The 2020 Blockchain Annual Ceremony and the Second BoChain Finance "Star Power" Awards Ceremony were successfully held

On October 25, 2020, the 2020 Blockchain Annual Ceremony and the Second BoChain Finance "Star Power" Awards Ceremony hosted by BoChain Finance was successfully held at the Shanghai Building Hotel (Broadway Building). A total of more than 500 blockchain industry leaders and practitioners attended this annual event.

At the beginning of the event, Fan Yuanyuan, co-founder of BoChain Finance, delivered a welcome speech on behalf of the organizer and released the "2020 Blockchain Industry Major Events". It is reported that before the release of this major industry event, the 2020 "Star Power" Festival Organizing Committee launched a collection of information on the development of the blockchain industry in 2020 from founders, executives, business leaders and KOLs of nearly 100 companies in the blockchain industry at home and abroad.

BoChain Finance's "2020 Blockchain Industry Major Events" are:

1) On March 12, 2020, the 312 extreme market (epic plunge) caused a liquidity panic in the global capital market. Bitcoin plummeted by more than 50% in 2 trading days, falling to a minimum of $3,800. BoChain Finance Comment: The market always bottoms out in panic, moves forward in hesitation, and ends in madness.

2) On April 20, 2020, blockchain, as a representative of information infrastructure, was included in the scope of new infrastructure by the National Development and Reform Commission of China. BoChain Finance Comment: The ultimate significance of all technological changes lies in "people".

3) On May 11, 2020, Bitcoin ushered in its third halving, but the market was calm and fell instead of rising. BoChain Finance Comment: The bull market was born in despair, grew in doubt, matured in optimism, and died in excitement.

4) In June 2020, Compound and Balancer launched liquidity mining, triggering a DeFi craze and ushering in a new round of bull market. BoChain Finance Comment: All successes are not achieved overnight. Thanks to Leshner, the founder of Compound, and Fernando Martinelli, the founder of Balancer, for their brave start.

5) On August 30, 2020, the daily trading volume of the decentralized trading platform Uniswap exceeded that of Coinbase for the first time. On September 16, Uniswap announced the launch of the governance token UNI, pushing DEX to an unprecedented climax. BoChain Finance Comment: Don’t overestimate the power of change in the short term, and don’t underestimate the big wave of trend in the long term.

6) On October 8, 2020, China's digital RMB (formerly DCEP) was gradually implemented. Shenzhen distributed digital RMB red envelopes to citizens. BoChain Finance Comment: From DCEP to digital RMB, China continues to move forward in how to make good use of emerging technologies.

7) On October 15, 2020, the mainnet of Filecoin, a decentralized storage project that has been planned for three years, was launched, and the token Fil plummeted, causing doubts. Bochain Finance Comment: Most wealth codes are not planned. I am afraid that the pigeon king project Filecoin will disappoint many people.

8) On October 21, 2020, payment giant Paypal announced support for cryptocurrency payments, which will cover 26 million merchants by 2021. Subsequently, Bitcoin hit $13,200, a new high in 2020 and approaching the new high in 2019. BoChain Finance Comment: You can't escape the "really fragrant" law, as long as you start, it's never too late.

9) In November 2020, Ethereum 2.0 gradually surfaced amidst the constant "dumping". BoChain Finance Comment: "Buddhist" V God, the new generation of the cult leader in the cryptocurrency circle, is still brave and resourceful.

Other major events that did not make the list include: 1) Bitmain’s epic battle for control; 2) BitMEX encountered a regulatory storm and its CTO was arrested; 3) Huobi co-founder Du Jun returned to Huobi.

Subsequently, Kelvin Chen of Huobi DeFi Labs gave a keynote speech entitled "DeFi 2.0: From Niche to Wall Street", systematically disclosing Huobi's many research and practices in the field of DeFi. Kelvin Chen said that the three pillars of the DeFi world are stablecoins, AMMs and lending. DeFi will achieve a paradigm shift in traditional finance, and its core is stablecoins. Now DeFi 1.0 has achieved zero to 10 billion US dollars. If we want to go up, we need to go from DeFi 1.0 to 2.0, which can increase the funds from 10 billion to 100 billion. However, the protocol needs to be upgraded, and the risks must be controllable. When the risks are controllable, big funds are willing to come in. In the end, it can be achieved, from the funds of the niche to the funds of the masses, so that DeFi can evolve into the world of Wall Street.

