Gatling Finance Targets Heco Bullseye, Sparking New DeFi 2.0 Bull Market
There is no hotter concept in the cryptocurrency market in 2020 than DeFi, which has seen an unmatched boom along with the birth of a series of wealth-creating mythical products such as YFI, YFII, and UNI. According to the data of DeBank platform, the locked assets on the DeFi chain soared from $600 million at the beginning of the year to a maximum of $32.7 billion, with a maximum increase of more than 5,450 percent, which is enough to witness the hotness of DeFi. However, behind the prosperity, many problems were revealed.
· For example, in the early days when Ethereum was the main battlefield of DeFi, network congestion and high Gas fees greatly reduced the sense of user experience; Secondly, because it was developed based on different public chains, it led to the formation of an information granary before many applications, and crypto assets could not be freely transferred and interconnected with each other. In addition, although DeFi liquidity farming and other games are hot, the high threshold only belongs to the carnival of a small group of people, and DeFi and CeFi cannot be deeply integrated, which seriously hinders the deep development of the DeFi field.
In response to the current situation and dilemma, the three major exchanges, represented by Binance, Okex, and Huobi, have started to shift their focus to the underlying technology and focus on building exchange public chains in an attempt to capture developers, attract more incremental users to enter, grow the value of the exchange ecosystem and seize the DeFi 2.0 track.
Huobi enters the game, Heco triggers the DeFi wave
Huobi launched Huobi ECO Chain (hereinafter referred to as “Heco”) and announced the establishment of a $200 million Heco Ecological Fund to support the projects of Huobi Open Platform and Huobi ECO Chain. As the first product launched by Huobi Open Platform, Huobi ECO Chain adopts HPos consensus mechanism, with TPS up to 500+ and block out time 3s, and is compatible with Ethereum Virtual Machine (EVM) on the basis of supporting high-performance transactions, which is more friendly to Ethereum.
Some data show that since the main Heco website went online, the locked assets on the Heco chain have exceeded $200 million, the daily transaction volume on the chain exceeds 1 million, and the number of non-zero addresses exceeds 1 million. So far, more than 60 lending, DEX and finance projects have announced that they have gone live or will be deployed on Heco. The Huobi eco-chain Heco is stirring up the whole DeFi industry at a speed faster than expected, successfully triggering the next wave of DeFi development boom. Heco is in an unmissable wealth bonus period, which is both an opportunity and a challenge for most users.
Gatling Finance is based on Heco, creating the next “YFI”
As a decentralized passive investment platform for composite assets, Gatling Finance has successfully seized the opportunity to become the first DeFi Vault application on the Huobi ecosystem, locking the core target and hitting the bull’s eye!
The concept of staking comes from the traditional farming market, as the name implies, that is, for different coins of the same algorithm, according to the real-time farming revenue, the arithmetic power is switched to the higher-yielding coins for farming in an automated manner, thus creating higher revenue for users than single coin farming. This process is called “staking” because it is similar to the operation of a machine gun, as it switches in real-time with the change of coin revenue.
The DeFi staking is similar to the traditional staking in that during the liquidity farming process, the DeFi staking switches funds to higher yielding DeFi projects for liquidity farming based on the high or low real-time farming returns, providing investors with higher farming returns, which is essentially a strategic farming pool that achieves optimal returns through intelligent scheduling. Simply put, it is a pool of money that contains strategies to maximize asset returns.
As we all know, in the field of DeFi staking, the typical representative Yearn. Finance — — running on the ethereum blockchain DeFi yield aggregator, whose platform token YFI has been on 93 exchanges worldwide including Huobi, Binance, OKex, etc. The market price has risen to a maximum of $43,948, with a return on investment of up to 96,583%. It is easy to see that for DeFi applications that have a high operational threshold, as well as the difficulty of screening users due to too many products with too much money spread out, the staking plays an important role in which cannot be ignored.
Gatling Finance chooses to base on the Huobi ecological chain (Heco), which has the advantages of faster and more efficient transactions, lower fees, and low operating costs compared to the ethereum public chain and combines the market demand and the development characteristics of the Huobi ecological chain Heco to purposefully propose a revenue aggregation staking solution to support the small coins on Heco (such as HT, HUSD, BAG, etc.) to pledge to obtain GTL and to fully protect the safety of users’ assets in combination with its own team’s many years of experience in smart contract development and financial system development. cir, etc.) pledged to obtain GTL, and combined with its own team’s many years of experience in blockchain smart contract development and financial system development, it fully protects users’ asset security and is committed to lowering the threshold of user participation and improving the on-chain experience.
Gatling Finance and Heco grow together and complement each other
Gatling Finance will cooperate deeply with several projects in Heco ecology, with richer revenue models and product forms, realize smart contracts and on-chain intelligent monitoring, automatically select higher-yielding investment targets for investors, and improve the efficiency of Gas usage, so that users do not need to actively manage their funds, nor do they need to suffer from asset volatility exposure to obtain higher revenue reporting.
As Heco is still in the early stage of development, Gatling Finance will set up a three-month on-chain observation period in order to avoid asset losses to users due to project development problems. During this period, users can use small coins within the Heco ecosystem to participate in platform pledge farming, obtain platform tokens GTL earnings, and participate in platform governance dividends. Gatling Finance will actively deploy the DeFi staking among cross-chain assets, expand more ecologies, and develop together with the Huobi ecosystem chain. After the DeFi application on Heco is more abundant, it will be opened for global users to provide the most robust, safe, and high-return investment services for users.