DeFi Singularity Night, the DeFi event of the year that everyone is looking forward to. It officially kicked off last Monday (January 22, 2024) at Tempo X, a startup accelerator behind BlockTempo.
The event was organized by Dyson Finance, the fastest growing decentralized exchange on Polygon zkEVM and Linea, Prisma Finance, a rising star in the LSDfi sector with a TVL of $4.7 billion, and BlockTempo.
What’s interesting about DeFi Singularity Night?
The venue brought together leaders from various DeFi projects, protocol developers, and KOLs to jointly explore key issues in decentralized finance, such as scalability, security, and strategies for user adoption. The event promises to be an evening filled with intellectual discussion and enjoyment.
Ping Chen, lead sponsor of Dyson Finance, said:
“We have been organizing offline activities for a while now. And two years ago until now I was happy to see so many friends coming together to support me. I represent Dyson to take this rare opportunity to interact with everyone. As the market warms up, the focus of DeFi’s attention is constantly evolving. Today, I also invited some good friends to share trends. New trends in DeFi and current trending stories.”
“The reason we founded TempoX was because we saw that the Taiwan Web3 market lacked an efficient system for finding international funding. Gathering of talented people and develop an operational strategy for the Web3 ecosystem, we hope to bring together the key strengths that BlockTempo has accumulated over the years. TempoX is not only a physical space for startups to connect. but also provide technical, financial and market support to help Taiwanese talents advance to the international stage.”
Mike, organizer of the TempoX accelerator, says:
Key Highlights from discussions at the event
During the panel session, JZ founded JZ Invest, an active community member who often shared the latest market research and alpha opportunities. Acting as a moderator They engaged in an in-depth survey on the current state and trends of DeFi with Ping Chen, representative of Dyson Finance, Anton, Solidity developer from Lyra Finance, and Chen Chang-wu, head of imToken’s science team.
From left to right: JZ、Chen Chang-wu、Anton、Ping Chen｜Location: Tempo[/caption]
Narrative Mainstream in the current DeFi wave is different from traditional borrowing or swapping that still revolves around staking and restaking. What is the current situation?
Ping Chen: Although Restaking releases more liquidity to users, the more people staking, it will have a negative effect on supply. (Assuming you believe in deflation)… It’s like having a house or car already under mortgage. Then we took out the motor home and took out a second mortgage. You have to be more careful about risks.
Chen Chang-wu: Staking is a financial feature commonly used by users in decentralized wallets. However, at present these DeFi functions are too complicated. and general users may not fully understand these functions. Whether they become more user-friendly in terms of UI/UX in the future will depend on the wallet offering more user-friendly financial products.
How do you view the popularity of the Bitcoin ecosystem?
Anton: Actually, when you see a buzz about a new project, you might miss it. In the crypto world, new trends emerge regularly. And focusing on your core business is often enough to avoid missing out on wealth opportunities.
Bing Chen: I think it’s quite easy to get distracted. interest or earn money quickly What is more important? As a developer I recommend spending 80% of your time on your core business and allocating 20% to exploring altcoins and meme coins.
Chen Chang-wu presents an interesting phenomenon: We know that Bitcoin’s block rewards will be fully mined by 2140 and beyond. We expect the network to survive on transaction fees. At the peak of the inscription’s popularity Transaction fees are usually higher than mining rewards. This makes it a possible case study for future research.
How do you see the next adoption trend for Bitcoin Layer 2 and blockchain?
Anton: Look at the Lightning Network as an example. Its development is quite slow. Bitcoin developers approach things like graduate students writing their dissertations. and researched thoroughly before publishing, whereas Ethereum is more like “build first, talk later.” However, I think Bitcoin has done a pretty good job getting to where it is today.
Anton also said that it is important to shift from Web2 to Web3 if we want true widespread adoption. Transaction fees remain a challenge He gives an example:
Just like in 2018, I always felt that the NFT ticket market was important. However, for events like concerts, costs associated with serial numbers, issuers, insurance companies, etc. made the cost of creating an NFT exceed $50. This has become Too much burden for issuers We need to wait until these costs drop before we see more widespread use.
Organizer of DeFi Singularity Night
Dyson Finance
Dyson Finance is an innovative decentralized exchange (DEX) that combines innovative dynamic AMM with an online dual asset management strategy. By providing a method for seamless liquidity and strong value capture capabilities. It provides retail investors with greater liquidity opportunities than other DEXs, with greater predictability and higher returns.
Prisma Finance
Since its launch in November 2023, Prisma has grown to become the third largest CDP on the Ethereum protocol behind only Liquidity, with a TVL exceeding $4.8 billion and supporting 155 million mkUSD (Prisma’s native stablecoin).
About BlockTempo
BlockTempo is the most comprehensive and influential media platform in the Chinese-speaking blockchain community. In December 2023, the company established the innovative brand TempoX, which combined “Web3 New Startup Accelerator × Co-working Space” BlockTempo held exciting events, including Plurality Salon with offline participation by Vitalik and Ton Meetup Taipei. which brings together the power of Taiwan’s blockchain community.