GXChain New Stage: the Second Round of Keywords: Swap & StableCoin

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REI Network Project

3 min readAug 14, 2020

Since the beginning of this year, the GXChain team has been continuously exploring and looking for our position and breakthrough in the defi field; now, the time has come! The experience in the financial data field in the past 5 years has given us a better understanding of finance and DeFi; the realization in the blockchain field in the past 5 years has given us a better understanding of how to use blockchain technology to transform the traditional financial world and build defi ecology.

Okay, let’s talk about the topic, the second wave of keywords is here again!

GXC-Swap Lightning Exchange
StableCoin stablecoin

In the first wave of keywords, we mentioned oracles and cross-chain relays. Based on these two, the GXChain team will extend to develop lightning exchanges (lightning exchanges are based on cross-chain relays to provide more convertible currencies) And stablecoins (needs oracles to feed prices).

GXC-Swap Lightning Exchange

If GX-Relay is to help GXChain connect to the high-speed network of Wanchain interconnection, GXC-Swap is committed to helping chain assets open up a fast value exchange channel. The main functions of GXC-Swap include:

-A simple and safe value exchange protocol to realize automatic and fast exchange of token assets
-A simple and friendly interactive interface
-A series of visual charts to help users discover value more intuitively

At the same time, GXC-Swap includes the following features:

-Completely decentralized, no server
-All assets on the GXChain chain will be exchanged in GXC-Swap by default
-Assets on other chains can be exchanged in GXC-Swap with the help of cross-chain relay
-Anyone can create trading pairs, provide liquidity at the same time, and enjoy the benefits of the wide use of trading pairs

Estimated launch time: mid-October 2020

### StableCoin Stable Coin

Stable currency is an essential asset of the DeFi ecosystem and is at the core of the entire financial system. Stable currency links on-chain and off-chain as well as assets and value. Therefore, it is necessary to develop a robust GXChain DeFi ecosystem, and stablecoins are essential. Stable coins are divided into centralized stable coins and decentralized stable coins. The former is guaranteed by the off-chain assets provided by centralized institutions, while the latter is synthesized by the mortgage of on-chain assets.

Comparison of advantages and disadvantages of centralized stable currency and decentralized stable currency

GXC-Stable combines the two and merges the advantages and disadvantages of the two types of assets to complement each other, thereby forming a more stable and secure stablecoin solution. GXC-Stable allows two types of stablecoins to be converted to each other under different risk conditions to deal with various market risks. There are two ways to obtain GUSD. The first is to move USDT on Ethereum to GXChain to become GUSD through cross-chain; the second is to synthesize assets, which is to feed prices through oracles to transfer GXC or mainstream currencies (cross-chain). The ETH and BTC of the chain) are used for asset mortgage to synthesize GUSD, similar to mechanisms such as BitUSD, Maker\DAI, and Synthetix. The stablecoin established through the combination of these two methods is very stable and effective.

Specifically embodied in:
-When the market is unstable, convert decentralized stablecoins into centralized stablecoins to resolve liquidation risks
-When the centralized stable currency is facing a potential credit crisis, all synthetic assets obtained by mortgage are used to avoid a liquidity run on the centralized stable currency
-More mainstream assets (such as BTC, ETH, etc.) will enter GXChain through GXC-Relay and synthesize a decentralized stable currency with GXC to provide more stable value protection

Estimated launch time: end of October 2020

The plates are gradually spliced, and the prototype of the new blueprint is seen!

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GXChain New Stage: the Second Round of Keywords: Swap & StableCoin

Written by REI Network