Bytom Ecosystem Explained (5) MOV — A whole DeFi universe (trading, assets, and lending)
This is the 5th article of Bytom Ecosystem explained, and we want to help people to get more understanding about Bytom. In case you may missed previous articles, here are the links to those articles:
1,Bytom and its products
https://bytom-official.medium.com/bytom-ecosystem-explained-1-bytom-and-its-products-fd9b4cd9d175
2,What is the relationship between Bytom Mainchain and Sidechain (Vapor)
3, Vapor — Sidechain Dpos nodes and ecosystem
4, Bytom corsschain gateway — connecting Bytom with other blockchains
DeFi also called Decentralized Finance, shortly explained it’s the financial applications built on blockchain which aims to disrupt financial intermediaries.
What is MOV? MOV is a DeFi protocol running on Bytom’s sidechain Vapor, Vapor’s high-speed performance （16,000 TPS theoretically) can support the mass adoption of MOV.
The whole MOV DeFi Universe will cover three pillars:
1, Trading
2, Lend
3, Synthetic assets
1, Trading
Currently, MOV DeFi has developed three trading protocols, 1), FlashSwap 2), MagnEx 3), SuperTx
FlashSwap: Token swap with the market maker. Through FlashSwap, Users can swap their token/coin instantly with a trading rate giving by the market maker.
MagnEx: It’s an Order book exchange protocol. Through MagnEx, Users can place sell orders or buy orders, orders will be matched by Magnet Contract, so each trading is happed on the blockchain which leads to being more transparent and safe to users.
SuperTx: An improved AMM(automated market maker) trading protocol for cryptocurrencies, low slippage, low cost and you can earn profit by adding liquidity to the pool. It has been tested on real scenarios, the slippage in SuperTx protocol is much smaller than other AMM trading protocol.
2, Lending
Lending is an application that happened in traditional Finance. By introducing blockchain technology, lending can be more transparent and useful. Lending will be the second that MOV will develop, currently the development team of MOV is doing a lot of research on the stable coin and Lending mechanism, the most innovative solution MOV will create is risk management. Because in our opinion, safety is especially critical and important in Finance.
And Currently, Bycoin mobile wallet and Chrome extension wallet have already support accessing Bytom’s mainchain and sidechain, it will let Lending application much easier to release on Bycoin mobile wallet and webpage.
3, Synthetic assets
Bytom aims to tokenize assets. Assets can be created on Bytom mainchain and circulated in Bytom’s sidechain (vapor), and MOV DeFi can be the application to let assets circulate secure and convenient.
So the Synthetic assets will be another pillar in MOV DeFi Universe. To that end, the development team of MOV also spend a lot of time on the research of synthetic Assets.
Bytom’s founder Chang Jia said the theory <three-phase of Asset> for many times, and he always think Blockchain can play an important role:
First phase： Asset in Equity
Second phase: Asset Securitization
Third phase： Asset in Blockchain
And we are entering the third phase, through the third phase, the asset will be much easier to circulate, and the asset can be cut into smaller pieces. And the owner of the Asset will fully control the asset by his private key.
The three pillars of MOV：Trading，Lending and Synthetic assets will fully be integrated with each other in MOV DeFi universe.
And MOV DeFi universe will deliver a better financial system to users.
How to make it possible, because MOV DeFi is a DeFi system designed in a whole set, all the protocols： including trading protocols, asset protocols, and lending protocols are designed in a more comprehensive manner so that protocols are more integrated with each other.
In the long term of MOV DeFi Universe, it aims to build a comprehensive Decentralized Financial system, so that the asset on blockchain can be easier, stable, circulating freely. And whether you are from institution or personal, you can join and play a role in MOV DeFi universe, it also can help to grow your business. That’s the financial system we arre building.
