The NGK DeFi project Baccarat is coming, and players are looking forward to it!
The NGK DeFi project Baccarat aims to create a completely equal decentralized closed-loop financial ecosystem. The project provides mining rewards for equity tokens (liquidity mining) to providers that provide liquidity. Baccarat is a decentralized exchange with practical application scenarios, and its fluency and practicality will far exceed similar projects in the market. This point is also quite agreed by the leader of the currency circle, Ken Huang. Therefore, he joined the NGK technical team as a star technical consultant.
One of the advantages that Ken Huang, a master in the currency circle, has chosen is the direction of Baccarat’s blockchain. It is different from other DeFi projects on the market. Baccarat does not run on Ethereum, so it avoids the problems of slow block production, market congestion, and high gas handling fees. Baccarat is a protocol based on the NGK blockchain, which aims to promote automatic exchange transactions between NGK coin digital assets. NGK has achieved a major technological breakthrough where the unique account system makes the DeFi protocol it runs more advantageous. It is another fine work that the Spirit Stone technical team has spent several months carefully creating. Both the timeliness of the transaction and the low transaction cost will make the NGK DeFi agreement have a place to stand. From a technical point of view, we will publish the DeFi project as open source, and have passed the use of detection and test scenarios which make it can be easily complete work instructions. From the player’s point of view, everyone can participate easily, and provide liquidity on the chain, and easily realize liquidity mining. Unlike other ETH DeFi projects, Baccarat is completely deployed on the NGK chain. The NGK technical team uses a decentralized protocol to completely disintermediate the digital asset transaction process.
As a trading project on the NGK platform instead of the market, users can directly participate through the NGK digital gain platform and NGK Wallet.
So how does the Baccarat project achieve liquidity mining? The NGK team divided the DeFi platform into two roles, the market maker and the exchanger. When the market maker LP deposits funds in the liquid reserve pool, it injects momentum into market transactions, and all users can freely exchange on it. Using the exchange function will incur handling fees, and the resulting handling fees will be returned to the liquidity reserve pool to be evenly distributed to each market maker that provides liquidity. This is also the basic operating principle of DeFi.
In addition, the NGK.IO blockchain issues BGV as a new DeFi coin in return for the majority of players, and as a return of liquidity. The currency cannot be purchased through the market in the initial stage, allowing participating users to hold cryptocurrencies to earn liquid BGV mining rewards, and BGV will be the first mining bonus in the Baccarat project. BGV will be weighted and distributed according to the market maker’s transaction volume, and will be quantified daily for fixed output. Every transaction generated by DeFi will be calculated in a timely manner and will be issued at the appropriate time within 24 hours.
NGK DeFi project-Baccarat is a very safe and reliable decentralized trading platform. It runs through a decentralized transaction protocol without any trust cost. The market maker provides two equivalent coins at the current price, and the exchanger can quickly flash through the reserve pool. This type of transaction is a timely transaction, and the transaction fee will be used as a return to the liquidity provider, which will drive more liquidity providers to participate, increase the flexibility of the transaction, and increase the total value lock (TVL) . In other words, when the circulation of NGK and USDN is decreasing, the more locked value will be, the more people will participate in mining. While NGK is the main liquidity coin, the transparency of the entire transaction process is realized. All participants can analyze the changes in the price of NGK and BGV or other coins according to the total assets and proportions in the reserve pool, and choose transactions independently.