For systems that do need to pay a certain fee, XCM proripple coin to pkrvides the ability to use assets to purchase execution resources. In a nutshell, this includes three parts:
Like the trading platform, the lending project is also the basic liquidity layer of the crypto worbitcoin halving date and priceld. It plays the role of a bank in the crypto world. Its essence is to coordinate the supply and demand of funds from multiple parties and match liquidity across periods. The business ceiling of this track will expand simultaneously with the expansion of the scale of the encryption business.On the other hand, the demand for matching funds is long-term, and there is no doubt about the sustainability of this track. Although the current funding needs for encrypted lending mainly come from investment leverage, arbitrage, and short-term capital turnover, with the progress of compliance, the channel between the traditional world and encrypted finance will eventually be opened, and the real-world collateral ( The introduction of lending platforms such as real estate and corporate credits, and issuing loans to non-crypto players through stablecoins are all things that are gradually happening, which will bring more room for development to the industry.
Whether as entrepreneurs, investors or ordinary users in this industry, the track of crypto lending is far from the final form. There are still a large number of new products and rich investment opportunities worth looking forward to.As of September 16, 2021, Defi's total TVL has hit a new high since May, reaching 180 billion U.S. dollars. Although the proportion of borrowed TVL has declined, it still occupies the bulk, with a TVL of approximately US$50 billion.In terms of business volume, the established projects Aave, Compound and MakerDAO still firmly occupy the top three positions, and their TVL accounts for more than 70% of the entire lending market.However, the rise of emerging lending projects is also amazing. The top ten projects in TVL include Anchor ($3.12 billion) on Terra, Benqi ($1.23 billion) on the avalanche agreement, and Qubit ($400 million) on BSC. Unlike the big three lending giants that originated in Ethereum, these fast-growing lending forces all come from Ethereum’s competitors, which is the hottest narrative at the moment-the new public chain.What is even more surprising is that in addition to the earlier launch time of Anchor (in March this year), the official launch time of the other two projects is only less than one month.
In terms of the type of lending business, whether it is the number of projects or the amount of funds, basic lending projects account for a higher proportion, followed by leveraged mining lending projects, and other relatively new ones such as risk-graded interest rate products. The business volume is currently relatively small.Project StatusAxie Infinity created an unprecedented type of game that is "play while earning", just like "Candy Legend" created the dominance of free games in 2012.
At this stage, Axie Infinity already has more than 1.5 million daily active players, mainly in the Philippines, Indonesia, Brazil, Venezuela, India and Vietnam. For thousands of users, playing Axie Infinity has become their source of livelihood, and sometimes the revenue provided by this game far exceeds their income from working locally. Although most players are not native users in the crypto industry, through viral word-of-mouth marketing, many people have learned about the Axie Infinity game. The explosive growth, global influence, and extensive revenue generation achieved by the Axie Infinity game is indeed impressive. The reason for this achievement is mainly because they created a new game model of "play while earning". In terms of gameplay, Axie Infinity is similar to Pokémon. Players need to breed and breed Axies, a cartoon character that looks like a salamander, and then participate in the battle. The difference is that instead of winning points, the winner gets the game’s native token-Smooth Love Potion (SLP), which can be immediately transferred to another crypto asset or used as collateral, or Cashed as legal tender. Axies and the digital land of games can be bought and sold between individuals as NFTs, and they even launched a governance token (AXS) that allows holders to determine the future of the game.Another project is Yield Guild Games (YFF), which is a "guild" aimed at the new "play while earning" economy. This union is managed by a decentralized autonomous organization (DAO) for those who want to professionally play Axie Infinity and Other people who "play and earn" games provide "scholarship" incentives to share part of their income. Therefore, this decentralized autonomous organization holds NFTs from various Metaverse games, making its governance token YGG an index of game earning economy. Although the project is still in its infancy, there are already more than 4,500 "scholars" with weekly transactions exceeding US$1 million.In recent months, some other "play while earning" mode games have become more and more popular, such as CryptoBlades, Zed Run, Cometh, REVV, etc. In fact, in the "play while earning" mode games have obtained orders. After the jaw-dropping success, this game revolution is very meaningful for big-name game developers. This trend cannot be ignored, and the futureThe future may see some mature game industry participants begin to incorporate these ideas into their games and bring this game model to a wider audience.Gaming is an industry that covers the world: There are currently more than 2.7 billion gamers in the world, mainly in Asia, Europe and Latin America. In addition, games are firmly integrated into the daily lives of many people: 60% of Americans play video games in some form every day, and video game streaming has 1.2 billion viewers every year. For example, Fortnite is a popular product of Epic Games. Last year, there were more than 350 million live players per month and generated 5.1 billion U.S. dollars in revenue, which shows that even a single game can achieve great success. Some analysts predict that the value of the gaming industry will exceed US$300 billion in the next few years.
