blockchainlabs
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blockchainlabs · 5 years ago
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Community-based NFT asset decentralized trading platform-MEMEI
DeFi is the biggest hot spot this year. The total market value has grown from US$1 billion at the beginning of the year to US$10 billion in the near future, a 10-fold increase. At the same time, there is also a sector that has been growing rapidly, the non-homogeneous token NFT sector, and the cumulative transaction volume of the entire NFT market has reached hundreds of millions of dollars. NFT is currently on the eve before the outbreak, and the current layout of this section is a very good time window. Today, let’s analyze MEMEI, the leading high-quality project in the NFT sector.
MEMEI introduction
MEMEI is the equity token of the Memeswap platform, and Memeswap is a decentralized trading platform for NFT assets initiated by the MEME autonomous community. The MEME project integrates some of the most exciting innovations in DeFi and encrypted collectibles. The market value of MEME has reached tens of millions of dollars. Now the MEME team has opened up a new field-the NFT asset trading platform.
Memeswap will embed Optimostoc Rollup's Layer 2 solution on the underlying protocol, which can fundamentally reduce Gas fees and perfectly solve the problems of slow transaction rates and high transaction fees. Memeswap utilizes the features of the ERC721 and ERC1155 protocols of Ethereum to realize the on-chain and on-chain circulation of art assets.
There are multiple sections in the overall structure of MEMEI, including the asset trading platform Memeswap, and the NFT+DeFi platform MEMEI Farms platform; there will be multiple layouts in the future. The entire MEMEI platform supports the transaction of collectibles, game projects, domain names, digital art, and other assets supported by the blockchain. The combined trading market of these five aspects exceeds 100 billion U.S. dollars.
Memeswap
Memeswap is a community-based platform, and the digital assets traded on the platform are NFT assets. The ERC721 and ERC1155 protocols of Ethereum are supported in the early stage. The Meme cross-chain protocol will be introduced in the later period, which can simultaneously support the NFT assets of public chain platforms such as TRON and EOS. Memeswap focuses on trading NFT assets in the digital market. Create the world's largest trading market for digital goods by means of community co-construction.
Memeswap products are currently online, and global users can trade on the platform. The Memeswap platform uses Layer 2's underlying technology, which radically reduces gas transaction costs, and the transaction rate can be increased by two orders of magnitude. It is convenient for users all over the world to realize NFT asset transaction and circulation simply and quickly.
The Memeswap platform perfectly supports the basic protocol of Ethereum, and will build development tools, allowing any developer to build a rich integrated market for their digital assets. On the Memeswap platform, you can directly call the API and SDK provided by the platform, publish your own NFT digital assets, and realize the full-process functions of circulation and listing transactions. Memeswap's transaction bottom layer also uses the AMM mechanism. In addition to simple transactions, users can also publish asset transactions. Add assets to the Liquidity Pool to list their own NFT assets.
MEMEI Farms
MEMEI Farms is a DeFi platform launched by the MEMEI platform. It is a platform that combines NFT assets + DeFi. Users deposit or staking their own NFT assets/MEMEI on the platform, and then they can farm to obtain MEMEI, which provides a way to earn NFT assets. Channels of revenue. Users can obtain MEMEI platform currency rewards while holding value-added assets. MEMEI fully considers the needs of the market in the underlying design, and provides users with diversified asset appreciation tools.
The early incentive of MEMEI Farms platform is MEMEI, and a variety of incentive measures will be implemented in the later period, and the Farm can receive multiple Token rewards at the same time:
1. Become a Memeswap platform LP and earn MEMEI;
2. Become a Memeswap platform LP and earn transaction fees;
3. Become a Memeswap platform LP and get tokens from Memeswap airdrop partners.
The Beta version of MEMEI Farms has been launched. The official version will be launched in October. After the launch, Farm operations can be performed and platform coins can be earned.
MEMEI Community/Airdrop
MEMEI has a very large community foundation around the world. Based on MEME's global community users, MEMEI has about 5,000 Twitter followers. At the same time, MEMEI comes from the community and also gives back to all community members in the early stage of the project. MEMEI chose to use 8% (8,000,000) of Tokens for community airdrops in the distribution method. Users only need to enter the ETH address on the official website to get 100 MEMEI. If users use their own invitation link to participate in the invitation plan, they can also get an additional 100 MEMEI reward for each user.
