Decentralized finance (DeFi), from which LINK, YFI, YFII, SUSHI and other fast-growing tokens have emerged, has been all the rage among cryptocurrency investors this year. Although the market has been adjusting recently, the popularity of DeFi has temporarily slowed. However, DeFi remains popular among the media and various communities, and its total value locked (TVL) will reach its previous high after a short adjustment.
New DeFi projects are being launched all the time. Among them, the most eye-catching is POFID DAO, a trusted decentralized financial asset management platform with excellent privacy protection. Unlike projects such as MakerDAO, POFID DAO uses staking (lockup mining) in its governance. The total amount of PFID is 10 million, with 51% being used for pledge lockup mining, and the remaining 34% being allocated by the governance committee and technical team.
Privacy, anonymity, and pledge lockup mining have all become the focuses of the community. Today, Eric, the head of China marketing at POFID DAO, is a guest in the Baipiao Community AMA, and will be answering all your questions about POFID DAO, its privacy protection, and the market value support of PFID.
Since POFID DAO was established on the basis of SERO, Eric pointed out that POFID DAO was able to inherit the advantages of SERO in privacy protection, and make a technological breakthrough in providing a full range of privacy protection measures for account assets, transactions, and contract sensitive data. As a result, POFID DAO has had better success in privacy protection compared with the similar platform Maker DAO.
PFID is the governance token of POFID DAO. It is not only a proof of income, but also a necessary condition for governance authority, and it is also the default global asset of the platform. Eric said that the goal of issuing coins on the POFID platform is to give more privileges and benefits to early adopters. The exchange is not about selling sell coins, but giving PFID to users for early bird benefits. PFID holders can also do staking through Novac, and enjoy PFID mining revenue with an annual income of 8%. There is no private placement of POFID tokens, and they are used exclusively for the community. Everyone in the community is equal, and tokens can only be bought from the exchange.
PFID is currently in the first phase of circulation, and its total amount will not exceed 5%. Community users can now participate in initial phase pledge mining and POS mining as long as they possess PFID.
It is expected that POFID DAO will complete its first product iteration within half a year, with Novac expected to support the entire product line, including wallets, swaps, oracle machines, and other complete ecosystems. POFID DAO will then carry out the second phase of circulation, with asset cross-chain interoperability at its core. Eric also shared the exciting news that the project team will launch more liquid mining methods in the second stage.
Regarding how the market value of POFID DAO can be supported, Eric explained that POFID DAO itself is a B-end enterprise-level application which can be used in supply-chain finance for cross-border trade, trusted payment solutions for e-commerce on the chain, and asset management on the chain.
Taking cross-border trade as an example, Eric said that, since importers have to pay cash to buy goods overseas, they are prone to experience time delays in logistics, customs clearance, downstream customers, and purchasing foreign exchange from the authorities. If all trade information were made transparent across borders, then financial institutions that supported overseas digital currency transactions could use stable coin to finance traders on the blockchain and supply cash needed for advance purchases.
Transnational trade volume can grow to hundreds of billions of dollars, the market value of which the entire digital currency market cannot hope to reach. This shows that the future market value of POFID DAO has considerable room for growth.
PFID was launched on September 10 with an opening price of 5USDT, and the current increase is only over 390%. Last week, POFID was listed on the three centralized exchanges of HBTC, BOBT, and BKEX. Some tokens were also mapped on ERC-20, and these tokens were listed on the decentralized exchange Uniswap. At present, the PFID market is still small, and it remains unaffected by negative market trends. With POFID DAO’s anonymity and privacy features and pledge lockup mechanism, PFID’s meteoric rise is looking more and more secure.