Known as the strongest DeFi on EOS, what confidence does PIZZA have?
Editor's Note: This article comes fromIMEOS（ID：IMEOSONE）, reprinted by Odaily with authorization.
Editor's Note: This article comes from
, reprinted by Odaily with authorization. secondary title PIZZA ? The strongest DeFi on EOS?Someone recently said: "As long as it is related to DeFi, anything can go to heaven."Regardless of whether BB is blowing water or not, DeFi on EOS does have some boutique projects worthy of market attention. In the previous article: We have made a general review of the DeFi projects on EOS. Among them, PIZZA has recently become a big hit, with an increase of up to 10 times since July 1st. The PIZZA team has always called PIZZA the strongest DeFi on EOS. Today we will see if they really deserve this title! secondary title What kind of confidence does PIZZA have! 2.1 What is PIZZA? Can I eat it? First of all, the name PIZZA is a tribute to the famous most expensive pizza event in the history of the blockchain (worth 10,000 BTC), which is quite sentimental. We learned that the PIZZA project was established in September 2018. It is the first DeFi project on EOS. In the first white paper, they defined PIZZA as a decentralized smart token system based on EOS. PIZZA-USDE stable currency pledge The generation system was officially launched in May 2019, generating the first decentralized stablecoin USDE on EOS through pledge. After more than a year of development, we can see that PIZZA's financial ecology has been enriched a lot. In addition to the initial stablecoin pledge issuance system PIZZA-USDE, the flash exchange system PIZZA SWAP, decentralized exchange PIZZA DEX, synthetic Asset trading (leveraged tokens) and PizzaLend, a decentralized lending protocol. From this point of view, it is not wrong to call it the most complete decentralized financial platform on EOS. Next, let's take a closer look at the functions of these major sections of PIZZA: for example: Stablecoin Pledge Issue PIZZA-USDE USDE is the first decentralized stablecoin generated by users staking EOS on the PIZZA network. It is a 1:1 chain pledged stablecoin anchored to the US dollar. The concept of pledging EOS to generate USDE is similar to housing mortgage loans. In this analogy, PIZZA is like a bank, the EOS pledged by users is like real estate, and the generated USDE is like the legal currency that users borrow. for example: Suppose, A pledges $100 of EOS, he can generate up to $70 USDE. After this pledge generation operation is completed, assuming that the price of EOS doubles, the original pledge of $100 will increase to $200. At this time, the USDE debt is still $70, so A can withdraw up to $100 of EOS or generate up to $70 of USDE while maintaining a pledge rate of 70%. It is worth noting that there is a liquidation mechanism in this pledge system. The amount of USDE generated and the liquidation price are both affected by the pledge rate. Currently, the system’s default maximum pledge rate is 70%, and the forced liquidation pledge rate is 80%. As shown in the figure, the expected liquidation price also shows that there is a difference of more than 10 points between the market price and the liquidation price. That is to say, when EOS fluctuates violently and touches the forced liquidation price, the position will be liquidated. After the liquidation is initiated, the system will package and auction the defaulted debt at a discounted price, and return the remaining EOS collateral to the account of the liquidated person. Currently, the system shows that the forced liquidation fee is 0. It is said that PIZZA canceled the forced liquidation to encourage users to mortgage. fine. That is to say, the pledge is liquidated due to the market decline, but if the user can take back his pledge in the auction market, there is actually no loss. According to PIZZA's official statistics, the cumulative auction volume of its auction grabbing system exceeded 120,000.00 USDE, equivalent to 850,000.00 CNY, and the average profit of users who succeeded in snapping up auctions was as high as 10%. Currently, the most effective USDE utilization method is value storage and value-added. PizzaLend provides market-oriented USDE savings income. On the other hand, USDE is an excellent collateral that can be used to pledge and lend other currencies in PizzaLend. In addition, USDE also acts as a collateral to endorse the value of synthetic assets. USDE demand is expected to increase linearly with the expansion of the synthetic asset sector on the PIZZA network. USDE is currently mainly circulated in the PIZZA network, such as the PIZZA DEX decentralized exchange (currency trading and synthetic asset trading), PIZZA SWAP flash exchange and PIZZALEND decentralized lending. Flash exchange system PIZZA SWAP PIZZA SWAP is a decentralized flash exchange based on the "constant product automatic market maker agreement". Every time a trading currency (called X currency) is launched, a market maker is required to establish an EOS pool and a corresponding X currency pool. Any EOS account can