are no new popular games by 2021, when PlayerUnknown's Battlegrounds has been on the market for more than three years, the size of the PC game market is likely to return to a downward trend. In addition, Internet cafes are expected to increase and decrease in line with the development trend of PC games. The mobile game market is expected to continue its growth momentum, but the growth rate will be much lower than before. In 2019, the size of the mobile game market is expected to grow by 6.4% year-on-year, reaching 7072.4 billion won. The sales revenue of the popular "Lineage 2 Revolution" or "Lineage 2 Revolution" or "Lineage M" in the past is gradually turning into a decreasing trend. The game industry has reservations about whether there will be new popular games that can restore the aforementioned decreasing trend. The highly anticipated "Lineage 2M (Lineage 2M)" is also considered to be less influential than expected due to the overlap with the user layer of "Lineage 2: Oath" or "Lineage M" that shares IP. Taking these prospects into account, it is expected that the mobile game market will temporarily maintain single-digit growth.

DeFi identifies a decentralized financial agreement implemented using smart contracts, including asset transactions, lending, insurance, various derivatives, etc .; along with credit services, financial services the truth is can all be implemented through DeFi agreements. These agreements are typical decentralized and operate automatically, and there is absolutely no third-party organization to handle and continue maintaining, and so the risk get a grip on of contracts has become a market problem. DeFi gets the dual attributes of finance and technology, and mainly includes the next risks: 1 ) Code risk. Including Ethereum underlying code risk, smart contract code risk, wallet code risk, etc . Like the famous DAO incident of the season, the recent Uniswap vulnerability attack, and different wallet theft incidents were all due to code risks. 2. Business risk. The key reason is that loopholes are left in the commercial design process and therefore are reasonably attacked or manipulated by the others. Like FOMO3D was blocked in the past, or dZx absentmindedly used the non-attack Uniswap oracle, and the price was stolen by reasonable prices. Such people are called arbitrageurs. Arbitrageurs have both positive and negative aspects to a DeFi project. 3. Market fluctuation risk. DeFi lacks some coping variables when designing, that leads to promote overshoots in extreme market conditions. Like MakerDao's performance in 312 is especially due to extreme market volatility risks. 4. The oracle risk. The oracle provides world wide variables and is the basis of most DeFi. If the oracle encounters an attack or goes out of order, the downstream DeFi will collapse. We think that the oracle can be the main infrastructure of DeFi in the foreseeable future. Any oracle with any centralization risk will ultimately die out. **5\. "Technical Agency" risk. ** Mainly identifies ordinary users who are new to smart contracts and blockchains and make use of the "convenient" interactive tool manufactured by a centralized team. This tool itself might be risky. When making any DeFi project, the aforementioned risks ought to be taken into account. The whole process isn't just a reminder in the document, but in addition some risk management methods. These types of methods are performed in a decentralized way, and some are done in a community governance way (mainly identifies on-chain governance). Here we propose a DeFi risk management framework, which will be mainly divided in to before, during and after the big event: Beforehand: It's mainly to execute formal verification of the contract code, including clarifying the strategy, resources and also the boundaries of the directions utilized in the contract, plus the relevance of these methods, directions, and resources in the combination process. There's absolutely no proven method or no Resolutely make use of the combination that finds the boundary. This is not the considering conventional pc software development and testing, it really is a concept that is near to mathematical argumentation. Good contract development ought to be based on a combined mix of methods which were demonstrated. In the case: The big event is especially the shutdown design and the abnormal trigger design, that is, the contract can identify and intervene the attack behavior, including the automatic shutdown design and the management shutdown design. Abnormal triggering is just a get a grip on and management of unexpected phenomena throughout contract operation; abnormal triggering is usually automatic, and some risk management variables are corrected through abnormal triggering. You are able to reference the beta coefficient and anti-blocking attack settings in the NEST oracle system. This is actually the first practice in the industry to take into account shutdowns and abnormal triggers. Post-event: Post-event risk management includes several parts. First, you will find loopholes in the code that want to be corrected, broadly speaking through on-chain governance, that is, DAO governance. Secondly, the governance assets themselves are under attack, and contract forks are needed currently! This can be a blind spot that a ignores. The second reason is to insure the possible risks of the contract through the insurance mechanism, thereby reducing losses. Finally, the community can cooperate with various institutions to track losses through the tracking of data on the chain. Regarding on-chain governance and contract forks, it is possible to reference the style of NEST, which will be an innovation.

Despite a 14% drop in daily transaction volume, Ethereum dapps still led with a 25% increase in May. In May 2020, we gave an overview of the dapp ecosystem and expanded our coverage of the three main dapp blockchains (Ethereum, TRON and EOS) to the current six, including Steem, Hive and WAX. Of course, Steem and Hive are currently in a chaotic situation. Due to the acquisition of the TRON Foundation, the community is split, and many dapps are transferred from Steem to the Hive hard fork in response. At the same time, on the WAX ​​blockchain on May 12, the successful launch of the Garbage Pail Kids collection promoted a wider range of trading activities, especially its market dapp, which subsequently experienced strong growth. table of Contents * Important points

* Ethereum 3.TRON 4.EOS 5.Steem and Hive 6.WAX

* Conclusion 1. Important points. The total value of all tokens interacting with dapps running on these six blockchains increased by 16% to 1.9 billion US dollars. Compared with April, the overall activity in May 2020 decreased by 3%. Among the six blockchains covered in this report, an average of 69,119 active independent wallets interact with dapps every day. High fuel costs have caused Ethereum's daily activity to drop by 14% month-on-month, but the transaction volume through DeFi and exchange dapps is still strong, and the total value in May increased by 25% to $1.2 billion. Gambling Dapps are still the mainstream of TRON. TRON transaction volume increased by 24% month-on-month to reach 131 million US dollars, but daily activity dropped by 15%. EOS dapps performed steadily, with daily active growth of 3%, and trading volume stabilized at USD 616 million. The separation of the Steem and Hive communities continues, with Hive's daily activity increasing by 201%, while Steem's decline by 31%. WAX successfully launched the Garbage Pail Kids collection, which increased the value of its dapp interaction by 601% in May, reaching a total of US$860,000. 2. Ethereum in May 2020 has the biggest impact on dapps running on the Ethereum blockchain is the continued high fuel costs. This is due to the use of the Tether stablecoin on Ethereum, coupled with traffic from four high-risk dapps leading to high-frequency activity. This trend started in mid-April and there is no sign of ending. Obviously, the increase in fuel costs makes every transaction of Ethereum more expensive, which affects the use of dapps. However, not all dapp categories are affected to the same degree. Compared with May, the daily activity of DeFi and DEX dapps dropped by 19% and 14%, respectively, the activity of the gambling category dropped by 26%, and the activity of the gaming and market categories dropped significantly by 61%.

This is important because games are usually the most popular category on Ethereum. For example, in April, it accounted for 42% of the daily activity of Ethereum dapps, but dropped to 23% in May. Overall, compared with April, the activity of all Ethereum dapps in May dropped by 14%, and the average daily active independent wallet was 16,191. In contrast, the total value of ETH and ERC20 tokens interacting with the Ethereum dapp is completely unaffected by the increase in fuel prices. The total value increased by 25% from the previous quarter, from 920 million US dollars in April to 1.2 billion US dollars in May.

In this regard, DeFi dapp is still the most important category, accounting for 60% of the total value in May, followed by the exchange category with 24%. In May of this year, six dapps in these two categories were worth more than $100 million, namely MakerDAO; Compound; dYdX; Uniswap; Kyber and 1inch. The share of gambling and high-risk dapps in the total value increased from 6% to 13%, mainly due to the activity of Hex, a high-risk dapp with a value of US$103 million.

3. TRON Although DeFi dapp JUST continues to grow, in terms of dapp activity, the overall performance of the TRON blockchain still depends on gambling and high-risk categories. In May 2020, it accounted for 85% of the total value of USD 131 million and 75% of the daily average of 18,028 individual wallets.

Similarly, TRON's daily active activity decreased by 15% month-on-month, but its total value increased by 24%. This is because the gambling category has reduced users but increased its value. The main gambling dapps on TRON are still WINk, 888TRON and RocketGame. However, there are 365 active independent wallets on average every day. The total value in May is close to 9 million U.S. dollars, which is an increase of more than 150% compared to April 2020. For JUST (similar to Ethereum's MakerDAO) in the next few years We will wait and see how this month develops.

But more generally, in terms of overall activity, the long-term trend of TRON dapps is still steadily declining, both in terms of daily activity (down 5% year-on-year) or in terms of value (similar to the performance in May 2019). Than 68%). 4. EOS 2020 May is a month of smooth operation for the dapp on the EOS blockchain. The average daily active independent wallet for all dapps is 16,441, an increase of 3% over April 2020. The value of all EOS tokens is US$616 million, compared with US$615 million in April.

In terms of specific dapp categories, there hasn't been much change in terms of daily activity or value. In terms of daily active independent wallets, more than half of the activity in May came from gaming and market category dapps (accounting for 55%), gambling and high-risk categories accounted for 10%, and exchanges accounted for 5%. The month-on-month growth of these three categories is about 10%. However, in terms of value, the exchange category (especially Nexdex) accounts for a higher proportion (75%), and the rest comes from gambling dapps.

