On the occasion of the Dragon Boat Festival holiday on June 27, Karl, Chairman of the Hotbit Governance Committee, was invited to share in the Cryptogeek AMA. Karl exclusively shared how as an investor, you can follow Hotbit and seize the opportunity of sector rotation? At the same time, Karl also brought insights on investment opportunities related to Polkadot, Filecoin and ETH 2.0, and directly discussed how to view market hot spots and seize opportunities?
The following is the content of the AMA Q&A session:
Cryptogeek: As an exchange that specializes in overseas markets, Hotbit supports hundreds of crypto asset transactions and has the richest technology in the industry. Regarding asset types, please let Karl introduce the development of Hotbit’s overseas markets.
Karl: Hello everyone, I am Karl, chairman of the Hotbit Governance Committee. Thank you Cryptozoology for this invitation. There must be many of our users in the group. Here I plan to introduce our trading platform in a less "official" way.
In terms of its own philosophy, Hotbit has been pursuing "decentralization" along the concept of blockchain. Although the current organizational structure is still a company, the many features presented by the product will make everyone feel Much like a “decentralized trading platform”.
For example, the online digital assets are extremely rich. There are currently 529 assets online, which is already the second largest digital asset trading platform in the world. For example, user registration does not require KYC, and you can register with just one email address. The maximum Protect everyone’s privacy to the greatest extent; for example, there is no upper limit on the amount of assets you can withdraw, just like a multi-asset wallet; for another example, our App only requires users to have 4 mobile phone permissions, and it still protects customer privacy and does not do evil, etc.
The above distinctive features, I think, are the reasons why Hotbit has steadily gained widespread recognition from 640,000 users from 160 countries since its official launch in March 2018.
As we continue to examine the market from a global perspective, Hotbit closely follows popular assets and hot sectors. Whether it is the popular public chain sectors Holochain, BU, CKB, KDA; the anonymous asset sector Beam, Grin, MWC, UFO; the storage sector Fil (futures and cloud computing power), BHD, MASS; the DEFI sector COMP, BAL, TRB, Nest; DOT (futures), PCX, KSM, etc. in the Polkadot ecological sector; AXE, IMG, HNS, PGO, and Hotbit in the mining currency sector are basically the first or the first batch in the world to go online, which directly gives us users The earliest opportunity to make investment choices.
Therefore, "Follow Hotbit and grasp the sector rotation" should be a high-quality shortcut for users who do not have time to study the market but want to seize market hot spots.
Encryption Court: Recently, the rotation within the DeFi sector and between the storage sector has been very dazzling. Hotbit's asset trading area is also divided into more than ten sections based on asset types, such as DeFi, Polkadot, storage, and mining coins. Karl, please introduce what is the main purpose?
Karl: Hotbit follows market demand and from the perspective of user convenience, it is the first company on the market to set up asset classification with the concept of "sector" for customers. Available at: https://www.hotbit.pro/markets.
Sector rotation is actually the unique nature of traditional financial markets and crypto asset markets. Driven by leading enterprises or assets, the market began to pay attention to its peers or upstream and downstream, and the attention brought continuous capital input, and then a general rise in this type of assets occurred.
Taking the DEFI sector as an example, everyone has actually had high expectations for the decentralized exchange DEX since 2017, but its performance has been generally sluggish. It was not until last year that everyone suddenly discovered that the lending agreement MakerDAO was quietly making a fortune. , the market began to be unable to hold back its imagination again, asset issuance (Synthetix), loan protocols (Compound, dForce), oracles (Augur, Nest), liquidity market making (Bancor, Balancer) became active one after another, and even a bunch of DEX Back in sight again.