Let me broadcast the airdrop plan again. The airdrop plan ends on October 18th. You can now participate in the event to get rewards. MEMEI is currently conducting a public offering and can participate on the official website. MEMEI has reached a strategic cooperation with Bitkeep, a popular wallet in the industry. You can see the claim page on the homepage of Bitkeep's DAPP section.
MEMEI was initiated in the MEME autonomous community. MEME was also issued by airdrop. Each user of MEME in the early days received an airdrop value of $520,000. So what is the value of MEMEI's airdrop? We will wait and see. The community information of MEMEI is as follows:
Official website: https://memei.io (receive airdrop)
Twitter: https://twitter.com/memeilove4
Memeswap platform: https://memeswap.net
Memei Farm platform: https://farm.memei.io
On the whole, the track of the MEMEI project is a decentralized trading platform for NFT assets. NFT's current trading market is gradually increasing, and it is expected to reach and exceed the current market value of DeFi. The entire platform of MEMEI supports collectibles, game projects, domain names, and digital art. The combined market value of these sectors exceeds 100 billion. MEMEI will carry the value of these fields in the future.
MEMEI, a community-based decentralized trading platform for NFT assets, will witness MEMEI's market legend in October!
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blockchainlabs · 5 years ago
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JDE Project Rating (A)-Convergent Decentralized Financial Agreement
2020 is the year of the outbreak of the DeFi market. As products of the DeFi 1.0 era, Maker, AAVE, and Compound have become the infrastructure of DeFI. Innovative projects of DeFi 2.0 represented by Uniswap and YFI have gradually attracted the attention of the market. Currently, DeFI 3.0 has emerged, technology innovation + business model innovation has become the theme of 3.0, and innovative projects represented by JDE have gradually occupied the market. This article focuses on the analysis of the JDE project and comprehensively evaluates the JDE project.
Project Positioning——A- JDE is called Just for Decentralization. The project is positioned as a decentralized DeFi aggregator protocol. In the current DeFi market, each product is an independent agreement, providing users with independent products. For the user side, every DeFi project operation has a certain threshold. If a user selects multiple DeFi products at the same time, the complexity of the operation will be much higher. JDE's centralized decentralized protocol can better satisfy users' multi-faceted and full-ecological services. You can enjoy DeFi financial services with only one key operation.
Aggregation services are the most urgent needs of users in the current market. For example, similar to loan product AAVE, wealth management product Maker, insurance product NXM, etc., users must perform separate operations on each platform if they want to achieve their needs. The high threshold of DeFI will also prevent some users from entering this decentralized world.
JDE provides a complete protocol suite to allow users to perform fool-like one-key operations. On JDE's platform, it includes loan agreement, payment agreement, insurance agreement, decentralized transaction agreement and Game ecological agreement. Users can operate a variety of decentralized financial products on the protocol cluster. This positioning is very in line with the needs of current DeFi market users, and can serve millions of DeFi industry users to provide accurate services.
Project Technology-A The DeFi project has high technical requirements. Each agreement is an independent individual, so a complete financial agreement aggregator has higher technical requirements. The technology of JDE has been developed for many years. JDE has created an on-chain and off-chain two-layer solution, which allows each protocol to be completed quickly in a short time, and the protocol cluster can also complete the interaction more quickly. Compared with other platforms, JDE's contract interaction time can be reduced by 60%. JDE's Layer 2 solution transfers transactions and transfers on the chain to off-chain, completes a Transaction off-chain, and then performs backup packaging on the chain. At the same time, JDE has added Aztec, a completely anonymous privacy protocol, which can provide more secure and anonymous services than Bitcoin. The following is the technical architecture diagram of JDE.
JDE implements Full Stake DeFI on the technical side. As the basic ecological platform, JDE integrates mainstream products in the DeFi 1.0 and 2.0 eras, such as Maker, AAVE, BZX, Uniswap, Curve, YFI and other projects. It also provides projects based on ETH Full Stake DeFI, an independent solution, builds mainstream DeFi application components. Realize one end to meet all DeFi requirements.
JDE's protocol cluster will choose the most suitable product for users from mainstream products and products built by itself, make intelligent judgments between profitability and security, and then launch products that are most suitable for users. According to the needs of users, it will intelligently choose the products that best meet the users.