Then, Zhu Yu, co-founder of INBTC, gave a keynote speech entitled "3 Historical Stages of Mining". As an old man in the cryptocurrency circle, Zhu Yu is an undoubted serial entrepreneur. He has participated in the establishment of BTC.com mining pool and CoinIn mining pool, witnessed the ups and downs of the mining circle, and has a deep understanding of crypto mining. Zhu Yu pointed out that the first stage of the mining industry (from the creation of Bitcoin to 2015) was the era when Bitcoin was roughly equal to mining. At that time, the profits of exchanges often came from one-time purchases of coins, hoarding of coins, or one-time selling by miners. The second stage (2016-2018) was an era when mining and exchanges were evenly matched. During this period, the leaders of the mining circle could still stay at the top of the rich list, but 4 out of 10 were already exchange owners. In the third stage (2019-2021), exchanges began to overtake. So far, 18.526 million bitcoins have been mined, accounting for more than 88% of the total 21 million bitcoins. This is a good thing for bitcoin holders and exchanges, but not for the mining industry. Bitcoin has been mined and you are no longer needed. "Energy is not unlimited, but mining machines can be produced unlimitedly. This is the main theme for the future," Zhu Yu concluded.

Next, Ru Chu, Chief Strategy Officer of ETC Asia Pacific, made a keynote speech entitled "The Story of ETC and Everyone in the Community". Ru Chu said that ETC is programmable digital gold. Compared with Ethereum, what the ETC community has been doing is "seeking common ground while reserving differences". In terms of similarities, three hard forks were completed before June 2020 (respectively: Atlantis in September 2019; Agharta in January 2020; Phoenix in June 2020); in terms of differences, ETC Core, the core institution in the entire ETC ecosystem, currently has many development results to help and build ETC. Regarding the "51% attack" that has attracted much attention before, Ru Chu said: "In my opinion, this is not a problem with the chain, but more of an issue of economy and computing power, and more importantly, it comes from the miner group. We are about to build mining facilities."

After the theme sharing session, in the derivatives roundtable session, BoChain Finance invited BitZ Vice President Maggie, KuCoin Marketing Director Jing, BiKi Business Director Willson, LBank Co-founder He Wei and other star players in the trading track to review the past 2020 and where derivatives will go. This round of roundtable was hosted by 499Block partner Josephine.

Maggie, vice president of BitZ, said that the money released by global monetary and fiscal policies is about 20 trillion US dollars, which accounts for 20% of the global GDP. It has boosted the rise of core assets including US stocks and crypto assets. Compared with 2019, the overall growth of derivatives trading in 2020 is still quite obvious. Among them, from the first quarter, the trading volume of perpetual contracts accounted for almost 40% of the total derivatives trading volume, and in the second quarter, the trading volume of perpetual contracts was basically 75%.

Jing, the head of KuCoin's market, said that in the short term, the market sentiment is not particularly good, and Bitcoin is in a very strong wait-and-see attitude, because many things are pending, especially the holders of large funds, who dare not make big moves. 2019 may be a brilliant year for derivatives, but 2020 is a year of strategic adjustment and contraction of derivatives. This does not mean that the importance of derivatives in the future market will decrease, but its potential is very large. KuCoin believes that the entire market may not be as lively in Q4 as in Q3, but there may be a better market in 2021.

Willson, the head of business at BiKi, said that the trend of Bitcoin, which has just been halved, is still continuing the trend of the previous two halvings, so it is not possible to achieve a particularly good trend in the short term, but there is hope in the future. Possibly affected by the rise of DeFi, the position of Bitcoin-dominated contracts has been weakened, which has also balanced the situation in which the derivatives market has long been dominated by a single currency. The trading volume of Ethereum, DeFi and other derivatives project contracts has increased significantly.

LBank co-founder He Wei said that LBank has relatively few layouts in the derivatives track, which is a supplement to the business. Contracts, including the entire derivatives market, are a zero-sum game market, and of course they are necessary for their existence. "We tell users every day that contracts can be made 5-10 times, but users don't listen and just like high leverage." At present, the premise of derivatives is compliance, and after compliance, there will be a very large market.

In the DeFi roundtable session, BoChain Finance invited Chain Hill Capital (Qianfeng Capital) Co-Founder Steven, Conflux Business & Technology Director Shangshu, Cocos-BCX Technology Contributor Reed Hong, BP Accelerator Co-founder Tang Shi, Jubi Labs Partner Liesa and Zenlink China Head Guo Tao and other capital parties, public chains, project parties, investment institutions, and incubators who are concerned about the DeFi field to talk about the ice and fire DeFi market in 2020. This round of roundtable was hosted by ByteLink founder Du Chao.

Chain Hill Capital Co-Founder Steven said that most people saw the popularity of DeFi in the second half of 2020. But in the true sense, DeFi was already quite mature in the second half of 2019, and in the first half of this year, the data has begun to show obvious results. One is the soil of Ethereum, and the other is the gradual maturity of trading users. These two factors determine that DeFi can have a relatively large development. The entire DeFi market, including Uniswap, currently accounts for 5%-10% of the total transaction volume, including centralized exchanges. This is a particularly scary data.