As gambling activity has dropped sharply in the past 12 months, exchanges have accounted for an increasing proportion of the total value of EOS, which is a long-term trend.

5. Steem and HiveDappRadar started tracking dapps on the Steem and Hive blockchains in May, so this report is the first to provide data to investigate these two warring communities. In March 2020, community members were dissatisfied with the sudden intervention of the TRON Foundation and launched Hive as a hard fork of Steem. Hive is still in the development stage, but it has obvious early trends. The most obvious is that when high-volume Steem dapps are converted to Hive, they also take away their existing users. Especially on May 27th, Peakd and Hive Blog (two versions of the Steemit blog platform) were released on Hive, which immediately tripled the total number of daily active independent wallets in Hive.

Interestingly, Steem has not shown a similar downward trend; however, its daily activity dropped by 25% in May to only about 7,000 daily active independent wallets, while Hive's daily activity at the end of May There are approximately 4,000 independent wallets that are active daily. This trend is expected to continue in June, when the most popular Steem dapp (Splinterlands game with more than 4,000 daily active independent wallets) will migrate to Hive. 6. The WAX ​​WAX blockchain was launched in December 2019 and was built using the EOS.IO SDK. As a new platform, the WAX ​​blockchain has successfully attracted some EOS dapps to be released on it. This is not surprising, because WAX ​​has some advantages, especially in terms of getting started. Then, its performance in May proved its value as an exclusive content. A digital collection called Garbage Pail Kids was launched, which greatly promoted the development of WAX's dapp ecosystem, especially in the market. The card pack was launched on May 12, sold out within two days, and then moved to GPK.Market, Alcor.Exchange, SimpleMarket, etc., with a transaction volume of more than $280,000 within one week of release. In short, in May of this year, as the Garbage Pail Kids transaction continued after its release, the overall value of Garbage Pail Kids rose by 601% to $859,000. However, despite the continued increase in transaction volume, it is clear that only a small number of users are now active after the release.

The buying price of DeFi tokens is highly volatile, and the valuation could be extremely unreasonable. Binary options can reflect investors' bullish/bearish sentiment on the value of DeFi tokens. Original title: "Science | What is a binary option and what exactly is its use? 》 Published by: Deniz Translation & Proofreading: Min Min & A Jian With great excitement, we will announce a brand new news: The seven-day binary option with COMP token since the underlying asset has become on the web!

Binary options are straightforward and simple to use, so it's a really good financial product for users who wish to speculate on the near future price of assets. In this essay, we will explain what binary options are, what are their uses and how to trade! Binary options can reflect investors' bullish/bearish sentiment on the value of DeFi tokens. What is an alternative? Let's first comprehend the basic concepts. Option is really a kind of financial derivatives. Contract holders do not need to support the underlying asset to savor the chance and reunite brought by the near future price fluctuation of the asset. The principle of options is: an alternative contract allows the client to have the right to buy or sell the underlying asset from the vendor at an agreed price (depending on the type of contract the client holds). Option holders only need to pay a tiny bit of money to make use of future price declines for speculative transactions. For that reason options are a great choice for hedging the risks of spot market transactions (personal purchase/sale of cryptocurrency assets). What are binary options? In conventional financial markets, there are numerous kinds of options to choose from. Like physical delivery options (that is, the underlying asset should be actually bought/sold) and cash delivery options (that is, it's known ahead of time that it will be paid in cash). The possibility income is dependent upon the specific price of the underlying asset when the option expires. The higher/lower the specific price, the higher/lower the counterparty's income. The huge difference between binary options is that the yield curve is steeper. Binary options traders either get all of the margin locked in the possibility contract or lose all of the margin. The winner takes all, there is absolutely no compromise. Which scenarios are suited to binary options? As mentioned above, binary options are straightforward. Binary options are bets placed by participants to predict that the underlying asset will reach a certain price when it expires. Opium has just launched two binary options products and services with COMP tokens since the underlying assets:

* $COMP Binary Call Option @ 250 DAI: If you think the price of COMP token will exceed 250 DAI on the expiration date of the possibility, then buy it; otherwise, sell it.

* $COMP Binary Put Option @ 150 DAI: If you think the price of COMP token will be below 150 DAI on the expiry date of the possibility, then buy it; otherwise, sell it. Professional traders sometimes make reference to binary options as "gambling" for their higher rate of reunite and loss, but binary options certainly are a very powerful tool in the DeFi field! Once we have seen, the volatility of currency prices could be high, and valuations may also be extremely unreasonable-especially when new currencies are issued. Binary options can reflect investors' bullish/bearish sentiment on the value of DeFi tokens. How can Binary Options work? Before explaining how to trade binary options, why don't we comprehend the basic operating principles of binary options. For ease of understanding, let's take the $COMP binary put option @ 150 DAI for example. In the figure, Bob could be the option buyer; Alice could be the seller. Bob pays 15 Dai to Alice, and Alice locks 50 Dai in the contract. If the value of COMP token is 160 Dai when it expires, Bob, who bought the put option (bullish), made a wrong bet and lost money (15 Dai), and Alice made money and certainly will get Return the money you locked. To the contrary, if the value of the COMP token is 140 Dai, Bob could possibly get all of the money locked by Alice (50 Dai), deducting what he paid out, and earn 35 Dai; and Alice loses the corresponding amount. There needs to be a buyer and a seller in a binary option contract. The seller locks some margin in the possibility contract (specifically DAI in this example), after which the client directly pays the vendor to purchase the contract. Option contracts are settled on the Ethereum blockchain, and the margin will be locked before the contract expires. If the option contract expires, the existing price of $COMP will determine the whereabouts of the initially locked margin. As explained above, the yield curve of binary options contracts is quite steep, causing a winner-takes-all situation, as shown in the next figure: The income graph of the binary option contract drawn in line with the above example. The horizontal axis represents the price of $COMP at the expiry date, and the vertical axis represents DAI income Just how to trade binary options? In conventional finance, binary options have a long history, however they have only also been introduced into the DeFi field by Synthetix and have become popular. Although binary options have brought a better user experience, unfortunately there is no binary option with $COMP since the underlying asset. The following point to introduce could be the trading means of the COMP token binary option recently launched by Opium. Exchange, still taking the $COMP binary put option @ 150 DAI for example. Since every option contract features a buyer and a seller, in this example we take the client for example. Step one: Create an order Visit Opium Exchange and click OEX-BPUT-COMP-3JUL-150/50 on the left sidebar to set up an order. Set the purchase price you are ready to pay for the possibility contract and the amount you wish to buy. Step two: Settlement of futures contracts on Ethereum Once your order is successfully created, it could be cancelled anytime before it's matched to the counterparty. After the match is successful, the possibility contract will be settled on the blockchain, and the margin paid by the client and seller will be locked in the contract before the contract expires. Step three: Option contract expires (processed by Opium Exchange) If the option contract expires, the reunite is dependent upon the specific price of $COMP. We have to consider the following two situations:

Now, mobile games and cloud gaming platforms are important contributors to the expansion of the video game industry. According to the latest data, the cloud gaming market has grown from an estimated US$45 million in 2017 to US$66 million in 2018. If this trend continues, by 2023, this figure is expected to soar to US$450 million. With major companies such as Apple, Google, and Microsoft launching new products to flood the cloud gaming field, lesser-known platforms have also begun to receive industry momentum. For example, Nvidia GeForce Now and PlayStation Now are two of the multiple options that provide cloud gaming functions. But what exactly is cloud gaming? Why is it on the rise? In order to answer this question, it is important to decompose the foundation of the basic infrastructure.

