全面开花 波卡DeFi的爆发点会在哪——499DeFi Rocket

以下为AMA全文

海带：请您介绍下您自己还有您的团队和项目

Please introduce yourself and your team and projects？

Michael：大家好，我是polies项目的联合创始人Michael，今天很高兴能做客499block举办的ama活动。

我们团队成员主要来自加拿大多伦多，是比较早期就进入了区块链这个行业。

大概是16年的时候我们接触到了比特币，看完比特币的白皮书之后被其深深吸引，然后在当时在Poloniex上面购买过单价几百美金的比特币和几美金的以太坊，然后后面的故事大家也都知道了，17年整个行业的腾飞，再到18，19年的沉淀，我们也经受了这一轮周期的洗礼。当然，现在再回头看，选择在这个行业深耕是不会错的。

我们现在的团队内既有之前参与过知名交易所的开发者，也有在传统互联网和金融圈加入区块链圈的信仰者，也有像我这样在市场里呆了那么久，看到过很多早年在以太坊生态里获得成功的创业者们。所以我们希望在未来的波卡生态的Defi赛道中有自己的一席之地。

Polies是我们在这个市场这么久打磨出来的产品，Polies的全称是poli eco system，是一个新型的去中心化金融系统，我们是旨在为投资者提供公平、安全的交易，追求数字货币市场的健康发展。

Hi, I'm Michael, co-founder of the polies project, and I'm happy to be a guest at 499block's ama event today. Our team members are mainly from Toronto, Canada, and we got into the blockchain industry in early 2016. After doing research on Bitcoin, we were attracted by this amazing ideas, and then we bought a few hundred dollars worth of Bitcoin and a few dollars worth of ethereum on Poloniex. Fortunately, it is a decent investment. Our current team includes developers who have previously operated well-known exchanges, believers who have joined the blockchain community from traditional Internet and Financial industry, and entrepreneurs like me who have been in the market for years and have seen many great successes in the ethereum ecosystem. So we hope to have a good defi project in the Polkar ecosystem. Polies is a product that we have developed to achieve this goal . Polies is a new type of decentralized financial system called poli eco system, we are aiming to provide fair and safe transactions for investors and valuable assets for the digital currency market.

海带：怎么看待DeFi目前的现状，哪里可以优化？

What do you think of the current status of DeFi and where can it be optimized?

Michael：目前defi还在一个非常早期的阶段，从有这个概念开始才刚刚发展了两年的时间，当然defi目前生态中的的一些玩法和产品都的确给到了用户们不错的用户体验。DeFi的愿景是伟大的，但是要真正落地实行并不容易。在DeFi的实际应用落地之前，一切还都是未知数，如果未来没有实际应用的产生，DeFi注定还是一个泡沫。DeFi的火热催生了行业的一波热潮，但是潮水终究退去，其量级跟传统金融相比还是有很大的差距，投资者需要在市场火热的情绪下保持冷静思考的能力。但总的来看，DeFi的未来具备无限想象空间，但其应用场景和生态赋能仍需不断完善。

It is still in the very early stages of defi's development, only two years since the concept was first introduced. DeFi is still an unknown quantity until the actual application of DeFi gets off the ground, and if there is no actual application in the future, DeFi is doomed to remain a bubble. Overall, the future of DeFi has unlimited imagination, but its application scenarios and ecological empowerment still need to be improved continuously.

海带：Polies的DeFi协议和生态会包括哪些产品，分别会承担什么作用？

What products will Polies' DeFi protocol and ecology include, and what role will they play?

