Since the advent of blockchain technology and cryptocurrencies, there have been huge markets and new possibilities for new forms of digital assets. DeFi releases global finance by empowering individuals to move capital and trade rapidly. Moreover, there are new innovations in payments, mortgages, insurance, and other areas that support independent sovereign agreements, with consumers entitled to choose which medium to use.
In cryptocurrencies, investments are always looking for returns, and DeFi offers a huge opportunity. When liquidity mining became more popular this year, money poured into DeFi. According to DeFi Pulse, as of October 15, 2020, the total value of encrypted assets (locked-in value) was $11.37 billion, spread across 39 applications, including the DEX division, loans, derivatives and assets.
At present, although the DeFi project is developing rapidly, most DeFi projects are built through ETH, the high cost of Gas will keep ordinary users out, the existing capacity can not meet the market demand, the high threshold greatly limit the development of DeFi, in this context, the birth of Baccarat.
Baccarat is a decentralized transaction protocol for NGK.IO blockchain that keeps NGK.IO moving at the forefront of blockchain technology innovation while introducing new currency BGVs. BGV’s newly issued DeFi token for NGK.IO blockchain, which provides liquidity returns, is currently unable to buy through the market, but users can earn a mining reward by holding cryptocurrencies.
BGV & DeFi released 60,000 BGVs, producing just 1,500 BGVs a day, and the 1,500 BGVs are weighted by the amount of market-making transactions, with a fixed maximum of 1,500 BGVs issued a day. DeFi is calculated on a timely basis for each transaction generated and is released at an opportune time within 24 hours.
Moreover, the ultra-low fees have made the project’s DeFi trading market a bright spot. Compared with the average fee per conversion for DeFi transactions in Ethereum, the project charges only 1%. NGK saves customers at least 90% of their conversion costs, based on the average exchange rate of $1–200. And these fees will go into the reserve pool for market makers.
NGK.IO is the first platform to launch DeFi through its own blockchain, the unique account system can make the running DeFi protocol more advantageous, and NGK has already started the construction of this application, whether the transaction timeliness and low transaction cost will make the NGK DeFi protocol has a place, from a technical point of view NGK DEFI project through the use of testing and testing scenarios, it can easily complete the work instructions. Meanwhile, NGK is considering making the DeFi open source public.
DeFi is the direction of cryptocurrencies and blockchain assets this year, and DeFi has demonstrated the benefits of smart contracts embedded in blockchain. Fintech innovators design ecosystems that are open, open-source, borderless, self-reliant, affordable, and operate without central agencies or authorization, something that has never happened before.
The DeFi de-centralized financial transaction system introduced by NGK.IO brings new development momentum to DeFi ecosystem, which will drive the next round of DeFi growth to come early, and become the best application scenario for blockchain landing to vertical industry.