At 20:00 on June 23, 2022, the latest informal pomelo talk column of the EOS Network Foundation will be broadcast. This event will focus on the Yield+ blue book and its EOS liquidity incentive plan that have attracted much ecological attention.

With the release of the Yield+ Blue Book and the continuous advancement of other work, the community's willingness to learn more about the Yield+ incentive plan is also increasing. Therefore, in this event, we are very honored to invite Denis Carriere, CTO and co-founder of Pomelo and EOS Nation, Raven, Defibox Operating Manager, and Guan Mou, founder of Pizza, to conduct in-depth discussions on the topics of Yield+ and EOS DeFi.

This article is a review of the exciting content of this AMA event, and the content has been edited.

self introduction

First of all, let us welcome the arrival of all the guests, and invite the guests to introduce themselves to you.

● Denis Carriere replied:

Thank you very much for being able to participate in this event and meet friends from the Chinese community. I am the CTO of EOS Nation. I have been in the community since the release of the EOS mainnet and have not left. I am currently mainly responsible for some incentive mechanisms, including applying for the development of smart contracts. I am also very happy to be a member of the Yield+ working group , hoping to help improve the EOS incentive system.

● Raven replied:

Hello everyone, I am Raven from Defibox. Defibox can be said to be the head DeFi project of the EOS ecosystem. We currently have three major agreements: Swap, stable currency USN, and lending. I am very glad to be able to participate in this Yield+ event today and discuss with the community the future of Yield+ and the future of EOS.

● An official replied:

Hello everyone, I am Guan Mou, the founder of Pizza Lending. While in charge of the Recover+ working group, I also participate in the Yield+ working group. It can be said that I am an old face in the EOS community. Recover+ mainly solves the methods and methods in dealing with hacking incidents. Usually, I also serve as a consultant for other projects, so there are more opportunities to show up in the community.

Q&A session

Question one:

We have seen that the guests participating in our AMA event today include not only the chief author of the Yield+ Blue Book, but also the top DeFi projects in the EOS ecosystem. Everyone must have a deeper understanding of the EOS liquidity incentive plan proposed by the Yield+ Blue Book.

Therefore, ladies and gentlemen, can you briefly introduce the EOS liquidity incentive plan within 200 words? What problem is it designed to solve? How does it work? What are its advantages?

● Denis Carriere replied:

From a macro perspective, Yield+ is committed to bringing more liquidity on the chain through incentives, prompting more and more dApps to deploy assets on the chain, adding more DeFi projects, increasing the health of the project, and increasing more Protocol transactions, etc., bring more activity to the chain, allow our entire ecosystem to develop more in-depth and healthy, bring a deeper liquidity fund pool, and create a healthier and more prosperous DeFi ecosystem. Let all active participants continuously benefit from increased on-chain activity.

● Raven replied:

The Yield+ Liquidity Incentive Program is designed to help develop the EOS DeFi ecosystem, increase the total locked-up volume (TVL) of EOS DeFi, and increase the chances for users to obtain benefits from its EOS ecosystem. Currently, EOS lacks systematic and efficient incentives, resulting in There is a serious shortage of project parties participating in the EOS ecological construction, and the participation of currency holders is not high. However, Yield+ can solve these problems very well. Its operation mechanism is assessed by the amount of locked positions, and its advantage is simple and efficient.

After several months of research and discussion by our working group, we found that Yield+ is a good method, and it has been successfully verified in other mainstream chains, such as Fantom. It attracts project parties and DeFi participants, increases the amount of locked positions on the chain, and activates the entire ecology. I think this is a very good opportunity for EOS, thank you.

● An official replied:

First of all, EOS inflation is a relatively limited but very effective tool of the EOS Network Foundation, so how to make good use of it is very important. We have established various working groups to promote the development of the EOS network.

Yield+ provides a good channel. As an EOS holder, you can feel that the EOS Network Foundation will flow inflation funds to the project side, and then the project side will reward the holders after receiving rewards. The holders hold EOS After feeling the benefits, the amount of locked positions will be increased, and then a positive cycle will be generated. So Yield+ is actually a very good thing for ordinary currency holders.

Question two:

The current EOS liquidity incentive plan proposed in the Yield+ Blue Book is still just a plan. What will its future implementation roadmap look like?

● Denis Carriere replied:

At this stage, we are developing various tools, mainly the development of smart contracts and some front-end and back-end, including the development of oracle machines. Around August, we will go online for testing, and then start the smart contract audit at the end of August. The entire audit process, from audit to review to developer audit, is expected to last for one month.

