Summary:The cryptocurrencymarketreturns to rationality, BLW is ready to go!
Thecryptovurrency market is detonated by DeFi thissummer,but this is just the beginning.
Since17 July this year theDeFi platformYearn.finance’sYFI online,just a few days time, YFI from $300 pulled up to $4,500,the highest peak of $44,000 is4 times overthe same period the price of BTC’s $11,600.Thelock-up volume ofYFI exceeded$1 billion, the highest peak reached $1.323 billion, and the transferfee on the Ethereum chain reached a record high of $500,000 .
YFI'ssoaring price has completely released the long silent blockchainmarket,along with the birth of Uniswap , Corn , Sushi and Kimchi seriesof DeFi star eco- landing , an outbreak of anew round of "tide of farmers" . Upto now,thelock-up volume inDeFi exceeded$11 billion.
However,what we cannot deny is that after many DeFi projectsreached a certain lock-up volume in this carnival,the disadvantages of the ecosystem gradually became apparent,such as the MakerDAO "0 DAI liquidation" event, the hugecash out of the founder of SushiSwap, and the unlimited additionalissuance mechanism of SUSHI ...The bottleneck exposed by thisseries of DeFi projects has forced the original frenzyof DeFi liquidity mining, like a basin of cold waterto gradually return the market to rationality,but at the same time, the market is also looking for (creating) moresound The DeFi ecological platform, and BLW graduallygained more attention.
BLW,accumulate and develop, only for better DeFi
BLW(full name Blue Whale) is a digital asset financial protocol based onblockchain system integration. Its business system includes adecentralized stablecoin system protocol created on EHT, and atokenized protocol composition of lending and transaction systemprotocols .
Infact, as early as June 2020, the BLW team began to work on buildingthe underlying code of BLW. Although the DeFi marketwas unprecedentedly hot in July , the founding teamdid not forget the original intention of the platform- toprovide users all over the world with safety and tolerance. ,Innovative and transparent integrated digital asset financialservices, instead of prematurely intervening in the market andexperiencing a short run . Afterlong-term strategic planning and prototype verification, anapplication security system with a complete logical closed loop wasproposed and implemented to protect application data and user assetsfrom all directions and levels.
TheBLW team proposed an upgrade concept basedon DeFi - COFi (Encrypt open finance), which istranslated into Chinese as encrypted open finance. The BLW teambelieves that DeFi (Decentralized Finance) is only anintegral part of the COFi application. COFi is basedon the concept of DeFi , but it is not limited to theimprisonment of DeFi . Decentralization is thecore and the foundation, but it is not the only one. And all. Anopen financial application with good scalability and capable ofcoping with the tens of millions of users that may exist in thefuture, safe and reliable with complete risk control capabilities,cannot be successfully built if it only relies on decentralizedinfrastructure. As the first implementation project ofthe COFi concept, the security system of the BLW platformboldly made some breakthroughs and innovations.
Inorder to cope with the traditional challenges in the development ofETH DApp, such as difficulty in contract upgrades, fixed datastructure, slow interaction on the chain, poor user experience, lackof necessary infrastructure and security issues, BLW proposedthree COFi technical components: basiccomponents, extensions Components and financial components, whichtogether constitute the COFi "revolutionary army" . Inorder to achieve the level of development and upgrading of Internetfinancial products, as well as the user experience of ETH financialDApps, while maintaining their security.
Basiccomponents: APEC, namelyAssets Protected Elastic Contracts, an elastic smart contract forasset security.
Extensioncomponents: BEAMS, namelyBlockchain Enquiring, Auditing & Messaging System, blockchainquery, audit and messaging system.
Financialcomponents: GEL, GloBLWTokenEmergency Lockdown, global emergency lockdown; CALM, CooperativeAutomatic Lockdown Mechanism, cooperative automatic lockdownmechanism; MAK, Multisig Admin Keys, multi-signature administratorkey.
Tokenizedprotocol meets the needs of multiple parties
Atthe same time, in order to meet the needs of different users forvarious encrypted digital finance, the BLW team based on the"Revolutionary Army" COFi technology components,the first tokenization protocol-BLW Finance, consisting of BLW Bond,BLW Bank and BLW U+XX.
