Once the box is opened, what remains is endless exploration and longing for it.The birth of Bitcoin in 2009 allowed humans to independently hold and trade their own property for the first time, and it was safe and no one could challenge its legitimacy.Since then, the blockchain box has been opened, and the era of what William Mogg and James Davidson consider "sovereign individuals" has arrived.
Bitcoin ushered in the era of decentralized finance, YFI opened the first application of DeFi, and DeFi is redefining the future of finance.DeFi is an open financial system powered by smart contracts and blockchain oracles that provides users with permissionless and geographically restricted access to a wide range of financial instruments without handing over control of assets to intermediaries such as brokers or banks. In terms of capital efficiency and security, DeFi continues to challenge various roles in the traditional financial system, including money, central banks, commercial banks, exchanges, insurance, derivatives, payments, and asset management, and has the potential to replace the two-hundred-year-old traditional financial system.Since its development in 2020, DeFi's total lock-up volume worldwide has increased by more than 800 times, exceeding Deutsche Bank's total storage capacity. We are seeing a major shift in the underlying infrastructure that powers financial applications, and DeFi is changing our understanding of authority and control, transparency and risk.The development of blockchain finance is inseparable from efficient application scenarios, but subject to the limitations of Bitcoin technical architecture, its scalability and efficiency cannot meet the current and future use scenarios of decentralized finance, and to produce phenomenal applications for Web 3.0, it must be redefined from the bottom of the technology.
In this context, the Qitmeer public chain was born with the mission of building a global payment system for Web 3.0 and solving the problem of national sovereign payment. The Qitmeer public chain continues to adopt POW's most secure consensus mechanism, but changes the chain structure of Bitcoin to the topological structure of BlockDAG, which breaks the blockchain impossible triangle. Similar to BT download, as the transaction volume on the Qitmeer public chain increases, its transactions will be more efficient. Achieving a balance between security, fairness and scalability, breaking through Bitcoin's scalability limitations on the protocol and making a perfect upgrade in the payment infrastructure space.
The Qitmeer public chain is an infrastructure that requires DeFi to operate and unlock value, and since then, ABBA has been born.ABBA is a DeFi ecological aggregation platform built on the Qitmeer public chain, similar to YFI on the Ethereum public chain. The operation of the platform is open and transparent, and it is managed, voted on and operated through the DAO organizational structure.ABBA ecological aggregator provides efficient asset management functions, it starts DeFi financial management projects by building contract pools of ABBA/USDT and ABBA/MEER, and users can choose to allocate multiple assets to obtain monthly income and share income of the underlying investment amount. ABBA can simplify the complexity of DeFi through contract aggregation, promote the popularization of DeFi finance, and eventually become a unified front-end and entrance to the DeFi field on the Qitmeer public chain.ABBA has played a vital role in the Qitmeer public chain ecology, by opening up the liquidity between different financial DAPPS on the Qitmeer public chain, it can finally truly realize the decentralized financial world where everyone can freely participate and freely control asset distribution, realize the value binding of the Qitmeer public chain native tokens MEER and ABBA, and is expected to become YFI on the Qitmeer public chain.ABBA community has rich experience in international operations, covering more than 20 high-quality sub-communities, with tens of thousands of stable community users. In the next few years, ABBA will further optimize the technology and ecological alliance to provide a series of financial services such as lending, trading, derivatives, payment, insurance, NFT, etc., to create a new comprehensive financial world based on smart contracts in a decentralized way.At present, the ABBA ecological aggregation platform is testing the code contract, and will be unveiled in the near future.Bitcoin has opened the magic box of blockchain for the first time, and what kind of situation will the ABBA ecological aggregation platform open up in the DeFi world? We'll see!