Nov 18, 2020
How does NGK DeFi project baccarat emerge in the 2020 DeFi year?
2020 is the year of the rise of decentralized finance. Based on the data, why is it said that decentralized finance is rising rapidly? This is because the total locked value of DeFi has exceeded $11 billion. DeFi, the field of distributed finance, has not only attracted most of the attention of the cryptocurrency circle, but the concept has also become popular in other fields.
Spirit Stone technical team is a team specializing in the development of blockchain technology. According to its latest news, NGK’s DeFi project was officially named baccarat. So what is it? It can provide users with a very safe and reliable decentralized trading platform that runs through a decentralized trading protocol. It does not require any trust cost, and the marketer provides two equivalent coins at the current price, and the exchanger can quickly flash through the reserve pool. This type of transaction is timely transaction. The transaction fee will be used as the return of the liquidity provider, and more liquidity providers will participate, which will drive the flexibility of the transaction and realize the total value lock (TVL). This means that the circulation of NGK and USDN is decreasing. The more value locked, the more people will participate in mining. With NGK as the main liquidity coin, and the entire transaction process is transparent, all participants can analyze the changes in the price of NGK and BGV based on the total assets and proportions in the reserve pool (Note: BGV is newly issued by Baccarat DeFi dedicated coin).
So, the specific benefits are the most concerned section by the players. Taking liquidity mining as an example, the income is divided into two types. The first is the transaction fee for exchange coins. The processing fee that occurs every time a transaction is generated will enter the reserve pool, and this income is timely income. The second type is new currency mining. When you get timely income, a certain liquidity certificate is included for you, and the dividends of BGV coins are weighted according to your liquidity certificate. For example, if A invests 30,000 US dollars to buy coins, the principal platform will not move and will continue to earn interest with coins. And because A is an active account, he will also enjoy short rewards, therefore, one currency has dual use. In other words, liquidity mining is equivalent to storing coins in smart contracts. When a trading pair is generated, you need to pledge two different coins at the price calculated by the current contract. After you complete the capital injection, it provides liquidity for the contract. When the reserve pool generates transactions, you have completed liquidity mining, and you can get transaction fees and new currency rewards. And all these things happen through decentralized governance protocols, and a large number of liquid transactions are promoted through fee income and new currency distribution models.
It is believe that in the near future, baccarat will be the next cutting-edge project with a lock-up of over 100 million yuan!