Each parameter in the JDE aggregation protocol will go through dozens of demonstrations to ensure that each parameter is in the safest state. JDE's technical teams are all from well-known companies around the world, and have a very deep technical foundation in the blockchain field. Compared with the technology of many DeFi projects on the market, the technical requirements of JDE are more complex. The technical aspect scored A.
Product solution——A+ JDE provides the safest guarantee for products at the bottom of the technology. Provides the most comprehensive and complete ecological services on the product side. JDE Ecology provides DeFI financial product solutions including asset pools, loan products, payment wallets, trading products DEX, insurance protection products, game products, etc.
Throughout the current DeFi financial products on the market, they can only provide a single product and service. But on the JDE platform, users can enjoy all aspects and the entire ecosystem of financial services. From the most basic asset pool for mining, lending to payment, to decentralized DEX platform transactions, insurance services, and game product services. Covers the various needs of mainstream users.
The product solution combines the various needs of the market. Focus on the asset pool JDE DAO Pool-V1. This is a more popular mining product today. In this product of JDE, users provide liquidity by depositing mainstream assets ETH, wBTC, USDT, etc., and can perform lending and DEX liquid pool transactions on the platform. Here the user's mortgage loan is a full mortgage, so the platform transplantation can be guaranteed to be in a safe state. When the user's mortgaged assets cannot cover the user's loaned assets, the platform will automatically liquidate. At this time, the platform will charge a 5% liquidation fee.
JDE Ecological DEX trading products are also the main source of revenue for the platform. The platform will charge a transaction fee of 0.2%, which is the lowest in the entire network. The handling fees of other platforms are above 0.3%. Users can inject liquidity into the DEX platform to become a market maker. The platform is very friendly to the project party, can list currency without review, and provide automated market services. The DEX trading platform can help the platform earn hundreds of thousands of dollars in handling fees (compared to the trading fee of the Uniswap platform).
JDE Eco provides a complete and multi-faceted product solution, and users can enjoy one-stop service. The product angle is rated A.
Economic Model-A JDE is the first ecosystem in the entire network to successfully implement DAO governance. If you want to make product-related proposals in the JDE ecosystem, you must get the approval of the autonomous committee, which is composed of all currency holders. Each coin-holding user realizes a complete process of autonomy by voting on proposals. JDE's token, JDE, not only has appreciation rights, but also has very large autonomy rights.
Let's take a look at the JDE sub-token economy. The total amount of JDE is 10 million and will never be issued. Among them, 70% is used for community liquidity mining; 5% is owned by the technical team and locked for one year; 1% is for community private placement (20% is issued online, and 10% is released every week); 5% is an insurance pool; 10 % Is the DAO Autonomous Community Ecological Fund.
In the JDE economic model, almost 80% of the tokens are allocated to liquid mining, which is a very high proportion. Early rewards can be given to users who participate in the JDE community early. Users can get liquidity rewards for asset deposits, loans, DEX transactions, etc. in the JDE ecosystem. Only the technical section is allocated to the team, and the position is locked for long enough. 10% is the DAO autonomous community ecological fund, which participates in the DAO autonomous ecology. 5% is the insurance pool, which provides liquidity of funds. 1% is given to community welfare and allocated to users who participated in the early stage.
The profit of the products and services of JDE ecology will be repurchased in the JDE secondary market, which is always in a state of deflation. This economic model provides a long-term development guarantee for the JDE ecology. The economic model community surpasses most projects in the industry. The economic model is scored as A.
Comprehensive analysis, JDE ecology has a layout in the Defi field for many years, and at the same time has a very complete design in project positioning, product solutions, technological development, economic models and other sectors. The products in JDE's product solution will be gradually launched to provide users with the most complete ecological services. The prospects of the JDE project are good. It is currently in the early stages of project development. I look forward to the launch of JDE products to provide users with DeFi ecosystem services!
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blockchainlabs · 5 years ago
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The leader of DeFi-convergent decentralized financial protocol JDE
DeFi is a recent market hotspot, and more and more homogeneous DeFi projects have emerged on the market. At the same time, many innovative projects have appeared on the market. They are the pioneers of the industry, and JDE is such an innovator. While there are more and more DeFi decentralization projects, JDE (Just For Decentralization), as a convergent decentralized financial protocol, leads the next wave of the industry. Today I will give you an analysis of the JDE project.
