1. From the ChainNews, APY.Finance, an intelligent liquidity mining aggregator, published an article about the release of the governance token APY and the start of liquidity mining rewards. The total amount of APY tokens is 100 million, of which 20% will be allocated to the team and consultants, 20% of seed investors, 16.5% of strategic investors, 31.2% of liquidity mining rewards, and 12.3% of community incentives. This means that a total of 43.5% of the tokens will be used for liquidity mining and community incentives. In addition, the tokens allocated by the team will have a four-year unlock period. The functions of APY tokens include voting to change system parameters, update or change incentive measures. According to the chain, APY.Finance is a DeFi smart liquidity mining aggregator that can automatically allocate user funds to the liquidity mining strategy with the highest revenue. The goal is to democratize liquidity mining. Currently, APY.Finance is deployed on the Kovan testnet, and it is expected to release a test version at the end of September, and provide a liquidity mining reward plan and conduct the first DEX public offering (1DO).
2. From BlockBeats news, Binance will list leveraged tokens: EOSUP (long EOS), EOSDOWN (short EOS), TRXUP (long TRX), TRXDOWN (short TRX), XRPUP (long XRP), XRPDOWN (short XRP) , DOTUP (long DOT), DOTDOWN (short DOT).
EOSUP/USDT, EOSDOWN/USDT, TRXUP/USDT, TRXDOWN/USDT trading pairs will be launched at 15:00 on September 10, 2020; XRPUP/USDT, XRPDOWN/USDT, DOTUP/USDT, and DOTUP/USDT will be launched at 15:00 on September 11, 2020. DOTDOWN/USDT trading pair.
3. DAO manages assets of US$500 million, and DeFi projects are migrating to decentralized governance. With the proper DAO structure, technology startups can develop new products and perform financial management without the need for traditional top-down executive leadership because they have a social and technical framework to jointly make decisions about resource allocation and organizational priorities.
4. In 2020, the hottest currency circle is undoubtedly DeFi. Data compiled by a Twitter analyst shows that in the past few months, the development of DeFi has exploded. In May, June, July, and August, the price of DeFi digital assets rose by an average of 42.9%, 56%, 60.5% and 168.4, respectively. %. Among them, the DeFi concept currency YFII has increased by as much as 2271.36% in the past 30 days. In August, the decentralized exchange platform Uniswap increased by 283% month-on-month. On August 30, its trading volume surpassed the centralized exchange Coinbase for the first time. But just as the DeFi wave was raging, a basin of cold water poured down-DeFi projects, especially DeFi projects that introduced “liquid mining”, began to plummet. On September 6, the plunge reached its peak. DeFi projects including SAL (salmon), CORN (corn), CRT (carrot), PEARL (pearl), KIMCHI (sauerkraut) and other currencies plummeted. Among them, the 24-hour decline of SAL even reached 81.41%. Since September 2nd, the price of ETH has fallen by 28.5% in five consecutive days, and Bitcoin has even fallen below the $10,000 mark several times. In the big crash of DeFi projects, the most notable is the decentralized exchange Sushiswap. Since its launch on August 27, the lock-up has been as high as $1.5 billion, but on September 5, the price of SUSHI suddenly plummeted and it was cut directly. The reason for the plunge is also very simple-the founder of Sushiswap cashed out and sold all the SUSHI tokens in his wallet for about 18,000 ETH, which is equivalent to nearly 50 million yuan. At present, there is definitely a bubble in the DeFi industry, but on the other hand, DeFi is also significantly different from 1CO. Compared with 1CO and currency speculation, DeFi and DAPP have higher thresholds and require players to master digital wallets. How to use it, and even have a certain financial knowledge. Therefore, DAPP and DeFi are necessarily only games for a small number of elite players.
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