Insight-the first phase of the DEFI series-why Golff can stand out in the wave of DeFi innovation.
1. Golff is committed to building a one-stop encrypted bank and is committed to creating a lightweight, open and free financial world where everyone can participate.
2. The usage scenarios of Golff governance token GOF are mainly divided into gaining income and participating in governance. In addition, as the core governance token, GOF can participate in voting to determine liquidity mining parameters, product iterations, behavioral incentive parameters, and tokens through pledges. Economic model parameters, etc., have rich application scenarios and uses.
3. Golff creates a full-line one-stop DeFi product and other initiatives to attract users, increase revenue while increasing user stickiness, bring users a better experience, and create a financial giant on the chain.
4. Golff has an excellent liquidity mining mechanism and token governance model.
The following is Nova Club's collation of the entire interview:
Xiaotong: Briefly introduce what Golff is.
Ding Yunpeng: To understand what Golff is, I must first talk about the birth of Golff. Several people in our team got together to discuss DeFi once and thought that DeFi was the first application in the decentralized world after Bitcoin. We firmly believe that DeFi will go out of the Crypto circle one day and become the trend of open finance. We must do something in it. The members of the Golff team have been deeply involved in the blockchain for a long time and have a keen insight into the industry and a solid spirit of work. We also firmly believe that everyone should have equal access to quality financial products and services. Golff was born. Golff aims to build a one-stop encrypted bank, committed to creating a lightweight, open and free financial world where everyone can participate.
Xiaotong: Golff started liquid mining at 8pm on Wednesday night. The total pledge deposit amount for one hour is close to 100 million U.S. dollars. According to the current total pledge ranking of Defi projects, it ranks 13th, which has been caused by the media and the community. Strong influence, what is the inherent motivation for Golff to be favored by institutions and users?
Ding Yunpeng: It is indeed very hot. Most of the people in the circle have participated in Golff's mining. Such popularity has indeed exceeded our expectations. Before the launch, we paid more attention to the product experience and the arrangement of subsequent iterations. This kind of heat is unexpected but it is reasonable. I think it may be due to the following factors.
First, the design of our Farm has been recognized by the market. Our mining has a promotion mechanism, which greatly stimulates the communities of various currencies. In addition, our product experience is very smooth, and the UI design also takes into account both Chinese and Western users. The currency selection of our mining pool also covers the largest domestic DeFi community, an old domestic public chain, and an exchange with a large user base. This allowed us to get the attention of these communities from the beginning.
Second, the market has great expectations for the later product planning of golf. What golff will build in the follow-up is a one-stop encrypted bank, including mining, machine gun pool, insurance, and lending, to build a financial giant on the chain. This makes many users look forward to the future of Golff, so they are willing to participate in the earliest stage.
Third, GXB's brand influence and community are indeed very strong. Golff was incubated and led by Gongxinbao. Gongxinbao has always been pragmatic and technically assigning points to Golff's more competitive brands. It also allowed Golff to gain the attention of a large number of community users early.
Fourth, the team's super high execution ability. From the announcement of Golf to the launch of the product in just a dozen days, the team completed a series of product optimization, investment institution docking, product and operation document input. GOF has been included in the Defi section of well-known websites including CMC/Coingecko and launched. Design and development of follow-up products for mainstream exchanges including Huobi. The team's day and night effort and output will still be seen by the community.
Xiaotong: As the governance token in the GolffDeFi open financial system, what are the specific usage scenarios and uses of GOF ?
Ding Yunpeng: The usage scenarios of GOF are mainly divided into gaining income and participating in governance. Staking GOF tokens can be used for liquidity mining, while using GOF to provide liquidity on DEX can also get GOF rewards. In addition, as the core governance token, GOF can determine liquidity mining parameters, product iterations, behavioral incentive parameters, token economic model parameters, etc. through pledge participation in voting.
In addition, GOF has a deflationary mechanism and system built-in purchasing power. Regarding the deflation mechanism, it is actually that Golff will use all the profits of the team to buy back GOF in the secondary market and destroy it. The built-in purchasing power of the system refers to our revenue aggregator Vault products. We will convert all the revenues obtained from aggregating other DeFi products into GOF through DEX and distribute them to investors. This is the continuous GOF purchasing power built into the system.
