We officially entered the topic and started today’s AMA.Let’s invite the guests to introduce themselves first.
Hello everyone! It’s an honor to have this opportunity to talk to you here, I’m Dominic, CEO of ECOChain, and co-founder of ECOC, EFG, GPT projects. At the same time, we hope that our ecology can have a long-term cooperation and development with you.
主持人：听了嘉宾的自我介绍，能和这么优秀的人对话真的非常荣幸。那我继续提问，能向我们介绍下 ECOChain 吗？
After listening to the guest’s self-introduction, it is a great honor to talk to such a good person.Then I’ll continue to ask, can I introduce our ECOChain?
嘉宾：好的。ECOChain是一个基于 POS 共识算法的公有链。我们在2017年做技术定型到2019年10月主网上线，底层部分开发历时2年。
Ok. ECOChain is a public blockchain based on POS consensus algorithms. We started R&D since 2017, go live on Mainnet in late 2019, and the overall underlying part took 2 years to develop.
同时我们也为了区块扩容TPS交易速度做了较好的提高，为了更好的提高区块链应用，ECOChain 底层系统中融入了 UTXO系统。便于使用者交易的同时，ECOChain更注重系统安全性与扩展性，再采用了POS 算法上运行权益证明共识机制，并使用虚拟机（VM）作为支持并执行智能合约跨链，完成了ETH完整的无缝对接。
At the same time, we have also done a better job of expanding the trading speed of TPS for block expansion, and in order to better improve blockchain applications,the UNDERlying system of ECOChain incorporates UTXO systems. While facilitating user transactions, ECOChain pays more attention to system security and scalability, then uses the POS algorithm to run the benefit proof consensus mechanism, and uses virtual machines (VMs) as support and execution of smart contract cross-chaining, complete seamless docking of ETH.
此外，我们的高交易速度（560 TPS）和短块创建（32 秒）可以为所有交易提供更快的确认。
In addition, our high transaction speed (560 TPS) and short block creation (32 seconds) provide faster confirmation of all trades.
在上个月，我们同时完成了神域系统的研发并对外开源，可确保链上以及链下跨链等信息的准确及时传递，本次 EFG 的 definitely 产品我们已经成功的融入了神谕系统的使用。
Last month, we also completed the research and development of the Oracle system and open source to the public, to ensure that the cross-chain and other information accuracy and timely transmission, this EFG’s definitely products we have successfully integrated into the use of the oracle system.
如果想了解更多请进入官网：https://ecoc.io/或者关注公众号（ECOChain The company）
For more information, go to the website: https://ecoc.io/ or follow (ECOChain The company)
You can see that ECOChain is a separate public chain, and 19 years after the main network has been online can be said to be very mature. Here also hope that ECOChain ecology can do more and more robust, DApp more and more.
So move on to the next question, what does ECOChain want to address?
嘉宾：好的！ECOChain是以POS作为系统共识机制，系统内部支持VM虚拟机，ECOChain 系统内支持部署只能合约。那么以上述两点作为基础，首先POS权益证明无需消耗大量的资源去做运算，POS 降低了验证者的成本同时提升了系统的运行效率，使得ECOChain链上的交易效率以及交易成本优于以太坊（目前TPS在560，短块创建仅需32秒），在智能合约的加持下ECOChain上完全具备可以构建大量DeFi协议条件。
Ok! ECOChain is a system consensus mechanism based on POS, which supports VM virtual machines internally and can only be contracted for deployment within ECOChain systems. So on the basis of these two points, first, POS benefits prove that there is no need to consume a lot of resources to do computing, POS reduces the cost of the validator while improving the operational efficiency of the system, making the ECOChain chain trading efficiency and transaction costs better than Ethereum (currently TPS at 560, short block creation only 32 seconds), under the smart contract holding ECOChain fully equipped to build a large number of DeFi protocol conditions.
On the other hand, many public chain systems, it is difficult to deploy DeFi because of the lack of asset richness, weak cross-chain technology, making the chain become a car-free “highway”. So the current deployment of DeFi still requires a linkage with systems such as Ethereum, and the insanity of the financial model has resulted in a short life cycle for some of the definitely products.
而对于 ECOChain 而言，其可以将其他链上的资产以原子交换的形式，“跨链”至自身系统来实现系统资产丰富度，跨链过来的ECOC标准的“包装代币”可以无问题地加入 ECOChain的DApp，配合神谕系统，使得ECOChain在金融领域的应用有着巨大的潜力。本次ECOC生态发行的EFG借贷definitely产品就是一个跨链型借贷产品。我们将在2021年初完成ETH、BTC等可执行的跨链借贷。
For ECOChain, it can be other chain assets in the form of atomic swap, “cross-chain” to their own systems to achieve system asset richness, cross-chain ECOC standard “packaging tokens” can be added to ECOChain’s Dapp without problems, with the oracle system, so that ECOChain applications in the financial field has great potential. The EFG Lending Definitely product, launched by ECOC ecosystem, is a cross-chain lending product. We will complete executable cross-chain lending such as ETH,BTC, etc. by early 2021.
主持人：您上面介绍到 ECOC 生态已经发布了EFG借贷Definitely跨链型借贷产品，那请问ECOChain生态现在有哪些产品呢？
As you mentioned above, ECOC Eco has released EFG Lending Definitely Cross-Chain Lending Products, so what products does ECOChain Eco have now?
嘉宾：在这里我们首先要阐明一个观点，ECOChain是一个刚刚完成的公有链系统，他不具备 ETH 的时代，也不具备更好的背景。我们技术秉承了不断探索和追求更好的领域发展基础的研发精神，首先ECOChain官方技术人员不会以技术应用作为Token 发行的主要行为目标。
Here we begin by clarifying the point that ECOChain is a new public chain system that didn’t have the luxury to go through the ETH era. Our technology is based on the research and development spirit of constantly exploring and pursuing better areas, starting with the fact that ECOChain’s official developers do not target technology applications as the primary behavior of Token’s release.
Until now, DApp on ECOChain is known to be developing AI systems, legal document traceability systems, real estate file storage systems, non-homogenized Token gaming systems, and DeFi financial systems.
In the future, more technicians or technology enthusiasts will come together to perfect ECOChain ecosystem!
Which other institutions have invested in ECOChain Ecology?
ECOC received capital injections from seven capital parties this year, such as Genesis Capital, Bi Shi Jie, Thai funds, Block Capital, and more.
主持人：咱们继续下一个问题。据了解，ECOChain 生态具有三种 Token，且都上了 MXC。那能跟大家介绍下 ECOC、EFG和 GPT 三者之间的关系？
Let’s move on to our next question. EcoChain Ecology is known to have three Tokens,all of which are on the MXC. Can you tell us about the relationship between ECOC, EFG, and GPT?
嘉宾：借贷是目前DeFi中较为常见的场景，也是一个搭建 DeFi 生态的基本场景。ECOChain 的借贷协议中会涉及到三个通证，ECOChain 的原生通证 ECOC、EFG 协议中的借贷代币 EFG以及宽限期代币GPT。
Borrowing is a more common scenario in DeFi today, and it is also a basic scenario for building a DeFi ecosystem. ECOChain’s lending agreement involves three certificates, ECOChain’s native coin ECOC, the lending token, EFG, and the grace period token, GPT.
在这个借贷协议中，用户可以在协议内向智能合约抵押 ECOC 代币，此时会以60%的质押率为基础给用户发放 EFG 代币作为借贷资产，而抵押资产不仅可以是 ECOC，未来也将支持以太坊、比特币等等主流资产作为抵押品。
In this lending agreement, the user can mortgage ECOC tokens to the smart contract within the agreement, at which point EFG tokens are issued to the user on a 60% pledge rate as a lending asset, and the mortgaged asset can be other then ECOC, but will also support mainstream assets such as Ethereum, Bitcoin and other collateral in the future.
而用户归还 EFG 代币时，需要将利息一并归还。利率是按照每天万分之三计算，总利息计息取决于区块的时间戳。当用户资产质押率低于60%以下时，智能合约将开启清算，即抵押品比如ECOC代币会被清算机制扣除。
User will have to return EFG together with the interest. The interest rate is calculated at 0.03% per day, and the total interest charge depends on the time stamp of the block. When the user’s asset pledge rate is below 60%, the smart contract commence liquidation, i.e. collateral such as ECOC tokens is deducted from the clearing mechanism.
由于在 ECOC与EFG 双币种市场价格波动的基础上，会出现一定的性的非理想化利润获取，导致一些用户的资产挪用后无法及时偿还，所以 EFG、DeFi系统设定了合约延期功能，缴纳借贷金额等值5％的GTP即可延期7个小时，而更加合理的是在你预期无法偿还的一定时间内，我们会有280个区块的延长期为您提供合约延长保证金的缴纳， GPT代币是EFG 借贷行为中投资者风险延期利益保障的主要因素。
Since the fluctuations in the market price of ECOC and EFG, there will be some non-idealized profit acquisition, resulting in some users’ assets being misappropriated and unable to repay in time, so the EFG DeFi system set the contract extension function by paying the loan amount equivalent to 5% of GPT, it can be extended for 7 hours to prevent liquidation of asset, and also a reasonable period of time if your unable to repay, we will have 280 blocks of extended period to provide you with the contract extension margin payment, GPT Tokens are the main factor in the protection of investors’ risk deferred benefits in EFG lending behavior.
而对于 GPT 而言，其自身具备了超强应用环境之外，更加富裕了它资本价值，无论是 EFG 的贷款还是 EFG 的质押获取 GPT 代币，其实从代币价值上涨的角度上都会为持有者带来较高的价值空间。无论是挖矿获取 GPT 还是获取借贷获取EFG 都会为参与者带来一定的收获。
For GPT, its own ultra-strong application environment, more affluent its capital value, whether it is EFG loans or EFG staking to obtain GPT tokens, in fact, from the perspective of the value of tokens will bring a higher value for holders. Whether it’s mining for GPT or borrowing for EFG, participants get something.
当然也许有的社区伙伴问，你们为什么要发行 GPT 为什么直接使用 EFG 作为合约延期，这样一个Token有两种应用，岂不是更加可以赋能他的资本价值，其实最早我们也这样考虑过。
Of course, some community partners may ask why we are issuing GPT and not directly using EFG as a contract extension, so that a Token has two applications, would not it be more able to give him capital value, in fact, we thought about it at the earliest.
所以我们做了少量的 GPT 发行并且以挖矿的形式出现，为更多的社区伙伴提供一些福利。同时也带动了 EFG 的流通性减少环节！说到这里想必大家就可以理解了 ECOChain 生态的金融模型！
So we did a small number of GPT releases and they appeared in the form of mining to provide some benefits to more community partners. It also drives the reduced liquidity of EFG! Speaking of which, you can understand the financial model of ECOChain Ecology!
But we have another concern is the equivalent of repayment, EFG circulation and repayment formed the equivalent or overflow? this is a dehumanizing move.
This multi-currency approach perfectly circulates three Tokens in ECOChain, increasing the prosperity and use of the ecology. This part is also the most important part of ECOChain ecology, if you have any questions can be asked in the following question session, our guests will answer.
我们继续提问，上面嘉宾向我们介绍了ECOChain生态三种Token之间的关系中。其中EFG 和 GPT 是最近上线的上线抹茶，而且表现很好。请问EFG和GPT发行量多少，是怎么分配的呢？
As we continue to ask questions, the guests above introduce us to the relationship between ECOChain Eco-Token. Where EFG and GPT are the most recent online matcha, and perform well. What is the EFG and GPT circulation and how is it allocated?
嘉宾：EFG总量固定100万枚，10%将由发行人预扣，90%将由贷款智能合约转移和拥有，也就是说EFG有90%是由借贷产生，而 EFG 将不会销毁也不会被增发。
The total amount of EFG is fixed at 1 million, 10% will be withheld by the us, 90% will be transferred and owned by the loan smart contract, i.e. 90% of the EFG will be generated by borrowing, and EFG will not be destroyed and will not be increased.
The total number of GPT is 10,000 and is used only to delay the liquidation of collateral. Similar to EFG tokens, 90% of GPT tokens are initially deposited into a loan smart card and 10% will be hold by us.
目前，EFG 流通量仅有约为10万枚，而有大概8万多枚 EFG 代币在用于挖矿 GPT，这个数据一直在增加。倘若100万枚 EFG 同时挖矿 GPT，以目前系统的算法预计三个月完全释放9000枚 GPT，而按照目前实际情况 EFG 挖矿至少要持续两年以上才能挖完所有的 GPT。
Currently, there are only about 100,000 EFGs in circulation, and there are over 80k EFG tokens mining GPT, which is increasing. If 1 million EFG mined at the same time, 9000 GPTs are expected to be fully mint in three months using the current system’s algorithms, while in the current reality EFG mining will take at least two years to completely mine all GPT.
主持人：这样的话，可以理解为无论是 EFG还是GPT 都属于早期，并且从上线以来的涨势来看，表现还是不错的，大家可以关注下。
In this way, it can be understood that both EFG and GPT are early, and from the ups and downs since the start of the line, the performance is still good, you can pay attention to.
Then the homeopath asked,EFG now market value of what, this is convenient to disclose?
嘉宾：我们用一个简单的计算方式就可以计算出来 EFG 真正的流通市值，我们刚才提到了一个数据 ，就是挖矿的 EFG 是8万枚证明流通有大概2万枚。我们用2万×现有价格就好了，按照现在的价格 2万×140 = 280万。在所有项目中， EFG 的市值只是项目的开始而已！
The calculation of the market value is very, as we just mentioned that the EFG for mining is over 80k, which prove that there are 20k in circulation. We used 20k X the current price, and the current price of 20000 × 140 = 2.8m. The market value of EFG is just the beginning of the project!
主持人：请问 GPT 的市值有多少呢，也可以透露一下吗？
What is the market value of GPT, can you also reveal?
The purpose of blockchain to be transparent, and it is perfectly possible to disclose that, according to our available data, the GPT circulation of 1000 pieces multiplied by the existing market value, 1000×5000 – $5million market value.
不过大家可以通过 ECOC 区块浏览器看到有 600个GPT 并未转出，所以我们要减去600，还剩下400。
However, you can see through the ECOC block explorer that 600 GPTs are not withdraw out, so we’re subtracting 600, leaving 400.
按照现有市值账户的总额计算 GTP 现有流通量 256枚 计算市值是 256×5000=123万美金。
Based on the total amount of existing market cap accounts, GTP’s current market capitalization of 256 is 256×5000 = $1.28 million。
This proves once again that EFG and GPT are early days, and that wireless possibilities are possible. Let’s continue to ask,how does the integration of behavioral finance theory, mentioned in theEFG white paper, promote the trading motivation of behavioural traders?
That’s a good question, our finance is divided into two sectors, the first sector is traditional finance, belongs to super-normative finance, such as banks, pawn banks and so on and they also exists a type of financial model in it, it is behavioral finance.
比特币就是行为金融的最好案例。EFG 与GTP 也是，他具备了少量与必须的基本元素，少量的发行，必须偿还的特性，这样促进了加以这的交易行为，而借贷部分出现了借贷行为借贷者已经盈利百分之二十，这样形成了借贷者的交易动机，所以就完成了上述理论，当然行为金融学有投机理论部分也包含在了 EFG 与 GTP 当中！
Bitcoin is the best example of behavioral finance. EFG and GTP as well, he has a small number and necessary basic elements, a small number of issues, must repay the characteristics, which promotes the trading behavior, and the lending part of the borrower has been 20 percent profitable, thus forming the borrower’s trading motivation, so the above theory is completed, of course, behavioral finance speculative theory part is also included in the EFG and GTP!
Can you introduce us to the ECOC ecological lending system? How should users participate?
嘉宾: EFG 借贷系统中我们融入了双代币波动性结算方式，借贷结算也是根据双代币的波动价格来做结算 ，可以使用 ECOC 借贷 EFG 同时也可以用 EFG 去抵押挖矿 GPT 这样形成了原有生态与矿工生态的和谐共振，同时促进了生态发展与循环。
EFG lending system we have integrated the double token volatility settlement method, the loan settlement is also based on the double token volatility price settlement, you can use ECOC to borrow EFG and we could also use EFG to stake mining for GPT, so as to form the ecosystem and miners ecological harmony resonance, while promoting ecological development and circulation.
In the process of borrowing , mortgage mining and bilateral fluctuations have become a good opportunity for community ecology to play! At the same time also fully provides fundamental data! Guaranteed operation this can be achieved through basic analysis, liquidity and market value results, thus achieving profitability!
主持人：如果大家没什么问题，本期AMA就到此结束咯，时间已经差不多了。耽误大家晚上休息时间了，再次谢谢大家捧场，更感谢大家关注 ECOChain 生态项目，相信会给大家带来更多惊喜！