At present, the overall progress is relatively smooth, and it is expected to meet with you at the end of August.

● Raven replied:

Phase 1: Focusing on the real assets EOS and USDT as the assessment of the lock-up amount, 625,000 EOS will be rewarded, and the budget is very sufficient. Especially around the definition of real assets, it has virtually solved many community concerns, making the entire Yield+ startup process simple and efficient, and sufficiently decentralized.

Phase 2: After sufficient experience has been accumulated in Phase 1, the working group will consider Yield+ to provide more support, including EVM Trust, cross-chain, stable currency, etc.

The third stage is also an acceleration stage: if we succeed in the first two stages, the quarterly reward in the third stage will be as high as 2.5 million EOS. If we can reach the third stage, then EOS should have gotten out of the predicament and regained its new life .

This is my general summary. For specific roadmap costs, please refer to page 23 of the Yield+ Blue Book.

Question three:

We noticed that the EOS liquidity incentive plan uses the TVL (total locked volume) of the project as the measurement indicator.

What do you think of this design? In addition to formulating a liquidity incentive plan, what other DeFi incentives and support plans for other public chain ecology can be used as a reference for EOS ecological learning?

● An official replied:

Incentive plans similar to Yield+ are actually divided into two types: one, such as Fantom, directly uses tokens for incentives, and the other is a cash fund, which directly establishes a fund such as 1 billion US dollars, and then supports developers. There are two incentive methods The difference is still relatively large.

For the project side, I feel that Yield+ has added a completely different dimension. The rewards obtained through Yield+ can be better distributed to users, and then lock positions can be added to add various new ways of playing.

The design of Yield+ probably started in February. In the past few months, I have been participating in Yield+ discussions. I think that when users get rewards, the easiest way is to directly repurchase them into project tokens, and then let the project Square tokens perform better.

In this case, first of all, we will attract some users back. Then wait for a little more users, and then other new developers will find that the number of users has increased, and they will gradually gather back, which will produce positive development, which is the so-called spiral growth.

● Raven replied:

You can first look at the research report on liquidity incentives on pages 9–20 of the Blue Book. The contents of the blue book are extracted from the research reports of various groups. In Fantom and Polygon, the two public chains, comparing the various data before and after the launch of the liquidity incentives, it is found that in the months after the launch of the plan, the data on the chain, whether in terms of lock-up volume, transaction volume, number of users, active Speed, currency prices, etc. have all been greatly improved. So from an empirical point of view, this design is also suitable for EOS.

The EOS ecology lacks the construction of project parties. We need to be able to attract excellent project parties, but also avoid wasting incentives on speculators who can only fluff their wool and not work. The entire mechanism design of Yield+ solves this problem very well. In addition, on page 27 of the blue book, we have done relevant data modeling analysis, and also provided theoretical support and matters needing attention in terms of data.

The amount of locked positions in a public chain determines many things: if there are locked positions to prove that there are participants, then there will naturally be transaction volume and activity, and these will bring benefits to the public chain, such as transaction fees and usage fees , Gas fees, etc.; secondly, an active public chain naturally has more exposure, more newcomers join, and a positive cycle of currency price rise.

At present, other public chains also have various other support plans, but the Yield+ model is simple, effective, widely applicable, and decentralized. The community is also welcome to share other modes for your reference.

Question four:

We all know that DeFi is an important part of ecological construction, so the EOS Network Foundation also attaches great importance to the development of DeFi.

Do you know where to get help from the EOS Network Foundation? Have you ever applied for or received help from the EOS Network Foundation? What other aspects of assistance do you think the EOS Network Foundation should provide to develop the DeFi ecosystem?

● Denis Carriere replied:

When doing development on EOS, developers hope to have more funding and support methods. We currently provide many methods, the most important of which are two:

One is by applying for Pomelo's crowdfunding funding. Pomelo starts a financing season every 3 months. The next financing season will start in July. All developers who provide public products for EOS can apply for financing support.

Another is the ENF funding framework. Any open source EOSIO project can apply for a specific level of funding, and will receive a funding return at each delivery milestone. Now we have many funding methods and channels for applying for funds, and there may be more corresponding channels in the future.

Question five:

In fact, there is a point of view in the community: DeFi is currently facing a development bottleneck. The future development of DeFi has been a hot topic in the community.

