DeFi Daily News,August 27th, 2020

1.According to the ChainNews, the Binance Contract Trading Platform will launch the DEFI/USDT 1–50x Composite Index Perpetual Contract at 15:00 on August 28. The trading pair is a positive contract, that is, a stable currency contract, using the stable currency USDT as a margin. The USDT-denominated DeFi Composite Index selects a series of decentralized financial protocol token combinations listed on the Binance platform and is calculated based on the weighted average of the real-time price of the tokens. The index will include 10 DeFi protocol tokens such as BAND, COMP, and KAVA.

2. According to the Blockbeats news, following the announcement of the purchase of 8,000 Antminer S19 Pro futures in mid-August this year, Riot Blockchain has recently announced the purchase of 5,100 Antminer S19 Pro from Bitmain, and plans to start receiving and deploy. According to this statistics, the company plans to receive and deploy 13,100 mining machines in the first half of 2021.

3. The Arweave storage project has been developing silently, strongly supporting the development of DeFi and NFT, and is cooperating with more and more project parties. The mainnet of the Arweave project was launched in June 2018. It is also an incentive layer application in the IPFS protocol. It is fully compatible with IPFS. Unlike other projects, Arweave provides permanent storage services. In fact, the project party cleverly used economic models to achieve this. After rigorous calculations, the most conservative case, the storage life should be able to maintain 200 years, and even 1600 years under optimistic conditions.

The realization of permanent storage is mainly based on two points. One is that due to technological progress, the actual cost of storage is decreasing at a rate of 30% every year. In the foreseeable future, this situation can continue for a long time. The second is that user payment is essentially prepaid. The model has paid the storage fees in advance for the next 200 years.

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