Golff's three core products are income aggregator, financial enhanced insurance, and one-click aggregate lending. The income aggregator can capture the income of other defi products; insurance products can generate income from insurance premiums and handling fees; aggregated lending also has income from deposit and loan spreads and handling fee income. The Golff development team will use all the profits of the above products to buy back GOF. At present, according to Token Terminal data, many popular DeFi projects have begun to make profits. The first is Uniswap with an annual revenue of 139 million US dollars. The second and third places are Compound and Balancer, respectively, with annual revenues of 54.1 million US dollars and 4880. Ten thousand dollars. We believe that Gollf will catch up with these predecessors in the near future!
Xiaotong: The threshold of DeFi operation is too high, and the experience is very lagging and unsmooth, shutting out many users. The biggest challenge that DeFi faces is how to get users to participate faster and bring users better Service. How Golff solves this problem.
Ding Yunpeng: a. Low threshold, fast and smooth product experience
"Fool-style" product experience lowers the user threshold and allows users to smoothly complete the product process. At the same time, Golff also adopted two solutions to speed up and solve the problem of Ethereum blockage that affects user experience. The first option is to use Rollup-type layer 2 network (Layer2) extension, and the second option is to support a public chain with better performance through cross-chain, such as GXChain.
b. Multi-version, localized product design, while capturing Eastern and Western users
DeFi products are naturally an open financial system without borders. Users from all countries participate together. In order to provide users from all countries with product experiences that adapt to their respective cultures and usage habits, Golff will separately launch a more localized experience for users from the East and the West. And UI design products. This also allows Golff to overwhelm competitors in terms of product experience, attracting users and funds from all over the world.
c. Innovative gameplay to increase revenue while increasing user stickiness
As a DeFi aggregator, Golff will continue to innovate product design and gameplay while optimizing the aggregation of DeFi product portfolios to optimize revenue. Allow users to obtain financial benefits while also having social attributes and game-like experiences, thereby greatly increasing user stickiness.
d. A full range of products to build a financial giant on the chain
A DeFi product is a container of funds, and the size of the funds largely determines the value of this application. If you want to retain more funds in a DeFi container, it is very important to meet the different needs of funds. Therefore, Golff creates a one-stop DeFi product that meets all-round financial needs for funds, including liquidity mining, wealth management, insurance, lending, derivatives, etc.
Xiaotong: Golff 's vision is to let DeFi out of the Crypto circle. Everyone should have equal access to high-quality financial products and services. What is the future plan and roadmap of Golff?
Ding Yunpeng: Defi is not only doing it by Golff out of Crypto, but also a very good team. It has always been a game of stock funds before. The bull market that has been shouting for many years has become a slogan. Defi is a license-free open finance. The best way to solve the problem, with the advancement of technology to reduce costs/improve performance, and more Cefi embraces, such as the financial management of CEX’s release of Defi products, will greatly reduce the threshold for users, and users in traditional markets will accelerate entry and enjoy Dividends and services of the Defi Ecosystem.
This is the initial roadmap of Golff. With the efforts of the team, the realization of many products has basically been accelerated. For example, Vault will be launched two months earlier than planned. I believe that the Defi market is also accelerating and moving forward, truly enabling Defi out of the Crypto circle.
Xiaotong: Please tell us the following Golff's liquidity mining mechanism and its advantages.
Ding Yunpeng: Golff's liquidity mining mechanism and token governance model should represent the best autonomy model of Defi at present, and may become a template for Defi to enter the next stage. To give a few Golff data: Golff will be online for one hour on 9.9 The lock-up of funds exceeded US$90 million and exceeded US$100 million in two hours. The total amount of the highest fund pool reached US$200 million, surpassing many overseas star projects such as NMX/RENBTC/NEST. At present, the initial six mining pools have passed the election this week. The mechanism generates three KingPools. The amount of assets in a single WETH pool exceeds 50 million U.S. dollars, and it is successfully promoted to become a King Pool mining pool. After this period of King Pool ends, Golff will start the community autonomy voting on the mining pool 12 days later. GOF will Enter the era of community governance.
