WaykiChain 2020 Review and 2021 New Developments

In 2020, the global financial market was shaky. The economic development went on pause or even spiraled down. Blockchain finance was affected, too. This was an extraordinary year. In the dull environment, WaykiChain faced the challenges, upgraded the public chain to 3.0 as planned, developed and improved DeFi applications, and continued the expansion of its global consensus.

We review the past to create a more brilliant future. Here is the summary of what WaykiChain achieved in 2020.

1. Public Chain 3.0 Update & a Better DeFi Ecosystem

On April 30, WaykiChain launched WICC Collateral Insurance, the world’s first DeFi insurance. Pledgers can insure their CDPs. If CDP liquidation leads to a loss of WICC standard, WaykiChain compensates the loss. On May 9, a new version of zero risk collateral insurance was launched with an adjusted insurance rate.

On June 17, the top-tier exchange OKEx listed WaykiChain’s governance token WRGT. With 100+ times the subscription minimum, WGRT broke OKEx’s record for 2020. MXC, AEX, CoinTiger, and Gate.io listed the WGRT/USDT pair on July 29, August 21, September 1, and September 10, respectively.

On July 8 through 15, WaykiChain signed strategic partnership agreements with the famous construction company Atlas Mimarlik and the world-renowned hotel chain Vintage Boutique Hotel Alacati from Turkey. The partners use WaykiChain stablecoin WUSD as a payment method and increase the commercial utility of WaykiChain.

On July 20, WaykiChain public chain performed the 3.0 hardfork and WaykiChain entered the Tiger era. The hardfork enabled 7 new features: WASM VM, pBFT, UTXO, higher TPS, cross-chain, CDP+, and DEX+. With the new pBFT algorithm, the final confirmation of each transaction takes only 3 to 6 seconds. TPS increased from an average of 3,500+ to an average of 4,500+, making WaykiChain the №1 public chain by measured TPS globally. On December 5, WaykiChain completed Ethereum cross-chain and added multiple coins in Instant. Users can experience various WaykiChain DeFi apps easily and effectively.

On August 28, the total WICC collateral reached 46 million tokens or 24% of the circulation supply. The TVL broke USD 11 million. WUSD loans amounted for USD 2.6 million and were used for investment in Hong Kong stock pre-IPOs, cryptocurrency trading, and overseas payments in W Broker.

On September 25, Phoenix Yield Farming launched. ROG farming became available for WICC and WGRT with no pre-mining, no ICO, and no reserves for the founding team. ROG (Rods of God) is the native token of the decentralized synthetic asset issuance protocol Wayki-X. It is the important support and value endorsement for synths. Wayki-DEX and AEX listed ROG. Up till now, 34 million WICC and 170 million WRGT has been staked and 4.8 million ROG has been farmed.

On September 25, the decentralized synthetic asset issuance protocol Wayki-X launched to upgrade WaykiChain’s derivative product line. With Wayki-X, users can trade assets without having to actually hold them. The available assets are 12 cryptocurrencies, 6 global stock indices, and 130 US stocks. Precious metals and more high-quality US stocks, contract trading, and trading fee optimization are coming next. On December 23 through 30, the First Synths Trading Contest was held. It testified the stable operation of Wayki-X and increased the market share of derivatives.

2. Exploring New Limits and Reaching a Broader Global Consensus

From January to March, WaykiChain held offline meetups in Korea, East Java (Indonesia), Istanbul (Turkey) and Michigan (USA). Overseas market team members or ambassadors explained the technological progress, business model, DeFi projects, and development prospects of WaykiChain to the blockchain enthusiasts and WaykiChain fans and provided them with a deeper understanding of and consensus on WaykiChain.

On October 25, WaykiChain and 36Kr jointly held the 2020 DeFi Global Ecosystem Summit and WaykiChain Ecosystem Partner Conference in Shanghai. The guests included Vice President of the China Society for World Trade Organization Studies (CWTO) and former President of the Chinese Academy of International Trade and Economic Cooperation (CAITEC) of the Ministry of Commerce Mr. Huo Jianguo, representatives of traditional financial institutes, ecosystem partners, industry tycoons, and other honored guests. They discussed the hot topics of blockchain decentralized finance. WaykiChain founder & CSO Wayki Sun visited the event together with all co-founders to present the WaykiChain underlying public chain and DeFi ecosystem. The participants had a chance to get a comprehensive understanding of WaykiChain’s technology, business model, and future prospects. The event increased the awareness about WaykiChain and its influence in the public chain and DeFi realms.

Besides hosting meetings in China and globally, WaykiChain also communicated with the industry participants to improve its influence and contribute to the industry development.