Taking the storage sector as an example again, Filecoin, as perhaps the first absolute leading asset with real scale and practical value in the blockchain industry, has attracted the world’s appetite for three years since 2017, and has been on the market in 2018. Mining machines began to be hyped, and as a result, many mining machines without coins to mine were invested in projects such as BHD, Lamb, and MASS. This year, as the mainnet line is approaching, the old coins in the entire storage sector have also risen one after another. What is more interesting is that due to The official team often tries to improve the technology, which makes it almost impossible for a batch of early mining machines to mine coins due to hardware reasons. These manufacturers who originally planned to do good business are forced to participate in the operation of other storage assets to save themselves. In addition, , and some manufacturers may purchase coins in the secondary market to pay for the mining machines sold earlier. All these market behaviors of investment, speculation, and replenishment have made the current storage asset market particularly lively.
Polkadot has been a little less popular recently, but mainnet staking has begun, and open transfers are just around the corner. This aircraft carrier with a group of aircraft is also an unprecedented formation. The technology of this sector The strength is generally relatively high. If the aircraft carrier performs well, the performance of assets in many ecosystems will definitely not be bad.
Encryption Pavilion: Please ask Karl to help us answer, "What are your insights on investment opportunities related to Polkadot, Filecoin and ETH? 2.0?"
Karl: Okay, I can’t talk about opinions. Let me share my views:
First, ETH2.0: We believe that for the vast majority of users, there is only one thing they need to care about. One thing, ETH can be mined via POS.
https://www.hotbit.pro/invest This is the financial management area page of Hotbit. It may be the most comprehensive digital asset financial management area in the world. It is recommended that everyone use it.
At present, we have cooperated with the industry’s outstanding quantitative team and obtained stable arbitrage returns on ETH. After ETH2.0 launches POS, we will open ETH POS products in the financial management area as soon as possible. The chain is open and transparent. At present, ETH2.0 has revealed that users may need to hold 32 ETH in order to carry out POS mining. This is not required to participate in POS financing on hotbit. We will help customers "combine orders" to do it. Everyone will be free to choose quantitative products or POS products.
So for ETH investment opportunities, in fact, as a platform, we are not very good at making specific asset recommendations to avoid misleading, but in my personal opinion, the double lock-up effect of POS and DEFI is definitely good for ETH. .
Second, Polkadot: Hotbit launched DOT futures in early June 2019. The source of the futures was a fund with which we cooperated very closely. Later, we purchased a batch directly from Web3. I didn’t remember it. If I'm wrong, it should be $300,000.
Since DOT futures are actually fully controlled by the trading platform in the early stage, each exchange in the market has two approaches to DOT futures. The first approach is to directly open the market at a super high price, and customers will take the bait. Anyway, There are no customers selling, which is equivalent to selling the goods at a very high price; the second is Hotbit, which opens at a low profit and benefits customers. If customers do not buy the trading platform, they will hold it as a strategic investment for a long time, so in Hotbit , retail investors basically bought the goods at the most reasonable price. Currently, there are nearly 1,000 Polkadot holders on the hotbit platform. The matching transaction price of these customers should be said to be the more accurate DOT price in the market.
Therefore, for the same DOT futures, each trading platform has different practices. Of course, it is understandable that the money-making models are different. From an investor's point of view, if you want to buy, I still recommend you to buy it on a reasonably priced trading platform. After all, it is exactly the same thing.
In addition, after Polkadot can be transferred and our futures are fully redeemed, we will also open Polkadot staking as soon as possible to facilitate users' POS interest earning. At present, Polkadot’s test network Kusama has opened staking last year and everything is running well. The on-chain address is: https://polkascan.io/pre/kusama-cc3/account/D6AxZjKaJDf1HWGNjMnZRnpNYVEHYjGYq5RKvdTKWdhLL3n
Third, Filecoin: Like Polkadot, we have launched two futures, Fil6m (6 months) and Fil12m (12 months). Filecoin futures is a very interesting thing. Take 6-month futures as an example. After the mainnet goes online, it will be unlocked linearly with each blcok until it is unlocked after 6 months.
This is the same as DOT. Different trading platforms adopt different sales models. The Fil marked by other trading platforms is actually our Fil6m. We mark this more rigorously. Because this mainnet is online, futures cannot be converted into spot immediately. We will only start trading the Fil asset at that time. So compare the price of our Fil6m with the Fil price of other trading platforms. They are exactly the same thing. You should buy the one with a more reasonable price.
