DeFiChain Transparency Report Q4 2020

2021-01-14


In order to give our community and partners full transparency into what’s happening in front and behind the curtain at DeFiChain, we would like to publish our quarterly board report. For more information on the project please visit: https://www.defichain.com


Q4 Transparency Report Video:

Join us LIVE to discuss the Q4 Transparency Report on 13th January 2021 at 8pm Singapore Time:

We hope you appreciate the insights!

Thanks for your support and happy reading — Have fun! :)


DISCLAIMER

This transparency report does not constitute nor imply a prospectus of any sort. No wording contained herein should be construed as a solicitation for investment. Accordingly, this transparency report does not pertain in any way to an offering of securities in any jurisdiction worldwide whatsoever. Rather, this transparency report constitutes a description of the development and distribution of DeFiChain. Do not trade or invest in any coins, companies or entities based solely upon this information. Any investment involves substantial risks, including, but not limited to, pricing volatility, inadequate liquidity, and the potential complete loss of principal. Investors should conduct independent due diligence, with assistance from professional financial, legal and tax experts, on topics discussed in this document and develop a stand-alone judgment of the relevant markets prior to making any investment decision.

This document does not constitute nor imply a final technical specification of DeFiChain. Information presented in this transparency report, technical or otherwise, is meant to outline general ideas, designs and use-cases and is subject to change with or without notice. For the latest up-to-date technical specifications, check out the updates and documentations on the official website www.defichain.com The graphs, charts and other visual aids are provided for informational purposes only. None of these graphs, charts or visual aids can and of themselves be used to make investment decisions. No representation is made that these will assist any person in making investment decisions and no graph, chart or other visual aid can capture all factors and variables required in making such decisions.

While this transparency report was compiled with the greatest care possible, it cannot be guaranteed that all information is complete or accurate. The information contained in this document may include, or incorporate by reference, forward-looking statements, which would include any statements that are not statements of historical fact. No representations or warranties are made as to the accuracy of such forward-looking statements. Any projections, forecasts and estimates contained in this document are necessarily speculative in nature and are based upon certain assumptions. These forward-looking statements may turn out to be wrong and can be affected by inaccurate assumptions or by known or unknown risks, uncertainties and other factors, most of which are beyond control. It can be expected that some or all of such forward-looking assumptions will not materialize or will vary significantly from actual results. For any questions on a specific subject covered in this document, please contact us on partners@defichain.com


OUTLINE

Personal Message by the DeFiChain Foundation’s Chairman

1. FINANCE

2. BLOCKCHAIN RESEARCH & ENGINEERING

3. DEFI APP

4. WEB AND EXPLORERS

5. COMMUNITY DEVELOPMENT FUND PROPOSALS

6. COMMUNITY

7. BUSINESS DEVELOPMENT & PARTNERSHIPS

8. COMMUNICATIONS & PRESS RELATIONS

9. LEGAL & COMPLIANCE

LINKS & RESOURCES


Personal Message by the DeFiChain Foundation’s Chairman

Dear DeFiChain community, I am sure you agree that Q4 was one of the most successful quarters any project in the crypto ecosystem has ever experienced. Led by incredible engineering and community work, DeFiChain exploded in popularity by any metric you put to it and I want to thank everyone that helped to make this happen. As you will see, this is only the beginning!

In a small townhall session I recorded a review of the past quarter and actually DeFiChain’s entire history. You can watch this here: https://youtu.be/U9sO3_ql46I It will give you a bit of a glimpse into all the magic that the entire community managed to pull together and serves as a good summary if you want to share some background info with new DeFighters.

Let’s look at some metrics. A blockchain centred around DeFi is mainly measured based on two things:

  1. The DeFi value that is being transacted on it, and
  2. How many people use the service.

In Q4, we totally killed it: It all started with the launch of the DeFiChain DEX and its associated liquidity mining: https://dex.defichain.com/mainnet/pool The Total Value Locked (TVL) went up day by day and DeFiChain is now actually the largest DeFi protocol for Bitcoin, bypassing the Lightning Network, hitting approximately 80 mil USD by the end of 2020: http://www.cakedefi-review.com/DefiChain?tab=DEXTVL

With DFI being listed on Bittrex (https://global.bittrex.com/Market/Index?MarketName=USDT-DFI) in October 2020, the community grew and grew not only on Social Media, but also with its active addresses passing 11,000: http://www.cakedefi-review.com/DefiChain?tab=addresses.

This all resulted in massive global interest and the market cap soared to over 800 mil USD, hitting number 40 of all blockchains on Coinpaprika: https://coinpaprika.com/coin/dfi-defi-chain/ Price is not something we focus on or can influence directly, but as a community we can drive massive value to the project, which inevitably will be reflected in the price people are willing to pay to use the service over the long run.

So, looking at the upcoming quarter Q1 2021 and actually the entire year of 2021, I believe that DeFiChain is in a fantastic position to dominate not only the “DeFi on Bitcoin” space, but we also have a shot to become the largest DeFi project as a whole. U-Zyn made a wonderful presentation on a technical outlook of what’s coming up in 2021, and you should take the 15 minutes to watch it: https://youtu.be/fpivp2DyLKU To summarize our 3 main targets until the year-end:


I know these are lofty goals for the entire community, but I rather shoot for the stars and then land on the moon instead of aiming low and then falling behind others, who are more aggressive.