Michael：nPolies Money Market

为了在Polies建立一个去中心化的金融体系，Polies接受用户的基础资产抵押。在用户将底层资产抵押后，系统会根据汇率返还给用户一定数量的pTokens作为底层资产的凭证；比如用户存入ETH，则Ethereum（ETH）兑换成pETH。基础资产也需要pTokens作为支撑。同时，为了奖励用户对Polies生态系统的贡献，底层资产部分的利息支票将以pt的形式奖励给底层资产提供者，让他们参与社区的治理。

To build a decentralized financial system in Polies, Polies accepts the underlying assets mortgage from users. After the user has pledged the underlying assets, the system returns a certain amount of pTokens to the user based on an exchange rate as a voucher for the underlying assets; for example, Ethereum (ETH) to pETH if the user deposits ETH. The underlying assets would also need to be backed by pTokens. At the same time, to reward users for their contributions to the Polies ecosystem, the bottom asset part of the interest check will be awarded in the form of PT to the bottom asset providers to participate in the governance of the community.

nPolies ETF Market

去中心化的ETF提供了一个标准化的智能合约投融资工具，利用智能合约控制整个投资过程。资金被锁定在合约中，任何人都可以查看，降低了信任成本。投资者可以随时撤回投资，为他们提供充足的时间来认识和评估趋势。

The decentralized ETF provides a standardized smart contract investment and financing tool that uses smart contracts to control the entire investment process. The money is locked into the contract and can be viewed by anyone, reducing the cost of trust. Investors can withdraw their investment at any time, providing them plenty of time to recognize and evaluate trend

Polies Fund Market

波利斯基金市场的基金管理人与波利斯ETF市场的基金管理人经过同样的程序，先获得自治区的批准，再由相应的PT持有人投票表决。

Fund managers in the Polies Fund Market go through the same process as those in the Polies ETF Market, where they gain the approval of the autonomous community before being voted on by the corresponding PT holders.

此外，波利斯ETF市场上的基金管理人或其他PT持有人在产品最终推出前，需要承诺一定数量的PT来推出风险偏股产品。在满足波利斯监管条件的基础上，进行基金运作。政策的执行和监督将以协议的形式进行配置，而不是通过不透明的资产管理流程。

Additionally, the fund manager or other PT holder in the Polies ETF Market will have to pledge a certain number of PT to launch a risk-biased product before the product is finally introduced. The operation of the fund is carried out on the basis of meeting the regulatory conditions of Polies. Policy implementation and oversight will be configured on agreements rather than through opaque asset management processes.

如果投资组合盈利，基金管理人和委托人可以按超额收益的一定比例收取约定的费用和业绩费用。

If the portfolio is profitable, the fund manager and the person pledging the PT can charge the agreed-upon fee and performance charge as a percentage of the excess return.

波利斯将通过波利斯神谕进入全球主流加密货币市场，通过分析市场状况和舆情调查数据，建立数学模型代替人为的主观判断，进行投资决策，避免普通投资者的主观投资。这将有助于使货币投资行为显性化、有序化。智能合约会根据用户的风险偏好或资金量自动为用户分配交易策略，用量化交易策略代替人工低效操作。

Polies will access the global mainstream cryptocurrency market through Polies oracle and avoid the subjective investment of ordinary investors by analyzing the market conditions and public opinion survey data, establishing mathematical models instead of man-made subjective judgements and making investment decisions. It will help make the cryptocurrency investment behaviour evident and in order. The smart contract automatically allocates trading strategies for users based on their risk preference or the volume of funds, using quantitative trading strategies to replace manual and inefficient operations.

Polies Oracle and Polies Data

在安全性方面，智能合约不具备大规模数据处理的能力，总是会导致计算溢出，所以Polies Oracle有必要调用外部数据来代替计算。这样就避免了智能合约在被调用时被拒绝的问题；在扩展性方面，Polies Oracle解决了如果Polies协议指定数据源，上传数据可能被篡改的问题，所以弥补了智能合约平台网络效应和扩展性的不足。

On the security side, the smart contract does not have the ability for large-scale data processing, which always leads to computation overflow, so the Polies Oracle is necessary to call the external data instead of computation. This avoids the problem of smart contracts being turned down when they are invoked; in terms of extensibility, the Polies Oracle addresses the problem of uploading data that might be tampered with if the Polies protocol specifies a source of data, so it makes up for the lack of network effect and scalability of the intelligent contract platform.