Project Introduction
JDE is called Just for Decentralization, which is a Decentralized Finance agreement. This agreement is a complete aggregator, providing a complete aggregation decentralized agreement. Insert multiple products and DeFi applications into one platform to provide users with integrated services, which can also be called "Full Stake DeFi".The JDE platform is a full-ecological DeFi service platform. The agreements provided by the platform include: loan agreements, payment agreements, insurance agreements, decentralized transaction agreements, etc., and will gradually expand to full-ecological services such as NFT games.The threshold for DeFi participation is relatively high. As an ordinary user, there is a natural threshold. Through JDE, users can participate in all decentralized financial services with one click.
Project agreement
The protocol of the JDE aggregator ecology is JDE Protocol, which is composed of different decentralized protocols. Including Decentralized Aggregation Protocol (Decentralized Aggregation Protocol), Loan Agreement (Financing Agreement), Payment Agreement (Payment Agreement), Insurance Agreement (Insurance Agreement) and Decentralized Transaction Protocol (Decentralized Transaction Protocol), as well as game-related layout.Each protocol component will provide services in each separate domain. JDE Protocol’s products will also have different sections, such as lending-related products JDE-Lend, payment-related products JDE-Payment, insurance-related products JDE-insurance, and more importantly, it provides a DEX platform, JDE- Dex provides token exchange services for users of the JDE ecosystem and provides users with a one-click conversion service.JDE-Dex has an innovative design than the existing DEX platforms in the market, and adopts the breakthrough algorithm of Proactive Market Maker (PMM) in technology. The PMM curve is significantly flatter than the AMM curve near the market price, which indicates higher capital utilization and lower slippage. PMM offers more favorable prices than AMM.JDE Game Ecology is the layout of the game ecology of the JDE platform. Players can use the platform token JDE to create in the Ethereum blockchain, have their own game experience and profit from it. Here you can play, create, collect, earn, govern and own anything in the game.
JDE DAO
JDE DAO is the autonomous governance organization of JDE ecology, which determines the development of JDE ecology. The initial governance rights of JDE DAO include: opening new product pools for voting, creating new aggregated products for voting, voting for the application of JDE tokens in product pool rules, voting for the distribution of JDE DAO community fund tokens, and new governance The mechanism initiates a vote. JDE Pass is the governance certificate of JDE DAO, with a series of governance rights. The rights and interests of the JDE pass are fully owned by JDE DAO, and holding JDE can participate in the governance of the JDE ecosystem. JDE is the only ecological certificate.
JDE Eco Products
.JDE DAO Pool-V1JDE DAO Pool-V1 is a product pool that aggregates multiple decentralized protocols. In this aggregator, users can use assets for lending, payment, insurance and providing DEX liquidity. JDE rewards can be obtained through a series of actions on the chain.Some relevant parameters of Pool-v1 are as follows: lending pool, lending pool, margin pool, insurance pool, DEX liquidity pool. The mortgage types are wBTC, ETH, USDT, and JDE. The mortgage rate is 60% (the collateral valuation is the USDT valuation at the time of mortgage). The upper limit of the total amount of the DEX liquidity pool is 5,000,000 USDT. The loan limit for a single user is: 500—2000USDT, and you can borrow again after repayment.2.DEX platformThe JDE DEX platform is a platform that provides liquidity. While providing liquidity on the JDE DEX platform, users can mine JDE to help users get the benefits of participating in the DeFi industry. The trading pairs on the DEX platform in the early stage are JDE-USDT, ETH-USDT, wBTC-USDT, LINK-USDT, COMP-USDT, AMPL-USDT, etc. More trading pairs will be gradually opened in the future.3. Lending/payment/insurance productsJDE Eco's lending services are based on the Financing Agreement basic agreement, and extend the agreement by allowing tokenization of loans and margin positions. All lending services are implemented through smart contracts. The smart contract will produce the corresponding "i Token" and "p Token" to realize the circulation of intermediate rights. The mortgage loan rate of the early platform will reach 200%, and the rate will be adjusted gradually in the future.Flash Payment, the payment protocol of JDE ecology, can provide users with efficient and fast payment services. JDE Eco has its own exclusive wallet, which integrates all DeFi services of JDE Eco. Users can implement payment, aggregator, lending, insurance, games and other related services in the wallet with one click.The insurance service of JDE ecology is limited to ETH and JDE assets in the early stage of the contract, and will gradually expand to wBTC and mainstream ERC20 assets in the later stage. Users can make diversified choices when insuring and settlement. Insurance services can be completed in one click in the JDE Eco Wallet.4. Game ecologyJDE Protocol can also be quickly accessed in the game sector, focusing on supporting NFT-related game products. JDE Protocol supports ERC721 and ERC1155 asset protocols of Ethereum. Users can buy, sell and issue exclusive digital assets in the JDE ecosystem. The JDE Ecosystem has reached a cooperation with OpenSea, the world's largest NFT trader, and OpenSea will use JDE Protocol to access the platform's products.
