仅仅半年间，DeFi质押资产即蓬勃发展至20倍，触及100亿美元。在大家在见证“区块链速度”之时，DeFi产品的问题也越发凸显，诸如DeFi产品坑越来越多，没人帮你排雷；去中心化交易所门槛太高，手续费太高，小白用户很难操作；CeFi产品一一上线，唇枪舌战之下到底哪家才有真实力和新亮点。带着这些问题看，币扑邀请到了FBG，创世资本，JC Capital等多家机构投资的衍生品交易CCFOX交易所CEO Joseph King进行深度对话，解读DeFi战役后半场，CeFi还有哪些机会，以及正式揭秘一次质押，三份收益的高收益理财产品到底怎么玩？以下是本次采访内容整理。
嘉宾简介：Joseph King，CCFOX CEO，资深传统金融从业者。
主持人: 从您的角度来看，您能否向我们的社区成员介绍CCFOX，它是如何工作的，CCFOX的意愿和使命是什么？From your perspective, could you introduce the CCFOX to our community members, how it works, what are the will and mission of CCFOX?
Joseph King：CCFOX was established late last year to bring cryptocurrency trading services to anyone and everyone. The team at CCFOX has passion, vision, skill, and enough knowledge to know how to offer our exchange and trading platform to traders successfully. We are confident that we will grow to take significant market share.
Our technology is fully redundant and scalable. Our matching engines, order messaging systems, and risk management systems are all world-class. They will not fall over during extreme volatility periods; your orders will not be rejected; you will be able to operate our platform normally in almost all conditions.
The core team has been well known to each other for many years, and we have much experience running various types of businesses in the financial markets. We bring experience in trading, exchange establishment, management and development, HFT, designated market making, discretionary market-making, blockchain, cryptocurrency, start-ups, VCs, asset management, provision of exchange services, provision of end-user trading platforms, incubation, and many other aspects across the digital economy。
Over the last few years, we have all watched the growth of trading in cryptocurrency, especially around the perpetual swaps and now DeFi, and have all participated in trading these instruments many times. We have all felt the pain of order rejections, forced cascading liquidations, and heard the constant rumors of manipulated markets. We really know how to trade, we have learned about losing money in the market, but we do not like to be cheated, and sometimes in the past, we just felt cheated.
So, we decided to combine all our experiences and set up our exchange to challenge the status quo by bringing a more reliable exchange, with better infrastructure to the market. We know we can provide something much better, something that will meet the actual needs of traders and not just a printing press for the owners. So, this is why CCFOX was established.
We bring together the world of cryptocurrency and the world of traditional financial markets. We are out there in the market like a beacon of hope to all traders that cannot find their way, and we hope that traders find us before they experience the darker side of the cryptocurrency revolution.
Now the main business of CCFOX is offering the contract trading, what is the feature of it, how would you apply your competitiveness in the market and the difference between yours and other brands.
Joseph King：The primary business focus of CCFOX is the derivatives market. There are five distinct advantages of our products。
1: Professional level technology stack
2: Powerful matching engine
3: Multi-dimensional security protection
4: Easy to use, user-friendly trading mechanism
5: High-quality liquidity provision services.
We accessed the problems facing participants in the market, and we saw that, due to the high volatility, many traders had suffered from cascading liquidation events when trading, we knew this was a critical point that would harm our customers. So, we decided to solve this problem, we use the lowest margin rate across the whole industry, in turn, that reduces the chance of liquidation. Then we use a primary 3rd party spot index to improve the fairness and price-quality, which leads to a better trading environment. Additionally, we innovated with technology so that in an extreme liquidation event, our mechanism returns up to 50% of the margin. This is an immensely popular feature with our traders.
Do you have any plan for spot trading and other derivatives? What is the standard to make the decision when launching a new product or new cryptocurrency?
Joseph King：We are continuously researching and developing more products to meet the demands of market participants. This continuous research and development process ensures we can provide a better customer experience. For example, there is a high demand for DeFi derivatives, Yield Curve mining and products related to the hashpower market. We are developing products for all the "digital asset-related" field for the best trading experience for all our customers.
We are in the process of deploying spot trading products that are related to various DeFi products. Also, we will be deploying products associated with Dot and other popular projects and chains; the official announcement will be soon. The new products consider both safety and popularity of products and tokens. Within the trend of Defi, currently, many exchanges are releasing their projects and tokens without passing the code security audit. Although following the trend is necessary, the safety of a project is the only key to be successful. We do not take risks when we launch new products; everything is thoroughly audited and tested internally before we launch anything as the safety of our customers is paramount.
主持人：我看到你们也即将上线 DeFi 流动性挖矿，能否透露下这个 DeFi 流动性挖矿的一些情况？
We notice that CCFOX is going to publish a new DeFi liquidity mining project, could you show us some detail or information about your DeFi project.
