The contract market will add another fierce will explain the currency China strategy

On the afternoon of October 29th, the coin "One Sister" He was invited to be the guest chain node live room, and once again met with the chain node community users one year later, a sister shared a lot of new directions and new actions of the currency security, and said At present, the business focus of the company is contract trading, and in the overall direction, the future will pay more attention to the Chinese market and value the user experience.

(The following is a summary of the live content, organized by chain nodes.)

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What is a sister busy recently? Where is the focus of work?

He Yi: The currency security has just launched the contract product, so the current focus of the work is to promote the contract of the currency security. Recently, the currency has also opened the Venus project, which has been promoted for some time.

In the near future, I will do more AMA and live broadcasts in China, and talk to you about the Chinese layout of the currency.

What is the story behind the acquisition of the JEX futures trading platform? What is the difference between launching two contract products at the same time?

He Yi: JX CEO Chen Xin is my old colleague in 2014. The earliest contract products in the currency circle came from Chen Xin. JEX is very powerful in terms of product capabilities and technical capabilities. At that time, they wanted to start their own business, and after so long stumbling, they finally decided to join the currency family.

The options products before JEX are mainly for ordinary users and Xiaobai, but for institutional users, there are still many places to be upgraded. For example, services such as T-type quotations are still being gradually improved.

Speaking of Binance Futures, the contract team of the company is from the CME (Chicago Commodity Exchange), a veteran of the traditional financial industry. However, when making coin products, it did find many differences with traditional financial contracts, so it took a lot of time to study the trading logic of the currency circle.

Simply put, JEX and Binance Futures are constantly optimizing the underlying logic of the product. I have used a word to describe our contract, called the "Clean Water Room" type of product. In fact, like a big factory, it has a good infrastructure and facilities, and the space is very spacious, but the current transaction category is still relatively simple. We are going to iterate step by step. For example, at first we only had 20 times leverage, but now it is 1 to 125 times leverage and can be adjusted freely.

I think the current contract product form is still not the best product form. Anyone who has worked in the currency security knows that our internal working environment is "pressure cooker". Launched two similar products for internal horse racing, giving pressure from the inside, hoping that the product can be better and better.

Why choose to join the contract market now? Is the policy loose or want to seize this big market?

He: I often receive feedback from some users on Weibo, saying, "I play the contract myself, then burst the position, can you forward my experience, I want to defend my rights!", we used to think that this high-power Leverage is not the product that is most beneficial to users.

But in the process, I have also received questions from users, saying that if you don't open the contract, I will leave. Because of the strong demand of users, we believe that the timeline of the contract should be pushed forward.

There is a type of user in the currency circle who chooses to trade digital currency because its price fluctuates more. This type of user accounts for about 10% of the currency. They want to cross the class and their opinions are very important. In the stable phase of the currency, this type of customer, and miners with hedging needs, have a strong willingness to contract to help make a profit in the bear market. This is the original intention of our launch of such products.

But I still think that the contract is a high-risk trading category, so I recommend that ordinary users try to do as little as possible.

What is the difference between Venus and Libra ? What do you think of DECP ?

He Yi: The emergence of stable coins such as Libra can help people in more countries and regions get financial services. In fact, Xiaozha said that it is very right. There are more than 1 billion people in the world who have not experienced the convenience brought by any financial services to their lives. This kind of people is in fact urgently needed to be developed.

I think the central bank's DECP is very good. It is a very good start. In the future, we can enter the life of every ordinary person. Just like you used to buy a pancake on the roadside, you don't think that your aunt is using Alipay or WeChat. Money.

Open OTC ? How to balance compliance and security?

He: The OTC in China is now using the C2C model. We have also introduced the T+1 rule, mainly to avoid illegal money laundering. For OTC users, we feel that risk control is the first.

Any user does not want their bank card to be frozen, and often the black money of telecom fraud will be more hopeful to withdraw cash, and the risk control process is simple. For this dimension, we have imposed restrictions on withdrawals.

What is the 0 trust principle inside the currency security ?

He: The so-called 0 trust principle is that any employee of the company, regardless of the level, each person's authority will be compressed to a small scope, no one can get all the information.

How to face public opinion and questioning when attacking the Chinese market?

He Yi: This is actually related to China's competitive environment. The history of China's Internet development, such as the early 3Q wars, is all about fighting. I think the current users are very different from the previous users, they have the ability to think independently.

For example, the destruction of BNB recently, the tail number of three destructions is just 888. This is actually just our daily superstition. Maybe the older you are, the more you believe in life, the second, the third, the feng shui, the four yin and the five, so I and CZ have completed three times in a row. For example, in the third quarter, the amount of transactions in the third quarter was less than that in the second quarter, but the destruction is still increasing. It is also because our business is expanding, and the profits of all business lines of the currency security will be involved in the destruction.

Su Dongpo and Fayin have a small story. The general idea is what you are like and what others are in your eyes. This story actually reflects the current pattern of industry competition. Some of the friends can't do it themselves, and they take it for granted that others can't do it. If they want to make a fake, they take it for granted that everyone is making a fake!

In fact, the competition of domestic trading platforms is still quite fierce. The head effect must be very obvious. The players in the head will basically cover more than 80% of the user scale. This is why all trading platforms are shouting "I am the universe." One". But in the end, there are not many users, and my heart is the clearest.

What kind of ecology does the coin want to create? How will the next step in the Chinese market be laid out?

Hei: The biggest meaning of the blockchain should be to let the value flow more freely. The currency security wants to be the underlying architecture system of the entire blockchain industry, which is equivalent to Google's entire Internet.

We hope to build upstream and downstream from the perspective of expanding the influence of the industry, rather than what part of what to do to make money, what to do first.

In fact, the transaction is still a core traffic concentration point, and it is also the fulcrum of the currency security. So we will also optimize the user experience in the transaction. After that, whether it is a website or an app, the user will be given simpler and direct guidance. The currency security should use lazy logic to remove many thresholds.

Another focus is on the contract, and further product iterations will be made in the second half of the year to try to catch up with BitMEX before the Spring Festival.

The third is more construction in the industry. We hope to contribute some of our own strengths in the process of China's booming blockchain industry.

Text editor: Jun Yao