BLWBond :Bond financing agreement, fixed-term, fixed-rate digital currencylending services;
BLWBank :currency lending protocol, an algorithm-driven current and variableinterest rate token deposit and lending service;
BLWU+XX : Decentralized stablecurrency protocol, committed to becoming an influential stablecurrency project in the encrypted digital field. BLW stable currencyU+XX can be used to invest in BLW Bond, or it can be deposited in BLWBank to earn interest, forming an aggregation effect To promote itsdevelopment.
Tokenizationprotocol-BLW Finance combines bond financing agreements, currencylending agreements and decentralized stable currency agreements toform the BLW crypto-integrated digital asset financial serviceplatform, which provides crypto asset investment, financing andtransaction services for individuals and business users .
Ecosystemtokens feed back the healthy operation of the ecosystem
Inorder to promote the sustainable and healthy operation of theplatform ecology, the BLW team issued the platform ecological tokenBLW Token (BLW for short) to attract more people to participate andpromote the platform's ecological construction for more long-termstable and efficient operation.
Atthe same time, in order to protect the absolute rights and interestsof token holders , only 41.34 million BLWs of theplatform ecological tokens will be issued. The specific distributionrules are as follows:
250,000(0.6%) :held by 50 community nodes, locked for 3 months, and then releasedlinearly in 3 months after 3 months.
2million (4.8%) :private placement, linear release within 3 months.
4.134million (10%) :held by the foundation and technical team, released linearly in 4years.
34.956million (84.6%) :Will be written into the reserve contract, which will be transferredto the agreement at the rate of 1 token per Ethereum block for thedistribution of liquid assets and borrowers as rewards.
Participantscan not only obtain BLW rewards by participating in communityconstruction for liquidity mining, but also use the BLW they hold tojointly build community ecosystems, including but not limited to BLWecosystem governance and incentives, developer communityconstruction, business and Industrial cooperation, marketingpromotion, academic research, education investment, laws andregulations, etc. In addition, it also has participation in BLWbond rating voting, participation in U+XX stability adjustment,participation in U+XX global debt auction, and participation inmanagement industry governance
Andother related rights. Participate in community building process,34,956,000 BLW all through liquidity mining output, in order forthis to attract more builders involved, so as to achieve percapita amount of absolute deflation, holders of assetssteadily implement community BLW substantial value.
Responsiblefor the strength of the operation team
Inthe blockchain industry, even in any industry in the world ,in addition to the core technology, the development levelof a project is extremely important, and it may even determinethe life or death of the project. According to BLW officialinformation, the BLW operation team is strong.
Itsplatform founder Kessara Kieng graduated from CambridgeUniversity , after graduation, he has worked in Goldman Sachs,the investment in gold and other investment institutions, proficientin the primary market capital operation and management of financialproducts, successfully invested more than 20 Duo blockschain project , as well as Founder of ZPOOL mining pool.
Its ChiefOperating Officer David Borjiking serveas international co-president of the Association of Financedistributed , for distributed academic research finance nearlysix years, has accumulated a wealth of industry experience, fluentin English, Russian, Mongolian, Chinese, while Russia is alsoincumbent Bristol Special Economic Adviser to the President of theRepublic of Atlantis, Tuva, Russia and Mongolia.
Atthe same time, it is understood that the BLW team is rich in industryresources and has successively signed investment cooperationintentions with dozens of international investment institutions suchas Contents protocol and TechStars to jointly deploy BLW ecologicalconstruction.
Onlyafter the tide faded, we will know who is swimming naked,although this former DeFi enthusiasm hassubsided, but several hundred years Centralized Finance (center offinance) in terms of relative, but now they just only juststarting. Fortunately, the BLW team resisted the temptation,witnessed the reincarnation of the DeFi "bearand bull" with their own eyes , and concentrated onthe platform technology and operation mechanism. Now the market justreturns to rationality, and the next wave of market is brewing .