freely enter or exit the market maker pool. PIZZA SWAP charges 0.3% of each transaction amount as a handling fee, which is equally distributed to the market maker account according to the contribution share of the market maker pool, and the system does not charge any fees. Suppose a transaction generates a handling fee of 100 USDE, A accounts for 10% of the market pool, and B accounts for 20% of the market pool. Then A gets 10 USDE from this transaction, and B gets 20 USDE from this transaction. Currently, the currencies supported by PIZZA SWAP are: EOS, USDE, PIZZA, POOL, BG, DAPP, TPT According to official data, as of June 30, 2020, the cumulative transaction volume of PIZZASWAP exceeded 7,000,000.00 CNY. The above-mentioned liquidation auction after liquidation was also traded on PIZZASWAP. Decentralized exchange PIZZA DEX PIZZA DEX provides PIZZA users with an original ecological decentralized trading place for EOS assets. In addition to simple currency transactions, it also provides purchase and redemption services for synthetic assets. Currencies currently supported for transactions: EOS, PIZZA, USDE, EIDOS, POOL, YAS Synthetic asset trading (PIZZA leveraged token PLVT) Synthetic assets can theoretically provide transactions for all assets. The goal of PIZZA synthetic assets is to become an open decentralized synthetic asset trading platform. In addition to conventional transactions, the community can also independently decide on new asset transaction categories, and through Inject USDE to play the role of profit and loss undertaking pool. The leveraged token PLVT that has been launched at present includes Bitcoin’s triple long leverage token (BTCUP) and triple short leverage token (BTCDOWN). Users can directly use USDE to subscribe for BTCUP and BTCDOWN, and do long in this way Shorting Bitcoin does not require collateral, and there will be no liquidation. The official said that trading targets such as EOSX5, EOSX10, GOLDX5, GOLDX10 will be launched in the future. PizzaLend, a decentralized lending protocol PizzaLend is a decentralized non-custodial currency market protocol, similar to the Compound (DeFi on the Ethereum public chain) that was popular some time ago. Users can act as depositors or lenders in it. Depositors deposit deposits to obtain interest income, and borrowers make unlimited loans with over-collateralization. PizzaLend's current loan situation at a glance: In addition to the PC side, PIZZA also has wallets such as Starteos, TOKEN POCKET, MYKEY, imToken, Bitpie, etc., and friends can also operate on the mobile phone side. secondary title Having said so much, how to get PIZZA tokens? Staking Rewards The total amount of PIZZA issued is 1 billion. Looking at the current market, including the 100:1 airdrop of PIZZA distributed to all EOS network users when it was launched, the circulation on the market is about 1,500,0000.00, and the daily increase is about 50,000 to 60,000. This seems to be very few. Apart from going to a decentralized exchange or buying from Morecoin OTC, there are two other ways to get PIZZA. 3.1 How to obtain PIZZA Staking Rewards Pledge is mining. In the aforementioned stablecoin pledge generation section, mortgage EOS to generate stablecoin USDE, and then distribute PIZZA rewards daily according to the ratio of USDE you hold to the total USDE circulation. A total of 10 million PIZZA rewards will be released in this section, which will be released in four cycles, with 40 weeks as a cycle. The first cycle releases 50%, and the second cycle begins to halve, that is, each subsequent cycle is 25%, 12.5%, and 6.25%, and the rest will be decided by community voting. It has been halved twice so far, and it is now 8928.57 PIZZA a day, and the next halving will be on Singles’ Day this year."Missing the 100-fold increase of Ethereum DeFi, what are the targets of EOS DeFi worthy of attention"
Through the above introduction, I believe you have a general understanding of PIZZA. Although its flash exchange system and decentralized exchange currently support not many currencies, the transaction volume is still far behind the TOP EOS old decentralized exchange. , but regardless of the integrity of its financial ecology, the status of the entire project iteration, or the high degree of discussion in the community and the performance of currency prices in the market, I think they call themselves the strongest DeFi on EOS. Have a certain confidence! Including DFS, another EOS DeFi project that everyone has paid more attention to recently, PIZZA, which has many functions that it wants to realize, has already found its way.
Borrowing Incentives Borrowing is mining. You can get a certain amount of PIZZA rewards by depositing or borrowing in the PizzaLend section. The current market value is 510,000 US dollars, and the total rewards are 10 million PIZZA. Among them, the depositor gets 40% of the reward PIZZA, and the lender gets 60%, that is, the lender can get more PIZZA rewards, which can be collected with one click on the page. The PIZZA standards released daily are shown in the figure below:
