Original title: Unexpectedly, U.S. stocks can be traded on DeFi, the action is really fast
The main theme of 2020 is DeFi, and for 2021, it is DeFi.
In the blockchain world, the only tool that can be used is currently DeFi. Next year’s bull market will still be the DeFi market.
Now the DeFi market has developed a very rich ecology, with leading brothers in lending, trading, derivatives, and asset management.
What is missing in DeFi?
1. What DeFi lacks, lack of assets
DeFi is decentralized finance, and finance is money.
With more high-quality assets, DeFi can play more smoothly. In 2020, the amount of funds locked in the DeFi ecosystem on ETH has risen from 1 billion US dollars at the beginning of the year to 17 billion US dollars. DeFi is also exploding all the way, as shown below.
Without money, it is really difficult to play finance. For example, TRON and other public chains are more difficult to play DeFi. Although the speed is faster than ETH and the fee is much lower than ETH, it is difficult to play with the lack of high-quality assets.
As the saying goes, it is difficult for a clever woman to cook without rice. If DeFi continues to explode next year, it will attract more high-quality assets to the DeFi ecosystem. It is obviously unreasonable to rely on the current assets of 17 billion US dollars to prop up the increase of DeFi tokens several times to ten times.
DeFi’s five elements are short of gold, and DeFi will continue to explode. Not only must there be more innovative projects, but also more high-quality assets must enter DeFi.
2. Where do the assets in the DeFi ecosystem come from?
So in the future, where will the assets in the DeFi ecosystem come from? I think there are three aspects:
1) Cross-chain assets, Amber Free Assets enter the DeFi ecosystem, for example, more BTC crosses to ETH, and ETH assets enter the DeFi ecosystem;
2) Assets on the chain, introducing high-quality assets other than Amber, the market value of the entire Amber is only 550 billion U.S. dollars, and no apple has a large market value. Out of Amber, there is the sea of stars outside.
3) Native assets, DeFi creates its own native assets that belong to DeFi, and realizes that it creates bubbles for itself, such as the algorithmic stable currency AMPL and other assets.
Regarding assets on the chain, U.S. stocks can be traded on DeFi.
3. DeFi, introducing US stocks into the blockchain world
In the field of cryptocurrency, many organizations have tried to introduce U.S. stock assets into cryptocurrency, but most of them are centralized exchanges with little success.
It was an exchange called BISS that first introduced US stock assets into the blockchain world in China, but it has been shut down. The BISS exchange provides US stock trading in China, which involves many legal issues, which are difficult to solve, and it is no surprise that it is shut down.
Now that DeFi has taken the banner, DeFi has no KYC, no access mechanism, and free circulation on the asset chain. Obviously, to do this, the resistance will be much smaller. The outcome remains to be tested.
U.S. stocks are a very attractive asset class in the world. Star stocks such as Apple and Tesla have emerged. However, for most people in the world, the opportunity to enter the US$36.3 trillion market is limited.
Mirror Protocol, a protocol to introduce US stock assets into the blockchain world, was launched on December 4.
Mirror Protocol tracks the prices of stocks, futures, exchange-traded funds and other traditional financial assets by casting synthetic assets (mAssets) and anchoring the price of U.S. stocks, thereby linking cryptocurrencies with traditional markets.
Therefore, the U.S. stock tokens minted by Mirror do not represent the real ownership of the stock in reality, but only anchor the price of the asset without generating dividends. Mirror uses the Band oracle machine to track and update the price every six seconds to keep the US stock token price minted by Mirror in line with the US stock price.
At present, Mirror has minted Apple, Tesla, Twitter, Microsoft and other stock tokens, which can be traded on Uniswap and Terraswap.
Mirror Protocol issued the governance token MIR and started liquidity mining. At the same time, airdrops are carried out. If your wallet account holds 100UNI or more in your wallet before November 23, you can receive 220MIR. The airdrop address:
Mirror Protocol uses synthetic assets forged, which greatly reduces the threshold for ordinary people to participate in the US stock market. There is no need to hold entire shares, no review, and unlimited trading.
As for whether Mirror can be traded and tested by the market, it is estimated that there will be more agreements to incorporate more high-quality assets into the blockchain world.
DeFi’s composability and free circulation have broken many boundaries, and all this has just begun. What tricks can be made is very worth looking forward to.
