Sunday, January 10, 2021

DeFi For You. Technical Chapter | DFY token | DeFi For You

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WHITE PAPER - DeFi For You.™ Technical Document

8 DECEMBER 2020

Version 1.5

#DFY - DeFi For You.™

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INTRODUCTION

In this white paper, we will explain the profound benefits and our way to make them happen. This is year 2020 and DeFi hasn’t even started. Our vision is bold.

Our Mission to build a unique and groundbreaking service platform that gives our users the opportunity to purchase goods and financial services online using the #DFY blockchain token. The #DFY token is LIVE already today and works on both the legacy blockchain (Ethereum ERC-20) as well as on the just new state-of-the-art blockchain Binance Smart Chain™ (BEP20 which is 100% code compatible with the Ethereum blockchain ERC-20). #Binance DeFi software base protocol has exceeded our expectations from both quality and performance perspective. The migration from ERC-20 is seamless. As Ethereum struggle with scaling and may do for a few years to come, we expect the Binance Smart Chain™ to become a Ethereum “killer from a technical and

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a d o p t i o n p e r s p e c t i v e . There are 3 standards of DeFi tokens, BSC = Binance Smart Chain™ (BEP20), this is t h e b a s e

protocol where

we build smart

contracts on. There will be two token standards for the DEX trading (BP2 and BP8).

Over time we will more than likely run a combination of the two.

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You can purchase the #DFY token and hold in your “Trust Wallet”.

We have selected the “Trust Wallet” which you download at the Apple© AppStore™ or Google™Play (https://trustwallet.com/.

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We support Binance™ and have great experience with the #TrustWallet.

The #DFY token is not available for public purchase until launch of the DeFi For You.™ platform. The DeFi For You.™ corporation and holding company NxLux Club Limited is based in Vietnam.

The #DFY token is already in live operation. Final verification was completed in September 2020 . You can hold your #DFY Tokens in your #Trust wallet (downloaded from Apple or Google Play). You will not be able to transfer your #DFY tokens from your wallet until final software protocol verification has been completed.

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DeFi For You.™ - #DFY Token Distribution

The initially issued and sold ERC-20 tokens will automatically be transferred over to the Binance Smart Chain™ (#BEP20 blockchain).

Total amount of #DFY tokens issued (100%) = 1 billion;

• #DFY Tokens released to seed investors (5%) = 50 million

• #DFY Tokens available for sale (30%) = 300 million

• #DFY Tokens available for R&D, marketing and cost of sales (30%) = 300 million

• #DFY Tokens available for team, founders and future hires (15%) = 150 million

• #DFY Tokens Locked in DeFi For You.™ Treasury for 5 years by smart contract (20%) = 200 million

Demand for DeFi quality assets is increasing rapidly. We are expecting a significant demand from a market looking for quality DeFi token investments. DeFi For You.™ and #DFY lead the future of DeFi using #Binance blockchain technology.

REAL CUSTOMER VALUE DEFI FOR YOU.™

Taking a loan against collateral, with conditions closely tied to your reputation, has been around for a millennium with surprisingly little change.

Someone with no collateral and no reputation will probably not get a loan at all, if they do, it will be at a huge interest rate. From that baseline, conditions can be improved in two dimensions as follows;

Providing better collateral

• Collateral => Average conditions.

• A stable collateral => Good conditions.

• A stable an easy to repossess collateral => Excellent conditions.

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Proving a better reputation

A good reputation of the lender => better conditions.

Loan Conditions

Zero Collateral

Average Collateral

Good Collateral

No reputation

Very Poor

Poor

Average

Average reputation

Poor

Average

Good

Good reputation

Average

Good

Excellent

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Smart contracts introduced a rare improvement in that the collateral can be trivially repossessed, in fact extending the dimension 1 with a fourth level:

• Ideal collateral => ideal conditions

When cryptocurrencies are used as collateral, in combination with a smart contract, a collateral is created that is both value transparent, trivially and instantly repossessed.

In fact, this collateral is so good, that the reputation of the lender no longer matters. In the first phase of DeFi, this 2000-year-old-principle suddenly collapsed into:

Loan Conditions

Zero Collateral

Ideal Collateral

No reputation

No loan

Good

Average reputation

No loan

Good

Good reputation

No loan

Good

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With smart contracts using market data oracles and cryptocurrencies as collateral, the value said collateral can be assessed in real time, unlike in traditional finance where e.g. the value of a property that can be rather uncertain e.g. during times of financial crisis. An oracle in blockchain context just means a system that interfaces oﬀ-chain data such as trading information from a centralised exchange to the blockchain world.

Further, smart contracts enabled that cryptocurrency collateral to be instantly and trivially repossessed should the value fall below the threshold where the collateral no longer covers the loan. Again, compared to a property as collateral, this is a huge improvement.

Further, smart contracts enabled that cryptocurrency collateral to be instantly and trivially repossessed should the value fall below the threshold where the collateral no longer covers the loan compared to a property as collateral, this is a huge improvement.

As a result of these risk mitigating and operational advantages, suddenly a whole industry of “DeFi” emerged, where entities could oﬀer loans far at far better conditions than has ever existed in the traditional loan industry and with no requirement for credible reputation for the lender.

Initially, many critics claimed the entire DeFi space is a scam for oﬀering such “unsustainable conditions”, without understanding that there is a fundamental advantage over the traditional loan system, enabled by smart contracts as explained. While many initial projects were no doubt simple cash grabs, there is a genuine systematic eﬃciency and risk mitigation advantage enabled by this technology that manual traditional handling can never do, that is why better conditions can be oﬀered. People who have claimed that “crypto and DeFi is a Ponzi” have not taken the time to understand this in our experience.

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While this 1st phase of DeFi no doubt is one of the few huge inventions to this sector in two millennia, providing enormous and genuine value to millions of people already, we believe it can be taken to Phase 2 already now.

In our opinion, the concept of Reputation has not become irrelevant, it is a fundamental principal of humanity, spanning probably 100,000 years back and it will not go away.

DeFi For You.™ is an initiative to combine the innovations of DeFi Phase 1 with a new blockchain based reputation system and a few elements from the traditional lending and pawn world, creating a new complex as follows:

DeFi For You.™

๏ Competing loan providers on a transparent market

๏ Lender reputation system, irrefutably stored, updated and viewable on the blockchain

๏ Cryptocurrencies as loan collateral

๏ Physical assets as loan collateral

๏ Smart contract to enforce and administer loan repayment

Credit is one of the key enablers to modern society. One of our idols, Swedish industry legend Percy Barnevik, spent most of his later part of his life eliminating poverty in entire regions of the world with micro loans as the only tool.

Unfortunately, such funding and dedication is in short supply. Eventually even Mr. Barnevik’s fortunate ran out and in an interview he said that he wished he had made more money, so that he could have helped more people. (No aﬃliation, we are just fans.)

Without such initiatives, credit remains completely out of reach or available with only poor conditions to the majority of the world population today, not just in 3rd world countries, but also in the most advanced societies.

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In fact, it is at a point where people with a good reputation and collateral to oﬀer in advanced societies, still cannot get good loan rates because much of the traditional finance is stuck with a view where a life-long 9-to-5 job is expected, with modern work setups in the gig economy and social media being frowned upon as “not real jobs”.

Some FinTech companies have already begun disrupting this space by using other indicators than 9-to-5 salary to assess the likelihood of loan repayments, especially in China where apps like WeChat provide a gold mine of data with little privacy concerns.

For example, it has been found that people who answer the phone are more likely to repay a loan than people with a lot of missed calls. By combining 20 or so indicators, loan conditions can be set with great success.

We believe these ideas can be improved upon using smart contracts and the irrefutability and immutability of the distributed ledger (blockchain).

We believe better loan conditions can be oﬀered to lenders, at the same time as oﬀering higher profitability for the lenders.

We believe in creating a more inclusive credit system for the modern world.