In addition, Hotbit is pleased to cooperate with the Interstellar Alliance to distribute Filecoin cloud computing power. From our current overall comparison, it is basically the most cost-effective product at the moment.
Cloud computing power actually requires users to do some homework. Filecoin’s computing power is calculated based on the T of the hard disk, which is actually misleading, but there is no better method for the time being. Filecoin mining is actually a two-step process of data encapsulation and data verification. These two steps test different technical requirements respectively, so the mining machine manufacturers also use the hard disk capacity T to display, but in fact this 1T encapsulation and verification Efficiency is the key, and algorithm and system optimization capabilities are very important. According to our current inspection, Interstellar Alliance ranks at the top, so it was selected as the first cloud computing partner.
Of course, if you are sure to invest in Filecoin cloud computing power, Hotbit is definitely a good and cost-effective choice. However, I do not recommend that you just buy it directly. You should first fully understand Filecoin mining. Decisions are made based on the judgment of Filecoin’s fundamentals and market conditions.
Cryptogeek: Ask Karl, how to guarantee the expiration performance of Hotbit’s Fil asset forward contract and mining cloud computing power contract? Nest is an asset that I am really excited about. Hotbit was the first to list it, and then it triggered a melee on exchanges.
Karl: Nest is indeed a very unique project. Hotbit was the first trading platform to discover and launch Nest. As mentioned above, we have launched two futures, Fil6m and Fil12m. Since Hotbit has strong overseas resources, these futures are based on the Full Saft with strong legal protection that we actually purchased in the overseas OTC market (strong). Legal protection means that the seller comes from developed countries in Europe and America, or is a formal licensed institution)
Let me give you an example of one of our File redemption sources:
The sellers of these Full?Saft sources are all We have done sufficient due diligence, and the contract terms also provide strong guarantees for payment on time. The legal liability for breach of contract is clear. It can be said that it is almost equivalent to signing a contract directly with the project party.
Our Fil6m futures redemption method is as follows for your reference: First, it is carried out according to the total daily redemption amount of 1/183. The specific process is to stop Fil6m trading and cancel all sell orders at a fixed time every day. Traverse all user Fil6m positions, and then redeem each user in proportion, deduct Fil6m assets, and issue an equal amount of Fil assets. Fil assets can be deposited and withdrawn freely. Fil12m is similar to Fil6m, except that it is paid in 365 days.
The payment of cloud computing power here is legally guaranteed based on the terms of the contract between Hotbit and the Star Alliance, but the core should still be based on the strength and credibility of the Star Alliance itself. After all, you are signing with a leather company. A perfect contract can't protect you anything.
The Interstellar Alliance has already completed sales of tens of millions of dollars, and their node t011101 currently ranks fourth on the test network, https://filscout.io/en/pc/miner/miner, just this The link is Filscout, one of the best browsers for Filecoin, which was also developed by the Interstellar Alliance. The founder has been friends with us for many years. He is reliable both as a company and as a person. He is a "brother who settles accounts clearly". We think the cooperation model is still very healthy.
Cryptogeek: It is reported that Hotbit currently does not require KYC, and it is very fast to register for transactions, deposits and withdrawals. Could Karl please introduce Hotbit’s development plan for the Chinese user market?
Karl: Thanks for pointing out our features again. As a trading platform recognized as relatively "Buddhist", Hotbit intends to strengthen its activities in the domestic market this year. This joint event with the Crypto Pavilion is a very successful online event.
To put it simply, Hotbit will make full use of its global resource advantages and continue to promote various global money-making opportunities to domestic users. After all, we know that the trading platform that helps users make money is Good trading platform.
Finally, Hotbit platform coins are currently repurchased with daily handling fees. The new invitation rebate module will also strengthen the rights and interests of currency holders, so stay tuned.
The content is for reference only? It is not intended as investment advice? You bear at your own risk