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, the original author: Stone.Defi, compiled by Odaily translator Katie Gu.
Stone is the only one that focuses on creating a stable and reliable revenue management framework for all users in the DeFi field. Our focus is to develop innovative asset pools that maximize returns while ensuring liquidity provider (LP) capital is as safe as possible. In the process, our aim is to create the most vulnerability-resistant platform to meet the needs of the DeFi industry.
Due to the high miner fees, ordinary people have no advantage in mining strategies, and only holding a large amount of funds can make a profit. And a simple mistake can lead to wasted effort, leading to problems such as dirt dogs, fakes, bad smart contracts, and security risks. This makes ordinary miners suffer daily, it is almost impossible for them to keep up with the upcoming projects in time, and new projects appear every day.
We believe that DeFi and mining strategies should be fun and should be based on an excellent collaborative culture in the community. We are actively looking for community contributors to build our culture, have intense discussions on liquidity mining, analyze the upcoming liquidity mining market and actively contribute new strategies.
In this article, we share the core principles of the project. Stone is not a tool but a revolutionary innovation to build smarter and safer instances of mining revenue. We call on friends who share our beliefs to join the Stone community, let us work together to build a long-term DeFi project.
Why does DeFi need the participation of stable and reliable yield (Rock Solid Yield)?
We believe DeFi is here to stay and become a large use case in the cryptocurrency space. We will see more financial infrastructure and yield farming machines emerge in the future than we can even imagine now. As the industry develops and matures, DeFi will bring the next wave of investment and talent.
There are some protocols that chase high yields with ever-changing strategies or aggressive strategies, but only stable and reliable yield protocols can provide the sustainability and stability that favor large sums of money. For example, an insurance agreement can provide insurance to Stone, and can also generate premium income through Stone. Funds of Funds and DAOs will also have the confidence to use funds for yield farming.
Problems facing current DeFi income
There are so many amazing projects out there exploring innovation in different directions. However, we believe some key elements are missing across the industry:
Most projects are still highly centralized, and community participation is not deep and very limited;
The code is not open source and there is no transparent governance. System changes and funds deployment are done anonymously, which poses a significant security risk;
High-risk and insecure strategies;
The development team is not solid enough.
This is why we created Stone, to work with the community we want to build to build the yield management protocol we want to see.
Stone: Design principles based on SOLID
We propose the following SOLID principles for Stone:
S - Solid i.e., a steady return
· Risk management and reward management are for stable returns. DeFi is very complicated, and it is often disappointing to only look at the APY (annualized yield) indicator. However, when considering income indicators, risk, return, and the sustainability of this return must also be considered. This is a principle widely used in traditional finance.
O - Open i.e. open collaboration
· Collaborate with as many community members as possible to arrive at the best solution. From day one, make sure you have the right incentives in place to reward contributors. Stone is so flexible that any project can be connected to it. The Stone protocol, including policies, will be open-sourced for greater transparency. This also makes it easy for the community and partners to contribute to protocol development.
L - Long Term ie, long-term development
· Build a culture of commitment and inclusivity to attract more contributors with the right incentive system. In order to lead the technical development, the Stone development team and some individuals are working hard to launch the Alpha and public version of the Stone protocol for the community, and aim to lead the technical development for the next two years, and then the community will decide the next step. The Stone development team is a development company with extensive experience in blockchain development and runs various blockchain validators such as Polkadot, Terra, Solana, and Oasis.
I - Increment ie incremental deployment
Improvements are made through extensive testing and continuous learning from other projects. DeFi is a nascent industry that requires a lot of trial and error. Stone should gradually enter Alpha testing (limited participants), and then gradually open to all users.
D - DAO i.e. DAO driver
· Provide a clear roadmap to guide the protocol of the DAO specification. We acknowledge that a small committee will be more practical in the initial stages, and that a fully decentralized organization will take time. Stone started discussions with the community from day one and ensured that sufficient funds (tokens) were left for the DAO to manage in the future.
STN as the basis
The governance token of the STN token will play a key role in the Stone ecosystem. The main function of STN is for protocol management, and to further guide liquidity supply to increase rewards. Each mining pool has its own dedicated STN reward plan to establish a sufficient scale. More interestingly, STN will be used to incentivize portfolio rebalancing. For example, STN rewards may be higher for certain treasury pools in order to attract more funds there to maximize yield farming. A part of STN will be reserved for community contributors and future development, which will be decided by the committee, and gradually the entire community will participate in decision-making.
The Stone Protocol views yield farming as a concept where token holders create value. This not only extends yield farming to Ethereum, but can be used on other blockchains in the future as well. An easy-to-achieve goal is to provide mining pools for staking on other blockchains, and experiments are currently underway to enable staking of non-ERC20 assets to unlock staking liquidity. For example, allowing the purchase of DOT on the Stone platform and issuing STN as a reward for those stakers.
call to join the community
We launch Stone as a stable and reliable protocol to build a risk-resistant technology platform, an inclusive and incentivized community to ensure stable long-term development and a community culture of assistance.
Stone is not a tool, but a revolutionary innovation to build a smarter and safer mining method. We call on friends who have the same ideas as us to join the Stone community and build a long-term DeFi project together. DeFi ecological construction is a long process, why not continue to improve the strategy like us, sow the seeds for the next big harvest of income!
Twitter: https://twitter.com/DefiStone
Telegram: https://t.me/stonefortress
Website: https://www.stonedefi.io/
We've opened up the Stone Discussion community, and you're welcome to keep up to date on our progress on Medium and Twitter.https://t.me/stoneCNofficial