We believe access to credit is one of the most important tickets to success today.

Most “crypto projects” don’t need a token or a smart contract. DeFi For You.™ is uniquely enabled by smart contracts and cannot be built without one.

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IN SUMMARY

We have created a decentralised loan economy on the blockchain, whereby the irrefutable reputation of the individual as verifiable on the public ledger (blockchain) is combined with type and terms of collateral to create a bid and ask economy setting the interest and terms of loans.

This is true decentralised finance. A traditional financial loan is inflexible and inaccessible to most people on earth. Blockchain has proven that there is a working use case in decentralising such financial services.

However, blockchain also comes with anonymity and trust-less, limiting the types of loans that can be issued, because in reality, some people are more likely to pay back a loan than others.

Trust and reputation still matters. DeFi For You.™ (#DFY) solves this, by moving an irrefutable, verifiable reputation system onto the blockchain and tying it together with the decentralised finance that during 2020 has become a massive industry worldwide.

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BUILT ON BINANCE© SMART CHAIN™

DeFi For You.™ has chosen to implement our protocol and smart contract on Binance Smart Chain, BSC.

BSC has the following characteristics:

• Compatible with the Ethereum Virtual Machine (EVM) and the Ethereum programming language Solidity, which opens to the largest ecosystem of developers, libraries, tools and know-how.

• Faster, Cheaper and better scalability than Ethereum because it relies on a variant of Proof-of-Stake called Proof of Staked Authority (PoSA) where there are a limited number of validators (up to 21) but anyone can stake BNB to become a validator.

• Blocktime 3-5 seconds

• Uses BNB for gas

Opponents of BSC could claim Binance Smart Chain it is less decentralised than Ethereum, but in our opinion it is decentralised enough and because of the higher speed, lower cost and better scalability, it works.

If we bring hundreds of millions of new users onto Ethereum with this application, Ethereum of today won’t work. While there are excellent improvements coming in ETH2.0, and ETH2 Phase 1 is soon here, many of the other improvements are still years away.

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We are not here to win a philosophical argument but to build a working product that provides real world value to millions or even billions of people and we can’t risk building that on a platform that might not scale to handle it in the timeframe we need it.

BSC also has other benefits, e.g. the DFY BEP20 token could also be paired with a corresponding BEP2 token on the Binance Chain BC, where sub second block finality is accessible.

BC adds the following key characteristic:

• Blocktime <1 second

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OUR IMPLEMENTATION

DFY Token Phase 1, BSC-BC Cross Chain

The DFY token implements the following requirements:

• The token is issued as a BEP20 and BEP2 Cross-Chain compatible token on the Binance Smart Chain (BSC) blockchain and on the Binance Chain (BC) blockchain.

BEP20 BSC Domain:

• Public token tracker, BSC: https://bscscan.com/token/0xd98560689c6e748dc37bc410b4d3096b1aa3d8c2

• Contract address: 0xD98560689C6e748DC37bc410B4d3096B1aA3D8C2

• Symbol: DFY

• Decimals: 18

• Max supply: 1,000,000,000 - in total BEP20+BEP2

• Initial supply: 1,000,000,000

• Additional minting possible in smart contract: No

• Initial circulating supply: 350,000,000

• The DFY phase 1 token code is based on the much trusted-

and-tried Solidity ERC20 template of of https://github.com/vittominacori adopted for BEP20.

• The DFY phase 1 token is open source available on https://github.com/defi-vn

• In a previous iteration, the team built the token as an ERC20 token on Ethereum, before migrating to BSC. Users received the equal number of DFY tokens by airdrop.

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BEP2 BC Domain

• Public token tracker: https://explorer.binance.org/asset/DFY-EA0

• Symbol: DFY

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• Additional minting possible in smart contract: No

Take note of the “Cross-Chain” badge on the first public token tracker link above. Each tokens can at any point of time exist either as a BEP20 token on the Binance Smart Chain, BSC or as a BEP2 token on the Binance Chain, BC (but not at the same time).

The Cross Chain capability enables the token to take advantage of both the EVM smart contract code execution on BSC and the 1 second block time of BC. Users can easily convert between the two modes inside e.g. the Trust Wallet app in an easy-to-use GUI and can easily keep some of the tokens in BEP20 BSC space and some tokens in BEP2 BC space, within the same wallet.

For the technically inclined, the mechanics of the conversion between BEP20 and BEP2

can be monitored for the ecosystem here:

BEP20 BSC Token Hub:

https://bscscan.com/address/0x0000000000000000000000000000000000001004

For example under:

https://bscscan.com/token/0xd98560689c6e748dc37bc410b4d3096b1aa3d8c2#balances

Take note of the holder "BSC: Token Hub". That is the system contract that hold tokens sent to BEP2. It is also from where BEP20 tokens will be returned when a user converts from BEP2 back to BEP20.

Custom Token Functions DFY Token Phase 2 Reputation DeFi Loan - PAWN Use Case

This set of requirements creates a decentralised loan economy on the blockchain, whereby the irrefutable reputation of the individual as verifiable on the public ledger

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(blockchain) is combined with type and terms of collateral to create a bid and ask economy setting the interest and terms of the loan.

DF.301 - All custom token functions for the DeFi Loan - Pawn Use Case shall be issued in Solidity on the Binance Smart Chain blockchain.

DF.302 - Revisions of the smart contract code shall be enabled using the Upgrades Plugin from OpenZeppelins, https://github.com/OpenZeppelin/openzeppelin-upgrades

DF.303 - The custom functions for the DeFi Loan - Pawn Use Case shall initially be built as a separate smart contract revision on TestNet.

DF.304 - Following a period of stability and active usage, the separate smart contract for DeFi Loan - Pawn Use Case can be merged with the DFY BEP20 token, following a migration procedure to be exactly defined at a later date.

DF.305 - The smart contract shall have a function for issuing a Collateral Proposition, whereby the customer oﬀers an item as collateral for a loan, recorded on the blockchain.

DF.306 - The smart contract shall have a function for responding to a Collateral Proposition with a Loan Oﬀer, whereby a loan provider oﬀers conditions for the loan. Conditions shall include as minimum: Collateral Reference, Collateral Type, Interest, Duration. The loan provider will typically take the reputation value of the prospective customer into account. It is up to the loan provider what algorithm to use based on that input and other parameters, meaning oﬀers to the same collateral propositions from diﬀerent loan providers will typically vary.

DF.307 - The smart contract shall have a function for accepting a Loan Oﬀer, whereby the customer accepts the Loan Oﬀers. After acceptance two things shall happen as a

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single transaction, the collateral oﬀered shall be locked, and the loan shall be issued in cryptocurrency.

DF.308 - The collateral can be a physical item and the data stored on the blockchain is a legally binding agreement. It is up to the loan provider to set the terms of the loan, taking aspects such as default risk and ability to enforce the agreement into account. Typically the ability for the loan provider to collect the collateral could be uncertain, hence a higher interest loan could potentially be oﬀered.

DF.309 - The collateral can be a physical item and the customer needs to deposit the item at a designated partner facility. The data stored on the blockchain in this use case will be the deposit slip and the agreement. It is up to the loan provider to set the terms of the loan, taking aspects such as default risk and ability to enforce the agreement into account. Typically the ability for the loan provider to collect the collateral would be good in this use case, hence a lower interest could potentially be oﬀered.

DF.310 - The collateral can be a legally binding transfer, such as transfer of car or property ownership to the loan provider, whereby the data stored on the blockchain is a legally binding agreement. It is up to the loan provider to set the terms of the loan, taking aspects such as default risk and ability to enforce the agreement into account. Typically the ability for the loan provider to collect the collateral would be good in this use case, hence a lower interest could potentially be oﬀered.

DF.311 - The smart contract shall have a function for repayment of the loan, in part or full. If repaid in full, the transaction is ended and the reputation system is updated accordingly.