Commentary: The application of blockchain in the gaming industry is one of the hot topics in this field in 2019. This year this topic is attracting the attention of young independent developers and large companies. Conferences and hackathons are held regularly all over the world for developers to explore new ideas for integrating blockchain into games. Author: Elena Perez | compiled by: Maya2020 years to play what Since 2019, the market's interest in blockchain games has been on the rise, which has helped projects such as Gods Unchained earn considerable revenue. For the industry, this year's results may be even more exciting. The BlockPegnio team confirmed that the biggest changes may mainly occur in the development of various game types: "In terms of popularity, we have to recognize that Gods Unchained was the most popular game last year... We hope that game developers will start to focus on creating people who can reach people outside the blockchain niche market. Real gaming experience. This means moving from gamified concepts (such as CryptoKitties, Axie Infinity and Trading Card Games) to real 3D experiences, such as fantasy RPGs, first-person shooters, etc." In addition to the largest existing projects (such as Sandbox, Decentraland and Gods Unchained), by 2020, the market will see many newcomers claiming that they will change the development of this field, and these projects are far more than just card games. Card games are still the leading game type Card games are booming. SkyWeaver is one of the most popular games. It is a free card game based on the Ethereum blockchain, similar to Blizzard's super popular Hearthstone. SkyWeaver players collect unique decks and battle other players. In Hearthstone, users cannot freely trade cards, nor can they sell or give away cards. On the contrary, blockchain provides players with many options: buy, sell, give to friends, and even destroy cards. The project is led by the development company Horizon Blockchain Games, which is also a platform for publishing blockchain games. Horizon announced the start of the SkyWeaver 0 season on March 21, until the public beta release of SkyWeaver later this year. The game is currently in a private beta and is already available on mobile devices and PCs. Michael Sanders, Chief Narrative Officer of Horizon, explained how players earn in-game tokens: "We have co-authored the ERC-1155 multi-token standard. The SkyWeaver card is a card based on ERC-1155. We will also provide an encrypted token called Weave (ERC-1155), which players can pass on the SkyWeaver leaderboard Get a high ranking to win. Weave can be used to make rare Gold cards (ERC-1155) in SkyWeaver. Moreover, there will be ERC-20 stablecoins for players to use when buying and trading cards in the market." Another interesting project that will appear is Emergents. In March 2020, Kathleen Breitman, the co-founder of Tezos (XTZ), announced the launch of a new game that may be built on the Tezos blockchain. The game will use NFT, and players have full ownership of the NFT. The company will also act as the buyer and seller of the NFT. The game is similar to Blizzard's Hearthstone, but will use a variety of blockchain-based features. Although Coase, the development company behind the game, will sell and issue cards, players will be able to exchange cards without restrictions. Coase will also provide "memory" for Emergents cards, which means that the activity of each card will be recorded on the blockchain. For example, the data on the Emergents card used to win the tournament will be recorded on the chain, thereby increasing its value. (To be continued) This article only represents the author's personal views, does not represent the position of the blockchain pencil, does not constitute investment advice, and the content is for reference only.

Recently, Nervos Chief Architect Jan Xie accepted an interview with blockchain business intelligence supplier Flipside Crypto to talk about the logic behind the layered architecture and its own effect on the growing DeFi. This short article is organized in line with the interview. Original link:

Challenges faced by Bitcoin and Ethereum The normal challenge for Bitcoin and Ethereum is scalability. Might issue of Bitcoin is sustainability. For Bitcoin, significant issue that's usually over looked is sustainability. Put simply: "Will Bitcoin last for 100 years? " Bitcoin's issuance curve (halving every 4 years) and transaction fee model imply that miners will receive less and less rewards for protecting the network, unless the Bitcoin price is every 4 years. Double the entire year or increase transaction costs. The initial case is very uncertain, as well as impossible. The second situation will form a vicious circle: high transaction fees wil dramatically reduce on-chain activities, and the reduced amount of on-chain activities requires higher fees. At present, Bitcoin's "store of value" and layer 2 scalability goals reduce steadily the transaction activities of the initial layer, as well as reduce steadily the cost of paying miners and protecting network security. The more successful DeFi on Ethereum is, the more dangerous Ethereum is. Ethereum faces different challenges, which we call the “asset-heavy problem”. Ethereum pays ETH to miners to incentivize consensus and ensure network security. However , Ethereum carries numerous tokens, which enjoy the security of Ethereum but have not contributed to the growth of Etherum's security. Alternatively, ETH holders must pay continuous storage costs for them (by creating ETH to pay for the miners). Actually , the more successful these non-ETH tokens (such since the development of DeFi), the more desirable Ethereum is to attackers. At the same time, the security of the network hasn't increased compared to the full total value of most tokens stored on the network. Ethereum's economic model contradicts the ecosystem it promotes. If there is no sustainability, the blockchain will ultimately encounter a rise ceiling. The more successful, the faster the growth, the earlier the inherent bottleneck may be withstood. We believe that they are the most important problems to be solved to create a undoubtedly decentralized and sustainable blockchain network. And only via a new design can these problems be solved. Work with a layered architecture to guard Permissionless and ensure scalability. Because DeFi currently has some risks in smart contract platforms such as for instance Ethereum (see the content on smart contract risks in DeFi), Nervos also gave its in this regard solution. Nervos' solution may be the Cell model, which really is a generalization of the Bitcoin UTXO model, a model designed specifically for storing multi-asset and layered architecture. The rewards that miners receive are directly proportional to the transaction activity, and the token holding time. We made Nervos very easy and abstract, so it can evolve gradually. Along with a proper economic model, we believe it'll keep going longer than our personal. The benefit of a system is normally its main disadvantage. For blockchain, both derive from consensus. We trust the blockchain because anyone can take part in verifying transactions. But consequently, this limits scalability, because every vote and transaction must be broadcast and processed by everybody. Let us take a good look at the two extremes of scalability. One is that individuals have a centralized system that can scale well, but only one entity can verify the outcome. One other is that individuals have a decentralized system where everybody can verify every thing, however it can not be scaled up. If you want to make the blockchain a value storage system accessible to everybody on the planet, undoubtedly verifiable and trustworthy, then your only possible choice is to let everybody verify every thing. So this also makes the layered solution the only option for scalability. That is also the look principle of Nervos: the purpose of the initial layer is security, finality and decentralization, and the purpose of the 2nd layer may be the pursuit of scalability.

In the past two decades, the game industry has only had two business models, the "try before buying" model that began in 2000 and the "free to play" model that emerged in 2010. "Try before you buy" was launched at the beginning of the 21st century. Big Fish Games releases a game every day that can be played for the first hour for free, allowing players to try it before choosing whether to buy the complete game. This model has brought a large number of female players to the gaming industry, especially older women. In the early 2010s, after free download + in-app purchase games dominated the Asian market, they began to enter the European and American regions. In this mode, the game is truly free, and more than 90% of players will not spend a penny. However, the real purpose of free games is to allow the most invested players to spend more money to improve or accelerate their gaming experience. Many top-up players will spend tens of thousands or even hundreds of thousands of dollars on their favorite games. After free games, what will be the next model that will disrupt the gaming industry? According to the development of other industries, subscription may become the next disruptive mode of the game industry. Developments in other industries have shown that subscriptions may become a disruptive force. Amazon, the world's largest retailer, uses its premium subscription service to lock in customers; Salesforce.com, one of the largest companies in the enterprise software field, uses a subscription model, which puts its established competitors into trouble; the world's second largest entertainment company Netflix uses subscriptions The model has gained current industry status; even Disney is betting its future on Disney Plus' subscription model. It is a change in people's attitudes that contributed to this change. Ten years ago, people would not pay for digital content. For example, ten years ago, people would not pay for music, but would buy a DVD or CD. But now, people's attitudes have changed. According to Reuters, in the United States, the proportion of people aged 18-24 who pay for digital news has jumped from 4% in 2016 to 18% in 2017. So, are subscriptions equally effective in the gaming industry? First, many gaming companies are already using subscription models. A blog post previously published by Google gave some data and functions about subscriptions. According to Google's blog post, the annual growth rate of global game subscriptions is 70%. Secondly, the subscription model has indeed played a role in the gaming industry. Google's blog post shows that game companies that use the subscription model have increased user retention by 20%. Finally, subscriptions offset the risk of developing and releasing new games. The game joins the subscription service "Operation Guide" Of course, the success of the subscription model depends on the implementation. Just as hundreds of game companies have failed to achieve success through free games, getting users to subscribe successfully is equally difficult. Adding subscription services to the game requires mastering the following 6 core concepts.

1. Subscription must be related to privileges The biggest challenge for game companies is to provide users with what kind of subscription content. Virtual currency? Do not. Successful subscription models provide a service that allows players to obtain privileges. In a game like "Legend of Bow and Arrow", it can gain a special level or power. The benefits of subscribing can also be special avatars or unique in-game activities. In short, the key is to allow players to obtain a privileged experience, not to allow players to obtain virtual currency or premium currency. 2. Keep it simple One of the core principles of creating a successful product is to ensure simplicity. If you provide customers with too many choices, you may be overwhelmed and unable to choose any of them.

World of Warcraft has a very simple subscription model that emphasizes the value of long-term contracts without causing a huge cognitive burden. If players have many different subscription options, including subscription terms, monthly fees, revenue levels, etc., they are likely not to choose. Therefore, the key to subscription is to make it easy for players to understand the value, choose between two or three plans, and decide whether to subscribe. 3. Be honest One of the reasons why subscriptions are difficult to be universally accepted is that some companies deceive customers to register for subscriptions, and then it is difficult to cancel. Preventing customers from leaving or deceiving them to subscribe is not only unethical, but also bad for business development.

One of the basic values ​​created by subscriptions for businesses is the connection with users. Top companies use subscriptions to improve their basic business, such as Amazon, Netflix, Spotify and other large companies benefit from user subscriptions. So when you add subscription content to the game, let value drive the product instead of deceiving customers not to cancel. 4. Build an ecological environment A successful subscription plan should be tied to the game itself. The longer you let customers play the game, the higher the value of the subscription.

Battle Pass is a good example, players can get a premium experience from subscription. It also creates a very powerful ecological ring, and subscribed players can get more rewards for continuous participation in the game. 5. The gradual upgrade of subscription value The evolution of revenue is another important factor in the success of subscription plans. According to Google, “As players invest more in the game, whether it's time, skills, or other IAPs, the benefits of subscription will increase accordingly.”

