Topic: CoFiX 2.0 has launched on Gate Exchange to boost the computable finance ecosystem — CoFiX 2.0 has completed 5000 ETH sellback

Time: July 14th, 2021 11:00 AM UTC

Host: JoJo

Guest: YT

AMA Planning: Zhiyu

Purpose: To mobilize the enthusiasm of community members, cooperate with the Gate Exchange, and let everyone know more about the V2 version

Opening remarks: CoFiX V2.0 has been running smoothly for two months. There are three trading pairs for CoFiX V2.0 mining: NEST/ETH, USDT/ETH, HBTC/ETH. In addition to market-making mining, it also introduces arbitrage hedging mining. The mechanism innovation also ushered in cooperation with…

On the 2nd of July 2021, at exactly 11:00 AM (UTC+0), Yuyi, the Chief Advisor of NEST Protocol system and John Wang, Founding Member of Poly Network, disseminated the full details of the cross-chain cooperation reached by NEST Protocol and Poly Network.

This AMA took place on the NEST Protocol telegram community.

From the Live AMA with the NEST Chief Advisor Yuyi and Poly Network Founding Member, John Wang, this recap has been carefully drafted to ensure the full grasp of the information.

GUEST INTRODUCTION

John Wang: John is responsible for the Ecosystem Growth of Poly Network, with many years…

According to NEST LABS news, the oracle project NEST Protocol announced a strategic partnership with Poly Network, a cross-chain interoperability protocol. The two parties will jointly deploy a secure and efficient cross-chain bridge.

NEST Protocol will use Poly Network’s underlying cross-chain technology on NEST Token using one-click cross-chain tool Poly Bridge to realize the rapid interoperation and transfer of two chains between Ethereum and BSC, and opens up the mutual exchange of multi-chain assets, providing technical support for NEST Token’s entrance to the DeFi ecosystem of BSC community.

In the future, both parties will cooperate deeply on the establishment of more cross-chain bridges for other native assets and NEST Token in the NEST Protocol ecosystem to conduct in-depth cooperation on the free exchange of mainstream assets on different chains and the interaction of DeFi.

First segment : Introduce

  • Questions :

Can you introduce yourself @Heathersyt To our community?

Sabrina :

I am the NEST Community Manager that help with partnership development.

Second segment : Questions from AMA hosts

  • Questions 1 :

Could you explain a little about NEST and what Is make it different From another Project?

Sabrina :

Just talked about the advantages and features of NEST, the summary is as follows:

1, Price data with accuracy, sensitivity, defensibility.

2, The ability to validate price data directly and the validators can be any third party with no threshold.

3, NEST oracle network system…

🐋 TELEGRAM AMA: Im Community & Nest-Protocol 🐋
⏰ AMA Timing : 16 June 2021 l 10:00 AM UTC l 17:00 GMT+7
Venue For AMA : https://t.me/imcommunityitw

🎁 Reward Pool 100 USDT

Bà Tân | : Welcome @Heathersyt from Nest-Protocol

Bà Tân | : Welcome everyone. Today Im Community will host AMA with Nest-Protocol.

Bà Tân | : Today our guest is: @Heathersyt from Nest-Protocol.

⁽⁽ଘSabrinaଓ⁾⁾ : Hello, every one! My pleasure to be here for AMA with IM Community.

⁽⁽ଘSabrinaଓ⁾⁾ : I am the NEST Community Manager that help with partnership development.

Bà Tân | : Please introduce yourself…

According to the last release of the NEST future plan, it is currently between 3.6 and 4.0. We are re-releasing the overall NEST plan again because we have a new perspective on NEST, and because corrections regarding the dynamic parameters of NEST will be carried out in advance, therefore, we have made some adjustments to the long-term and the short-term plan, which are presented for community discussion:

I. NEST long-term planning

NEST 4.0: solving the problem of random mining

Interpretation: NEST mining is currently an auction model, the model itself is fair, but because of differences in miners’ techniques, rises…

The concept of CoFiX: Computable Finance

Over the past decades, various financial experts have been researching computable finance with the expectation of quantifying all financial risks and designing the most efficient financial system. However, before the availability of blockchain, counterparty risk and liquidity risk could not be quantified and thus plenty of very excellent Quantitative Funds would fall on these two risks.

With blockchain, smart contracts replacing centralized reliable third parties to execute various agreements effectively prevents counterparty risk, and the interoperability of smart contracts effectively removes liquidity risk. …

In order to expand the application scenario of NEST, we are pleased to cooperate with dForce to make NEST readily available by listing NEST Token (the native token of NEST oracle) on dForce first.

The ecosystem is already established with nearly 1.9 billion NEST Token produced. There are opportunities for other QP Token and native assets of DeFi Protocol in the NEST ecosystem to participate in the collateralized lending on the dForce platform so that both parties can realize the vision of a win-win community partnership.

NEST’s proposal on the dForce lending platform requires community members to comment and praise…

The specific modifications to CoFiX v2.0 are as follows:

1. Add hedging mining to solve the problem that users require manual hedging in v1.0. After the upgrade, liquidity providers can go on market-making with almost no impermanent losses.

2. Optimize the risk calculation algorithm and propose dynamic calculable K values and more refined hedging costs to improve the system's overall security.

3. Eliminating mining of ordinary transactions. Only hedging transactions can be rewarded with CoFi Token.

4. the dividend model will be changed to a resale model, and the resale function will be added in later versions.

5. For pools…

  1. Open the following URL in Chrome. (official website: www.parasset.top, choose Ethereum Main network)

NEST Protocol

Nest Protocol is a decentralized oracle built on Ethereum and powered by the NEST token. The protocol is a distributed price oracle network.🌍

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store