SHANGHAI, China, Oct. 01, 2020 (GLOBE NEWSWIRE) — TEAMZ’s blockchain industry online event and social media platform ChainTalk will host a two-day blockchain online summit-Crypto Asia Summit on September 28 and 29 in Tokyo. The conference attracted a high degree of participation and attention from the cryptocurrency community from all over the world. Participating institutions covered public chains, exchanges, funds, wallets, decentralized finance, incubators, consulting and media agencies, etc, mainly from Japan, the United States, China, South Korea, Southeast Asia, Europe and other countries and regions. The event Gathers a number of industry leading opinion leaders as speakers to attend this online conference, brings a feast of cutting-edge trends, future trends, potential opportunities and high-quality projects to the industry.
Eagle Huang, the founder and CEO of Deepcoin, Asia’s leading digital currency trading platform, attended the conference and delivered a speech titled ” DeFi and Centralized Exchanges Build Better Future Together”. The speech talked about the DeFi market, the relationship between DeFi and centralized exchanges, user asset security, and platform future vision.
Eagle Huang had more than 10 years Internet experience before entering the cryptocurrency world and used to serve as the head of wealth management company serving over 1 million wealth management users and managing over $7 USD billion in assets.
The following is a summary of the core content of the speech:
Deepcoin is a global digital asset trading platform that provides a full range of financial services. We were established in 2018 and are headquartered in Singapore. We have obtained three major authoritative regulatory licenses, including the United States NFA, the United States MSB and the Canadian MSB. In 2019, we received a strategic investment from Fenbushi Capital and our partners include Cobo Wallet, SNZ, etc.
Deepcoin’s View on DeFi
DeFi has been very hot in recent months, the market value of UNI has exceeded 8 billion U.S. dollars in one day, which proves that the market highly recognizes the innovative value of DeFi blockchain. Take the hottest liquid mining as an example, it is essentially a shared economy of distributed liquidity, similar to Uber and Airbnb. In fact, many people have idle liquidity on their hands, such as USDT and ETH that do not need to be traded temporarily, which is like driving a car that is not full on the road.
Taking Uniswap as an example, in addition to the natural features of decentralized protocols such as security and anonymity, on the one hand, it allows ordinary users to provide liquidity and become market makers, so that the public can share the benefits of transaction fees. On the other hand, it also provides a simple means of participation like AMM. At the same time, the enthusiasm of participation by users has been enhanced because of the token incentives and community governance mechanisms. So I think in the short run it’s obviously a big bubble, but in the long run it’s still valuable.
DeFi and centralized exchanges are complementary
We can understand the ecological relationship of the blockchain from three levels, they are the bottom layer infrastructure, protocol layer, and application. The bottom layer is mainly a public chain, similar to btc and eth networks, so I won’t say more. DeFi is the protocol layer. In addition to uni transactions, the protocol layer currently has loans represented by maker, oracles represented by chainlink, etc.
There will be more modular protocol layer innovations in the future, including filcoin this kind of data storage protocol, authentication, privacy calculation, etc. It is more convenient for users to participate in the application layer similar to a centralized exchange. They can complement each other very well, because a single protocol layer is difficult to directly deliver to end users, which is like requiring users to buy chips and assemble them by themselves. It can be seen that currently only a few geeks and big players are participating, and a large number of retail investors who cannot directly mine defi have become receivers in the process of investing in DeFi tokens on centralized exchanges.
Deepcoin will focus on DeFi
In the future, Deepcoin will focus on DeFi , but we will not easily use DeFi tokens. As mentioned earlier, the current DeFi tokens mainly come from the risk-free returns of a few big bookmakers, which makes it easy for retail investors to become receivers. Therefore, we have not played any DeFi tokens so far. In the future, we will continue to select high-quality assets for our users. On the other hand, we will do a good job in the downward encapsulation of the application layer to the protocol layer to simplify the way of user participation.