Although AFK Arena is not an example of a game that uses subscriptions as a monetization model, its mechanism allows players to increase their income in the game as their VIP level increases. 6. Subscription as an affirmation for big R players VIP is at the core of almost any game's success. 60% to 90% of most free game revenue comes from the top 1% or 2% of players. Therefore, encouraging players to become VIPs and retaining them should be the focus of the game team.

Many product managers will avoid subscription plans because they are worried that if players can subscribe to VIP plans for a fixed amount, this will limit VIP spending in the game. This concern leads to the first point of subscription design, which is privileges, not replacing existing purchases. If someone spends a lot of money on your game, don't try to get them to spend another $5 or $10 subscription fee each month. Instead, turn the subscription into an affirmation of their VIP status. Give them a free subscription, and the goodwill value will far exceed the short-term income generated by forcing VIPs to purchase subscriptions. case study: Subscription service for "Legendary: Game of Heroes" "Legendary: Game of Heroes" is a card elimination game published by N3TWORK Inc. in the United States. Players can cultivate their own monsters and allow them to evolve continuously, thereby increasing the probability of winning the battle. The iOS version of the game has a total global revenue of US$2 million in October 2019, and the most popular country is the United States. In terms of subscription services, "Legendary: Game of Heroes" has done a great job.

DeFi locked significantly more than 10, 000 bitcoins, which can be about 7 times that of the start of this season. Original title: "Viewpoint丨 Liquidity Mining Makes Ethereum "Cannibalize" BTC" Published by: Martin Young Translation: Liam Your competitors for dominance of cryptocurrency will be guided by the decentralized financial landscape (DeFi), since the performance of DeFi protocols and tokens has surpassed that of Bitcoin and related services and products this season. Ethereum could be the foundation of this new financial landscape, and it has introduced increasingly more BTC engrossed. The DeFi market quickly rebounded from what appeared as if a correction. According to data from DeFi Pulse, the sum total locked value broke the historical high of US$1. 7 billion. The enthusiasm for liquid mining (Yield Farming) that began a couple weeks ago continues to push investors and speculators to the DeFi protocol, where they store their encrypted assets. You can find good known reasons for this to take place. Conventional storage locations for encrypted assets, such as for instance wallets or exchanges, don't provide any returns, while DeFi platforms can provide spectacular rates of interest: stablecoins are about 4-6%, and some altcoins can exceed 15%. Additionally , you can even earn token rewards such as for instance COMP or BAL, which is why significantly more than 750 million U. S. dollars of crypto assets have poured in to the field in the past month. There's also some interesting developments, like the rise of tokenized Bitcoin on the Ethereum network, which can be constantly changing and promoting the proper execution of DeFi.

The influx of Bitcoin in to DeFi The DeFi boom in the past month hasn't only attracted Ethereum to become listed on the ecosystem, however the quantity of Bitcoins locked in several protocols in addition has grown rapidly. Previously a couple of weeks, the sum total value of BTC locked on DeFi has doubled. BTC locked in DeFi The current lock-in quantity of Bitcoin is slightly significantly less than 10, 000 BTC, a rise of 575% considering that the beginning of this year. Relatively speaking, the quantity of ETH locked in DeFi has came ultimately back to 3 million, which can be like the situation in early 2020. In the most recent Defiant news report, industry expert Camila Russo delved in to the linking of Bitcoin to ERC-20 tokens, allowing holders to come in contact with the upward trend of decentralized finance. With more than $100 million in BTC circulating on the Ethereum network, those two assets haven't been so closely linked. But Russo also described vividly that there surely is still plenty of tribalism in the crypto world. Ethereum acts as a gravitational well for world wide financial assets. And Bitcoin could be the first "victim". The explosive growth on the DeFi platform and the financial incentives to provide encrypted liquidity have attracted Bitcoin holders to this new digital honeypot. Simply holding BTC for a long period of time isn't any longer enough to meet them. Smart investors are seeking further gains by migrating their Bitcoin to Ethereum to benefit from DeFi and constantly trying to find money-making opportunities. This can be attained by depositing BTC as a swap for ERC-20 tokens effortlessly anchored to the underlying assets. Wrapped BTC (wBTC) is a tokenization way of Bitcoin. Simply put, it's an ERC-20 token comparable to one BTC. Being an ERC-20 token, the transfer speed of wBTC is faster than ordinary Bitcoin. Still another advantage is that it can be built-into the world of Ethereum wallets, dApps, smart contracts, and DeFi. You can find other versions of tokenized Bitcoin, such as for instance renBTC, which was launched on the Ethereum network by the end of Might this season. It is implemented through a flexible, decentralized, trustless, and permission-free hosting in line with the RenVM protocol. The project explains this operation in increased detail: You give BTC to RenVM, it'll hold this BTC, and then will issue BTC as ERC20 (also known as renBTC) on Ethereum at a ratio of 1: 1 to make sure that your renBTC always gets the same amount BTC as support. The trend of Ethereum's gravity wells is called "Ethereum gravity wells", and Compound Finance has attracted probably the most bitcoins in recent weeks. This really is due mainly to the launch of the COMP token issuance that began on June 15. Within two days, COMP became the initial DeFi unicorn with an industry value of over US$1 billion. According to data from DeFi Pulse, BTC entered the Compound protocol on June 18, when the locked level was only 173 BTC. Today, this number is 2578 BTC, meaning a rise of close to 1400%.

With the rise of DeFi, the complementary DAO has once again returned to people eye.

Original title: "A comeback, DAO is reborn due to DeFi? 》 Author: Free and easy Four years back, The DAO turned out, making the planet pay attention to the idea of DAO (Decentralized Autonomous Organization) for the very first time, and its own collapse also forced the immature Ethereum to walk through the ghost gate. Today, four years later, with the rise of the idea of DeFi (decentralized finance), the complementary DAO has once again returned to the public's sight, and this time, it has died out from the past ostentation.

What's DAO? The entire name of DAO is (Decentralized Autonomous Organization), which can be translated into Chinese as decentralized autonomous organization. This concept descends from the DAC (Decentralized Autonomous Corporation) proposed by Daniel Larmier (BM)[1], that has been later Vitalik Buterin was adapted into DAO and written into Ethereum's white paper [2]. What's the big difference between the two? A company frequently is made up of hierarchical stack of written agreements between people, while a company is a collection of a series of contracts, including shareholder agreements, contracts, leases, service provider agreements, employment contracts, customer terms and services, etc . These contracts are governed with a group of higher level sharing contracts called laws. The "economy" all together consists of a network of contract stacks, and each one of these contracts are executed by courts with strict jurisdiction.

In essence, the corporation consists of contracts, and the economy is a network of contracts [3]. The so-called DAO, it allows members distributed around the world to vote on proposals with minimal trust and make final decisions. This is naturally inseparable from the idea of contracts, nevertheless the contracts involved with DAO, which we call smart contracts, are digital agreements written in code, and therefore are enforced by the blockchain network, perhaps not through the courts. Weighed against paper contracts, smart contracts are better, which can be like comparing emails and letters: the former is faster, cheaper, and more scalable. Additionally , smart contracts also reduce steadily the cost of coordinating and executing agreements, just while the Internet reduces the marginal cost of communication to nearly zero. The DAO, which raised 11. 7 million ETH. Its collapse once forced Ethereum to a devil. When it comes to DAO, it is inevitable that we will speak about The DAO. Although it is not the first DAO organization in human history, The DAO is definitely The most famous DAO that individuals know.

