[July,28 AMA]The Telescope of DeFi,Crosspoly is now online
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Moderator: Hello, community members from telegram , I’m the host of this AMA. Welcome to our Telegram group , today we are here to introduce the decentralized DeFi aggregated revenue platform — Crosspoly, we will start from the fundamentals and bring you recent progress in this AMA.
And here we Today we are privileged to invite Forbes Smith, CEO of our Crosspoly team, to bring us a detailed introduction of Crosspoly, let us welcome Forbes Smith.
Guest: Hello everyone, I’m CEO of the Crosspoly team, pleasure to meet you in the group.
Moderator: Hello, can you introduce yourself and the Crosspoly team to us first?
Guest: Okay, hello everyone. I am Forbes Smith ,responsible for the overall operation of Crosspoly. The development of Crosspoly includes many technical updates. We are also honored to participate in here. Many capitals around the world have also joined in.
2021 is a crucial year for the development of DeFi as well as Crosspoly, we look forward to making some achievements this year, and we also hope that everyone can join in and participate in our global ecological construction.
Moderator: Thank you. Could you please have a brief introduction about Crosspoly?
Guest: Okay, first, Crosspoly is a heterogeneous cross-chain aggregation protocol based on multi-computing distributed key management. It provides transaction traffic for various public chain DEX. Through the smart contract on the public chain, and the mechanism design protocol, Crosspoly finds the best depth of slippage protection on the major public chains, and selects the best price and places an order. Crosspoly is committed to providing a more trustworthy, safer and more efficient flow and transaction of heterogeneous assets.
Moderator: OK, sounds cool. You mentioned “ aggregation protocol” many times above, can you talk about it in detail?
Guest: The aggregation protocol is built on Binance Smart Chain (BSC), Huobi Smart Chain (HECO), Ethereum (ETH), polkadot, etc. Through smart contracts on the public chain, and mechanism design protocols, it finds the best DEX on the major public chains with good in-depth slippage protection.
Crosspoly’s AMM-based DEX achieves the largest liquidity and the highest average daily trading volume, and uses a constant function as an algorithm to keep the comprehensive asset reserve of the trading pair unchanged.
Moderator: I see, so now, has Crosspoly’s business brought any new technological breakthroughs?
Guest: Yes, we have made breakthroughs to varying degrees in terms of profitability, security, and liquidity. As for revenue, we have adopted the latest encapsulated asset liquidity mining method, combining platform cross-chain encapsulated assets and on-chain assets at a ratio of 1:1 for LP mining.
In terms of security, SPMC, a security private-key management control system, is used to divide the private keys in the blockchain into 32. One administrator and 32 notaries can recover a complete private key and perform on-chain operations only after all of them are gathered, effectively alleviating the attack problem.
And the aggregation protocol we just talked about can make the best transactions on different public chains, which greatly improves the liquidity of tokens.
Moderator: It sounds like a new mining method, so are there any relevant economic models for your new model?
Guest: Crosspool cross-chain encapsulated asset liquidity mining is a solution to the shortage of asset liquidity between cross-chains. The cross-chain aggregation protocol combines platform cross-chain encapsulated assets and on-chain assets at a 1:1 ratio for LP mining. Through mining rewards, the encapsulated asset conversion and smart contract interaction of cross-chain encapsulated and mapped assets on different public chains are realized. Crosspoly implements a unified cross-chain approach. Through the distributed private key control scheme, a fast and efficient cross-chain scheme is realized, the block speed is equivalent to the cross-chain speed, and there is almost no loss of time. The data setting of the cross-chain pool enables Crosspoly to realize distributed management, providing a centralized experience in decentralized products, and the interaction method of K-line and technical indicator line is the same as the centralized experience
Moderator: So,under this new economic model, how do users participate and get tokens?
Guest: The project has set up different Token distribution mechanisms, which can join us in different ways to get more investment income.
Ecological cooperation, 15 million CPs can be obtained through some specific conditions.
In the airdrop community, some CP coins will be issued during our promotion period. You can follow our telegram and Twitter to get the latest release news.
Mining rewards, a total of 60 million CP coins have been established, users can get the maximum benefits, and the rewards are divided into 6 years, during which there will be a steady stream of benefits.
Moderator: That’s right ,what are the uses of the obtained CP coins?
Guest: The rights of private key managers: In the top 32 of the final CP currency rankings, all the exchange settlement income of cross-chain transactions can be obtained.
And it can also be upgraded to a community governor. By staking CP, it can participate in community voting and other decisions.
Moderator: Thank you for this AMA. I believe my friends also have a new understanding of crosspoly. Do you have any prospects and goals for the future of the project?
Guest: There is at least 8–9 times the potential for development in the market of cross-chain aggregation, and Crosspoly focuses on blockchain + industrial development, ecological construction, heterogeneous cross-chain, and user first, and takes the financial industry alliance as the starting point to get through The application of blockchain technology in various fields will continue to link more participants in the digital economy and establish a three-tier application from technology to application to ecology.
Based on the idea of DT+ industry unbounded integration, Crosspoly will integrate the data of major players in all major industries and major fields to jointly create a digital economy traffic highland. By building a machine-trusted sharing network, it will solve data access, encrypted transmission, sharing, and credibility. Transaction, storage and other issues, realize the data exchange of various industries around the world, and bring users more efficient and convenient transactions.