We will allow community users to participate in it through liquid mining. 95% of our GOF tokens are produced by liquid mining, and the team has no reservations and no pre-mining, which is a very fair and transparent way. Users come to obtain GOF and participate in Golff governance through GOF later. Liquidity mining will be divided into three stages. In the first stage, 6 pools are set up to produce GOF, and users obtain GOF by collateralizing some popular project tokens. In the second stage, we will upgrade the top three pools of mortgage pool amount to King Pool, and the number of pools will be reduced from 6 to 3, so the income of King Pool will double. The third stage is to encourage users to initiate proposals to open new pools by staking GOF. After the community votes are passed, the new pools can mine GOF. While achieving this part of community governance, it can also introduce supporters of other project ecology. Come and participate in Golff. In this way, community participation will be higher, and GOF will be more valuable.
Xiaotong: Major exchanges have also begun to introduce lock-in mining models. For example, Huobi announced the opening of "Locked HT/HPT to participate in DeFi liquidity mining", OK to open pledge mining, and Binance through its platform currency BNB to open "Pledge mining", etc. You also launched similar liquidity for centralized exchanges What do you think about the business of sex mining?
Ding Yunpeng: DeFi's openness and transparency and CeFi's speed and efficiency can complement each other. I think DeFi and CeFi are not two sides of finance, but two forces that are gradually converging in the financial world. Regarding suggestions, these two forces can focus on creating a better financial world and solving existing problems, instead of having to stick to CeFi or DeFi in a spirit of cleanliness. Problem solving is the first. For example, under the strong impact of this wave of DeFi, CeFi is already seeking to change the long-term problems of opacity, mistrust and moral hazard in the past, and use DeFi's product thinking to solve these problems.
For example, although Huobi/Binance and other platforms are centralized, their platform currency is also decentralized, and they are also actively deploying external ecology. Therefore, you will find that each platform is in the DEX wave of CEX platform currency. At the forefront, when the Defi project is launched, you must not rush to the revolutionary CEX idea from the beginning, especially in the cold start phase. Golff has a very clear understanding of this, so the first phase of the mining pool chose HT. It has attracted a large number of users and funds for Golff's ecology. The amount of users pledged for HT mining exceeded 15 million U.S. dollars, with a maximum of 20 million U.S. dollars. The HT of Kingpool pool pledged 12.3 million HT.
Regarding expectations, I hope CeFi can use DeFi to create a more transparent and trustworthy financial platform; CeFi, which has a large stock of users and smooth product experience, can collide with open and free DeFI to create more sparks to create a free and safe , Open and efficient financial world. This is also Golff's vision. The cooperation between Golff and Huobi is a collision between CeFi and DeFi.
Xiaotong: So what plans and plans does GOF have in the coming months? What plans does the team have to make GOF have more value support and market performance?
Ding Yunpeng: Our team is very confident about the pace of follow-up product launches. In addition to the ecological iteration of the product, our product launch arrangement also considers the value support for GOF. At present, we are launching incentives for GOF trading pairs on uniswap and balancer, which not only greatly enhances the trading depth and experience of GOF on DEX, but also locks some of the liquidity of GOF, and at the same time allows GOF holders to obtain mining income. Second. We will launch the Golff Vault machine gun pool product this month. The machine gun pool product will convert the aggregated revenue into GOF on DEX and return it to users. This will greatly increase the liquidity of GOF and increase the use of GOF. value. Third. Golff will start the community voting for the mining pool 12 days later, giving the GOF community the function of autonomous proxy currency, which is more widely used in the ecology. Fourth. Next month, we will launch insurance products and iterate the machine gun pool 2.0. We will use the profits from the machine gun pool and insurance products to buy back GOF in the secondary market. To put it simply, if you hold GOF, you will be able to board the big wheel of on-chain finance, Golff, and head towards the future era of great navigation together!
Xiaotong: Finally, I would like to thank Ding Yunpeng, a guest from the project team Golff, for his analysis of the DeFi track and the Golff project and sharing of development trends. At the same time, I would like to thank the Kylin Fund, the co-organizer VBlock , and the media for supporting Cointelegraph Chinese, especially Tokenism and Fruity Finance! Waiting for the strong support of many media, see you next time!