However, despite the promising development trajectory of the game field, there are still three major shackles:Shackle one, traditional game players don't really "own" anything. Players mainly buy clothing, weapons, props, etc. on in-game items, but even so, last year's consumption in this area still exceeded US$50 billion. However, in addition to improving player performance and game fun, these game items cannot be used for any other purpose, nor can they be sold, lent or mortgaged for any game items purchased by themselves. These purchase transactions are not real investments.
Shackle two, the interoperability between traditional games is very limited. To a large extent, many games on the current market are still walled gardens: they are independent of different "game worlds" and have their own items and experiences. Of course, this problem is not surprising! Game developers want to gain complete independent control over their own creative efforts, but what if game developers can collaborate with each other in more complex ways?Shackle three, traditional games lack business model options. At this stage, more than 80% of total digital game revenue comes from free games (or "freemium games"). In some successful paid games, most of them only get income through the purchase of skins, which will also limit the design space of some developers. Form follows function. As more game developers launch new business models (such as secondary NFT sales commissions), new game forms will also appear.Why the "Playing and Earning" game can get a big explosionIn fact, there are five major trends that have driven the explosion of "play while earning" games:
Trend 1: The blockchain network continues to expand. Remember the network congestion caused by the "crypto cat" CryptoKitties game in 2017? But now, with the emergence of the second-layer Ethereum expansion protocol, a new high-throughput blockchain, and other scalability solutions, the development of blockchain native games has a solid foundation;Trend 2: NFT becomes mainstream. Many innovations, including the ERC-721 standard, have spawned the recent upsurge in NFT applications. Game companies now have the tools to NFT games, and more importantly, the public can better understand why rare game assets are valuable.Trend 3: DeFi tools and architectures are increasing. Many basic decentralized financial industry tools (for example, AMM automatic market makers) have been tested in actual combat and have been widely implemented. Game developers can combine these tools to realize game financialization and promote purchase, lending, mortgage and other basic financial activities Now they can all enter the game field smoothly.Trend 4: Web2 interoperability. Many traditional large-scale technology giants have also begun to join the decentralized ecosystem, and have also opened up a new distribution mechanism for encryption-driven games. For example, Apple’s recent changes to the App Store can make it easier for iOS users to directly access NFT-based “sides”. Play and earn” game.
Trend 5: Meta universe. "Meta universe" has become a new frontier of digital experience, and the rapid rise of this emerging concept has even aroused Facebook's interest.This summer, Axie Infinity has achieved explosive growth, and many people are also very excited about Yield Guild, which in turn promotes the flourishing of "play while earning" games. After this craze, traditional game giants and cryptocurrency thought leaders have also begun to pay attention to "play while earning" games-under this strong wind, what other projects will be built in the future is very worthy of attention. For investors exploring the field of "playing and earning" games, now is of course a very "fun" moment, but from a broader perspective, it also marks the occurrence of our views on labor, leisure and value Changes-therefore, the "play and earn" game is definitely an important trend we must pay attention to.
Notice of the General Office of the Shanghai Municipal People's Government on Printing and Distributing the "Implementation Plan for Building Shanghai as an International Consumption Center City"All district people's governments, all committees, offices, and bureaus of the municipal government:
The "Implementation Plan for Building Shanghai as an International Consumption Center City" has been approved by the municipal government and is now issued to you. Please implement it carefully.General Office of Shanghai Municipal People's GovernmentAugust 25, 2021Implementation Plan for Shanghai to Build an International Consumption Center CityIn order to thoroughly implement the decisions and deployments of the Party Central Committee and the State Council, this implementation plan is formulated in accordance with the requirements of the Ministry of Commerce and other relevant ministries and commissions in light of actual conditions.1. General requirements
(1) Guiding ideologyGuided by Xi Jinping’s Thought on Socialism with Chinese Characteristics for a New Era, thoroughly implement the spirit of the 19th National Congress of the Communist Party of China and the 2nd, 3rd, 4th, and 5th Plenary Sessions of the 19th National Congress of the Communist Party of China. The spirit of the speech and the important speech at the celebration meeting for the 30th anniversary of the development and opening up of Pudong, scientifically grasp the new development stage, resolutely implement the new development concept, serve the construction of a new development pattern, firmly grasp the new urban function positioning given to Shanghai by the state, and earnestly practice the "people The important concept of “building cities, people cities for the people” is to satisfy the people’s longing for a better life as the starting point and end point, adhere to the strategic basis of expanding domestic demand, and further enhance consumption. In Shanghai, building a domestic large-scale cycle center node and a domestic and international dual-cycle strategic link The fundamental supporting role of the city, making greater contributions to the overall improvement of Shanghai’s urban energy level and core competitiveness.