JDE's products have been gradually launched, and there is a very large technological progress and product development in the DeFi field. The development of JDE ecology has surpassed many products in the industry. JDE will always lead the development of the industry in the future!Participate in DeFi, come to the convergent decentralized financial protocol JDE!
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blockchainlabs · 5 years ago
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Benchmark to AAVE, a spoiler in the lending agreement sector-Binjie BJT
DeFi has become a hot spot in the industry in the past three months. Many well-known projects have appeared in the DeFi field, such as ChainLink in the oracle sector, and YFI aggregation protocol. Star projects such as AAVE (formerly known as Lend) also appeared in the lending sector. The current total lock-up volume has reached 1.5 billion US dollars, and the price of AAVE has risen from the lowest point of 0.01 to 0.8 this year, an increase of more than 80 times. The project to be analyzed today is BJT. BJT is benchmarked against AAVE, but many improvements have been made on the basis of it. BJT will eventually become a spoiler of the loan agreement. Let's analyze it in detail.
Project analysis
BiJie is a TRON-based token that will allow users to use the BJT platform and TRON's smart contract technology to make payments, create/request loans and crowdfunding projects. BiJie is superior to traditional payment, loan and crowdfunding systems due to its untrustworthy and unchangeable nature. Unlike non-blockchain solutions, BiJie is built on the decentralized TRON network. Blockchain implementation prevents any entity from changing the user's financial information, eliminating the need for users to trust unknown entities with personal assets.BJT chose the TRON platform to consider the underlying advantages of TRON, and users can easily and quickly implement related services in the DeFi ecosystem. Based on this, BJT will implement the following products in the following sections:
Lending platform
BJT will establish a global lending platform that will enable users to participate in worldwide loans and incorporate the requirements for providing guarantees to ensure loan repayment. The BJT loan service will provide real P2P loans, and the BJT loan platform does not require custodial services or membership passes. These loans include encouraging borrowers to repay loans on time and encouraging lenders to provide these loans to borrowers. Borrowers and lenders are rewarded for their successful loan participation.2. Crowdfunding platformBJT will create an innovative crowdfunding platform that fully uses smart contracts to realize the circulation, use and distribution of funds. All users will have the ability to establish crowdfunding projects on the BJT platform. In order to ensure that project proposals maintain the highest quality, we will require each proposal to be verified by ourselves. The functions and functions of the platform will also be directly provided in the BJT mobile application. The platform will use BiJie tokens to help keep our ecosystem unified and simple to use. In order to help BJT, LLC provide income, the crowdfunding activities created in the application will be "hosted" by BJT, LLC, which will provide us with a small amount of crowdfunding funds.3. Payment ledgerThe payment ledger aspect of the mobile application aims to provide users with a very simple user interface-and experience-to track the payments they have made and recent financial activities. Contracts and TRON will be the first currencies displayed in the payment ledger, but the ledger can be easily expanded to show other currencies and tokens in the future. This will allow users to use the BJT app as a method to pay and track their financial activities and digital assets. Users can also send "quick payments" to their contacts from within the app, instead of having to enter the user's wallet address every time a transaction is made.2. Consensus mechanismBJT has a unique consensus mechanism, which enables the BJT ecosystem to achieve perfect ecological expansion in the issuance and long-term development. BiJie uses a mining method called "Time Mining".Under this consensus mechanism, when a genetic miner wants to mine a batch from their genetic address pairs, BiJie's time proof is used. In order to mine, they sent a small amount of BJTor from the parent address to the child address (as described below. The number of tokens received from the batch process is related to the amount of time since the smart contract was released on the TRON blockchain. This number increases over time. The linear growth starts from the 1250 token (from the moment the contract is released) until it reaches the size of 5000, which is reached after 10 years. The mining method does not require a proof of work, and it depends entirely on when the miner decides to mine it. Batch. The algorithm mechanism is as follows: where t is the time since the contract was deployed, expressed in years.In the creation of BiJie, users were asked to provide a parent and child TRON address, which were then saved in a smart contract and published on the blockchain. These address pairs are called BiJie Genesis addresses. Each parent address provided has 1 BJTor. BiJie can be mined by transferring any amount of BJTor (the base layer of