DeFi Market On Fire
DeFi, namely Decentralized Finance. DeFi projects focus on making full use of blockchain characteristics such as low trust cost , peer-to-peer transactions, thus removing third-party agencies, and directly providing crypto lending/transaction services for both parties, which is currently the most popular field of blockchain technology.
Compared with traditional finance, DeFi has a series of benefits such as more accessibility and transparency, disintermediation, smart contract execution, and low cost. The emergence of liquid mining enabled DeFi to be popularized by the general public.
Until November, the DeFi market is still hot. According to DeFi Pulse statistics, the encrypted assets locked in the DeFi market are nearly 11 billion U.S. dollars. Among them, more than 2.6 billion dollars are staked or traded on Uniswap.
Hashgard New Generation DeFi Public Chain
Hashgard is a new generation decentralized financial public chain invested by 80 well-known investment institutions. The public chain is independently developed based on the underlying technology of Cosmos, equipped with the first high-performance virtual machine in the Cosmos ecosystem, and will realize cross-chain financial interaction through IBC protocol. The goal is to build an open, highly scalable, secure and reliable decentralized financial ecosystem, and become the infrastructure of a trillion-level digital asset market.
At present, Hashgard public chain mainnet has been launched, and more than 45% of mainnet GARD is staked on Hashgard public chain.
Hashgard’s new generation of DeFi public chain is featured by:
Support IBC protocol to realize cross-chain
Developer-friendly, compatible with Ethernet EVM
GGT, realizing community governance
What is GGT?
GGT (GARD Governance Token) serves as the decentralized governance token on Hashgard public chain, which is used to build up and promote DeFi ecosystem on the public chain. GGT Holders are entitled to vote on DeFi protocol governance. Hashgard is developed based on the mature cross-chain technology Cosmos-SDK, featured with high performance, high scalability, and support for smart contracts. Hashgard is devoted to a prosperous DeFi system in the Cosmos ecosystem.
GGT APPLICATION SCENARIOS AS BELOW:
1.GGT Applied In Decentralized Mining
Incentives are essential for an emerging network, especially in the DeFi world. The liquidity mining (defi farming) in the Defi field has enabled decentralized token issuance. In the DeFi farm, users will not directly pay for mining tokens. On the contrary, the user is providing assets to the protocol and gaining rewards with his assets.
In the future, the defi protocol in Hashgard ecosystem will support liquid mining to fully mobilize the community. GGT will assume the governance role. GGT holders will have a series of right to vote on several issues such as gas fees, liquidity tokens, governance proposals, etc.
2.GGT Applied in Decentralized Governance
Decentralized Finance is explained in two dimensions. Firstly, executing unchained business to enable transparency and credibility. Secondly, the decentralized governance system. The Governance Token holders proceed the voting right concerning the modifications of the core parameters. We believe that the value of the DeFi Governance Token mainly stems from the locking assets of the protocol. In the future, as the assets value grows, the governance of the DeFi community will inevitably become indispensable. On the one hand, it is for the security, and on the other hand it is a process of checks and balances. All this will bring premium to the Governance Token. The mature infrastructure enables Hashgard DeFi protocol to issue its own Governance Token so as to build a completely Decentralized Governance system.
The DeFi protocol on Hashgard public chain can make full use of on-chain infrastructure to issue its own governance tokens and build a complete decentralized governance system. However, on Hashgard public chain, governance tokens are issued and various voting can be achieved. The ownership of GGT will serve as a prerequisite, and only GGT holders have the right to issue tokens with the on-chain infrastructure.
3.GGT Applied in Decentralized Trading
The Token liquidity is a core issue for DeFi. Among many mechanisms, AMM is favoured as it provides Tokens infinitive liquidity regardless of the volume. Currently, the protocols such as uniswap are gaining recognition.
The decentralized transaction protocol built in Hashgard will resolve the problem of the inability to customize the asset ratio of the funding pool, and will also add a charging module to the Dex protocol to benefit protocol developers. GGT will act as the governance token and bear several functions such as the commission adjustment proposal in Dex, voting and on-chain governance.
4.GGT Applied in Decentralized Loan
The emergence of DeFi makes permissionless financing possible. Compared with the traditional loan, decentralized loan is featured with globalization, no deadline, and easy access, which characterize inclusive finance. Developers can build a decentralized money protocol in Hashgard with transparency and credibility. Users are required to lock tokens to be eligible for borrowing, and the loan is released based on certain proportions of locked Tokens. This protocol has an incentive mining mechanism which allows users to gain profits by taking loans.
In the future, GGT will be used for community governance of the lending function. Holders can propose changes to the lending protocol on the Hashgard public chain, or vote on the proposals.
5.GGT Applied in Decentralized StableCoin
There exist lots of high-quality assets in Defi. However, they cant be used as daily currency because of the great price volatility. Hashgard public chain supports the establishment of a GARD staking platform through which anyone can stake GARD to generate a CDP(Collateralized Debt Position) where the users lock their assets. It allows users to generate a decentralized stable coin. A stable coin equals a debt, which will lock up the assets until the user can repay.
The governance of the stable coins mainly relies on GGT holders. On the one hand, GGT holders can enjoy the benefits brought by the use of stablecoins. On the other hand, GGT holders also need to assume the governance function of the system.
6.GGT Applied in Decentralized Funds
The Hashgard public chain supports the construction of a decentralized Token fund. The raising, investment, management, and withdraw are all executed on the chain. Token Fund managers can issue tradable Token certificates which represent the fund shares. Token Funds are essentially a multi-assets fund pool, and can be connected with other DeFi protocols to provide the best interest rate liquidity and achieve self-balance. Users can also make passive investments through it. Hashgard ecosystem will provide off-chain management tools based on hService protocol, such as net value calculation, fund accounting, transaction settlement, valuation, management fees and carry accrual, etc. Therefore, Token fund managers are able to establish and manage funds at a very low cost and reduce credit risks at the same time.
In the process, GGT will be applied to all off-chain management tools, such as net worth calculation, fund accounting, transaction settlement, management fee and carry accrual, etc., including all governance, proposal, and voting functions.
7.SGO — Stake GARD&GGT to Issue Tokens
SGO (Staking Gard Offering) refers to the issuance of digital assets through smart contracts on Hashgard public chain.
Asset issuers need to build mainnet nodes by themselves or by appointing someone else, and community members obtain token distribution by staking GARD. Correspondingly, part of the mainnet rewards generated by staking GARD will be distributed to nodes (asset issuers), and the commission ratio will be determined by the issuer.
GGT Distribution Plan
GGT total supply reaches 1 billion without any additional issuance, of which 20% is generated by mainnet GARD staking, 40% distributed for various on-chain DeFi applications, 20% for ecosystem construction, and 20% for the team rewards.
How to get GGT
Stake mainnet GARD to mine GGT.
The GGT used for node mining, which is 200 million GGT, will be fully mined within one year. Halving mechanism will be applied. A total of 13.33 million GGT was mined in the first half of the year and 6.67 million GGT was mined in the second half of the year.Before halving, each block produced 24 GGT, and after the halving, each block 12 GGT.