The EtherFlyer digital asset exchange Tomi Xue: EtherFlyer 2.0 will be the key to open the door of distributed economy

October 31 21:26 2019

Blockchain technology has a wide range of applications, digital asset exchange is the core of blockchain industry chain, once considered as the industry outlet. With the advancement of technology and innovative development of digital asset exchanges, and actively exploring new modes of industry development, people have a deeper understanding and judgment on the future development of the exchange. Around this topic, the CEO Tomi Xue of EtherFlyer Digital Asset Exchange accepted an exclusive media interview to share his unique insights into the future development trend of the exchange.

Q1: Warmly welcome Tomi Xue to be the guest of Xin Media. First of all, please tell us about your work experience and the general operation of EtherFlyer exchange.

Tomi Xue:Hello everyone, I am Tomi Xue, the founder of EtherFlyer Digital Asset Exchange. I entered the blockchain field early, and I have been designing financial products for traditional Japanese banks, so I have paid great attention to asset security. Since I started learning Bitcoin in 2013, I have been active in the currency circle since I started mining and speculating. I also know a lot of big names from my peers and have had in-depth communication or cooperation. Engaged in the operation of the exchange is because of personal judgment, very optimistic about the development of the exchange, it is undoubtedly an industry enthusiasm. To this end, I experienced my own venture to open an exchange, and then I was fully responsible for the exchange, and all the links were familiar with it, and I also had a deeper understanding of the exchange market. Although the centralized exchanges of several major heads such as Binance, Huobi and OKEX seem to be developing well, I don’t think this is the final form of the exchange. The explosive power of the nuclear warfare of the exchange must be accompanied by the spirit of decentralization. Therefore, decentralized exchanges will be the mainstream of the future, and will be the key to opening the door to distributed economy and finance.

Because of this, I founded the EtherFlyer Digital Asset Exchange. Established in 2017. It has obtained strategic investment from Bitcoin China, Yunjiu Capital and Ledong Capital, and has an Estonian license. Since its operation, the number of users has reached 1 million. Compared with traditional exchanges, there are obvious advantages in EtherFlyer, including technical safety. So far, there has not been a safety accident. The assets are all owned by the users themselves, the safety is very high, and the decentralized matching transaction. The transaction process is fair and equitable, and the KYC certification of the user is also eliminated. The use is very convenient and the user experience is good. The activity of EtherFlyer community is also very high. According to statistics, the total users and daily activities of the Telegram community of EtherFlyer in 2018 have caught up with the top exchange. In August of this year, the EtherFlyer Exchange was fully upgraded the version 2.0, and iterated and innovated in both products and models. We have joined the POS mining pool on the basis of decentralization. Users can pledge high-quality digital assets to obtain interest income, and list top ten major currency transactions have improved product functions, and launched a new mechanism for full-node dividends. All trading fee is returned to the user through the alliance rebate. In essence, we are now the leader of a hundred exchanges, with decentralized security and centralized services. With EtherFlyer 2.0 we will become a comprehensive digital asset exchange.

Q2: What are the new mechanisms and ways that you just mentioned, and can you elaborate on them?

Tomi Xue:The new mechanism is based on EtherFlyer Ecology. EtherFlyer Exchange is the first exchange in the world to launch a full-node dividend, and will return 80% of the trading fee to the community. The native token called Tcash with a total circulation of 88 million. Ensure that ecological rules will never change, and that community win-win sharing will never be bad. The exchange platform certification is developed under the steady value-added economic model, relying on the dual-core drive of the EtherFlyer Planet and the EtherFlyer Alliance, plus the ecological closed loop of the EtherFlyer Labs. Because the total market value of the native token Tcash is small and sustainable development is possible, there is huge room for appreciation in the future.

Specifically, our ecology consists of four major sectors: the EtherFlyer Planet, the EtherFlyer Alliance, the EtherFlyer Exchange, and the EtherFlyer Labs. Infant investment by the US top investment bank Blockchain Fund, Singapore Bole Foundation, Got Capital and other capital. The strategic positioning is based on the super digital currency asset management platform in the EtherFlyer ecology. With the tenet of “Building 100% of the incomes and giving back to users”, we provide a wealth of professional investment products and management services. In this mode, users can invest in their own digital assets. In addition to enjoying the static return of the platform’s daily return, it can also obtain a lot of dynamic revenue through hierarchical promotion and planet mine owners. I will not count the details of the benefits, but in one word, the benefits are not good. Then someone will say, with so many benefits, isn’t that a bubble? There is indeed a bubble, so the planet will buyback Tcash with 80% of the total investment, 11% for the mine owner, 3% for the ecological dividend, and 6% for the team building. This calculation is equivalent to returning nearly 95% of the investment share to users, reducing Tcash market liquidity, eliminating bubbles, helping to maintain market value, increasing new users, increasing transaction volume, and achieving self-driven sustainable growth.

