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Deepcoin: DeFi and Centralized Exchanges Build Better Future Together

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.

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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.

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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.

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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 the better-internationalized product.

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