This decentralized autonomous organization, that has been launched in April 2016, raised 11. 7 million ETH worldwide in only 28 days. [4] Based on the scale of ETH, The DAO could be the most-funded district ever sold. Blockchain projects, even EOS, which later raised nearly US$4 billion (a total of 7. 2117 million ETH[5]), are hard to beat. The purpose of The DAO will be a decentralized capital raising fund. Anyone can vote on the investment plan by purchasing DAO Token, meaning everyone can be quite a VC investor and is dependent upon consensus. Investment results. This vision seems like a very promising plan, that has been once touted by the Ethereum community as a subversion of the VC model. However , only 2 months later, a hacker found a fatal recursive call vulnerability in The DAO's contract code, which allowed him to withdraw 3. 6 million ETH (currently valued at US$806 million) from The Dao's contract. After this incident, the Ethereum community was facing an enemy. The developers made a decision to stop verifying all transactions that day, and the price of Ethereum dropped from 145 yuan to a minimum of 68 yuan. Ever since then, Ethereum co-founder Vitalik Buterin proposed a hard fork. With the support of community members, a brand new chain without stolen transaction records was established and named Ethereum, thereby returning the huge amount of Ether funds involved to participants. By. This incident once pushed Ethereum to a ghost gate, and also warned future generations about the significance of smart contract security audits. The rebirth and expansion of the DAO did not happen overnight. Assuming that no-one continued to transform the automobile after the "Cabore" accident, then today, we may be riding in a carriage. The same applies to DAO's innovation. Undeniably, the idea of DAO is very exciting as it strives to solve all the issues in how modern organizations operate. In theory, a well-structured DAO can offer every participant by having an chance to shape the corporation. You will see no hierarchical structure, meaning any innovative some ideas proposed by anyone might be considered and accepted by the complete organization. Every participant can express their own voice, the principles are unmistakeable and simple, and there is no room for quarrels. Finally, since all rules and every voting transaction are recorded in the blockchain, anyone can review this, so DAO is completely transparent. Many people will criticize this concept. Like the "Technology Review" of the Massachusetts Institute of Technology once commented that entrusting crucial financial decisions to people is bad which is unlikely to produce any returns. None the less, this still can not stop individuals from exploring such imaginative experiments. Today, once we know the DeFi project Maker, its autonomous organization is known as Maker DAO, similar DAO organizations, Kyber's KyberDAO, Synthetix's SynthetixDAO, etc . [6]. In other words, all of them use governance tokens allowing participants to vote on changes to the principles of the protocol, thereby realizing decentralized community governance. However , the governance type DAO is only one of many branches of DAO, and there are many other types of DAO. Like Moloch: a well known shared DAO, whose focus is to provide funding for Ethereum development through grants. Anyone can submit a proposal for this Moloch DAO and receive funding. Vitalik Buterin and Joseph Lubin are two Ethereum The co-founder, successively donated 1, 000 ETH to the DAO. Up to now, Moloch DAO has funded more than 300, 000 US dollars for Ethereum projects including Lighthouse security audit and Tornado Cash [7]. MetaCartel: As a branch of Moloch, MetaCartel resembles Moloch in operation, nevertheless the big difference is based on the direction of funding. In other words, Moloch centers around Ethereum development, while MetaCartel centers around funding the Ethereum application layer. More specifically, MetaCartel provides small grants (usually in the range of USD 1, 000-5, 000) to consumer applications (ie dApps). MetaCartel Ventures (also referred to as Ventures DAO) is a profitable DAO. It is one of the same type while the collapsed The DAO. It uses the Moloch V2 smart contract allowing DAO to be in a compatible, on-chain way. Purchase early-stage projects. Another DAO that I have to mention is Aragon, referred to as the DAO factory, that allows users to make a DAO within five minutes. Up to now, participants including Coinbase, Decentraland, and AAVE have created it through the platform More than 1300 small DAOs [8].

After nearly 4 years of development, organizations that use the DAO structure are quietly spreading, and the hype about the subversive DAO is practically hard to know. This is most likely the market learned the painful lesson of The DAO's collapse. DeFi and DAO complement one another and DAO, which can be really likely to be properly used on a big scale first, is in fact very related to DeFi. Today, the standard clients on the DeFi list, such as for instance Compound, Maker, Kyber, Synthetix, balancer, Aave, etc ., have all launched their particular governance tokens, and the decentralized governance community they involve is a DAO, Which will be related to the interests of participants, that may motivate participants to vote. Recently, I saw a public account with a very interesting name, called Just how of DeFi, and it's perhaps not impossible to know it while the DAO of DeFi. Because every DeFi project will essentially become a DAO, and the collection of DeFi information on the planet can in the course of time become a DAO. In the eyes of industry participants and institutional investors, DAO could have a thousand Hamlet in the minds of a thousand readers, so when it involves DAO, there will be numerous interpretations. Like Vitalik, the proponent of the DAO concept, not only donated money to related DAO projects, but also proposed the DAICO[9] financing concept combining DAO and ICO, but unfortunately, this seemingly healthier model will not be popular on the market. use.

Another example is Luis Cuende, co-founder of Aragon, who believes that DAO could be the next big innovation after blogs and social media marketing. He mentioned: "The Internet has changed just how we organize. The emergence of blogs has made it possible to talk about some ideas across borders. Blogs have subsequently given way to social media marketing, which has made it possible to discuss some ideas and influence related communities. Nowadays, social media marketing is becoming so powerful that it can even affect the election of a country's president. However , it is difficult to understand how positive the impact of social media marketing is. If blogs and social media marketing allow humans to iterate culturally faster, then DAO allows society to iterate coordination models faster than ever. "

What's the DAO in the eyes of investment institutions? In this regard, Placeholder co-founder Joel Monegro once commented: "In most areas of the planet, creating and maintaining a legal entity costs thousands of dollars in operational and legal expenses to keep this organization. In my hometown of the Dominican Republic, it might take a year to establish a charity, in comparison to Below, DAOs are available wherever there is certainly an Web connection, and their worldwide nature allows you to manage members from all around the globe. You are able to program DAO into any such thing. A digital organization can be quite a profitable company, a nonprofit foundation, a cooperative, or even a court. " Tim Draper, another well-known investor involved with investing in the DAO project, is a well-known government innovation promoter. After completing a $1 million investment in February this season, that he commented: "You can not set up a new jurisdiction each day. After Aragon, the planet will never function as same. [10]"

Yang Mindao, the founder of dForce, introduced dForce's agreement matrix in detail from the perspective of product line and strategic planning, and shared his views on DeFi value capture. Original Title: "The Troika of the Road to the Ultimate goal of dForce (Live Review)" Written by: dForce

This live broadcast could be the first detail by detail analysis of the merchandise line and strategic planning by dForce founder Mindao. The outline is really as follows

* Reflection and DeFi risk get a grip on module design * Agreement matrix and strategic planning * Rethinking the protocol dismantling and reviewing the style of the DeFi risk get a grip on module. In accordance with Lendf. Me's data before the hacking incident, dForce reached the fifth devote the global DeFi lock-up ranking in only a couple of months.

Whether it is dForce's rapid growth, strategic perspective, or risk thinking about accidents, we hope to share with you these as a reference for the industry. In the decentralized lending market, dForce has always maintained a flexible and rapid strategy to access potential new assets, and it has become the most comprehensive and flexible stable currency lending platform quickly. The amount of legal currency stable currency borrowing can also be the very first of all lending platforms. But dForce's innovation and development speed also come with risks. The hacking incident on April 19th brought us in-depth thinking. For detail by detail review, you can view dForce AMA to revive the Lendf. Me hacking incident. The next is dForce's summary of our ideas on the chance get a grip on module

* Review process for accepting new assets * Fund pool mode, single loan limit debt limit (similar to MakerDAO debt ceiling) * Mixed mode, the collateral of the single pool mode just isn't connected, solving the issue of borrower risk imbalance. * Centralized early warning monitoring and agreement termination * Asset and process on-chain protocol matrix and strategic planning Out of this year's viewpoint, the boundary between DeFi and CeFi has gradually blurred. The three major exchanges have committed to their particular public chains and stable currency construction. What do we consider DeFi? DeFi is actually a shop front and back factory model (wallets or exchanges are shops and DeFi is really a factory). As time goes on, more value will start to accumulate on DeFi. In the event that you make a classification of the DeFi field, one is really a functional agreement and one other is an asset-based agreement. dForce is targeted at the lowest level protocol, but as the market is quite early, we shall take to our better to have a step of progress to capture users at the application form layer. A usually asked question, how can DeFi do value capture? I know think this way. I begin to see the figure below. The vertical is an asset-type agreement, and the horizontal is really a functional agreement. Value capture must be deeply cultivated in two dimensions. Probably the most stable one among foreign DeFi players is MakerDAO. This is because MakerDAO not just gets the loan function, but additionally the asset DAI. When the asset DAI is built-in by other protocols, the network will have a massive effect. This network effect is much larger compared to functional agreement. The functional agreement is relatively in the moat. The weak will face competition in fees and liquidity.

Furthermore, the asset class could be the most critical. Taking the next figure as an example, we could note that we put the asset class at the pinnacle of the carriage.

Decentralized exchanges and oracles are basic application modules that explain to you just about all DeFi projects. Decentralized exchanges provide token exchanges, and oracles provide price-feeding mechanisms for various DeFi protocols. Compiled by: IOSG Ventures Token value flow of DeFi ecology @IOSG VC: From the vertical standpoint, users' rights and interests are tokenized layer by layer from the proper execution of the underlying assets, and the rights and interests are displayed by means of different tokens, and finally flow into the top-user aggregation layer to meet up various economic activities and requirements of users. For example , Ether can be mortgaged in the Maker Vault mortgage pool to lend out the stable currency Dai, and Dai can enter the Compound or Aave protocol for re-mortgage, expressing equity in cDai or aDai, and the top-level get back maximization tool such as RAY can automatically Allocate user rights and interests to different lending agreements to have maximum benefits. This shows a complete vertical flow case. From the horizontal perspective, decentralized exchanges and oracles are basic application modules that explain to you all projects. Decentralized exchanges provide token exchange, and oracles provide price-feeding mechanisms for various DeFi protocols. They serve as DeFi infrastructure Through the entire flow of DeFi value. Security Audit Technology of Smart Contract @IOSG VC: Security audits in a wide sense frequently utilize the combination of technologies shown above to find known or suspicious vulnerabilities in smart contracts that could allow attackers to steal funds. Security audits have greatly increased the threshold for attacking smart contracts, so every public project must be audited. It's like every door lock can be opened by the proper person with the proper skills, but we must still put in a lock to your door. Nevertheless , most security audit techniques are inefficient in detecting unsuspected issues, and they are definately not claiming that any audited smart contract is 100% "secure" or won't be attacked as time goes on. In addition , due to budget constraints, you can find sometimes trade-offs in exactly how many security audits to conduct. The aforementioned might sound a bit sad, but this is the reality we have to face. As a user of smart contracts, what does this mean to us? Listed here are the points you want to make:

* As always, only put the funds that you could afford in the worst case into the smart contract; * Only deposit funds for safety audited projects; * The potential rewards or advantages of DeFi applications should compensate for the extra security risks. The pulse of a Algorand Foundation and Circle have reached a cooperation to issue USDC on the Algorand chain The Algorand Foundation announced that it has already reached a cooperation with Circle to issue USDC on the Algorand chain. USDC is founded on an open standard and governance framework manufactured by the Centre Consortium (a joint investment and operation company of Coinbase and Circle) to understand a completely mortgaged stable currency for USD. FIT, Binance, Coinbase officially launched COMP, and Coinbase Earn added support for COMP FTX recently launched the COMP contract and DeFi index contract, and Binance in addition has launched the Compound governance token COMP, and opened the COMP/BTC, COMP/BNB, COMP/BUSD, COMP/USDT trading markets, and the COMP deposit channel has become open. And the cryptocurrency exchange Coinbase in addition has officially launched the Compound governance token COMP, and users can trade, send, receive or store COMP. ConsenSys Diligence launches blockchain project security audit database ConsenSys Diligence launched a blockchain project security audit database, which can be open source and displays relevant security audit information on the basis of the project, including audits, bounty, and contract warehouse lists. All project data is stored in JSON files. The goal of this database would be to aggregate blockchain security data for users, to not guarantee the security of any particular project. @IOSG VC: OpenZeppelin performed the Timelock Audit, Governance System Audit, Tether Integration Audit, MCD & DSR Integration Audit & COMP Distribution System Audit. However, Trail of Bits has been around charge of Compound Protocol Security Assessment, Compound V2 Security Assessment & Compound Governance Security Assessment. Certora and Gauntlet also participated in the security analysis, performing Formal Verification of Compound Protocol and Market Risk Assessment, respectively. In terms of the amount of projects covered Trail of Bits, OpenZeppelin and Consensys Diligence seem to be the absolute most reliable auditors. They've been followed by Chain Security (now element of PwC), SmartDec and QuantStamp. The DeFi Money Market Agreement DMM Telegram Group was attacked through the public offering, and users have already been compensated with USD 40, 000 DeFi Money Market Protocol DMM's official Twitter stated that its telegram group was maliciously hijacked through the public offering, and the attacker imposted the DMM Foundation in order to steal funds. The corresponding DMG amount was compensated for people who were deceived in the token sale. Startup Notabene is launching a compliance platform for crypto exchanges Start-up Notabene wrote a write-up about Notabene, its compliance platform for cryptocurrency exchanges. The platform is made to help worldwide virtual asset service providers (VASP) comply with the travel rules proposed by the Financial Action Task Force (FATF), allowing exchanges to begin integrating travel rules within their compliance workflows. @IOSG VC:

Notabene is the first professional KYC platform set up for compliance transactions. Its team began operations in February 2020 and won its first customer Concordium, which can be the very first public chain infrastructure established for compliance. Notabene focuses on the overall process of users' digital asset transactions as opposed to just identity verification. Including connecting the customer's identity with the digital encrypted currency account, real-time monitoring and evaluation, and providing continuous SAAS services. Cryptocurrency trading KYC is dramatically distinctive from KYC in conventional finance. The KYC business process of cryptocurrency transactions requires the following aspects. StarkWare launches STARK-based verifiable delay function service "VeeDo" StarkWare, a zero-knowledge proof research and development organization, launched a STARK-based Verifiable Delay Function (VDF) service "VeeDo" on the Ethereum mainnet. VDF is just a function that delivers delay and time lag through calculations. The first application that StarkWare intends to resolve with VeeDo is the trustless and uncontrollable random proof concept (PoC) on Ethereum. @IOSG VC: At the conclusion of May possibly this season, StarkWare also announced on twitter that it might soon complete the development of the ethSTARK code and open source it. ethSTARK is founded on the Ethereum Foundation funding StarkWare in July 2018 to develop a STARK-friendly hash function and offer open source ZKP code because of its ecology. Once ethSTARK is completed, the code will run 20 times faster than any existing ZKP code.. StarkWare raised $30 million in October 2018. Investors include Consensys, Coinbase Ventures, Intel Capital, Pantera and Sequoia.

Half of 2020 has passed. In the first half of the year, we have seen some outstanding VR games successfully launched. At the beginning of the second half of the year, the well-known IP "Iron Man VR" game warmed up. What other VR games are worth looking forward to next?

1. "Dreams" (PSVR)-July 22nd** ** In the high-profile, Media Molecule creation tool finally successfully added features that support VR technology. "Dreams" is a development engine that allows players to make their own games and share them online. So far, its description of supporting VR functions has made players exciting. Dreams will implement a free update of this feature for its game owners. 2. "Onward" (Quest)-July 30** ** The highly anticipated "Onward" is about to land on Oculus Quest. As one of the popular military simulation shooting games, "Onward", with the support of VR all-in-one machines, will realize multiplayer, single player and cooperative modes, and support the same game modes as the PC VR version. There is no doubt that "Onward" will become one of the biggest winners of VR games in 2020. 3. "Solaris: Offworld Combat" (Rift, Quest)-August** ** Aiming to surpass the predecessor "Firewall: Zero Hour", "Solaris Offworld Combat" is a VR shooting game specially designed for 4V4 multiplayer combat, creating more new props and items full of competitive elements, including weapon pickup and rebirth tools. How to play. Based on the previous game development and design experience in the past, "Solaris: Offworld Combat" will be a high-quality experience VR shooting game. 4. "Star Wars: Squadrons" (PSVR, PC VR)-October 2nd** ** "Star Wars: Squadrons" will provide a way to play in VR virtual reality, bringing a more immersive game experience. "Star Wars: Squadrons" includes single-player campaigns and multi-player campaigns, realizing the space flight combat experience of driving X-wing and TIE fighters in VR. This may be the most anticipated VR game in 2020. 5. "Medal of Honor: Above And Beyond" (Rift)-2020** ** As the best game developer, Respawn Entertainment has teamed up with Oculus to develop this new VR game "Medal of Honor: Above And Beyond" (Medal of Honor: Above And Beyond). It will be listed in 2020 and is exclusively owned by Oculus. This game is set in World War II, including single player campaigns and multiplayer campaigns. 6. "Lone Echo 2" (Rift)-2020** ** Oculus announced that it will launch a sequel to the popular space adventure game "Lone Echo". "Lone Echo 2" will continue the storyline of the first part. Players will play the role of the intelligent robot Jack, and the love between Jack and Liv will continue to be a highlight of the game. 7. "The Walking Dead: Onslaught" (PSVR, PC VR)-2020** ** The VR game "The Walking Dead: Onslaught" launched by Survios will be released on PC VR and PSVR. The actor Norman Radus in the TV series "The Walking Dead" will continue to play the role of Darryl Dixon in this game. Players can play other important roles in the TV series "The Walking Dead", which is very worth looking forward to. . The VOID store in Disney Town in the United States was terminated by Disney for breach of contract According to foreign media reports, the The VOID store in Disney Town, California, USA, was posted with a notice of breach of contract and is currently closed, and the lease has also been terminated by Disney. The VOID provides high-end VR experiences supported by Disney IP, such as "Star Wars: Secrets of the Empire", "Avengers: Damage Control" and "Invincible Destruction VR". Since March of this year, the VOID and other types of offline VR entertainment venues have been basically closed due to closure orders related to the COVID-19 pandemic, although some places have now reopened.

As far as The VOID in Anaheim is concerned, it was closed on March 17. According to sources familiar with The VOID's Disneyland business, employees have been on paid leave until the end of March and have been on unpaid leave since then. status. The source also said that the management of The VOID is negotiating with Disney on the notice. The current generation of VR arcade game rooms and other types of VR-driven offline entertainment venues did not have a solid foundation at the beginning. Therefore, under this epidemic crisis, many places failed to survive and eventually declared death. Another blow is that Facebook and its subsidiary Beat Games told offline stores last week to withdraw one of the most popular games before the end of July, that is, "Beat Saber" owned by Facebook. The VOID is a start-up company headquartered in Utah, USA. It provides advanced VR experiences powered by backpack computers. A family of four takes about 30 minutes to experience VR in VR, and the total cost may exceed $100. These experiences are stories composed of multiple rooms, usually enhanced by wind, heat and tactile effects that are not easily available when experiencing at home. The VOID's first major project is content related to the IP of "Ghostbusters", which joined Disney's accelerator launch plan in 2017. The VOID also has an offline store in Disney Springs, Florida, as well as offline stores in other major cities around the world. Facebook announces cooperation with CBSE in India to provide AR skills training to students and teachers Facebook announced the launch of a course in cooperation with the Central Board of Secondary Education (CBSE) of India to teach digital security and online health and augmented reality (AR) related courses to students and teachers. Users can access the course through the CBSE website. Digital security and online health courses will be launched in phases. In the first phase, from July to October, it will be implemented in CBSE and other national education committees. In the second stage, the curriculum will be provided to the State Board of Education.