The model of the EtherFlyer Alliance is mainly to develop borderless organizations through the infinite generation of fission rebates. Everyone has become a shareholder, and the benefits of the platform are fed back to the community members to build an EtherFlyer transaction ecology. This is linked to the EtherFlyer exchange, the first full-node dividend development model. Through multiple rewards, the user is encouraged to lock Tcash in the EtherFlyer, and according to the weight of the lock, the corresponding level of the ecological interest is obtained, which is used to invest in the high-quality Labs project of the online exchange. This indirectly promotes the development of the EtherFlyer Labs incubator and drives more quality projects. These high-quality projects are based on the actual application scenarios based on the actual application scenarios, and have already selected a certain foundation to make the investment truly return to value. Since then, the entire ecosystem has formed a complete closed loop.

So this is our way. In essence, it is an economic model of EtherFlyer ecology. A successful ecology is also important in addition to the technical foundation.

Q3: Do you think the way or economic model of the EtherFlyer exchange is different from other exchange models such as resonance and IEO?

Tomi Xue:Your question refers to the core and is the topic that I want to focus on. Nowadays, there are many new modes of exchanges on the market. In fact, there is insufficient increment and competition for stocks. This is also an inevitable problem in the development of centralized exchanges. Resonance or IEO is a certain innovation, but it is still difficult to get rid of the suspicion of centralization. In the future, the real power of the exchange must be decentralized and adapt to the distributed economic ecology. It can also be seen from the actions of the currency chain, the fire coin and other development of the public chain as a decentralized exchange. It is a trend and an advantage. Because we are decentralized exchanges, this economic model has only the success we can play with such a method.

Why do you say this? Let me first talk about two inevitable trends. One is the digitization of assets and the other is the distributed economy. Future assets, currencies, equity, and property rights can all be leveraged by blockchain technology. Digitizing assets, with the continuous development of blockchain technology and consensus mechanisms, the future form will evolve into a distributed economy. That is to say, the mature blockchain technology has been widely spread, and the decentralization of life will inevitably bring about a distributed economic ecology.

Wait until the day when asset digitization comes and the distributed economy prospers, that is, when decentralized exchanges break out. Because digital assets can only realize their value through transaction and circulation, they need a platform for trading, circulation and realization of digital assets. It is possible to exchange transactions between digital assets and exchange them with legal currency. This platform is a digital asset exchange. The decentralized digital asset exchange naturally fits the characteristics of distributed economy, and its cost is more advantageous than centralized, so it has great development prospects.

Q4: In your opinion, what should the exchange pay attention to in order to ensure stable operation in terms of operational work?

Tomi Xue:Whether it is a decentralized exchange or a centralized exchange, the security of user assets is a top priority for exchanges. Therefore, first of all, there must be sufficient protection in terms of technical security. From this point of view, that is why I say that decentralized exchanges are more advantageous than centralized exchanges because of their high security. Even if it is attacked by hackers, the degree of loss is not that great, unlike all centralized transactions, which may be fatally attacked. Many people always say that there is no liquidity and transaction depth on the decentralized exchange. I just want to ask the other question, if your assets are gone and deceived by others. What do you want for that liquidity and transaction depth?

Secondly, the exchange must be well-serviced to enhance the experience, including the docking with the technical team. Improve the trading experience, product features, customer service, etc. The third is management. The specific content of pulling, retaining, and promoting activities needs to be done with detail. Operation is a job that requires great control.

Q5: Is there any new action in the EtherFlyer exchange? What is the future development plan?

Tomi Xue:The recent action is mainly based on the upgrade of the EtherFlyer 2.0 upgrade. All the mainstream currencies in the market can come to EtherFlyer trading, and there is also a POS mining pool that allows everyone to manage money, Difei’s layout. Future development plans are also carried out in accordance with the established route. For example, in order to continuously meet the diversified investment needs of global users, we constantly update and optimize the products and services of the company. On August 22, the platform officially launched the OTC (over-the-counter)trading function, which opened up the fiat channel and further enhanced the user’s trading experience.

In the follow-up, the EtherFlyer Exchange will also develop more abundant products, including IEO incubators, Tcash presale, and more asset management products. Investment way is more enjoyable and investment income is more impressive. Tcash as a native token will run through the entire ecological layout, so Tcash holders will enjoy dividends and more product business in the future.

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Country: Estonia
Website: www.etherflyer.com