A so-called term “Defi” took everyone in the blockchain business away last year, not only making decentralized exchanges overtaking the trading throne from the old cryptoexchanges, and had a great impact on Ethereum, but also made ordinary people aware of that there’s other things than Bitcoin in the blockchain industry.
DeFi means “Decentralized Finance”, it appeared first at the end of 2017, Fusion proposed the concept of “Crypto Finance” in its official whitepaper, and began to focus on building digital financial technical facilities. Over the years, more and more crypto-projects have focused on this field and gradually evolved the concept of “Defi”. The so-called “Defi”, in short, is to make full use of blockchain technology (including smart contracts, decentralized asset custody, etc.) to replace all the “intermediary” roles in traditional financial services with codes to achieve maximum efficiency of financial services and minimum cost.
EVOLUTION is such an open financial ecosystem built on top of the DeFi concept. It is not restricted by the control of traditional banking networks and physical boundaries, and by using open decentralized financial infrastructure, a new system where value can flow freely will be realized.
The EVOLUTION ecology does not work independently, but interconnects tightly with other blockchains. Evolution focus on a core of cross-chain integrated digital financial network ecology, which is built on top of the public chains such as BTCETHHECOEOSXRPOKCBSC. In this open and distributed network, liquidity converges in a decentralized manner. By fundamentally redefining the term “financial services”, we will enter a new era of blockchain.
In the EVOLUTION ecosystem, everyone is able to generate cryptocurrency, which is done directly by smart contract or staking. In this process, traders will issue tokens through BTCETHHTEOSXRPOKTBNB and etc., or stake the EVOLUTION platform token or other stablecoins to generate a new token in the EVOLUTION ecology.
In terms of project governance, most of the current DEFI projects are still team-led, which is way too centralized, and does not confirm with the ideology of blockchain. However, EVOLUTION will be completely based on the DAO mechanism, which adopt the smart contract consensus mechanism for community autonomy for governance, so that the EVOLUTION community will take control of the project governance, thus a true decentralization can be achieved.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Daily Pune journalist was involved in the writing and production of this article.