Polies数据采用数据搜索引擎和大数据AI分析技术。Polies开发了高效的数据接口，连接了全球领先的币种交易平台的持仓和交易数据，并将其存储在优化后的专业时序数据库中。此外，在市场信息和舆情数据方面，Polies拥有基于高质量大数据的NLP和统计模型，对市场信息进行实时监测和把握。

Polies data uses a data search engine and big data AI analysis techniques. Polies has developed a highly efficient data interface that connects with positions and transactions data from the world's leading cryptocurrency trading platforms and stores them in an optimized professional time-series database. Furthermore, in terms of market information and public opinion data, Polies possesses NLP and statistical models based on high-quality big data for monitoring and grasping real-time market information.

Polies community

Polies社区是一个去中心化的投资社区，将结合Quora的行业问答模式和券商的桥梁链接模式，形成一个区块链和货币投资服务社区。这个社区将普通投资者与专业交易团队连接起来，让社区内的专业投资团队带领众多投资者共同成长，找到优秀的投资标的，分享区块链发展的好处。同时，社区通过通证激励机制，让优秀的社区成员展现自我，充分展示自己的才华，从而脱颖而出，收获与其贡献相匹配的回报，使社区形成健康的价值生态。Polies提供了web端、移动端等多模式的一个操作窗口。内部密钥模块只允许内部业务模块接入，以及通过内部接口通信实现业务层、服务层、系统管理和系统监控。同时，所有API接口均通过HTTPS加密通道传输，增强客户端和服务器的安全性。全系统的安全监控和审计，以及实时日志、历史日志处理和异常业务告警工作，确保用户资金和数据的安全。

Polies community is a decentralized investment community that will combine Quora’s industry question-and-answer (Q & A) model with the broker’s bridge link model to form a blockchain and cryptocurrency investment service community. This community connects ordinary investors with professional trading teams, allows the professional investment team in the community to lead many investors to grow together, finds excellent investment targets and shares the benefits of blockchain development. At the same time, through the pass incentive mechanism, the community allows the outstanding community members to reveal themselves, fully display their talents and thus stand out, reaping the rewards that match their contributions so that the community can form a healthy value ecology. Polies provides web-side, mobile-side and other multi-modes of an operational window. An internal key module allows only internal business module access as well as business layer, service layer, system management and system monitoring through internal interface communication. At the same time, all API interfaces are transmitted through HTTPS encryption channel to enhance the security of client and server. Systemwide security monitoring and auditing, as well as a real-time log, history log processing and abnormal business alerts work to ensure the security of user funds and data.

海带：去中心化的ETF要怎么实现，用户怎么参与？

How to realize the decentralized ETF and how do users participate?

Michael：相较于需要大量人力的中间人代持，去中心化的模式更加安全、高效、透明，有助于规范投资流程，改善业界的投融资环境。

用户主要可以参与治理和投资去中心化ETF。

在拥有特定数目以上的治理令牌时，可以参与去中心化的治理与产品发行的投票。

在链下，产品会在社区完成初步设计，回测计算和自治社区评判等几个步骤。然后流程通过后会通过开发团队修改上传到协议层完成链上投票。

发行后投资者将底层资产或者对应的其他资产投入后可获得一种ETF凭证令牌作为资产凭证，链上锁定对应的投入资产。

如果ETF或者其他结构化产品等投资组合盈利赎回时，PT的持有者们可按协议设定好的手续费和表现费收取超额收益中的分红部分。

对于ETF和其他结构化产品的投资者，如果其产品被用于融券等业务中，产生的利润将分配给投资者，部分利润将被折算成治理令牌，鼓励投资者参与生态自治中。

Decentralized ETF model is safer, more efficient and more transparent than the middleman model, which requires significant manpower. It helps to standardize the investment process and improve the investment and financing environment of the industry.

Investors who hold a specified number of token can vote on ecosystem governance and product launches.

Under the chain, the product is initially designed in the community, measured back and judged by the autonomous community (PST holder). The process is then modified by the development team managed by the decentralized ETF ECO Foundation and uploaded to the protocol layer to complete the voting in the chain.

After the issue of investors will be the underlying assets or the corresponding other assets investment can get xxETF as an asset certificate, chain lock the corresponding investment assets.