DF.312 - The smart contract shall have a function for handling loan defaults, at which point the transaction is ended and the reputation system is updated accordingly.

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DF.313 - A reputation system for loan providers shall be built on the blockchain, where anyone can validate its validity. The reputation system shall be centrally visible for all DeFi Loan use case flows.

DF.314 - A reputation system for customers shall be built on the blockchain, where anyone can validate the validity of the credibility score on the public blockchain. The reputation system shall be centrally visible for all DeFi Loan use case flows.

DF.315 - To qualify as a loan provider, a minimum number of DFY tokens needs to be held in the loan provider’s wallet connected to the person’s reputation score.

DF.316 - A percent of profits generated by the loan provider is deducted by the smart contract as a “gas fee” to run the decentralised DeFi For You.™ network whereby the smart contract uses these funds to perform an automated buy-back and burn of DFY tokens from the (at the time) dominating “UniSwap type” decentralised liquidity provider for BSC20 tokens. This creates a long term value from holding DFY tokens.

Custom Token Functions - Reputation DeFi Loan

Cryptocurrency Use Case

This set of requirements creates a decentralised loan economy on the blockchain, whereby the irrefutable reputation of the individual as verifiable on the public ledger (blockchain) is combined with cryptocurrency collateral to create a bid and ask economy setting the interest and terms of the loan.

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DF.401 - All custom token functions for the DeFi Loan - Cryptocurrency Use Case shall be issued in Solidity on the Binance Smart Chain blockchain.

DF.402 - Revisions of the smart contract code shall be enabled using the Upgrades Plugin from OpenZeppelins, https://github.com/OpenZeppelin/openzeppelin-upgrades

DF.403 - The custom functions for the DeFi Loan - Cryptocurrency Use Case shall initially be built as a separate smart contract.

DF.404 - Following a period of stability and active usage, the separate smart contract for DeFi Loan - Cryptocurrency Use Case can be merged with the DFY BEP20 token, following a migration procedure to be defined at a later date.

DF.405 - The smart contract shall have a function for issuing a Collateral Proposition, whereby the customer oﬀers cryptocurrencies as collateral, recorded on the blockchain.

DF.406 - The smart contract shall have a function for responding to a Collateral Proposition with a Loan Oﬀer, whereby loan provider oﬀers conditions for the loan. Conditions shall include as minimum: (Over-)Collateralization ratio, Interest, Duration. The loan provider will typically take the reputation value of the prospective customer into account. It is up to the loan provider what algorithm to use based on that input and other parameters, meaning oﬀers to the same collateral propositions from diﬀerent loan providers will typically vary.

DF.407 - The smart contract shall have a function for accepting a Loan Oﬀer, whereby the customer accepts the Loan Oﬀers. After acceptance two things shall happen as a single transaction, the collateral oﬀered shall be locked, and the loan shall be issued in cryptocurrency.

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DF.408 - Any BEP20 compatible cryptocurrency shall be supported as collateral, including BEP20 wrapped Bitcoin.

DF.409 - A set of BEP20 compatible cryptocurrencies shall be available as loan currency, including BUSD, BEP20 wrapped Bitcoin and BNB.

DF.410 - The smart contract shall have a function for liquidating the cryptocurrency collateral based on the agreed collateralization and other terms.

DF.411 - The smart contract shall have a function for repayment of the loan, in part or full. If repaid in full, the transaction is ended and the reputation system is updated accordingly.

DF.412 - The smart contract shall have a function for handling loan defaults, at which point the transaction is ended and the reputation system is updated accordingly.

DF.413 - A reputation system for loan providers shall be built on the blockchain, where anyone can validate its validity. The reputation system shall be centrally visible for all DeFi Loan use case flows.

DF.414 - A reputation system for customers shall be built on the blockchain, where anyone can validate the validity of the credibility score on the public blockchain. The reputation system shall be centrally visible for all DeFi Loan use case flows.

DF.415 - To qualify as a loan provider, a minimum number of DFY tokens needs to be held in the loan provider’s wallet connected to the person’s reputation score.

DF.416 - A percent of profits generated by the loan provider is deducted by the smart contract as a “gas fee” to run the decentralised DeFi For You.™ network whereby the smart contract uses these funds to perform an automated buy-back and burn of DFY

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tokens from the (at the time) dominating “UniSwap type” decentralised liquidity provider for BSC20 tokens. This creates a long term value from holding DFY tokens.

The Access Gateway

The DFY smart contract and its token creates a decentralised economy. The DeFi For You.™ company or its founders does have any monopoly access to a public smart contract. On the contrary, we want to encourage more parties to create websites, apps and other gateways into this new decentralised economy.

We will simply build an open source reference interface in the form of a website accessing the decentralised smart contract, which other developers can use as template in creating their own frontend.

DF.501 - The reference interface shall oﬀer a search and alert function for loan providers to find Collateral Propositions published on the blockchain.

DF.502 - The reference interface shall oﬀer the loan providers the ability to publish a Loan Oﬀer on the blockchain in response to to a Collateral Proposition.

DF.503 - The reference interface shall oﬀer a search and alert function for customers to find Loan Oﬀers published on the blockchain issued in response to their Collateral Proposition.

DF.504 - The reference interface shall oﬀer a function to accept a specific Loan Oﬀer on the blockchain and thereby reject competing Loan Oﬀers.

DF.505 - The reference interface shall oﬀer functionality for informing both parties of a liquidation event on the blockchain.

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DF.506 - The reference interface shall oﬀer functionality for handling repayment of the loan, in part or full.

DF.507 - The reference interface shall oﬀer functionality for informing both parties of a loan default event on the blockchain.

DF.508 - The reputation of the loan provider shall be centrally visible on the reference interface for all DeFi Loan use case flows.

DF.509 - The reputation of the customer shall be centrally visible on the reference interface for all DeFi Loan use case flows.

DF.510 - The reference interface shall guide the loan provider through the process of depositing the required number of DFY tokens into the loan provider’s wallet connected to the person’s reputation score.

DF.511 - The reference interface shall oﬀer complete accounting per transaction, including the the buy-back and burn of DFY tokens contributed by the transaction.

DF.512 - The reference interface shall be released as open source code on GitHub.

DF.513 - The reference interface open source documentation shall describe how each of the custom token functions shall be accessed.

DF.514 - There shall be no proprietary codes or secrets in the reference implementation, meaning anyone shall be able to call decentralised economy smart contract functions directly for a new type of truly decentralised, credibility based, world-wide loan economy on the blockchain.

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Discussion on “Anonymized Reputation Systems with Zero Knowledge Proofs” - The First Real Application?

In his Endnotes on 2020, Vitalik Buterin wrote: “we're increasingly moving toward anonymized reputation systems with zero knowledge proofs” https://vitalik.ca/general/2020/12/28/endnotes.html

There has been a few discussion papers, articles and implementations on the topic of

reputation systems on blockchain over the years. A few notable are:

https://manishearth.github.io/blog/2016/08/14/fun-crypto-problem-designing-an-

anonymous-reputation-system/

https://ethresear.ch/t/anonymous-reputation-risking-and-burning/3926

https://github.com/barryWhiteHat/semaphore

https://eprint.iacr.org/2018/835.pdf

The central component of the Pawn / Loan system described and being implemented by the token is the anonymized reputation system.

It is a non-trivial problem to solve, but it is solvable, as the article authors above realized years ago. However, to our knowledge, it has not been put to real use yet. We hope DFY will make be the first application that takes this idea to its full potential and to scale.

We wish to make the continuous refinement and extension of the reputation related requirements a key community mission.