Internationalization of Deepcoin
Refer to internationalization, there is a problem of it. On the one hand, you need to make it acceptable to people from different countries. On the other hand, excessive localization will make it difficult for you to internationalize. Take the Japanese market as an example, if the style highly matches them, you will not be able to do other markets. it is also in Chinese market, being the number one in China means your get half of the world’s market in many industries. This makes many projects excessively localized. We hope to make a product like Starbucks or TikTok, and we now have product and design team members come from google, ins and the Wall Street, who did a good job in internationalization, thus we have confidence to make better internationalized product.
About User Assets Protection
Deepcoin has bank-grade hardware security modules, customized multiple signature schemes, leading anti-hacking technology in separating cold and hot wallets.
Derivatives markets are perfect for those seeking high returns, but they are also fraught with high risk. In slightly volatile markets, users are exposed to the risk of liquidation. Exchanges are conducting similar risk control mechanisms like gradient based system, automatic position reduction, and partial liquidation, etc. What Deepcoin has done differently from the alternative exchanges is the market index data generation.
We find that under extreme market conditions, the indexes are usually inaccurate or delayed, which leads to loss of clients’ interests or in extreme cases, to the failure of exchanges’ risk control system. We cooperates with ICE Group, the parent company of NYSE. ICE provides quotes from various exchanges and generates indices. That is to make sure that the price is real and reliable, but also through a series of ways to ensure more timely and effective prices. We are the only platform that ICE Group is working with besides Bakkt.
Advantage of Deepcoin
The competition of contract products is like an F1 competition. The most important thing is the continuous polishing of the pursuit of the ultimate in various details. For example, our app uses the latest technology framework to make the performance extremely smooth. Users can pay attention to the market while placing orders with one click without any switching. Similar micro-innovations will continue, and we will continue to enrich our product line in the direction of derivatives.
The biggest advantage is our product development and innovation ability. Take derivatives as an example. Currently, there are many exchanges with contracts or other derivative product lines, but within the global blockchain industry, there are no more than 10 teams with independent research and development. Many exchanges buy cloud services from system providers or are developed by outsourcing teams. This situation will lead to the lack of control over the system, the inability to make effective adjustments according to the needs of users on their own platform, and the inability to make rapid and agile continuous innovation. Deepcoin has one of the world’s top trading system research and development team, 100% independent research and development, we can respond quickly in all kinds of situations, keep the system stable and efficient operation, and almost every week a version of continuous improvement of various levels of various details.
Future Expectation of Deepcoin
In terms of future expectation，our slogan is ‘Change Exchange’, we aim at changing the current exchange and becoming one of the world’s largest cryptocurrency trading platform. With our professional and high-quality services, we hope that our users could have more financial freedom and achieve more diversified asset allocation or investment chances by providing fair, safe and reliable investment opportunities.
Many companies operate the exchange as a casino or even as a game, and all sorts of fancy marketing driven to make short money. We believe that the exchange is the core infrastructure of the entire blockchain emerging financial ecosystem, so we will pay more attention to products. In the future, we will continue to invest in system R&D and innovation at a high cost, which will gradually widen the gap with peers in a longer period in the future.
On March 29 this year, we released the only wealth management product “Miaoxibao” ,we believe it is the first product in the entire network that can accumulate interest per second, users can deposit and withdraw money at any time, so that they can enjoy risk-free capital preservation without any lock-in restrictions here. The highest income rate is up to 42% per annum latestly, users can participate with only one-click license, and there are no restrictions on normal investment, deposit and withdrawal. This product is our most important strategic investment in the defi field, and is the effective encapsulation of the protocol layer by the application layer.
The principle behind it is to help users select high-quality risk-free DeFi projects based on stablecoins, making them directly involved in the protocol layer to dig liquidity.Professional people will do professional things, which greatly simplifies the threshold for users to participate. We hoped that “Miaoxibao” can become a bridge between high-quality original assets of the blockchain and the general public, and become the blockchain version of Airbnb.