BJT) from the child address to the paternal address. There are three types of addresses in BJOR, the bottom layer of BJT: parent address, child address and normal TRON address. Each parent address has an associated child address. Each subaddress starts with a currency unit.This consensus mechanism ensures the fairness of BJT issuance, and at the same time can bring maximum benefits to participating miners.3. Technical realizationOne of BJT's long-term goals is to establish a credit scoring system backed by tokens. The credit score can be represented by the count of token rewards. In a general sense, rewards are generated when users behave in a positive way, such as successfully repaying a loan within a specified amount of installments over a period of time. These factors are read and analyzed through smart contracts, and do not require any information to be stored on a database other than the blockchain. In the BJT ecosystem, the realization of the loan agreement contract is as follows:Structured loan{addressBorrower;Address lender;uint256 start block;uint256 amount;uint256 pays back the block;uint256 status;The amount currently repaid;Loan period;Borrower incentives;Lender incentivesInterest;Wave will be mine;The borrower delays payment;}The loan is constructed in the most common way possible. There is no limit to the loan amount. As the loan progresses, the status and amount of repayment and other related information are stored in the TRON blockchain. Smart contracts also provide records of fake anonymous loans, thereby providing immutable evidence in the event of any dispute between the parties. This is in sharp contrast to the commonly used centralized data storage method, which can be changed or erased by malicious parties.4.liquidity mining rewardsOne of the differences between the BJT loan platform and other options is a unique mining model, which was created to reward borrowers and lenders for successfully repaying loans. When creating a loan, the lender and borrower can choose whether to set a mining period, once the loan is repaid. The mining function enabled by the smart contract allows the lender to lock its BJT in the wallet for a holding period, after which both the lender and the borrower are rewarded. This reward is received in the form of a new, upcoming token-the name of the discarded "Token P" will be announced later. This reward system is currently running here through our testnet demo. Currently, 65% of the incentives are used for lenders to take risks, and 35% for borrowers to repay loans on time. If the borrower repays the loan overdue, the lender will receive all rewards. The new mining algorithm has several purposes:
Allowing non-generating holders to conduct mining provides a simple method for people who are not familiar with cryptocurrency to mine tokens (mining using hashing power is difficult for newcomers to understand). This is an additional onboarding incentive for new users and buyers.
Provide additional incentives for borrowers to repay loans and encourage lenders to use our platform.
Reward early adopters and holders, giving them the opportunity to use their contracts to mine the token P. Early adopters may hold more contracts, so they can lock in more holding periods and generate more tokens P within a certain period of time. This also rewards those adopters who have long-term confidence in our platform, so they are willing to lock in their BiJie during the holding period.
Restrict the circulating supply of the contract, because BiJie will be locked in the holding period and the token P will be mined.
Team and development plan
The initiator of the BJT project is David Jack, a graduate of Stanford University, with interest and experience in entrepreneurship, technology and finance. Prior to BJT, Jack worked at the Stanford Intelligent Systems Laboratory (SISL), the Stanford Space Convergence Laboratory (SLAB) and the Nanoparticle Laboratory at Duke University. Jack completed his master and doctorate degrees in economics. The BJT team has many years of technical experience in companies such as Google and MicrosoftBJT has currently implemented the first version of the product, which can realize smart contract lending on the platform.The third quarter of 2020: 1. Bijie smart contract is launched; 2. Mobile crowdfunding, payment, and lending platform announced;The first quarter of 2021: 1. Team o team reveal and additional recruitment; 2. New website and improved white paper; 3. BiJie mobile application alpha test; 4. Prototype release and link to TRON blockchain and real-time scanning, and information Transfer to mobile devices through sockets; 5. Crowdfunding integration.The second quarter of 2021: 1. BiJie mobile app beta test; 2. BiJie mobile app is publicly released;The third quarter of 2021: Bijie web application is publicly released;The fourth quarter of 2021: Develop a loan platform based on guarantees and reputation.Through the above analysis, BJT (BJT) is a digital token for a lending service platform. Through analysis of financial transactions, it is used to reward borrowers for repaying loans on time and paying service fees. BJT (BJT) is mined by transaction transfer between address pairs. These incentives give the loan system an advantage over legal tender and other virtual currencies. BJT is expected to surpass AAVE in the future and become the leading project in the lending sector.