The five ways we get there by the end of 2021 can be summarized as:

  1. Easy and safe DeFi on the main chain (and not as a dApp on layer 2) built around Bitcoin.
  2. Full interoperability via atomic swaps to Bitcoin.
  3. Decentralized Tokenization of stocks and other assets on DeFiChain.
  4. More people and teams applying for community funding to work on and around DeFiChain.
  5. Significant partnerships with other blockchains and teams to interact with and build on top of DeFiChain.

Breaking these annual targets down, as a rough outline Q1 2021 should bring:

  1. Massive usability improvements of the DeFi App.
  2. Reduction of the needed collateral for masternodes to 20,000 DFI for increased decentralization.
  3. Atomic Swap Capabilities with Bitcoin to get in and out of DeFiChain completely trustless.
  4. DFI being picked up by 1–2 more Tier 1 exchanges.
  5. Community Development Fund proposals with an increase in development activity.

To translate these five deliverables into three measurable results for Q1 2021, that obviously greatly depend on the general crypto markets as a whole, I would see DeFiChain to:

  1. Have 10% of Uniswap’s TVL, which would currently be around 250 mil USD in TVL,
  2. Have 25,000 active addresses,
  3. Have a larger market cap than Uniswap, which is currently at around 1.3 bio USD.

All this would make DeFiChain one of the largest and most important DEXes out there. As you can see, our progress so far is just the beginning. DeFiChain’s mission is to bring full DeFi capabilities to Bitcoin in order to not only be the №1 Blockchain for DeFi on Bitcoin, but to achieve the big vision of being the №1 Blockchain for DeFi in general! I can assure you that with more use cases, more exchanges, more platforms and more users, DeFiChain will gain even more popularity and will change the DeFi landscape as a whole. I am very much looking forward to experiencing this with all of you.

DeFiChain is NOT DeFiChain Foundation. DeFiChain Foundation can NOT make DeFiChain or DFI valuable by itself. Neither myself nor U-Zyn nor anyone else by him- or herself is responsible for DeFiChain’s success. It is all of us. We win or lose together. We are all in the same boat. So, if you want DFI and DeFiChain to succeed, spread the word. Tweet about it. Share it in groups. Talk about it. Apply on various platforms and sites for DFI to get listed. If you are a C++ or JavaScript engineer, consider working with DeFiChain full time. Commit code on GitHub or interact on Social Media. There is no other way for us to succeed! It takes all of us. So, chip in and help out.

Dream. Plan. Execute.

Dr. Julian Hosp

DeFiChain Foundation’s Chairman


1. FINANCE

Last quarter review

Foundation funds:

https://explorer.defichain.io/#/DFI/mainnet/address/dJEbxbfufyPF14SC93yxiquECEfq4YSd9L + https://explorer.defichain.io/#/DFI/mainnet/address/dMysnhSbg8VbJJjdj273bNQi6i69z4WL6Z (pledged for airdrop) = 273.714M + 11.87M = 285.584M

Community development fund:

https://explorer.defichain.io/#/DFI/mainnet/address/dZcHjYhKtEM88TtZLjp314H2xZjkztXtRc = 8,369,272.72635888 DFI

Next quarter preview


Looking beyond


2. BLOCKCHAIN RESEARCH & ENGINEERING

Last quarter review

Next quarter preview

Looking beyond


3. DEFI APP

Last quarter review



Next quarter preview

Looking beyond


4. WEB AND EXPLORERS

Last quarter review


Next quarter preview

Looking beyond


5. COMMUNITY DEVELOPMENT FUND PROPOSALS

Last quarter review

Next quarter preview

Looking beyond


6. COMMUNITY

Last quarter review

Next quarter preview

Looking beyond


7. BUSINESS DEVELOPMENT & PARTNERSHIPS

Last quarter review

Next quarter preview

Looking beyond


8. COMMUNICATIONS & PRESS RELATIONS

Last quarter review

Next quarter preview

Looking beyond


9. LEGAL & COMPLIANCE

Last quarter review

Next quarter preview

Looking beyond


LINKS & RESOURCES

Official Website: https://defichain.com

Whitepaper: https://www.defichain.io/white-paper/

Blockexplorer: http://explorer.defichain.com

GitHub / Source Code: https://github.com/DeFiCh/ain

Twitter: https://twitter.com/defichain

Medium/Blog: https://medium.com/@defiblockchain

Facebook: https://www.facebook.com/defichain.foundation

YouTube: https://www.youtube.com/channel/UCL635AjCJe6gNOD7Awlv4ug/

LinkedIn: https://www.linkedin.com/company/defichain/

Reddit: https://reddit.com/r/defiblockchain

Telegram: https://t.me/defiblockchain

Current DFI price: https://coinpaprika.com/coin/dfi-defi-chain/

DFI Fact Sheet: https://docs.google.com/document/d/1c-nHPPFKiAMSGRQu3A_RDO8JBplJonwQWT_6g5Lfcc/edit#

Media resources: https://www.defichain.com/media

For media inquiries, please contact: partners@defichain.com

Work inquiries: We work with C++ and JavaScript and would like to have you on our team! Contact us on partners@defichain.com

Original: https://blog.defichain.com/2021/01/defichain-transparency-report-q4-2020.html