The Online meetup of ‘Discussion on the latest global development of Defi ’ hold by the OUMI reading club ended successfully. Dozens of entrepreneurs gave targeted explanations to the latest Defi projects, and each participant had an opportunity to get to know each other and have in-depth exchanges on different projects.
During the meetup, after the participants gave some brief introductions, Mr.Li introduced the features and concept of Defi and briefly summarized the categories of Defi projects such as P2P insurance, market forecasting, synthetic assets. Leverage and gambling were also brought to discussion.
Defi means Decentralized Finance. In short, it is to make full use of blockchain technology (including smart contract, decentralized asset custody, etc.) to replace all the “intermediary” roles in traditional financial services with codes, so as to maximize the efficiency and minimize the cost of financial services.
During the online meetup, Mr. Li introduced different projects of Defi industry and analyzed their advantages and disadvantages in detail. The second-largest project is “Compound”, a smart contract of borrowing tokens. Compound’s loan is established by over-collateralization. Borrowers can deposit tokens in Compound to increase their “borrowing power,” and if their borrowing power falls below zero, their collateral will be sold to repay the debt. In this project, users can loan efficiently and safely, but they cannot borrow with credit. The compound created a new incentive model named “yield farm” which can be understood as “you use my service, I give you a free token”.
In addition, Mr. Li also introduced some Defi projects such as Nexus Mutual, AMM, and rot-advisor, and analyzed the pros and cons professionally. This event not only made a professional analysis of the world’s most cutting-edge Defi applications but also promoted in-depth communication among the participants with these technologies. In the future, the OUMI group will hold more summit conferences, panel discussions, and roadshows about the related projects. Carrying out a thorough study of this new field to achieve the purpose of project development, and discuss more blockchain implementations and business cases in future events.