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blockchainlabs · 5 years ago
Text
Benchmark to AAVE, a spoiler in the lending agreement sector-Binjie BJT
DeFi has become a hot spot in the industry in the past three months. Many well-known projects have appeared in the DeFi field, such as ChainLink in the oracle sector, and YFI aggregation protocol. Star projects such as AAVE (formerly known as Lend) also appeared in the lending sector. The current total lock-up volume has reached 1.5 billion US dollars, and the price of AAVE has risen from the lowest point of 0.01 to 0.8 this year, an increase of more than 80 times. The project to be analyzed today is BJT. BJT is benchmarked against AAVE, but many improvements have been made on the basis of it. BJT will eventually become a spoiler of the loan agreement. Let's analyze it in detail.
Project analysis
BiJie is a TRON-based token that will allow users to use the BJT platform and TRON's smart contract technology to make payments, create/request loans and crowdfunding projects. BiJie is superior to traditional payment, loan and crowdfunding systems due to its untrustworthy and unchangeable nature. Unlike non-blockchain solutions, BiJie is built on the decentralized TRON network. Blockchain implementation prevents any entity from changing the user's financial information, eliminating the need for users to trust unknown entities with personal assets.BJT chose the TRON platform to consider the underlying advantages of TRON, and users can easily and quickly implement related services in the DeFi ecosystem. Based on this, BJT will implement the following products in the following sections:
a.Lending platform
BJT will establish a global lending platform that will enable users to participate in worldwide loans and incorporate the requirements for providing guarantees to ensure loan repayment. The BJT loan service will provide real P2P loans, and the BJT loan platform does not require custodial services or membership passes. These loans include encouraging borrowers to repay loans on time and encouraging lenders to provide these loans to borrowers. Borrowers and lenders are rewarded for their successful loan participation.2. Crowdfunding platformBJT will create an innovative crowdfunding platform that fully uses smart contracts to realize the circulation, use and distribution of funds. All users will have the ability to establish crowdfunding projects on the BJT platform. In order to ensure that project proposals maintain the highest quality, we will require each proposal to be verified by ourselves. The functions and functions of the platform will also be directly provided in the BJT mobile application. The platform will use BiJie tokens to help keep our ecosystem unified and simple to use. In order to help BJT, LLC provide income, the crowdfunding activities created in the application will be "hosted" by BJT, LLC, which will provide us with a small amount of crowdfunding funds.3. Payment ledgerThe payment ledger aspect of the mobile application aims to provide users with a very simple user interface-and experience-to track the payments they have made and recent financial activities. Contracts and TRON will be the first currencies displayed in the payment ledger, but the ledger can be easily expanded to show other currencies and tokens in the future. This will allow users to use the BJT app as a method to pay and track their financial activities and digital assets. Users can also send "quick payments" to their contacts from within the app, instead of having to enter the user's wallet address every time a transaction is made.2. Consensus mechanismBJT has a unique consensus mechanism, which enables the BJT ecosystem to achieve perfect ecological expansion in the issuance and long-term development. BiJie uses a mining method called "Time Mining".Under this consensus mechanism, when a genetic miner wants to mine a batch from their genetic address pairs, BiJie's time proof is used. In order to mine, they sent a small amount of BJTor from the parent address to the child address (as described below. The number of tokens received from the batch process is related to the amount of time since the smart contract was released on the TRON blockchain. This number increases over time. The linear growth starts from the 1250 token (from the moment the contract is released) until it reaches the size of 5000, which is reached after 10 years. The mining method does not require a proof of work, and it depends entirely on when the miner decides to mine it. Batch. The algorithm mechanism is as follows: where t is the time since the contract was deployed, expressed in years.In the creation of BiJie, users were asked to provide a parent and child TRON address, which were then saved in a smart contract and published on the blockchain. These address pairs are called BiJie Genesis addresses. Each parent address provided has 1 BJTor. BiJie can be mined by transferring any amount of BJTor (the base layer of BJT) from the child address to the paternal address. There are three types of addresses in BJOR, the bottom layer of BJT: parent address, child address and normal TRON address. Each parent address has an associated child address. Each