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Is MetaMask Issuing Tokens? The Growth History of Ethereum’s Top Wallet

Written by the CoinEx Institution, this series of jocular and easy to understand articles will show you everything you need to know about major cryptocurrencies, making you fully prepared before jumping into crypto!

https://preview.redd.it/4jww0r5mtma61.jpg?width=1000&format=pjpg&auto=webp&s=22f2c97321a2cdea27aea3108d0cc7b094577741

On January 6, 2020, a video about MetaMask Swaps was posted on MetaMask’s official Twitter, followed by a teaser tweet, by Shapeshift CEO Erik Voorhees, with a logo that resembled the MetaMask brand logo. The correlation between the two events has led to speculation in the crypto community about the issuance of MetaMask. The news spread quickly in the crypto community, which pushed almost all blockchain media to publish reports on MetaMask tokens. Insightful users began to operate MetaMask-related interaction in advance to get an airdrop of MetaMask tokens.

Yet careful users found that Shapeshift had released a project called “FOX” whose logo was exactly the little fox logo in Erik Voorhees’s teaser tweet. In this regard, it was believed that his tweet probably came as a teaser ad for the company’s project, yet the resemblance between its logo and MetaMask sent out a wrong message that MetaMask might issue coins. That made for this incident.

To figure out the truth, ChainNews, a Chinese blockchain media, consulted ConsenSys, MetaMask’s parent company, and got a definite answer that MetaMask had no plan of issuing tokens.

This incident also reveals the widespread popularity MetaMask enjoys as the top Ethereum light wallet in the global blockchain industry. Even the slightest move of MetaMask can trigger extensive discussions in the community.

History of MetaMask

MetaMask is known as the best and most useful Ethereum open-source wallet in the world, which can help investors manage their Ethereum assets easily. Without downloading a client, users only need to add MetaMask to the explorer extension. Its ease of use saves the computer memory, and at the same time it can test the functions of Ethereum smart contracts, and support the most Dapps. Its features also include compatibility with hardware wallets Ledger and Trezor as well as one-click token issuance. All of these make the most lightweight Ethereum wallet welcomed by the Ethereum community upon its release.

The parent company of MetaMask is ConsenSys, one of the “three blockchain pillars” founded by Ethereum co-founder Joseph Lubin, a champion of the cause of Ethereum’s ecosystem construction. ConsenSys has incubated more than 50 well-known projects conducive to the growth of the Ethereum ecosystem over the years since its establishment, covering core integrated components, services, developer tools, infrastructure projects, B2C Dapps, corporate solutions, and multi-platform applications. At the same time, this company has promoted Ethereum to the mainstream world through close cooperation with government organs, financial institutions, Internet giants, and other entities.

Projects Incubated by ConsenSys

MetaMask is a key project in the infrastructure of the six business sectors of ConsenSys. There have been reports that MetaMask did not receive much support from ConsenSys in its development, as revealed by its contributors, but such notions have been denied by Daniel Finlay, the lead developer of MetaMask, who gave ConsenSys and the founder Joe Lubin credit for their great support.

Judging from the 2020 annual review report of ConsenSys, MetaMask literally remains one of its highly strategic product lines.

ConsenSys’s Six Strategic Product Lines

Despite the many episodes in the development and team running-in, MetaMask has been performing well ever since its release, which could not happen without the excellent team behind it. The MetaMask team is mostly from the Internet giant Apple. The founder Aaron Davis and the lead developer Dan Finlay are friends and used to work for the same company. Aaron Davis entered the blockchain industry through the Bitcoin community activities, and then engaged in the Ethereum ecosystem construction out of his faith in the concept of Ethereum. The MetaMask team has only 25 members, but they have an overall and clear division of labor, covering all positions from marketing, development, product, operation, and design. In addition, MetaMask has community contributors across the world to cooperate with the team to promote MetaMask to global crypto users.

Illustration: MetaMask Team Members

On August 11, 2018, MetaMask officially launched the Chinese version and was quickly launched in 360, Baidu and other first-tier explorer application markets in China. MetaMask’s official Chinese name is “数字面具”, literally the Digital Mask. Interestingly, it is nicknamed “little fox” in the Chinese community due to the popular brand logo, a 3D fox head. It is said that the main designer had prepared various versions of a fox head, and the team eventually chose the mask-shaped 3D image as the official logo after many discussions.

The past experiences have proved that unique and distinctive brand logos enjoy a great advantage in marketing as they can always leave people a memorable impression. Witness UniSwap’s pink unicorn and MetaMask’s 3D fox head, among all the unique and novel logos. That also serves as a good example for the later blockchain projects in designing the brand logo for the benefit of brand promotion.

https://preview.redd.it/kup22ttztma61.jpg?width=400&format=pjpg&auto=webp&s=c56a354b0fd73fe935aff09185f9664cd93bc17e

Indeed, an impressive brand image helps make for outstanding projects, but in the end, users stay for an “aha moment”, literally the “sweet spot” where users feel the value of the product the first time they use it. MetaMask’s “aha moment” is different from that of most Ethereum wallets on the market. It is so light and easy to use that users can access the entrance to Ethereum through an explorer, subverting the inherent impression of blockchain investors on wallets.

However, the mobile Internet market represents the ultimate trend of the times. To meet the needs of different regional markets, MetaMask eventually launched the mobile end in its progress, which serves as a catalyst for its expansion in the Chinese market where the mobile Internet is highly developed.

With such evident advantages as the unique and distinctive brand image and outstanding product features, MetaMask only needs one or two opportunities to stand out. Actually, it has seized two golden opportunities arising from market conditions during the past development.

MetaMask’s First Boom

As we all know, 2019 is a cold winter for the cryptocurrency industry when the continued decline in token prices has thrown the crypto market into long-time sluggishness. Fortunately, the next year witnessed significant progress in the development of the Ethereum ecosystem. The DeFi, the network, Dapps, and the developer ecosystem have all secured good results. The Ethereum network has more than 520 new Dapps, over 20 million new accounts, and 400,000+ new active addresses. At the same time, concept projects such as DeFi, NFT, and DAO that were to go viral in 2020 have also achieved explosive growth in the amount of locked assets in 2019.

The prosperity of the Ethereum ecosystem has promoted a surge in demand for its infrastructure, and innovative products such as MetaMask have become the first smash hit. With the development of the Ethereum ecosystem, the launch of the privacy model and the improvement of functions, a growing number of people came to notice MetaMask, creating excellent conditions for this project to break through new milestones. In 2019, MetaMask revealed in its update on project dynamics that its user population had exceeded 1.3 million.

That was the first boom of MetaMask.

MetaMask’s Second Boom

Although all attempts to promote DeFi turned out to be in vain in 2019, the construction of the DeFi ecosystem still paved the way for its rise in 2020. In June 2020, the COMP token of the DeFi lending project Compound skyrocketed, with its price rising ten-fold overnight. The era of DeFi has officially kicked off. From June 2020 to October the same year, the DeFi field has flourished and stayed in the limelight.

With the popularity of DeFi, the lock-up amount in the DeFi agreement has increased from USD 700 million at the beginning of 2020 to USD 15 billion in December. The crypto market has witnessed the birth of countless outstanding projects overnight: decentralized transaction protocols, decentralized lending, decentralized insurance… Driven by the high profits within a short time, global crypto users have poured into the Ethereum network for yield farming, staking, and transactions, further stimulating the user activity of the Ethereum network throughout last summer. On September 17, 2020, the daily trading volume of Ethereum exceeded 1.4 million, hitting a record high.

Figure: Booming DeFi, with Continuously Rising Ethereum Network Transactions

Numerous new DeFi projects and DeFi digital assets on Ethereum herald a surging demand for wallets. As the leader in Ethereum wallets, MetaMask has been favored by vast users.

According to NewsBTC, there is a positive correlation between the growth of MetaMask monthly active users and the growth of total value locked in DeFi, as suggested by the comparison of the two curves.