Shang Shu, Business & Technology Director of Conflux, said that the explosion of DeFi in 2020 felt a bit early. The essential logic of DeFi has not been figured out even today, and over-lending still has not found a realistic scenario. Listing on UNI should be cheaper than on centralized trading platforms. The benefit of UNI to the industry may be to reduce the listing fees of the three major exchanges, which is also very impressive.

Reed Hong, a technical contributor of Cocos-BCX, said that the model of liquidity mining has ignited the industry, and the huge wealth effect has made many people want to follow suit, which is the fundamental reason why DeFi is discussed by everyone. Looking back at DeFi now, the Ethereum community is really a large developer community. The code of the entire UNI is amazing. The core exchange logic can be implemented in less than 200 lines of contract code. Every line of code on UNI is not redundant.

Tang Shi, co-founder of BP Accelerator, pointed out that decentralized finance (DeFi) should be the first point that blockchain can be perceived and applied by everyone, and it can derive greater value from the original value of digital currency. In May, Compand came with super high mining income. In the mainstream currency circle, there needs to be a point that can make users more involved. The biggest starting point for this wave of DeFi is still profit.

Liesa, a partner of Jubi Labs, said that the essence of the crypto industry, whether it is centralized trading or decentralized applications, is still centered around trading. A series of innovations around finance, even if they are very simple and crude at the beginning, may even be regarded as "treasonous" by the traditional financial industry. This is normal and is also the value of the crypto industry. Traditional financial thinking is really not suitable in the currency circle. UNI can stand on this track, which means that its community and investors have basic recognition of it.

Guo Tao, head of Zenlink China, said that in 2017, the concept of public chain was discussed. Recently, the smart contracts on Ethereum have been continuously improved, and some products have been launched, which has led to the popularity of DeFi. Centralized trading platforms may have been spot trading at first, and then futures and various derivatives. DEX will follow the same path in terms of business form, so we need to lay all these out from the technical level. After that, traditional Internet, industry and funds will move in. Whether it is technology or the underlying high-quality assets, they will definitely carry the entire building. We will see more and more "Lego blocks" perfecting the entire industry.

Finally, the organizing committee of the 2020 "Star Power" Ceremony reviewed the blockchain industry in 2020 and established multiple awards based on the information collection on the development of the blockchain industry in 2020 completed in conjunction with the founders, executives, business leaders and KOLs of nearly 100 blockchain companies at home and abroad. It focused on companies, projects and pioneers that have a huge driving force in the blockchain industry.

Among them, the 2020 "Star Power" annual blockchain innovation companies are: Huobi, OKEx, FTX, Uniswap, KuCoin, BiKi, and MXC; the 2020 "Star Power" most technically powerful blockchain companies (projects) are: Chainlink, ETC Ethereum Classic, Conflux, Yunxiang Blockchain, Cocos-BCX, OKLink, ChainUP, and HBTC CHAIN; 2020 "Star Power" blockchain annual pioneers: Gao Chao of Huobi DeFi Labs, Zhu Yu, founder of Inbit, Ru Chu, chief strategy officer of ETC Asia Pacific, Alicia, senior partner of KuCoin, Kaozi of Conflux, Wu Fengheng, CEO of MXC Technology, Jiang Xiaoyu, founder of Hengha Interactive, and Chen Zhu, founder of Nvxia Blockchain. The above rankings are in no particular order.

In addition, the 2020 "Star Power" blockchain annual columnists are: Blue Fox Notes, Aunt Zhang and Aunt Yang, Female Hero Blockchain, Blockchain Cousin, Block Diggers, Where is the Coin Circle, Scale Blockchain, Huobi Research Club, and the above rankings are in no particular order. In addition, TitanSwap, N7 Labs, and Farmland were awarded the most noteworthy DEX platform, the most noteworthy emerging institution, and the most noteworthy DeFi aggregation platform in 2020 respectively.

Wang Hui, founder of BoChain Finance, said: "This is another annual event held by BoChain Finance after the 2019 Blockchain Fashion Night Shanghai Cruise Dinner and BoChain Finance "Star Power" Annual Blockchain Awards Ceremony were successfully held on the luxury cruise ship on the Shanghai Bund on October 25, 2019. The 2020 "Star Power" ceremony mainly reviewed and reviewed the hot topics of the year such as crypto assets (Bitcoin halving), derivatives (contracts, futures, options), DeFi (DEX, including liquidity mining)."

"As a long-established blockchain financial media that has gone through both bull and bear markets, BoChain Finance holds the annual 'Star Power' ceremony to review and summarize the development of the blockchain industry over the past year, and to witness and promote the development of the industry from a media perspective," he said.