subaddress starts with a currency unit.This consensus mechanism ensures the fairness of BJT issuance, and at the same time can bring maximum benefits to participating miners.3. Technical realizationOne of BJT's long-term goals is to establish a credit scoring system backed by tokens. The credit score can be represented by the count of token rewards. In a general sense, rewards are generated when users behave in a positive way, such as successfully repaying a loan within a specified amount of installments over a period of time. These factors are read and analyzed through smart contracts, and do not require any information to be stored on a database other than the blockchain. In the BJT ecosystem, the realization of the loan agreement contract is as follows:Structured loan{addressBorrower;Address lender;uint256 start block;uint256 amount;uint256 pays back the block;uint256 status;The amount currently repaid;Loan period;Borrower incentives;Lender incentivesInterest;Wave will be mine;The borrower delays payment;}The loan is constructed in the most common way possible. There is no limit to the loan amount. As the loan progresses, the status and amount of repayment and other related information are stored in the TRON blockchain. Smart contracts also provide records of fake anonymous loans, thereby providing immutable evidence in the event of any dispute between the parties. This is in sharp contrast to the commonly used centralized data storage method, which can be changed or erased by malicious parties.4.liquidity mining rewardsOne of the differences between the BJT loan platform and other options is a unique mining model, which was created to reward borrowers and lenders for successfully repaying loans. When creating a loan, the lender and borrower can choose whether to set a mining period, once the loan is repaid. The mining function enabled by the smart contract allows the lender to lock its BJT in the wallet for a holding period, after which both the lender and the borrower are rewarded. This reward is received in the form of a new, upcoming token-the name of the discarded "Token P" will be announced later. This reward system is currently running here through our testnet demo. Currently, 65% of the incentives are used for lenders to take risks, and 35% for borrowers to repay loans on time. If the borrower repays the loan overdue, the lender will receive all rewards. The new mining algorithm has several purposes:
Allowing non-generating holders to conduct mining provides a simple method for people who are not familiar with cryptocurrency to mine tokens (mining using hashing power is difficult for newcomers to understand). This is an additional onboarding incentive for new users and buyers.
Provide additional incentives for borrowers to repay loans and encourage lenders to use our platform.
Reward early adopters and holders, giving them the opportunity to use their contracts to mine the token P. Early adopters may hold more contracts, so they can lock in more holding periods and generate more tokens P within a certain period of time. This also rewards those adopters who have long-term confidence in our platform, so they are willing to lock in their BiJie during the holding period.
Restrict the circulating supply of the contract, because BiJie will be locked in the holding period and the token P will be mined.
Team and development plan
The initiator of the BJT project is David Jack, a graduate of Stanford University, with interest and experience in entrepreneurship, technology and finance. Prior to BJT, Jack worked at the Stanford Intelligent Systems Laboratory (SISL), the Stanford Space Convergence Laboratory (SLAB) and the Nanoparticle Laboratory at Duke University. Jack completed his master and doctorate degrees in economics. The BJT team has many years of technical experience in companies such as Google and MicrosoftBJT has currently implemented the first version of the product, which can realize smart contract lending on the platform.The third quarter of 2020: 1. Bijie smart contract is launched; 2. Mobile crowdfunding, payment, and lending platform announced;The first quarter of 2021: 1. Team o team reveal and additional recruitment; 2. New website and improved white paper; 3. BiJie mobile application alpha test; 4. Prototype release and link to TRON blockchain and real-time scanning, and information Transfer to mobile devices through sockets; 5. Crowdfunding integration.The second quarter of 2021: 1. BiJie mobile app beta test; 2. BiJie mobile app is publicly released;The third quarter of 2021: Bijie web application is publicly released;The fourth quarter of 2021: Develop a loan platform based on guarantees and reputation.Through the above analysis, BJT (BJT) is a digital token for a lending service platform. Through analysis of financial transactions, it is used to reward borrowers for repaying loans on time and paying service fees. BJT (BJT) is mined by transaction transfer between address pairs. These incentives give the loan system an advantage over legal tender and other virtual currencies. BJT is expected to surpass AAVE in the future and become the leading project in the lending sector.
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