MetaMask Monthly Active Users & Total Value Locked in DeFi

Obviously, the prosperity of the DeFi market is just one of the reasons behind the growth of MetaMask users. According to media analysis, the second boom of MetaMask is closely related to the hit UniSwap. Last summer, the decentralized trading protocol represented by UniSwap appeared on the scene. With a daily turnover of more than 1 billion US dollars, UniSwap surpassed the exchange giant Coinbase Pro and later the first-tier trading platform Binance. Back in 2019, the DEX trading volume accounted for a mere 1% of the global cryptocurrency trading market, and the remaining 99% was occupied by major centralized exchanges. Yet the arrival of the DeFi frenzy has completely changed the situation and pushed DEX to success in 2020. According to Dune Analytics data, the monthly trading volume of decentralized exchanges (DEX) in September 2020 has soared to more than 10 billion US dollars.

As the largest trading platform in the DEX segment, UniSwap has more than 140,000 users in August last year, occupying 46% of the market share of decentralized exchanges. Users who have participated in DeFi projects and DEX transactions know that wallets are an indispensable tool for linking DEX and DeFi projects to facilitate investors in asset management, storage, and transfer. Due to its simplicity, lightness and privacy, MetaMask has been favored by the most investors among all wallets that support Wallet Connect. Almost all investors who engage in yield farming on DEX on the Ethereum chain take MetaMask as the first choice.

Some media even directly attribute the growth of MetaMask to the popularity of decentralized protocols such as UniSwap. In September 2020 when UniSwap announced the issuance of coins and airdrops to all users who have used UniSwap before September 1, the number of MetaMask’s monthly active users has reached a new milestone. On October 6, 2020, MetaMask announced on its official Medium account that its web-based and mobile ends had received more than 1 million monthly active users, compared with 264,000 users a year ago, a 400%+ increase.

Growth Curve of MetaMask Monthly Active Users

In this article, the team also recognized the huge role that the development of the Ethereum DeFi ecosystem had played in MetaMask’s user growth. With the DeFi boom receding over time, the MetaMask era has just begun.

At this point, MetaMask has embraced its second prosperity and risen to the throne.

Postscript

In December 2020, ConsenSys announced a new MetaMask product for institutional users, as a supplement to its past services mainly for consumers. MetaMask institutional edition will effectively expand business resources such as trading companies and cryptocurrency custodians. Researchers believe this marks another attempt by ConsenSys, after MetaMask Swap, to commercialize the traffic through partnerships with institutional users to provide financial services. Only in this way can MetaMask secure sustainable, further development.

In any case, if competitors fail to launch more surprising products in the short term, the segment of Ethereum light wallets will remain in the grasp of MetaMask.

References:

How Uniswap & DeFi Drove Ethereum Wallet MetaMask To 1M Users — Tony Spilotro

Top Ethereum Wallet MetaMask Hits Milestone Despite DeFi Slowdown — Nick Chong

Analysis of the Development of the Ethereum Ecosystem in 2019 — Blue Fox Notes

ConsenSys: One of the Most Important Companies in the Encryption Industry — Frog AOA

About CoinEx

As a global and professional cryptocurrency exchange service provider, CoinEx was founded in December 2017 with Bitmain-led investment. It is a subsidiary brand of the ViaBTC Group, which owns the fifth largest BTC mining pool, which is also the largest of BCH mining, in the world.

CoinEx supports perpetual contract, spot, margin trading and other derivatives trading, and its service reaches global users in nearly 100 countries/regions with various languages available, such as Chinese, English, Korean and Russian.

Bitcoin Bull run Over? NO, It's just starting!!

First and foremost, I am not a financial advisor. Do what you want with your money, I couldn't care less. I look at facts and base predictions around those facts. If you see flaws in my logic, feel free to comment, I always am looking for different perspectives that I may have not thought of. At the end of the day, you proving me wrong is ultimately going to save me money.

I am hearing a lot of talk from people believing that this bull run is coming to an end. From my experience in the traditional and crypto markets I do not find that to be the case. Here are the reasons that I believe that bitcoin (and altcoins) are just getting started.

1.) Liquidity = Gains: There has been a lot of liquidity being added both into the traditional and crypto markets over the last few months. From federal stimulus to Tether printing more USDT, both are creating massive amounts of liquidly to the market. With Biden expecting to push a multi-trillion dollar Stimulus plan, this will only continue to push asset prices up. Also, with USDT continuing to print more tether, I do not see this stopping any time soon even with the the NY attorney General down there throats. Court cases are long and drawn out. Even after they receive all documents they requested, it is highly unlikely that Tether will be deemed a security that same day. I am no attorney or law expert, so correct me if I am wrong, but I believe this process could take at least a few more months before tether is deemed a security. During this waiting period I believe tether will operate as usual and keep on printing USDT before they get the hammer.

2.) US Inflation and currency debasement: Those who believe that inflation is currently happening are wrong. Inflation has not even started yet. The Inflation Rate for the 12 month year ending in November 2020 was only 1.2%. Considering that the feds previous goal was to keep the inflation rate at 2% and we were below that even after printing trillions into existence is astonishing. I believe that the reasoning for this is most likely because not enough people are spending their stimulus money on goods or services. All this money is going to assets which is causing asset prices to increase and keeping inflation low. Inflation occurs when volatility of money increases which in turns increases the CPI (inflation of goods and services). Currently there is a lot of pent up demand for people to go out and start spending money again on goods and services. I do not expect this to start happening until the spring and until then I expect Biden to push for as much stimulus as possible. Once the U.S. starts lightening up on their COVID restrictions, all that free money that was printed will be spent in the real economy. This will shoot up the volatility of money, causing inflation to rise faster than expected, making the dollar go down in value faster than expected. I do not think this will lead to hyper inflation but I do believe this will cause many people to push more money into assets pushing stocks, real estate and crypto even higher.

3.) Low interest rates and zero reserve requirements: Currently interest rates are at zero and that incentivizes people to take out loans. With every loan that is created, that is more money hitting the real economy which in-turn leads to more inflation. Majority of the money that is created comes from bank loans. Even if Biden's stimulus plans get rejected, zero interest rates will be enough of a catalyst for inflation to start to rise as restrictions ease up. In addition, I expect more loans to be provided in years past because the Feds also lowered the reserve requirements to 0%. This means that a bank needs to hold NO MONEY in reserves for them to create a loan. Historically reserve requirements were around 10%, but now with them being zero, we can expect inflation from loans to be a lot higher than normal because banks are no longer required to withhold money from society.

4.) Bitcoin cycles: Bitcoin is programmed to move in 4 year cycles that is centered around the havening event. These cycles usually consist of 2 years of a bull market after the havening and 2 years of a bear market after the supply shock of bitcoin is realized. Currently there is much demand for bitcoin and sentiment is high, but not at its peak. Personally, I think we just passed the "Hope" stage of the "wall street cheat sheet". There are still countless skeptics expecting bitcoin to crash and fail. Bitcoin is officially here to stay. Hedge funds, and financial institutions would not be paying billions to create bitcoin products if they believed this was still a fad. The baby boomers are still thinking that bitcoin has no intrinsic value as they don't understand the value of being able to move billions of dollars in a matter of minutes to anyone in the world without a central authority. Once we see these skeptics finally "understand" why bitcoin is valuable, I will be looking for this cycle to end.

I Understand that bitcoin has already went from $3,500 - 40k in only a few months and it is obvious that a correction is coming. But understand that the incoming dip will be short term and I am expecting to see a 6 figure bitcoin before the end of this cycle.

Again, all this is what I believe what will happen based off what I see, but DYOR. I do not have a crystal ball, no one does. All I know are the facts I listed above and everything else is my personal opinion. Good luck and go make gains.

Bitcoin Bull Run over? NO, It's just getting started!!

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SpaceX wants to give PH satellite broadband by Q3 (Monday, Jan 11)

Happy Monday, Barkada --

The PSE closed up 170 points (!!) to 7290 ▲2.4%.

Hard not to get distracted by what's happening in crypto right now, and by what's happening in the US. I'll admit that I was rubbernecking on Twitter for the back half of last week, but I'm back now; I'm better. (Checks Twitter again.) Maybe I'm not completely cured yet.