Like the board games mentioned earlier, card games also embody traditional card gameplay in the form of electronic games (including traditional physical trading cards). For the overseas mobile game market, the promotion of card-based mobile games is not a simple matter. In this article, we will gather data from udonis, GameAnalytics and Sensor Tower to give an overview of the subdivision of overseas card games in 2020.

2020 overseas card game TOP10 1.World Series of Poker (Playtika) 2.Yu-Gi-Oh! Duel Links (Konami) 3.Pyramid Solitaire Saga (King) 4.UNO (Mattel163) 5.Castle Crush (Fun Games for Free) 6.Live Hold'em Pro Poker (Scientific Games Interactive) 7. Hearthstone (Blizzard Entertainment) 8.Solitaire Grand Harvest- Tripeaks (Supertreat) 9.Solitaire TriPeaks (GSN Games) 10.Gin Rummy Plus (Zynga) Who is the audience of card games In our general understanding, the main audience of card games is the middle-aged and elderly groups, but this is not the case. In fact, card games also have a lot of young users. Regardless of stickiness or gender, the audience of traditional card games such as poker is very large, and the convenience of playing on mobile phones is much greater than that of physical cards. In addition, trading card games like "Yu-Gi-Oh!" (Game King) are also popular among young users.

The picture above shows some user portraits of the game "Three Magic Towers" launched by Mobile Games Entertainment. As shown in the picture, the audience of this game is very young. 34% of users are between 18-24 years old, of which 13% are women , 21% of men; 29% of users are between 25-44 years old, of which 8% are women and 21% are men. Only a few users are over 44 years old. Key data Second stay The secondary retention of card games is relatively high. According to the data provided by GameAnalytics, the average performance of card games can reach 30%, while the top card games can reach 39%.

Seven days retention The seven-day retention of the classic category is relatively high, and the card mobile game is one of the highest subdivision types. The seven-day retention of ordinary card games can reach up to 12%, while the seven-day retention of head card games can reach 18%. Overall, the seven-day retention of card mobile games is very high, second only to 20% of text-based mobile games.

28 days retention Classic is the type with the best retention indicator on the 28th, slightly above 10%, followed by card games. Among them, the 28-day retention of ordinary card games reached 6%, while the index of head card games reached 10%.

The above data is only the average value retained by users. Therefore, in specific operations, a good card game can expect better data. The "Three Magic Towers" mentioned in the above article is an example.

As shown in the figure, the retention rate of the game within one week is as high as 60.73% in the next day and 37.13% in seven days. Compared with the card game user retention data provided by GameAnalytics (up to 39% in the next day and 18% in the seventh day), it is much higher. Therefore, an excellent card game can have very good user retention, which is useful for improving the game. Profit is very helpful. Average use time The average use time of most types of games is more than 7 minutes is a good standard. For card games, the average use time of head card games is 19 minutes. Even ordinary card games, the average use time is also Can reach 9 minutes. On this indicator, the "Three Magic Towers" mentioned above reached 31 minutes.

User stickiness The ratio of daily activity to monthly activity is user stickiness. The stickiness of card games is the second highest among all types. The stickiness of ordinary card games is as high as 20%, and the stickiness of head card games is 25%.

ARPPU The revenue capacity of card games is relatively strong, and the ARPPU of the top card games is as high as $18. In the field of classic, the ARPPU of card games is also the highest.

ARPDAU Compared with the past, the average number of ARPDAU in card mobile games has dropped from 0.03 to 0.02, but some types have not actually experienced this decline. Ordinary card game ARPDAU can reach 0.02 US dollars, while the head card game ARPDAU can reach 0.1 US dollars.

Conversion rates As advertising monetization is currently taking up a larger proportion, paid conversions based on in-app purchases have declined. The conversion rate of payment for ordinary card games is about 0.3%, while the conversion rate of top card games is 0.8%.

Netfox Technology has been committed to the development of chess and card games for 16 years, and has a reputation in the chess and card markets at home and abroad. Over the past two years, the overseas chess and casual game market has exploded. Netfox has conducted product research and development for chess and card operators in many countries including the United States, the Philippines, Thailand, Cambodia, Singapore and other countries, and has achieved good results locally. In 2020, NetFox will continue to be optimistic about the overseas chess, card and casual game market and recruit global partners. Accept overseas localized chess and card games, casual game customization and joint operations. If you have any product requirements for overseas chess, cards and casual games, scan the QR code and add Line, and NetFox will create a fast profitable mobile game product for you.

Definition of DeFi DeFi may be the abbreviation of Decentralized Finance, which is distributed finance, also it can be called open finance. DeFi describes a distributed protocol used to build an open financial system. It works on the digital "bank" platform to market services that count on the P2P (peer-to-peer) principle as opposed to centralized services. The core tool of DeFi is blockchain, and its goal would be to redefine worldwide financial services. DeFi is just a relatively broad concept, including currency issuance, currency transactions, lending, asset transactions, investment and financing, etc .

DeFi development back ground 1) Start-up banking platforms that share the value of depositors (this type of start-up banking platforms are not real banks, nor are they FDIC federal insurance providers, but this startup platform will not only pay for high-interest ordinary currency deposits, but also support cryptocurrency and crypto stability Currency is the same as USD or other legal currency currency-linked deposits. Currently, the platforms which were created and operated include Celsius Network and BlockFi, etc . ). 2) Tokenization of assets; 3) Revolution of loan collateral and deposits; 4) The number of merchants using cryptocurrency payments has increased rapidly; 5) The evolution of financial infrastructure based on cryptocurrencies (for example, Bakkt, a subsidiary of the Intercontinental Exchange, launched cryptocurrency custody, futures and trading services, and in addition provided investors with physical bitcoin futures contracts for delivery).

DeFi industry status In accordance with DAppTotal data, the total lock-up value of the DeFi industry is US$1. 15 billion, which is not quite 4 times greater than the US$302 million on January 1st in over fifty percent annually. As shown in Figure 1, Maker and EOSREX together accounted for DeFi applications. About 60% of the total assets locked. From another side, it also demonstrates the scale of the DeFi market prior to the industry is relatively small and it's also still in early stage.

Figure 1: Total value and market share of DeFi locked positions (November 14, 2019)

Figure 2: Top ten rankings of DeFi locked positions (November 14, 2019) The DeFi industry covers many areas, involving payments, stablecoins, lending, decentralized exchanges, derivatives, etc ., but the overall market can also be closely linked to encrypted assets (like lending). Contrary to the decentralized exchanges and stablecoins that appeared very early, the DeFi lending market has only entered the public eye previously 2 yrs. Included in this, the most well-known lending platform is Maker, that was completed in December 2017. It has occupied the key position of DeFi applications for some time, and it has previously ranked first. The second-ranked DeFi application is EOSREX, which rose rapidly in-may 19th, and is just a resource leasing platform on the EOS public chain. Maker and EOSREX are utilized while the two pillars of the DeFi industry, providing strong support for the further development of the cryptocurrency market economy. It may be seen from Figure 1 and Figure 2 that the lending market occupies 60% of the market share of the DeFi industry. Below we shall analyze the lending market. The absolute most extensive area in the DeFi industry is Lending, that may also be called mortgage lending, since the level of borrowing a user can borrow is determined by the value of the collateral, not its own credit rating. In the event of insolvency, the lending company or the platform can elect to proceed with asset liquidation. The DeFi lending protocol was created to facilitate the lending of digital assets and realize real-time transactions through smart contracts on the public blockchain. Additionally they support the intercommunication between different protocols and users. When it comes to the lending market, the DeFi applications ranked in the very first echelon are: Maker, EOSREX and Compound. The total lock-up value has soared from US$278 million in January to January 2019 to 8. six in November and December 2019. A hundred million U. S. dollars.

Figure 3: The total lock-up value and market share of the DeFi lending market (November 14, 2019) The DeFi lending market is still in an early stage of development, with only 2 yrs of history, but its development speed is extremely fast. In accordance with DAppTotal data, the total amount of borrowing increased from 24 million US dollars monthly to 173 million US dollars for 6 months, and the total loan amount also increased from 9. six million US dollars monthly to 256 million US dollars for 6 months. The absolute most loaned assets are DAI and WETH. The asset mortgage rate is usually around 400%, and the device is relatively safe. But the DeFi industry is currently in a two-day situation. Contrary to the rapidly increasing lock-up amount, how many users is still small, only some thousand monthly, and the types of lending services are also limited. less.

The working way of liquidity mining is quite similar to proof-of-work mining, the difference lies in priority and implementation.

Although the concept of liquid mining 's been around for quite a while, it's been tepid before. However , right after the Decentralized Finance (DeFi) protocol Compound launched a brand new mechanism and distributed its network governance token COMP to users, liquidity mining suddenly became popular. The so-called liquidity mining, while the name suggests, is in addition to normal income, users are rewarded by giving system liquidity to both borrowers and lenders in the DeFi market.