What do you think will be the next innovation point of DeFi? Which DeFi segment tracks should we pay attention to?

● Raven replied:

DeFi (decentralized finance) can be regarded as a blockchain that is close to the actual application scenario. It is different from traditional finance in many ways, and it is also its charm. Of course, it also has risks and disadvantages.

DeFi is indeed facing some development bottlenecks, but I believe that the story of DeFi has just begun. Just like the financial industry, it has existed since ancient times. Modern capitalism and market economy have brought financial development to an unprecedented height, and DeFi is decentralized. Finance, as a novelty, is just in its infancy.

I think the next innovation point of DeFi should be as a similar financial service that can serve the hotspots of the blockchain, such as the DeFi of NFT, the integration of Web 3.0, Metaverse and other DeFi.

● An official replied:

First of all, after this round of adjustments in the entire DeFi, the story is in a period of indifference. It would be unrealistic to discuss breakthroughs in the overall environment at this time.

Going back to EOS’s DeFi, I think EOS’s DeFi has a lot of room for development. It was not stimulated for various reasons before. When Yield+ is launched, and then EVM is launched, EVM plus Yield+, what new things can we launch? So what we should pay attention to should not be a certain subdivided field, but whether we can have any additional chemical reactions when the overall environment improves.

Question six:

At present, the EOS liquidity incentive plan, funding framework, Pomelo, and nine core working groups are taking multiple measures to jointly revive the EOS ecology. Let us make a relaxed and beautiful idea:

What will the development pattern of the EOS DeFi ecosystem be like in the next year?

● Denis Carriere replied:

In fact, it is hard to imagine what we will develop in the next year, but it can be predicted that there will be very positive development. We will have more and more deployments of smart contracts and more and more projects , more and more transactions, there will be more and more DeFi on EOS and EVM, I am very confident in the future, and the community can also look forward to it.

Yield+ is open to all agreements. Everyone is welcome to actively apply for the Yield+ incentive plan. I believe that Yield+ will bring you very real benefits.

● Raven replied:

I hope that Yield+ can really bring some vitality to the platform. As an ordinary EOS holder, you can also play various projects every day, no longer need to envy other chains, and no longer go to other chains to play.

Everyone has persisted in EOS for so long, and the dawn has come. Yield+ will definitely attract many excellent projects to join, let's build the EOS ecology together.

● An official replied:

I hope that through this round of incentives, the existing active DeFi projects can increase the overall lock-up amount. If the current lock-up amount is 100, I hope it can be doubled or tripled.

The EOS Network Foundation has established nine working groups and introduced various measures to promote the development of the EOS ecosystem. Although the general user experience is not obvious in the short term, especially in terms of price, the environment of the entire currency circle itself is now also in a downward phase.

epilogue

epilogue

Thanks to the guests for their answers, leading us to learn more about the Yield+ blue book and its EOS liquidity incentive plan. So far, this issue of informal pomelo talk (Talk With ENF) has also come to an end.

Thank you for the wonderful speeches of the guests, thank you for your active participation, and thank you to the media partners, Block Rhythm, MarsBit, Chain Catcher, Foresight, Jinse Finance, Deep Chain Finance, DeFi Way, Carbon Chain Value, WebX Labs and cooperative communities7 O'Clock Capital's strong support for this event.

In the future, the work related to the EOS Network Foundation will continue to advance at a high speed. It is expected that with the help of the EOS Network Foundation, the EOS ecology can start the next chapter of vigorous development.

Make an appointment for the next informal pomelo talk (Talk With ENF), we will see you soon.

About Talk With ENF

Informal Talk With ENF (Talk With ENF) was initiated by the EOS Network Foundation to listen, communicate, and connect blockchain communities at home and abroad. The EOS Network Foundation will invite high-quality project leaders in the blockchain industry from time to time to chat about hot topics in the encryption field, share the development trend of encryption technology, and reveal the stories behind the encryption world. In addition, the EOS Network Foundation will prepare surprise benefits for everyone in each program. Actively participate in the live Q&A to have a chance to win benefits.

About the EOS Network Foundation

The EOS Network Foundation is a non-profit organization that aims to listen to the voice of the community, convey the wishes of the community, and support the development of high-quality projects in the community. It will become an information sharing bridge for the EOS community and provide funds, technology, operations, future planning, Key infrastructure support such as ecological construction further develops the full potential of EOS as the world's fastest governance-based blockchain.

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