Daily meme | Join MB | Today's email

COVID Update

WW: 90063482 PH: 485784

Top 3 MB indices:

 Telco ▲4.23% #COVID-19 ▲2.98% POGO Prop. ▲2.70%

Bottom 3 MB indices:

 Media ▼1.27% Logistics ▼0.43% MiddleClass ▼0.44%

Main stories covered:

[NEWS] SquidPay [PHA 1.65 ▲17.02%] to add crypto buy and sell on its platform next month... SquidPay’s (Twitter post)[https://twitter.com/SquidpayP/status/1348185657076633600] said that it would allow users to buy and sell “major cryptocurrencies” with “reasonable fees and instant settlement”, starting this February 14th.

MB: “Happy Valentine’s Day, babe! I got you ₱2000 worth of Bitcoin through SquidPay as an enduring token of our love... yeah, SquidPay... you know, SquidPay, it’s like this payment platform... how am I supposed to know when they’ll actually complete their backdoor listing? BABE, WHY ARE YOU BEING SO DIFFICULT?!”" ">- [MB:] “Happy Valentine’s Day, babe! I got you ₱2000 worth of Bitcoin through SquidPay as an enduring token of our love... yeah, SquidPay... you know, SquidPay, it’s like this payment platform... how am I supposed to know when they’ll actually complete their backdoor listing? BABE, WHY ARE YOU BEING SO DIFFICULT?!”

MB: /www.philstar.com/business/2021/01/10/2069324/jollibee-expands-north-america]”, despite the pandemic, in stark contrast to how JFC stores performed domestically amid our lengthy lockdown and confusing soup of movement restrictions.

[NEWS] Jollibee [JFC 192.50 ▼0.05%] grows its footprint in the US and Canada... JFC plans to build 19 new stores in the US and 9 in Canada. JFC said that its stores in North America actually experienced “(double-digit sales growth)[https://www.philstar.com/business/2021/01/10/2069324/jollibee-expands-north-america]”, despite the pandemic, in stark contrast to how JFC stores performed domestically amid our lengthy lockdown and confusing soup of movement restrictions.

MB: If your thesis includes the assumptions that pandemics are going to be a problem for 2021 and maybe for the foreseeable future, it makes sense to diversify jurisdictions. The PH locked down hard and that crushed fast food, but the US and Canada did not lock down in the same manner, and where lockdowns did occur, delivery/drive-through/pick-up infra was already in-place to support continued sales. If anyone has ever seen the lines that foreign-based JFC locations can generate, they’d see why these stores are (usually) no-brainers.

[NEWS] Globe [GLO 2020.00 ▲1.00%] takes investment in GCash operator at $1bn valuation for GCash... Mynt, GLO’s fintech subsidiary that owns and operates GCash, (took $175m from a fund managed by Bow Wave)[https://www.rappler.com/business/gcash-operator-now-worth-almost-1-billion-after-bow-wave-investment], a New York-based venture capital firm that invests in “early-stage companies that provide online and mobile payment processing, banking and complementary financial services”. The investment values GCash at $1 billion USD (₱46bn), which would give the fintech startup “(unicorn status)[https://en.wikipedia.org/wiki/Unicorn_(finance)#:~:text=A%20unicorn%20is%20a%20term,rarity%20of%20such%20successful%20ventures.]”.

MB: While this is great for GCash and great for GLO, and it’s also a great sign that GLO will eventually contemplate the listing/spin-off of GCash through an IPO or similar event. Investors like Bow Wave usually give great sums of money with the understanding that, at some point, they’ll be able to cash-out at a good return. Usually, the best way for a company offload a significant minority stake is through an IPO. Think of Pincus with Converge [CNVRG 15.70 ▲2.08%] earlier this year. I’m not sure of this deal’s contemplated time-frame. Could be one year, could be three. Usually depends on the market itself. Companies don’t want to feed the ducks (us) unless we’re quacking (buying).

[NEWS] SpaceX in talks with PH Gov’t to provide Starlink internet service by Q3 of this year... the space exploration company, owned by Elon Musk, has been beta testing its satellite-based internet broadband service and is interested in expanding its offering to a fairly wide selection of countries, (including the Philippines)[https://mb.com.ph/2021/01/02/koko-ph-to-benefit-from-starlink-broadband-project/]. Senator Koko Pimentel met with representatives from SpaceX, to discuss “constitutional and other legal requirements in terms of protection and the ability of the Philippine government to engage with SpaceX”.

MB: The nitty gritty details are not there yet, but (CNBC has info)[https://www.cnbc.com/2020/10/27/spacex-starlink-service-priced-at-99-a-month-public-beta-test-begins.html#:~:text=Called%20the%20%E2%80%9CBetter%20Than%20Nothing,and%20a%20Wi%2DFi%20router.] to say that the service may be priced at US$99/mo, plus a US$500 up-front charge for the Starlink connectivity kit. SpaceX set low performance expectations for its beta test, saying to potential testers: “Expect to see data speeds vary from 50Mb/s to 150Mb/s and latency from 20ms to 40ms over the next several months as we enhance the Starlink system”. No word yet on the post-beta speeds and latency, but I know many non-NCR businesses that are currently playing PLDT [TEL 1424.00 ▲5.48%] about the same amount per month for about the same service. A satellite-based solution like this might be an important part of the country’s connectivity plan considering the vast (and expensive) challenge of wiring and connecting our nearly eight thousand islands. Perhaps this is not a solution for dense population centers like the NCR or Cebu, where TEL, Converge [CNVRG 15.70 ▲2.08%], and Globe [GLO 2020.00 ▲1.00%] should be positioned to provide better service at a more efficient price-point, but it is definitely a “Player 2 has entered the game” moment for the provincial areas that have been begging for proper connectivity for years. It also provides companies and individuals with a realistic backup for connectivity in disaster and business continuity situations.

MB is posted to /r/PHinvest every Monday and Wednesday, but my newsletter goes out daily. To stay in the loop for daily email delivery, please join the barkada by signing up for the newsletter, or follow me on Twitter.

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I don't want to get married in case I lose everything in the event of a divorce. Is this a normal outlook?

Background first as it's somewhat relevant to my mindset. My girlfriend (33) and I (28) have been together for 4 years. We met working at a pub, both on minimum wage, and have been very happy and have had 2 kids of our own in addition to another of hers from a previous relationship. Before her and the family, I was very frugal and "saved" around 75% of my take home pay however it usually went in some new gadget or tech that I wanted (including a few bitcoin that have since been lost) and didn't worry about it.
Over the 4 years I've gone through 5 job changes in IT and am now earning £35k annually which will increase next month after I start receiving on-call payments and overtime. She is still in the same job, currently furloghed, and has gradually received less of the benefits she was receiving before we were together so now receives around £100 a week.
After 9 months and finding out we were having out first daughter, I decided to buckle down financially and started matched betting with the view to buying a house for our new family. I made £16k over 18 months from that and eventually bought a 3 bedroom house for the 5 of us. I pay all of the bills and nursery costs and my girlfriend contributes to the shopping and retains what little she has for herself, which I don't mind.
Now we've both been talking about marriage and we would both love it but I'm hesitant because the relationship is very one-sided financially and in the event of a divorce, I would more than likely lose my house and 1/3-1/2 of my pay each month which isn't something I can bear the thought of being as frugal as I am. I know it will all be my contribution to the upbringing of my children but it just doesn't sit right with me. Are there other people that haven't gotten married for this reason?

Weekly Wrap: This Week In Chainlink January 4 - January 10

Weekly Wrap: This Week In Chainlink January 4 - 10

Announcements and Integrations 🎉

Chainlink Will Soon Be Launched on Heco, Becoming the 1st Recommended Oracle Solution

@HuobiECOChain is natively integrating Chainlink as its recommended oracle solution. This will give all Heco developers built-in access to the largest collection of on-chain Price Feeds & a generalized generalized oracle framework for obtaining any off-chain resource.

