Understand CrossFi in one article-a DeFi solution for heterogeneous network mobility by last-angel

View this thread on steempeak.com
· @last-angel ·
Understand CrossFi in one article-a DeFi solution for heterogeneous network mobility
<p><img src="https://hx24.huoxing24.com/image/crawler/2021/04/07/1617776640605048.jpg" alt="IPFS"/></p>
<p>CrossFi, an emerging DeFi project, released details of the agreement for cross-chain liquidity sharing solutions this week. </p>
<p>The development of the CrossFi protocol aims to provide liquidity for locked digital assets in heterogeneous blockchain networks. It uses interoperability technology to connect different assets across public chains and promote the further development of the DeFi field. Some modules in the project, a one-stop lending platform based on Filecoin, are planned to be launched in mid-April. At the same time, liquidity mining of the native ecosystem token CRFI will be launched, and CrossFi is also working hard to become the first choice of users. FIL lending platform.</p>
<p>Throughout 2020, DeFi has experienced rapid growth in user popularity. Technological innovations based on key infrastructure, smart contracts and token economics have stimulated collective lending, which has given birth to high-return liquid mining and digital assets. Synthesize, and implement the integration of digital assets that lack liquidity to obtain additional shared liquidity. The two biggest developments in this field are the pre-launched &quot;lock-up&quot; of Ethereum 2.0 and the launch of the highly anticipated IPFS project Filecoin&#x27;s mainnet.</p>
<p>As far as ETH 2.0 is concerned, more than 3.6 million ETH (approximately US$7 billion) have been pledged, and there is currently no option. For Filecoin, miners must pledge FIL tokens to receive mining rewards. The rewards are locked for 180 antennas and the pledged tokens need to be locked for 540 days. <strong>This kind of lock-in and linear release leads to the slow expansion of DeFi due to the decrease in the amount of liquidity in the market; this is exactly the problem that the CrossFi protocol can solve.</strong></p>
<p>Regarding the launch of the project, CEO David Hong said: &quot;We are very happy to cooperate with some industry leaders in the DeFi field to bring CrossFi protocol solutions into the blockchain field, especially Filecoin ecosystem participants. We are committed to making digital assets More liquidity, and expand the capabilities of DeFi.&quot;</p>
<p>The basis of this protocol&#x27;s excellent interoperability is its use of the Multi-Asset Network Switching Protocol (MAP), which is not only a bridge between compatible public chains, but also an adapter network between incompatible chains. CrossFi&#x27;s multi-asset network adapter protocol will be a public chain jointly maintained by a series of independent network nodes. Each network node will run a unified optimized state transition function and consensus algorithm to ensure that the network can provide efficient and scalable services. It is used for cross-chain verification and transfer of assets. The chain effectively acts as a universal bridge, allowing the seamless transfer of encrypted assets from one public chain to another.</p>
<p>The key value CrossFi brings to the DeFi field is to provide liquidity for pledged digital assets similar to bonds. For example, Filecoin users can use the CrossFi protocol to lock their FIL on the filecoin network and mint the equivalent ERC20 compatible liquidity token cFIL. This is a two-way process, which means that users who want to unlock their pledged filecoin in the future must redeem it with the same amount of cFIL and complete the destruction of cFIL with a small settlement fee. Since the liquidity pool supported by the protocol has nothing to do with the chain, the result of asset exchange is actually zero delay.</p>
<p>As the bull market of cryptocurrency is still in full swing, the DeFi wave driven by blockchain is being positioned as a real substitute for traditional finance. In addition, as the speed and complexity of innovation continue to grow, more and more people join this wave, allowing speculators to realize that the significance of innovation is not to make people rich, but to truly return the control of wealth. Ordinary people.</p>
👍  , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , and 25 others
properties (23)
created2021-04-07 08:10:45
last_update2021-04-07 08:10:45
last_payout2021-04-14 08:10:45
cashout_time1969-12-31 23:59:59
total_payout_value2.986 SBD
curator_payout_value2.968 SBD
pending_payout_value0.000 SBD
promoted0.000 SBD
root_title"Understand CrossFi in one article-a DeFi solution for heterogeneous network mobility"
max_accepted_payout1,000,000.000 SBD
vote details (89)
@cryptoguru1 ·
Nice work on this piece, i will follow your work. Interoperability is the one of the limiting factors in the block chain space, and those projects which solve it with solutions which do not take away from the benefits of the underlying blockchains itself, will fly in my opinion.
properties (22)
created2021-04-10 17:20:39
last_update2021-04-10 17:20:39
last_payout2021-04-17 17:20:39
cashout_time1969-12-31 23:59:59
total_payout_value0.000 SBD
curator_payout_value0.000 SBD
pending_payout_value0.000 SBD
promoted0.000 SBD
root_title"Understand CrossFi in one article-a DeFi solution for heterogeneous network mobility"
max_accepted_payout1,000,000.000 SBD