On September 11, WaykiChain was invited to the second IoT World China & 5G China expo aiming to expand the global consensus and help China build the new infrastructure. WaykiChain co-founder and CEO Gordon Gao, co-founder and CTO Richard Chen actively participate in large-scale blockchain summits introducing WaykiChain’s status and future development plans to the audience, expressing their personal opinions on public chain technology and hot topics of DeFi applications.

In 2020, WaykiChain co-founder and CEO Gordon Gao joined the following important events:

§ May 18: the keynote speech “What DeFi Should Be?” introducing WaykiChain, the governance token WGRT, WaykiChain’s DeFi mechanism, and ecosystem planning at Asia Crypto Summit Japan Stop.

§ August 12: the discussion “Can DeFi Devour Traditional Finance in the Next 10 Years?” together with Primitive Ventures founding partner Dovey Wan, The Force Protocol co-founder Lei Yu, dForce founder Mindao Yang, Huobi Pool Staking Head Ding Yuan at POW’ER 2020 Blockchain Technology and Application Summit.

§ August 14: the discussion “Changing the World: the New Generation of DeFi Consensus” together with OKEx CEO Jay Hao by OKEx invitation.

§ August 28: discussion of the DeFi development prospects, liquidity mining, and future popular directions, presentation of achievements of the WaykiChain integrated DeFi public chain ecosystem at the 2020 New Trend — Fintech and Blockchain Summit.

§ August 29: the prominent American journalist Jane King interviewed WaykiChain CEO Gordon Gao. Bloomberg TV and FOX News aired the interview on September 12 and 14.

§ September 18: WaykiChain partnered with Korea’s biggest cryptocurrency investor community ICO Pantera Group (판테라의 ICO(메인방)). ICO Pantera Group helps WaykiChain establish consensus in Korea.

§ November 7: lectures “DeFi Industry Panoramic Scan” and “DeFi Financial Principles and Commercial Applications” at the Offline Practical Training Camp of Hash Power University, Wuhan Station.

In 2020, WaykiChain co-founder and CTO Richard Chen joined the following important events:

§ April 17: an online stream on the basic blockchain knowledge for students of Shenzhen University WeBank Institute of FinTech (SWIFT)

§ July 13: the Blockchain Knowledge Sharing live broadcast hosted by SZBA (ShenZhen information service Blockchain Association).

§ July 17: the speech “Facing the Tiger Era, How Can WaykiChain 3.0 Break Through the Tight DeFi Market?” at the AEX 7th anniversary interview series.

§ September 6: the Blockchain + Innovative Service and Industrial Application Conference and the China Chamber of International Commerce Blockchain Innovation Service Industry Committee Establishment Conference as a member of the expert group.

§ December 2: the speech “How WaykiChain Uses WASM to Realize the Synths DApp” at the Blockchain Open Source Technology Conference, China, Shenzhen Station co-hosted by jinse.com and Chainfor.

§ December 23: participation in the discussion “How to Tell the Story of a Public Chain in the Shadow of Ethereum 2.0 and Polkadot” together with the BSC (Binance Smart Chain) representative and other honored guests at 2020 Non-Consensus Conference & DeepChain Annual Impact Awards Ceremony hosted by DeepChain (shenliancaijing.com).

3. New Year, New Climate, Innovative Future

In the turbulent 2020, WaykiChain followed the original goals, continued the development of the public chain foundation, product applications, and the community. Among other things, it completed the public chain upgrade to 3.0, introduced the world’s first three token economic model, the synth protocol Wayki-X, and strengthened the global consensus on WaykiChain.

In 2021, we start a new chapter. First, we continue to deepen what we have. Second, we start new developments. We continue the construction of the public chain 4.0, strengthen our foundation, and increase the overall functionality. We build upper-level DeFi applications on the established WASM smart contract engine and go deeper into DeFi. We also continue to host and visit blockchain forums, continuously strengthen our community in China and broaden our global community for a stronger global consensus.

Up till now, WaykiChain has been in stable operation for three years. Our safety, functionality, and performance are battle tested. This has solidified WaykiChain’s place among the third-generation public chains, adds to its influence in the blockchain industry, and attracts the attention of the institutes and investors who are willing to take part in the WaykiChain ecosystem building. To let more prominent global blockchain communities join the ecosystem construction and to make the next step towards decentralized governance, in 2021, WaykiChain launches Super Node Election and comprehensively starts the community-driven construction.

In 2020, we stood through the hardships and wrote our history together. We are both the witnesses and creators of history. 2021 is the year after the storm when we can continue moving forward and embracing the new. At last, WaykiChain wishes a happy New Year, a new vision, and a new future to all!