Decentralized Finance (DeFi) has been gaining momentum recently where all kinds of products are finding growing popularity. Products such as DeFi stablecoins, DeFi loaning platforms, DeFi trading networks, Oracles, DeFi derivatives, as well as DeFi ID verification. In the meantime, it also raises some concern about the ever increasing problem on asset security. Recently, we have seen a bunch of security incidents among the DeFi space where security is compromised due to smart contract bugs or management account breach.

Gate.io has always been a strong supporter of DeFi, considering DeFi technologies are an indispensable driving force behind the growth of the blockchain industry.

With its security-centric public chain, Gate.io is now investing heavily to build a highly-secure GateChain DeFi network, featuring stablecoin (USDG), Decentralized Exchange (DEX), Decentralized loan, and liquidity mining.
GT, the native token of GateChain, will serve as a crucial part of the GateChain DeFi eco. That means GT will not only be used as the collateral asset for getting the GateChain stablecoin USDG, while also being used in the meantime for liquidity mining rewards as well as for voting.
Gate.io will step up its efforts to buy back GT in the following days. To avoid causing shocks to the market, we will not reveal the specific buy-back amount and date. However, we will publish the GT blockchain records when injecting GT into the liquidity reward pool.

Highlights on the GateChain DeFi Eco:

USDG
Stablecoins have been the cornerstone of blockchain-powered trading. We will use USDG as the base currency for the GateChain DEX.The trading of blockchain tokens and other stablecoins will be conducted with USDG as the middleman. Specifically, we will roll out our stablecoin USDG through a Collateralized Debt Position, where anyone can collateralize GT and high-quality blockchain tokens to produce USDG. Users can trade USDG to provide liquidity and win rewards.

DEX
DEX is the core of the GateChain DeFi network. DEX is more open and transparent in comparison to centralized exchanges, enabling everyone to deploy a trading market for blockchain assets anytime. Thanks to its decentralized feature, high transaction throughput (2000+TPS), and fast block confirmation period (4 s), GateChain is very suitable for running a DEX. Moreover, with its Vault Account feature, GateChain is able to prevent atic risks.

Decentralized Lending
With its centralized exchange, Gate.io has been offering Margin Trading and Borrow & Lending to its users, with a loan amount that hit 100 million USD. Going forward, we will leverage our previous experience and build GateChain DEX to a platform with stunning borrow and lending services to our users.

Liquidity Mining
Gate.io will create a reward pool for the USDG network and GateChain Decentralized Lending via GT buy-back. We encourage market makers to collateralize GT to produce USDG, and strengthen liquidity for GateChain DEX and the Decentralized Lending platform.

Decentralized Governance
GateChain Mainnet contains a Decentralized Governance mechanism, where each GT holder is eligible to vote. We encourage users to participate in GateChain and its DeFi eco through proposal submissions and voting.

Cross Chain
As our security solution is also an attractive supplement to other public chains, GateChain will integrate with multiple public chains such as Ethereum, Bitcoin, Cosmos and Polkadot chains to enrich decentralized products.

Fingerprint Hardware Wallet
Asset security is of considerable significance to DeFi, since in DeFi scenarios, users have to keep their assets on their own. However, most users are vulnerable to private key breaches. As a response, GateChain provides a decentralized Vault Account, where users can put large sums of assets. At the same time, we will provide a Fingerprint Hardware Wallet for daily use, ensuring the private key will be kept within the Hardware Wallet, while enabling users to do routine trading and transfers. Users can authorize transfers with fingerprint verification by linking the Hardware Wallet to their computers or mobile phones. The first Gate.io Fingerprint Hardware Wallets will be available soon and we will distribute them to our users for free.

Decentralized Oracle & Decentralized KYC
With its efforts in asset management and providing trading services, Gate.io will look to team up with Oracle pioneers and decentralized KYC leaders to prove relative services to its users.

Based on its strong technical team and huge user base, Gate.io will seek to create a sustainable GateChain DeFi Eco with diversified DeFi products.

Please note that amid the current DeFi mania, FOMO is stronger than ever. In this situation, there might be some unreliable projects scrambling to seize the spotlight. When the market cools down, there might always be a price crash. Volatility is abundant as ever. Please be cautious when making investments.



Gate.io
Aug. 15, 2020