If a portfolio such as an ETF or other structured product is redeemed, the holders of the token can receive a percentage of the excess return, based on the agreed-upon fees and performance charges.For investors in ETF and other structured products, if their products are used in such businesses as short selling securities, the profits generated will be distributed to investors, and some of the profits will be converted into tokens, encouraging investors to participate in ecological autonomy.

海带：很多DeFi协议的币价出现了大幅的下滑，您认为原因是什么？

The currency prices of many DeFi protocols have fallen sharply. What do you think is the reason?

Michael：Defi版块的币种在上一轮的行情中表现非常疯狂，有现象级的快速上涨，但随后表现出现了上涨乏力，并且大幅度回调，我觉得是市场过热导致的，因为本身币价的支撑需要生态的应用和社区用户相辅相成，不是说单边的无脑上涨就能保持下去，需要共识。我觉得回调是一种正常的状态。回顾比特币十年的风雨，久经考验，中间也出现过几次快速上涨又快速回落的，尤其在早期的时候更是太常见了，所以这样来看目前的defi也是一个青少年甚至是个幼儿，还有很大的发展空间，DEX对CEX的冲击，大家也有目共睹。我认为目前之前较火的项目和交易所，在defi的冲击下都感受到了不少的压力。对于投资者来说，拥抱趋势更为重要。

The currencies in the Defi section had a wild ride in the last round.Phenomenally fast rise, but then the performance was weak. I think that the market is overheated, because the support of the currency price needs to be complemented by ecological applications and community users, and not just a unilateral and brainless rise. I think a pullback is a normal state. The impact of DEX on CEX is evident to all of us. I think that the formerly hot projects and exchanges are feeling a lot of pressure from the defi impact. For investors, it is more important to embrace the trend.

海带：Polies的代币是怎么分配的，会有什么场景？

How are Polies' tokens distributed, and what will happen?

Michael：PoliesToken早期的投资者们占有20%，基金会会有30%，然后50%的代币会给到生态的建设中去，拥有PT的用户，可以参与平台的产品上线的投票治理，也可以参与未来平台上基金和相关产品的分红，Polies本身就是一个去中心化的金融系统，这些和平台的用户都息息相关，希望能和社区用户一起走向defi的新大门。

PoliesToken's early investors will have 20%, the foundation will have 30%, and then 50% of the token will be given to the construction of the ecology. Users with PT can participate in the voting governance of the platform's product launch, as well as participate in the future dividends of the platform's funds and related products.

海带：接下来的规划是什么？波卡和以太坊会选择哪一个？

What is the next plan? Which one will Polkadot and Ethereum choose?

Michael：Polies V2.0或将部署在Polkar网络上，Polies最大的限制就是跨链信任机制的搭建和延迟和数据吞吐量的难题。 在Polkadot 上的网络和应用程序可以像智能手机上的应用程序一样共享信息和功能，而无需依赖具有可疑数据实践的中心化服务提供商。与以前主要作为独立环境运行的网络不同，Polkadot 提供了互操作性和跨链通信。这为创新的新服务打开了大门，并允许用户在链之间传递信息。

在产品的转化方面，Polkadot 独特的设计跟以往的区块链网络相比，为Polies项目提供了更多的创新和灵活的迭代。通过将多个特定场景的链整合到一个可扩展的网络中，Polkadot 使区块链技术能够充分发挥它在现实世界场景中的潜力，产生新的市场，并为未来Polies去中心化的经济体铺平道路。

Polies V2.0 or will be deployed on the Polkar network. The most significant limitation of the application of blockchain is latency and data throughput; for example, it takes more than half an hour for BTC/ETC to confirm the transaction. Networks and applications on Polkadot can share information and functionality like applications on smartphones, without relying on centralized service providers with questionable data practices. Unlike previous networks that operated primarily as stand-alone environments, Polkadot provides interoperability and cross-link communication. This opens the door to innovative new services and allows users to pass information between chains.

In terms of product transformation, Polkadot’s unique design provides the Polies project with more innovative and flexible iterations than previous blockchain networks. By integrating multiple scenario chains into a scalable network, Polkadot enables the blockchain technology to fully exploit its potential in real-world scenarios and generate new markets, paving the way for a future Polies decentralized economy.