Insight-the seventh issue of the DeFi series | Synthetic assets DeFi-X, opening a new DeFi paradigm

At 19:00 on November 10th, the seventh phase of the "Insight-DEFI Series" event hosted by Nova Club and co-sponsored by Kirin Fund began. The co-organizer of this event is Cryptogram Capital, which also received strong support from many mainstream media such as Cointelegraph Chinese.

NovaClub is an investment ecological alliance composed of mainstream institutions in the blockchain industry. It aims to unite the resources of alliance members to discover, invest and incubate more potential and valuable projects. The members of the Nova Club Investment Ecological Alliance will jointly build an investment ecology, grow together with the project, and jointly promote the positive development of the industry.

DeFi-X is a blockchain DeFi project, based on Ethereum's decentralized synthetic asset issuance protocol. These synthetic assets are guaranteed by the DeFi-X network pass TGX. As long as TGX is locked in a smart contract, synthetic assets XTokens can be issued. DeFi-X currently supports synthetic fiat currencies, cryptocurrencies (long and short) and commodities. Based on the user's contribution, the system will pay the transaction fees generated in the DeFi-XSwap exchange to TGX holders in proportion to encourage users to hold TGX. The value of TGX comes from the right to use the network and the collection of fees arising from TGX transactions.

In this issue of "Insight-DEFI Series", Nova Club Investment Relations Director Jiachen and DeFi-X global super node Herbert explored the synthetic asset DeFi-X that opened a new model of DeFi.


The main points of view shared by the guests:


1. DeFi-X, a synthetic asset, overcomes the shortcomings of traditional finance and will establish a complete, open and decentralized financial ecosystem.

2. Synthetic asset DeFi-X core function oracle machine calculates synthetic asset prices through multiple algorithms, providing a smoother trading experience.

3. Synthetic asset DeFi-X token TGX improves user income through clever Token model and profit model.


The following is NovaClub's compilation of all the content of the interview:


Jiachen : Can you tell us about the DeFi-X project and team?

Herbert : DeFi-X is a cross-chain compatible synthetic asset issuance and transaction protocol, which aims to establish a complete, open, and decentralized financial ecosystem. The entire system of DeFi-X consists of the following main functional modules: X Foundry, DeFi-XSwap, mortgage pool, fee pool, oracle machine and liquidity mining.

The DeFi-X team is a PhD team from Stanford University, Yale University and Massachusetts Institute of Technology. The core members of the team have worked in Google, Oracle, JP Morgan and other companies. The team has more than 70% PhDs. Many developers have more than ten years of development experience, and there are some early adopters of Ethernet.


Jiachen : What drawbacks of traditional finance does DeFi-X solve?


• Discriminatory financial services.

• Unnecessary supervision and review.

 • Distressed by counterparty risks.

 • Lack of necessary transparency.


Jiachen : What are the differences and characteristics of DeFi-X compared to other DeFi projects?


•Enable every ordinary person to enjoy economic freedom to the utmost extent and obtain autonomy and equal financial services.

• Use the assets held in its portfolio to achieve zero barriers to global asset investment

 •Get passive income


Jiachen : What are the core functions of DeFi-X?


Prize pool

Use real network tokens to provide economic incentives for early participants. These tokens will be evenly placed in the bonus pool. The purpose is to attract the attention of enough miners/validators and developers to incentivize the growth of the network during the startup phase . The reward activities of the test network have become an important tool and key opportunity for the team to guide early participation. Blockchain is naturally global, anyone in the world can participate

Debt pool

When TGX holders mint or destroy XToken, the system will track the debt pool (and the debt of each mortgagor) by updating the "cumulative debt incremental ratio". This method can measure the last time the TGX mortgagee was in the debt pool The percentage of debt system uses this information to determine the debt of each mortgagee at any point in the future without actually recording the changes in each mortgagee's debt.


The oracle is a key part of the project, because the prices of all contract transactions need to be read from the outside. Initially, DeFi-X will use the centralized predictor provided by the project team, and in the future, more secure decentralized predictors will be introduced. Currently, the value of all synthetic assets in the DeFi-X system is determined by an oracle, which automatically pushes asset prices up the entire chain. It uses an algorithm with multiple sources to form an aggregate value for each asset. It is currently run by the DeFi-X team and plans to decentralize it in the future.


Jiachen : Can you introduce DeFi-XSwap of DeFi-X?

Herbert : DeFi-XSwap is a multi-synthetic asset decentralized exchange built on the DeFi-X ecosystem. Users can trade through DeFi-XSwap, and the counterparty is no longer a traditional centralized CEX. No transaction record means that all transactions are executed under smart contracts, which are called P2C (Peer-to-Peer Smart Contract) transactions. Can be traded through DeFi-XSwap exchange. The price information provided by the Oracle (Oracle) allocates exchange rates to assets for asset conversion.

Therefore, on DeFi-XSwap, users can conveniently trade various synthetic assets at the price provided by the oracle, without having to consider slippage or depth restrictions. In order to provide users with a smooth and decentralized transaction experience, the DeFi-XSwap transaction smart contract suite is installed on the EVM-compatible blockchain system, so that transactions can be confirmed instantly. Issuing synthetic assets and trading synthetic assets are the two most important functions of DeFi-XSwap, corresponding to users as collateral and traders.


Jiachen : Can you briefly describe the highlights of DeFi-X's TGX token design?  

Herbert : DeFi-X is designed for the Token model, especially in three ways. The inflation model encourages TGX holders to lock in and become bankers, earn income and withdraw promises to support the TGX price, while cash pool rewards facilitate the anchoring of the composite to real digital tokens.


Jiachen : What is the liquidity mining plan and profit model of DeFi-X's TGX token ?

Herbert Working Capital Mining Plan



Profit model

The logic of TGX income calculation uses the "Bézier curve" invented by French mathematician Pierre Bézier, which laid the foundation for computer vector graphics. The point is that both straight lines and curves can be described mathematically.



Jiachen : Regarding the layout of the entire DeFi-X ecosystem, what plans does the team have?


  • DeFi-XChain

DeFi-X Chain is a synthetic asset public chain, which supports the chain to execute various DApps, issue tokens, cross-chain, etc.


  • DeFi-X Pay

 DeFi-X Pay is a platform that can make land payments through synthetic assets issued by DeFi-X and will be used in shopping malls, hotels, international remittances, insurance, physical delivery, etc.


  • DeFi-XFinance

DeFi-X Finance will combine the characteristics of decentralized finance and expand to traditional finance to match financial services, such as loans, insurance, exchanges, stable currencies, banks, hedge funds, etc.


  • DeFi-XGame

DeFi-XGame refers to embedding the DeFi-X protocol into online games, and connecting coins, props, equipment and even accounts in different online games through the DeFi-X protocol, so that these virtual items that initially have no asset attributes become visible in the chain , Transferable and tradable crypto assets. We can even split the ownership, use rights, and profit rights of rare items through DeFi-X smart contracts for further development, which can bring more new gameplay. For example, a high-level player can rent his equipment stone equipment to a low-level player, and collect rent or share the revenue from the player, which can greatly enrich the fun of the game and increase the player's stickiness.



Jiachen : Finally, I feel DeFi-X global super node Herbert shared the DeFi-X project. Thanks to the co-organizer of this event, the Kylin Fund, the co-organizer, Cryptogram Capital, and friends in the media for their strong support! See you next time!

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