The DeFi community has invented some peculiar new terms for liquid mining, such as for example "Yield Farming", "Crop Rotation", and so on. However , behind the scenes, you could find that the working way of liquid mining is obviously much like Proof of Work (PoW) mining. In Bitcoin and Ethereum networks, proof-of-work mining has two main functions:

* Initial distribution of token blood supply; * The network will reward miners for the valuable services paid by the block. This proof mode allows distributed consensus to be realized. For users who buy bitcoins from miners, their bitcoins are also It'll become very valuable. From the higher-level, the working way of liquid mining is obviously similar to the evidence of work: Simply take Compound for instance, each Ethereum block allocates a set amount of 0. 44 COMP to industry. This sort of "reward reward" is effective for industry. Participants are valuable (especially now that COMP tokens are already tradable). In order to make money, market participants provides Compound with an extremely valuable service, namely: providing liquidity. Needless to say, you can find two differences between proof-of-work mining and liquidity mining:

* The priority of the 2 mining goals differs; * The two mining practices will vary. Below, let us analyze in detail; Different priorities In proof-of-work mining, paying miners to prove blocks might be more important than the fair distribution of tokens to promote participants in DeFi. Without proof, you will see no distributed consensus, aside from an operating blockchain. Token distribution may have a complication, that is, it is possible to pre-mining centered on experience (some tokens on the Ethereum blockchain may do this), nevertheless, you can still create a functioning blockchain. However , this priority is reversed in the Compound protocol. Technically speaking, Compound does not need to pay liquidity providers to work normally, which means this also alleviates some people's worries that liquidity mining may be a "Ponzi scheme". COMP tokens have a positive value, because liquid mining participants who hold COMP tokens could possibly get fees from the agreement in the future. We could compare the distribution of COMP tokens to users with the past operations of the DeFi industry. Previously, if those early investors participated in pre-mining, they could later sell the tokens they obtained available on the market. Compound chose to distribute COMP tokens to a wider selection of token holders for the following reasons:

This article is transferred from the HyperBC WeChat official account of the super bank, which can help users better understand HyperPay's financial products and operating mode.

Maybe you know something about stable currency financial management, but you are interested in what HyperFin is. This article will provide you with an initial introduction to HyperFin and answer why we should launch HyperFin, and why we have been devoted to becoming decentralized (DeFi) and centralized The balancer of finance (CeFi). How HyperFin solves the limitations of centralized finance CeFi data opacity problem Some exchanges and wallets provide lightning loan services, and users can deposit or borrow with one click. The core problems are: -The user can't know the actual lending situation; -The user can't know if the loaned money has corresponding digital assets as collateral; -Users can't know the quantity of platform reserves. Because the digital currency lending industry is still in its infancy, many platforms have copied the standard P2P lending model, in essence, the two are completely different services and products. Because P2P is a relatively regulated credit lending, while digital currency mortgage lending just isn't regulated. There are many digital currency lending products on the market. From the user's application for the loan to the user's mortgage of the digital asset, the whole process of the user getting the loan has been simplified. Whether the platform has a private fund pool and if the collateral is misappropriated, users can't know, this can be a serious threat To user rights. Even though digital currency lending is currently in a blind spot of legal supervision, you will find no clear regulations on the disclosure of borrower's information and collateral, but from the perspective of industry development, lending platforms have a set of self-regulatory rules to accomplish data transparency. Very urgent demands. How HyperFin achieves data transparency 1 . Traceability of investment funds

The wealth management services and products purchased by users in HyperPay will be used in HyperFin as quickly as possible. Users will get real-time details about their fund lending and financial management on the HyperPay APP, such as: decentralized financial management, P2P lending (short-term, medium-to-long-term), and the present unlending portion. 2. Public address of collateral

The picture above shows the address of HyperFin's collateral assets. Users will get the real-time status of the collateral assets anytime. 3. The address of the reserve fund and reserve fund is disclosed HyperFin Reserve The total loan reserve of HyperFin is deposited in HyperBC (equivalent to a commercial bank) equal in porportion to the collateral and platform reserve. The point is always to ensure that the platform has 100% liquidity if you find a big demand for withdrawals. Begin to see the figure below because of its reserve address.

HyperFin Reserve Fund HyperFin reserve is always to protect the interests of depositors, meet deposit payment, and ensure the liquidity of digital assets. It is the inventory in HyperBC.

HyperFin obtains a large amount of historical data on user loans and deposits from HyperPay, and sets up a dynamically adjusted HyperFin reserve payment ratio through big data analysis of user deposit habits and deposit cycles. The HyperFin reserve is used to provide the liquidity of HyperFin's active/fixed financial management to make sure that the platform doesn't run using problems. CeFi lending efficiency is low 1 . C2C-type lending releases advertising-style lending efficiency is low Some exchanges or wallets adopt pending order lending matching. There are two problems here: one is that the provided financial management cycle doesn't match the cycle expected by the user. For instance , the user really wants to deposit for two weeks, however the platform only provides 30 days. It isn't friendly to users; 2. Not able to match smartly Once the market volume is small, users can browse all of the loan ads and pick the one that suits them most readily useful. Since the quantity of users increases and the amount of ads posted increases, if you have no smart matching, the user experience will be greatly paid off. How Hyperfin solves the limitations of decentralized finance DeFi financial management yields low DeFi was very popular in 2019 and attracted great attention from industry participants. Even though DeFi is developing extremely rapidly, it still has many flaws. Most DeFi projects have an annualized return rate of 2% to 7%, which can be low. So how exactly does HyperFin give reasonable and relatively high returns? HyperFin makes full usage of its in-depth layout in the financial and wealth management track to launch industry-leading wealth management fund services and products. The return rate of regular wealth management funds is 10. 8%~12. 8% per year. It offers institutional funds with outperforming Defi while ensuring safety. High yield. Decentralized wealth management platform: Defi clearing costs are high The decentralized architecture determines that DeFi has to introduce third-party liquidation, and every actuarial calculation will digest huge costs. Taking DeFi's representative project MakerDao for example, to experience complete decentralization, MakerDao has introduced the Keeper mechanism in the machine. Keeper's responsibility is always to liquidate and profit from it once the mortgage assets are less than the liquidation line. It could be seen from the financial report of Q1 last year that Keeper has obtained a considerable area of the revenue from the whole lending system, which in disguise has increased the financing cost through Defi and paid off the financial yield of Defi. So how exactly does HyperFin clear and save costs effectively? HyperFin uses a bank-level financial clearing system. The complete system is independently developed by HyperFin. The clearing speed is at the forefront of the, providing instant, efficient, and low-cost financial settlement for HyperFin wealth management services and products. DeFi only supports specific public chains At the moment, DeFi projects are mainly concentrated in the Ethereum ecosystem, and can't provide fully decentralized financial services for public chains such as BTC, and the coverage is very limited. Even though decentralized financial management is attained by mapping BTC to ERC20 tokens, it still relies heavily on centralized management. So how exactly does HyperFin support more public chains? HyperFin breaks the ecological limitation of DeFi. It currently supports more than 40 public chains and achieves full dental coverage plans of mainstream currencies, which can meet with the diverse needs of institutional users. DeFi security breaches often occur At the moment, DeFi is in the early stage of development, with many security vulnerabilities, and can't provide high-strength protection for user assets. In the initial 8 weeks of 2020 alone, there have been two hacking attacks against Defi, one for flash loans plus one for Curve. From the present perspective, Defi still has a long way to go before mass popularization. In neuro-scientific financial management, fund security is definitely probably the most worthy of attention. So how exactly does HyperFin eradicate security problems? To be able to solve the security problem of digital assets, HyperFin has already reached an in-depth strategic cooperation with the financial service platform HyperBC. HyperBC provides HyperFin with a complete array of digital asset custody services and guarantee the security of HyperFin's funds around the clock. appendix Supplementary instructions and reference links: 1 . HyperBC, HyperFin, Hyperpay

HyperBC: HyperFin: HyperPay: 2. DeFi definition DeFi may be the abbreviation of Decentralized Finance, which often identifies decentralized applications (DApps) composed of financial smart contracts centered on Ethereum. 3. CeFi definition CeFi is centralized finance, which often identifies digital asset financial management services given by centralized platforms. 4. Traditional bank reserves Reserve (reserve) may be the deposit of cash in the commercial bank's inventory in the central bank equal in porportion. 5. Traditional bank reserves The reserve fund is a preparation created by commercial banks to safeguard the interests of depositors, satisfy deposit payments, and ensure asset liquidity. It offers cash on hand and reserve deposits in the People's Bank of China. six. Digital currency C2C lending Digital currency C2C lending identifies digital currency lending activities between users. 7. Digital currency flash loan Flash loans could make loans instantly without providing any collateral, which should be done in one transaction (an Ethereum block). 8. OTC definition OTC identifies digital currency transactions conducted off-site. 9. Keeper mechanism on MakerDao: