BLEX Bangkok night perfectly concludes

Author: BLEX

2023 has already passed the halfway mark, and a new wave of Web3 enthusiasm continues in the nights of Bangkok. On July 10, 2023, at 7 PM Bangkok time, the "BLEX Bangkok Night" event, hosted by Bangkok DAO and sponsored by the decentralized trading platform BLEX, successfully concluded at L7 cafe in Bangkok. The event featured a keynote speech by BLEX project advisor Anil Ertaskin and a roundtable discussion with several local Web3 KOLs, focusing primarily on the DeFi sector. Various participants from the Web3 community gathered at the "BLEX Bangkok Night," with over 100 diverse Web3 practitioners engaging in open and friendly exchanges.

During the speech, BLEX project advisor Anil Ertaskin introduced BLEX to the attendees:

"BLEX is a decentralized perpetual contract trading platform based on an index pricing model, aimed at allowing users to deploy various trading strategies efficiently and securely without permission and with low costs while maintaining control over their personal assets. BLEX features an exclusive on-chain multi-token economic system, which includes 4 tokens and 1 NFT. Additionally, BLEX is a DAO-managed perpetual contract trading platform, and the revenue from the BLEX protocol will be shared with BLE token holders and NFT holders."

Erstakin revealed that BLEX has successfully deployed on the Arbitrum testnet and is expected to launch on the mainnet this quarter. Erstakin stated that the BLEX testnet incentive program will continue until the project launches on the mainnet, and the BLEX official website has also released a bug bounty program. BLEX will provide additional rewards for early participants in the project. The BLEX operations team has also been actively conducting offline events in several countries and regions in Southeast Asia to showcase BLEX's innovative on-chain trading products.

At the end of the speech, Erstakin pointed out that decentralized trading platforms can promote financial inclusion, allowing more people to participate in the global financial system, regardless of their location or economic status. BLEX will uphold this mission, continuously promoting the liquidity and development of cryptocurrency assets, providing more opportunities and possibilities for project parties and investors, and driving the prosperity of the entire cryptocurrency ecosystem.

After the speech, a roundtable discussion themed "DeFi: An Innovative Tool for Restructuring the Global Financial System" took place. June, the author of "Web3.0: A Portrait of All Beings," served as the moderator, with roundtable guests including ANGC co-founder Sibyl, Bangkok DAO founder Dr. Ken, Nova.win community contributor Leo Wang, and Meta Media co-founder Guo Xiaomiao. The attendees engaged in in-depth discussions on topics such as the current state and future outlook of DeFi.

June stated that the DeFi market has experienced explosive growth over the past few years. DEXs, lending platforms, stablecoins, and liquidity mining have rapidly emerged, attracting a large number of users and capital. According to data from Defillama, the current TVL in the DeFi market is $44 billion, which has significantly declined from over $160 billion in 2021, but it still shows investors' confidence in DeFi protocols and their interest in the financial services and yield opportunities they provide. We have reason to believe that DeFi is still in a rapid growth cycle.

Regarding the question of "Outlook on the Future of DeFi," Dr. Ken summarized that decentralized finance has truly brought blockchain technology to the forefront. Without decentralized finance, the market would likely still be stuck in the most primitive and basic concepts of blockchain. Dr. Ken believes that finance is the lubricant for the development and progress of society as a whole, and decentralized finance is the trend for the future development of blockchain, perhaps even the only path for development. Furthermore, Dr. Ken mentioned that the next wave of the cryptocurrency industry's bull market may start from Dubai and advised attendees to pay more attention to the DEX sector.

On the question of "Which DeFi sector is more likely to see paradigm innovation," ANGC co-founder Sibyl stated that the specific direction of paradigm innovation is difficult to predict, as the DeFi market is constantly evolving. Sibyl believes that the DEX sector is most likely to see changes first, as the market has already made a choice: DEXs are the category with the highest TVL among all DeFi protocols; secondly, she believes that trading is fundamental to the existence of the cryptocurrency industry.

DEXs eliminate the intermediary role of traditional centralized exchanges, allowing transactions to occur directly on the blockchain. This decentralized trading method offers high levels of openness and transparency, providing users with a more direct, secure, and trustworthy trading environment. In a DEX, users fully control their digital asset private keys and ownership, without needing to entrust their assets to a centralized exchange. This provides users with greater security and autonomy, reducing the need for trust in centralized institutions and mitigating the risk of another FTX crisis.

Regarding the question of "Designing DeFi Token Economic Models," Nova.win community contributor Leo Wang shared his views. Leo mentioned that DeFi tokens have been in a downward trend for the past two years, and he personally feels strongly about the issues with their token economic models. The two major star DeFi tokens, Uni and DYDX, have fallen from their peaks, yet Uni, as the largest spot DEX, and DYDX, as the largest perpetual contract trading platform on the current chain, have very objective protocol revenues. However, their token holders do not directly share in the protocol's revenue or profits, which all belong to the project parties. Due to the indirect correlation between protocol revenue and token holder interests, token prices may be more influenced by market supply and demand and speculative factors. This can lead to a disconnect between token prices and the actual utility value of the protocol, resulting in market volatility and potential investment risks.

In response to this issue, ANGC co-founder Sibyl added that the DeFi field is an environment full of innovation and experimentation, and BLEX has proposed a diversified token economic model. The BLEX token economic system consists of 4 tokens and 1 NFT. The BLEX token economic system encourages users to actively participate in and support the construction of the protocol's ecosystem through incentive mechanisms, sharing 30% of the protocol's revenue with BLE token holders. Additionally, as a DAO-managed on-chain DEX, users can hold BLE to participate in protocol development and governance voting.

The BLEX token economic system provides users with the motivation to participate in and support the development of the protocol through advantages such as incentive mechanisms, diverse use cases, enhanced liquidity, and market demand feedback, promoting the prosperity and healthy development of the protocol's ecosystem. This design of the token economic system helps establish a more active and sustainable DeFi ecosystem.

On the question of "What opportunities and challenges do DeFi protocols face amid regulatory pressures and challenges," Meta Media co-founder and Ouyun Capital co-founder Guo Xiaomiao summarized from both opportunity and challenge perspectives. The opportunities for DeFi: During the long bear market, for builders in the industry, it is actually an opportunity. Builders just need to be prepared before the cryptocurrency bull market arrives. The same goes for investors.

As for the challenges facing DeFi, Guo Xiaomiao stated that regulation has always been a severe issue accompanying the industry's development. Every industry practitioner faces this problem. How to choose a more compliant path or a city that is more friendly to crypto is a test for industry builders.

At the end of the roundtable, Sibyl made a concluding statement. She expressed that BLEX looks forward to establishing good partnerships with attendees and working together with all Web3 practitioners to build a healthy and transparent trading ecosystem. If attendees have any cooperation intentions with BLEX, they are welcome to contact the BLEX staff on-site after the event. Thank you all for your time, and enjoy your time at the "BLEX Bangkok Night"!