Blockpass Employs Chainlink to Provide On-Chain KYC Across Multiple Blockchains

@BlockpassOrg has launched its own Chainlink node on mainnet to make KYC & AML data available to DeFi dApps across the leading blockchains. This will bring important KYC data on-chain, enabling services like proving age, geography, and investor classification.

Finage to Run a Chainlink Node

Financial data provider @finageltd will run its own Chainlink node to sell signed data directly to dApps across the leading blockchains. Finange can provide #DeFi developers with access to 25,000 stock prices, 1,300 FX rates, and 1,500 crypto trading pairs.

CrescoFin Chooses Leading Oracle Solution Chainlink to Deliver Invoicing Data On-chain

@CrescoFinSA, a DeFi protocol for insured, interest-bearing deposit products, will integrate Chainlink to access secure and reliable data on-chain regarding the off-chain delivery of goods and off-chain reserve balances/insurance backing tokenized invoices.

Bondly x Chainlink Technical Integration

@BondlyFinance has integrated Chainlink Price Feeds on mainnet as part of their newly launched on-chain OTC marketplace called BondSwap. Chainlink oracles serve as a reliable benchmark, enabling users to make sound, fair-market decisions on OTC trades.

LE7EL.com Integrates Chainlink VRF on Mainnet For Provably Fair Gaming Results

On-chain gaming platform @LE7EL_com is using #ChainlinkVRF live on mainnet to determine the outcome of chance-based games in a provably fair, unbiased, & tamperproof manner. They are also using the Chainlink Alarm Clock to set a 24-hour countdown on-chain.

Dvision Network Will Integrate Chainlink to Calculate Digital Asset Prices and Fairly Distribute Random Gaming Rewards

Blockchain-based Virtual Reality ecosystem @Dvision_Network will integrate Chainlink Price Feeds & Chainlink VRF into their NFT marketplace to calculate the costs of creating and selling NFTs, as well as determine the distribution of random NFT rewards.

Mettalex Expands Chainlink Oracle Integration on Ethereum and Binance Smart Chain

Decentralized exchange @Mettalex has expanded its Chainlink integration, now leveraging a multitude of additional Price Feeds on Ethereum & Binance Smart Chain to support new DeFi markets for cryptocurrencies, fiat currencies, indices, commodities, & more.

QuiverX to Integrate Chainlink Proof of Reserve To Power Transparent, Decentralized Crowdfunding

Decentralized crowdfunding platform @QuiverX5 plans to integrate a custom Chainlink Proof of Reserve oracle solution that provides quarterly revenue data on-chain for SMEs it lists, enabling more transparent and sound evaluations of early-stage companies.

Warp Finance Will Integrate Chainlink Price Feeds to Secure Protocol Relaunch

@warpfinance will relaunch its Liquidity Provider capital market with Chainlink Price Feeds to provide high-quality, tamper-proof data sources and broad market coverage, ensuring user funds are secured against flash loan exploits and oracle manipulation.

Protofire Receives a Grant for Native Integration of Chainlink on Avalanche

We're excited to award a blockchain integration grant to @protofire for the native integration of Chainlink on @avalancheavax. Chainlink oracles will enable Avalanche developers to build high-throughput smart contracts connected to external data & systems.

What’s New for Developers 🛠

Submit Your Work for the Chainlink Builders Program

Announcing our new Chainlink Builders Program! Find out how to contribute to the Chainlink Network and earn developer badges for being an active member of our technical community. Redeem badges for Chainlink swag, NFTs, exclusive access to events, & more.

How to Fetch the Current Price of Ethereum, Bitcoin, and Other Cryptocurrencies in Solidity

Chainlink Price Feeds provide a quick & reliable way to feed high-quality Bitcoin, Ethereum, & other cryptocurrency price data into Solidity smart contracts. Learn how to securely fetch real-time price data with Chainlink oracles in our latest tutorial.

How to get historical price data with Chainlink

One import, one constructor, one function––that's all your smart contract needs to retrieve reliable, accurate price data from #Chainlink's decentralized oracle network. See how in our Get the Latest Price code example.

FIL/USD Price Reference Contract

By consistently launching secure price oracles for in-demand assets, #Chainlink helps developers keep pace with #DeFi's growth. Integrate the new FIL/USD Price Feed on mainnet today to support DeFi products for @Filecoin, already used by @synthetix_io.

Foreign Exchange Rate Price Reference Contracts

Chainlink is expanding possibilities for DeFi by supporting unique price feeds for major asset pairs. USD-denominated price oracles are already live for many leading foreign exchange rates that dApps can integrate today, such as AUD, EUR, CHF, GBP, & JPY.

Featured Videos & Educational Pieces 🎥

Circuit Breakers and Client Diversity Within the Chainlink Network
- Chainlink Price Feeds provide users with the maximum amount of security, reliability, and data quality, along with additional layers of protection such as circuit breakers and multiple clients, protecting user funds against a black swan event.

How to Prevent Price Oracle Attacks in DeFi | Sergey Nazarov, Chainlink on Decrypt Daily
- Chainlink Price Feeds source data from hundreds of exchanges, ensuring broad market coverage and protecting DeFi smart contracts from volume shifts and manipulation. Watch @SergeyNazarov’s full conversation with @MatthewADiemer from @decryptmedia.

The Evolution of Smart Contracts and Cryptoeconomic Security
- Implicit staking and explicit staking are both powerful cryptoeconomic forces. While Implicit staking creates guarantees about adherence to a protocol generally, explicit staking creates specific guarantees about fulfilling individual contract requests.

Ecosystem & Community Celebrations in 2020 👏

RSVP for Upcoming Events 📅

<12 December> [VIRTUAL MEETUP] - Mettalex and Chainlink Live Q&A
<13 December> [VIRTUAL MEETUP] - Meet up virtual en Español con RCN Network
<15 December> [VIRTUAL MEETUP] - The Graph and Chainlink Live Q&A

Are you interested in hosting your own meetup? Apply to become a Chainlink Community Advocate today: https://events.chain.link/advocate

Chainlink Labs is hiring to build Chainlink’s network: Check out these open roles 👩‍💼

View all open roles at https://careers.smartcontract.com

Are there other community content and celebrations that we missed? Post them in the comments below! ⤵️

I don't want to get married in case I lose everything in the event of divorce, is this a normal outlook?

A potential use case for Bitcoin right now: Indonesia plane crash?

Hello all, I don't know about you but I'm bored of reading about price swings and how many people have.

Thinking about the tragic air incident in Indonesia and how utterly powerless the relatives must be feeling right now. Time must be standing still for them all, and yet time stops for no-one: bills will be mounting up, appointments missed, not to mention the unbearable task of having to plan a family member's funeral (in some cases your whole family).

Now sometimes I see advertisements on TV to donate to a charity and that's good and all but it's so hard to find which of those charities use the fiat money in the best way, not to mention the funds lost through the transaction in service provider fees etc.

I guess I just wanted to hear your view about how possible it would be, and what would have to happen for the bitcoin community to be confident to donate bitcoin to the people affected by a catastrophic event such as this. Would be awesome to see bitcoin in action in this way but I think there are loads of issues that need to be overcome for this to ever come to fruition, not least ensuring that the funds were going to the right people, as well as bitcoin actually providing value to them.

[SG] [H] Switch Lite, BOTW, Martio [W] £180 ono, PayPal, BT, XMR, BC

Item

Switch Lite console in grey + BOTW + Super Paper Mario + Charger + Case

Condition:

Almost perfect condition, bought it as I travel for work quite a-lot but that's changed with the ol' world changing event.
It's had a screen protector on it from day 1 and been kept in the handy dandy travel case you will be getting also.
You'll see a weird part on the screen in the top middle in the pictures, but this is just where I got a spec of dust under the screen protector when applying.

