NGK public chain builds DeFi infrastructure to makes more open-finance
DeFi is decentralized finance. There are various discussions surrounding DeFi. For example, some people say that Bitshare and MakeDao are the pioneers of DeFi; some people say that DeFi will be the same as P2P finance, and it will quickly become popular and quickly withdraw from the stage; others say that DeFi is the new financial Vanguard will completely change the traditional financial model.
From the perspective of technical foundation, DeFi is no different from other blockchain projects. Because blockchain technology integrates cryptography, smart contracts, consensus mechanisms, and community governance into one, any link or mutual cooperation is connected. Problems may lead to more serious consequences. For example, we often see that certain coins are forked, contracts are leaked, and they are controlled by certain powerful institutions. These all make the development of DeFi startling.
DeFi aggregates a large number of technologies, users, funds, etc., and pays more attention to these issues, which will allow the entire industry to continuously develop technological innovations and accumulate technical experience, which is a foundation for the entire blockchain industry and the construction of the entire digital economy. The facilities are very helpful.
Regarding the issue of future user increments, NGK lowers the barriers to entry of the blockchain and uses the funnel principle to expand the user base. NGK screens users through a set of encryption mechanisms such as private keys and mnemonics, enabling one-click account registration and multiple sub-accounts at the same time. The threshold for novice users to experience digital assets is reduced to a minimum, thereby expanding the user base.
NGK will open the underlying native formation of the public chain to users. It makes users no longer need to write a set of contract codes like Ethereum to issue assets, which is costly and has a high threshold. The underlying technology of the public chain is open to users, and individuals can also easily issue digital assets. The era of Token for everyone is also an era of value creation for everyone. In the past, Token issuance was something that companies or organizations could do by default. Now NGK has reduced the production relationship to a minimum.
Recently, Baccarat, a DeFi project launched by NGK, has launched a trading pair between NGK and USDN. By pledging into the reserve pool of NGK and USDN, and exchange the two currencies through the exchanger. The ratio of NGK and USDN pledged by the market maker will change. Each transaction in the reserve pool will get the handling fee and the new currency BGV, and make the market. Merchants can withdraw USDN and NGK at any time.
The Baccarat liquidity mining project has extremely low handling fees, only about 1%. With only 60,000 new BGV coins, NGK took out 10,000 coins for airdrop to active accounts. This is great news for users of liquid mining.
NGK liquidity mining uses the basic operating principle of DeFi, which is to separate two roles in the working principle, the market maker and the exchanger. When the market maker deposits funds in the liquid reserve pool to inject momentum into market transactions, all users can freely exchange on it and use the exchange function will incur a handling fee. The resulting commission is returned to the liquidity reserve pool and distributed to each market maker that provides liquidity.
The NGK public chain has extremely high TPS and security and fast transaction confirmation on the chain, with almost zero transaction fees, which is highly compatible with DeFi. NGK has achieved a major breakthrough in technology. The unique account system makes it easy for anyone to participate and provide liquidity on NGK. This time, DeFi is completely deployed on the chain. Any individual user who has installed decentralized wallet software can use this protocol.
The DeFi project reduces transaction latency and transaction fuel costs, and will create more transaction pairs. Users can freely choose their favorite currencies to participate in NGK decentralized finance. DeFi will be promoted as an important part of the NGK blockchain. NGK will continue to make some applications based on the underlying performance to improve the infrastructure. In the future, an ecological developer fund will be launched to allow more developers to develop ecological applications on the NGK public chain.