Joseph King：We have several DeFi projects in the pipeline; these are all aimed at simplifying DeFi participation for all our current customers and new customers. Our first product, CCFOX Finance (CFI), is innovative and unique. Currently, there are no similar products in the market, and we will be launching it shortly. The CFI is a professional Yield Farming pool based on Hedge Fund and Mutual Fund principals, and anyone can join with minimum customer interaction and straight from our web platform and APP.
The total supply of first CFI yield farming financial product at 5 million USDT, the minimum quota for a single customer is 100 USDT, the maximum is 50,000 USDT. CFI aims to solve many problems associated with DeFi Yield Mining, such as the need to understand complex financial instruments, the high cost of participation through Gas and contract fees, while gaining maximum returns on capital. We only allocate capital to the most reliable and safest products that give stable high returns. Our CFI product is easy to participate in and brings incredible experience to the customers.
Now many exchanges are open their DeFi mining business, what is your advantage comparing with other exchange?
Joseph King：CCFOX Finance has been established after a comprehensive investigation of the DeFi market and has various advantages compared with other DeFi products. By establishing an innovative DeFi product, we create a unique experience for our customers.
Many exchanges have started to participate in the DeFi mining business, some by listing DeFi spot contracts and others have launched DeFi yield mining platforms. Most of these DeFi yield mining platforms are usually just forks; there is no innovation there, only a copy and paste of already popular products.
At CCFOX, we innovate. We launch our first DeFi product, CFI, and it is a complete solution, easy to join in and easy to exit, combining "stake to mining" and "trade to mining" features, meaning that customers can both Stake and trade to receive returns.
For the Stake to mining of CFI, customers can purchase some quota and receive the CFI yield farming rewards and platform token rewards. Customers who stake CFI can exchange CCFOX USDT margin by a proportion of 1:1 rate to trade derivatives, thus participating in the 'trade to mining' and would then be applicable to gain rewards such as FOX token airdrops
So, staking can return up to 3 benefits for each customer, Due to the limitation of the quantity of CFI, people who do not purchase CFI would still be able to 'Trade to Mining FOX tokens. For further details, please visit our website and check the announcement.
As an individual, how could we participate in the CCFOX DeFi mining project?
Joseph King：It is a simple process; all anyone must do is download the CCFOX app or visit the website, purchase CFI from the spot trading contracts then start staking. Once they are staking CFI, they will automatically begin to receive profits from yield farming by holding CFI, as well as automatically apply for other benefits such as airdrops of the FOX platform token.
After staking the CFI, profits get distributed in USDT margin, which can be used in derivatives trading if the customer wishes. Those customers that also trade derivatives on CCFOCX will also be awarded a FOX token airdrop.
The lock-up period for CFI is 30 days, though if any of customer wants to exit the CFI position, they can trade their CFI in the real-time CCFOX spot trading contract and realize their capital and profits. Therefore, CFI is so customer friendly; we make it as easy as possible for the customer to participate or exit whenever they want.
If anything is unclear, then anyone can contact our WeChat customer services team and join our Defi farming group to receive the latest news of our project. If there are any suggestions and advice, we are happy to hear it which is essential for us to and would help us to improve.
CCFOX has invested by many famous investing capitals and establish an excellent cooperation network, how would you have such great achievements, and how do you attract each other to cooperate with?
Joseph King：Through our good reputation and our long-established relationships with key entities and people throughout the traditional financial industry and cryptocurrency/blockchain industry, our investment partners include leading industry names such as FBG Capital, Genesis Capital, JC Capital, Honglian Capital and Conifers Capital.
CCFOX was established in 2019, withing 8 months, the total traded volume of CCFOX put us into the top 10 list of cryptocurrency exchanges. Every day we serve a significant number of customers across the globe. Additionally, we also provide white label and cloud exchange services to more than 18 global exchanges, who all rely on our high-performance infrastructure to manage countless customers and run profitable exchange operations.
Most importantly, CCFOX is built on the excellent reputation of the partners who are all well-known and experts in different aspects of the financial trading business, all of us stand behind our good reputation and invest that into the operation of CCFOX. We all believe that the customer, any customer, is the single most crucial aspect of our business and strive to ensure that all our customers are satisfied.
Does CCFOX have any plan for platform token? If so, what is the difference in the design structure between the CCFOX Platform token and other mainstream platform tokens? If it does not, why?
Joseph King：In line with our DeFi product launch, CCFOX is now launching our platform token, FOX, with the total supply of one billion, at an initial price of 0.1 USDT with a total token value of 100 million USDT. FOX token is the only platform token of CCFOX and is an essential part of the CCFOX ecosystem
We will reward 10 million FOX tokens to the customers who participate in the CFI. We will also reward tokens to any customer that participates on our spot exchange, in our new hashpower products, in various futures and options, our DEX and any other products that in the planed CCFOX development strategy. Customers that own the FOX token will benefit from fee discounts, the priority to purchase any new value-seeking fund products that we launch, and many more rights in the future. FOX token will also be supplied to the customers of our cloud exchange partners too.
CCFOX will use 30% of income monthly to buyback the FOX tokens and burn them. The launch period of FOX token is in Q42020. Please check our website or social media for further announcements.