It can come boxed if you like as I still have that. Games are boxed obviously.

Timestamps:

https://imgur.com/a/ZmLNINw

Price: £180. Open to offers though.

Postage and Payment:

Will post by Royal Mail, insured and signed for.

Will accept, Paypal (Buyer eats fee's if not paying FF), B.T.
Happy to also take crypto.
- Bitcoin
- Monero

Any additional information:

Smoke free home, hardly played, just sat in a drawer for the most part.

Premium service. Fast load. Stable streams. Plans starting at $10

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HBO, Cinemax, Showtime, Starz, Epix, Movie Plex, Sky Cinema and more!
VIP channels
PPV
Adults

EXCELLENT STREAMING QUALITY

Need to have a solid internet connection. 25mbps or greater with no throttle.
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Solid uptime
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Femboys, be very careful 😭💀 How my sadistic best friend ALMOST ruined me.

I became a straight femboy at 17 in 2012, back then everyone just called it being too late for emo. I started out on online chatrooms showing off my new style, everyone in the chatrooms loved it so I decided I should definitely take this up. Girls from my local area would recognize me in the street as that femboy from snog.com and wave at me which was such an ego boost after being the 'runt' kid for so many years. There were also some bad things like old men would follow me around then my doctor would rather tell me I'm paranoid than to admit he thinks I might be super attractive, and like all femboys experienced the strange things too for example those people who nearly walk straight into you on the streets because they're trying so hard not to look at you and make eye contact.

But the main thing I want to warn you all about is my 'best friend'. We shared parts of our childhood together, it seemed like I belonged by his side, we both had trouble in schools, had the same tutor for excluded pupils in our area, then attended the same 'half-school'. I posted pictures of my new style on Facebook, and this friend messages me a few days after asking to hang out. We go out to a Chinese restaurant, he constantly keeps laughing "we're gay" at the table, I just say to him something like "oh are you gay? I'm not gay but that's ok" he tells me he just means gay as in stylish and he's also 100% sure he's straight too.

We spent most of our days and nights together on and off until 2018, we, and I especially was so skinny we could comfortably share a single bed. A couple of mornings during that time I opened my eyes to him staring at me. I just assumed he woke me up and decided to give me a creepy look as I opened my eyes just for banter. He also used to say we would be having sex all day if I was BORN as a girl, once he got an ugly girlfriend who he would only seem to snog if he was looking into my eyes, I thought he was just trying to show off to me. These were some of the tell-tell signs that this guy was attracted to me, but I really didn't notice because I know I tell my close friends I think they're sexy as banter. During this time I went to hospital a few times for some traumas which were locked until 2019. During this time my friend would get a complete make-over and hang out with his other friends circle with his rich dad, he never ever introduced me to this group or his dad, just his mum. He would tell me his view of his dad was that he was just a rich man who had sex with his mother and abandoned him apart from taking him to Amsterdam at 18, and kept asking me if I would help him steal from his dad. During the last year of our friendship, I started taking a medicine which made me clinically obese. During this year he was acting even more creepy around me. Once he insisted on us being naked in a hotel room, I agreed except I wore underwear he wore none. We went camping and he kept begging me to suck his penis which I refused.

The final events 2018: He made a fake girlfriend he dated for our final 2 weeks, and introduced us to eachother like we were designed to rock eachother's worlds. He took obese me out of a hospital when I was really dirty and hadn't showered for 2 days, he told me if I don't leave the hospital with him right now, he would stop being my friend forever. He kept giving me more and more various benzo/painkiller cocktail tablets until I was drugged so much I wouldn't be able to remember. He took me to his mother's house saying there's some really cool people he wants me to meet but told me to sit on his toilet for 30 mins first or else he'll beat me up, really wanting to know what my 'friend' was up to I waited in the bathroom with the light on for 30 mins and my friend kept telling me to have a wank, which I did't. I didn't notice what it was at the time, but I realize from some of the things I said and my doctor confirmed I was probably hypnotized in that bathroom from what I remember. There was someone in the room next to the bathroom playing sissy hypnos at low volume, and playing a normal radio station jingle called 'magic' now and again. Now I was on about 5 different types of pill and hypnotized, If you've never seen sissy hypnos, I hadn't at the time either, the videos hypnotize you to say 'yes' to everything and believe you're transexual. After 30 minutes I was asleep on the toilet floor and my friend came and woke me up, told me I'm meeting people from the adult industry to help me get super rich from porn. It was actually my sister in that room, someone who knows my close childhood friends, and this 'friend's' other friends from his dad who he never introduced me to. The room was dark and my eyes were used to the bright bathroom so I didn't recognize anyone. His plan was to make me confess to things I haven't done thanks to the hypnosis, and for me to be totally shameless about it thanks to the drugs he spiked me with. He even announced himself as 'Jeremy Kyle' (Jerry Springer in UK). He asked if I was a pedophile, my answer was a pedophile is technically any person attracted to 12-15 year olds, and I was a pedophile when I was 15 (as in liked girls my age) then completely stopped liking 15 year olds when I turned 17. I said my mother is attracted to me and I said yes, which I definitely don't think, they put mummy traumas on hypnos videos. He complained about some of the tiny childish behaviors I had at 14 years old in school telling me I'm too old for them now. This kinda backfired on him though. I wasn't self-aware to be anxious of these other people in the room thanks to the drugs, so I bought up some real secrets of his I thought would be just funny in this 'really fun rap battle' I was seeing the argument as. I remember him getting so fustrated he just started telling me to be sad for him, so I just pulled a very sad face at him which made him more fustrated and me laugh more. He had enough in the end and told me to go to his bedroom and cluck like a chicken on the way there, so I just said "erm.. cluck cluck night guys." kinda how the cluckin' bell employees on GTA say 'cluck', did a single armpit fart then went to bed. The people from the front room came into the bedroom when I was asleep and wrote nasty things like 'slut' and 'kill yourself' on the wall, my sister drew a butterfly above it which made me think it was just a drawing of the pandora's box myth when I got up, but before I got out of bed my 'friend' tried to climb on top of me and suffocate me. He stopped and acted like it was a joke when I began screaming. We then went to one of his friends houses, and he emotionally blackmailed me to take LSD with him. He probably didn't really take his LSD dose. We went to his girlfriends house, he took a knife to me then ran out the door and I basically never saw him again. I just realized this yesterday, people like my sister and my doctor gave me the puzzle pieces of this trauma and I've just put it together.

I was about to end my life yesterday, then I realized how his ex-police sociopath farther set him up to do this, 'friend' is the real victim in this setup. His dad told him to do this so he will never have a friend who respects him more than his sociopathic farther.

'Friend', if you are reading this you could've just asked your dad really, I'm currently doing escort meets at £200/hour if you will talk to me again and I'm still planning on making that yacht hire company we promised ourselves, I'm actually working towards it at college.

Oh wait sorry I screen my customers so there's no hope :(

I also know exactly how to ruin your life once your dad dies finally and you have 0 grades, and no trust whatsoever. The plan is to donate you £60,000 in cash, this will be your VAT allowance up to the 40% bracket, and you'll become ineligible for broke ass benefits that tax year. You may get a job if an idiot will employ you, however minimum wage after your taxes is now £4 per hour in Central London with rent at £40 per day, and just to top things off, I can call HMRC to come and get you locked up for the VAT you say you 'didn't know' you had to pay... And I have no hopes of you turning £60k into anything, it's not like you'll have me to tell you to buy bitcoin in 2013, and follow me in buying Nvidia stocks in 2012. You're so fucking stupid that I'm confident I can tell you all about this plan without risking it's success.

I'm 26 years old now, back to my skinny body and the future is looking brighter than ever

I get a strong feeling femboys aren't loved, just lust. And always abandoned when someone thinks our looks are about to fade.

Lesson: Stick to your old friends :)