(2) Basic principlesAdhere to government guidance and market leadership. Give better play to the government's overall planning role, strengthen top-level design and planning guidance, improve the working mechanism of linkage and coordination of all parties, improve relevant policies, and optimize system supply. Follow the laws of urban development and market rules, give full play to the decisive role of the market in resource allocation, stimulate the innovative vitality of market entities, enhance endogenous motivation, and enhance the soft power of cities.
Insist on highlighting characteristics and innovative integration. Give full play to the advantages of Shanghai's resource endowment, highlight the unique advantages of the vast consumer market, agglomeration of high-end resources, active market innovation, and diversified consumer groups, extensively accumulate high-quality market players, deepen the linkage of the "four major brands", and vigorously develop various new formats and models . Promote the formation of a virtuous circle in which domestic and foreign markets are connected, industries are integrated, innovation is promoted, and rules are connected.Adhere to scientific layout and regional linkage. Benchmarking with international first-class standards, optimizing the layout of consumer infrastructure and public service systems, strengthening hub functions, creating consumer landmarks, and comprehensively improving the city’s commercial functions and consumer environment. Focusing on major national strategic deployments, we will give full play to the radiation and driving role of Shanghai's central city, improve the regional modern circulation system, open up urban circulation blockages, and jointly create new momentum for consumption growth, and promote the formation of a strong domestic market.
(3) Overall goalFocusing on planning guidance, market driving, standard docking, and institutional innovation, focusing on "international", focusing on "consumption", highlighting the "center", further improving the quality of supply, creating consumption landmarks, strengthening hub functions, optimizing the consumption environment, and accelerating Promote the quality and expansion of consumption, increase the scale of consumption flow, attract high-end consumption to return, and comprehensively improve Shanghai's international reputation, consumption prosperity, business activity, access convenience and policy guidance, and create a global new product launch site and a global consumer destination , Fully launch the "Shanghai Shopping" brand, and strive to be the first to basically build an international consumer center city with global influence, competitiveness and reputation by the end of the "14th Five-Year Plan".2. Main tasks(1) Constructing a gathering place for integrating global consumption resources
1. Build a global consumer goods distribution center. Amplify the spillover effect of the China International Import Expo (hereinafter referred to as the "CIIE") and promote the transformation of exhibits into commodities. Carry out the construction of Hongqiao and Waigaoqiao National Import Trade Innovation Demonstration Zones, and create a service chain integrating consumer goods import, distribution, and retail promotion. Support commercial enterprises to establish overseas distribution centers, exhibition centers and other marketing networks and logistics service networks. Link up with well-known domestic and foreign brands, create a number of iconic boutique activities, hold several important conference forums, and continue to enhance the influence of the "Five-five Shopping Festival". (The Municipal Commission of Commerce, Hongqiao International Central Business District Management Committee, and relevant district governments are responsible)2. Build Pudong International Consumption Center. Efforts to create high-quality products and service supply, and continuously improve the level of specialization, branding and internationalization. Accelerate the promotion of Pudong’s “Global Consumer Brand Convergence Plan” to attract more international and domestic well-known commercial entities and consumer brands to gather in Pudong, to create a new product launch site for the global market and a vane leading the trend of consumption. Cultivate new consumption models and new formats, implement inclusive and prudential supervision of new consumption formats, and lead and drive domestic consumption upgrade demand. Give full play to the advantages of Pudong's advanced manufacturing and trade and shipping hubs, and promote the construction of consumption platforms and circulation centers. Expand the open cooperation platform, expand the opening of consumer-related service industries, study and explore the relaxation of foreign investment restrictions in the service consumer market such as telecommunications services, medical and health, and promote the upgrading of the service supply system. (The Municipal Commission of Commerce and the Pudong New District Government are responsible)
3. Gather international brands. Make further use of important platforms such as the China International Import Expo to promote the gathering of more internationally renowned high-end brands and emerging fashion brands. Give full play to the role of various e-commerce platforms in Shanghai to provide an incubation platform for international mid-to-high-end brands to enter the domestic market. Make good use of the headquarters economy policy to attract international brand headquarters to Shanghai. Support and guide all districts to accelerate the adjustment of commercial structure, and create conditions for international brands to build full-scene experience centers or service centers. Support the development of third-party professional services that serve high-end consumer brands with international influence. (The Municipal Commission of Commerce and the district governments are responsible)4. Initiate a locally manufactured consumer product brand. Build its own brand of foreign trade enterprises and expand the scope of implementation of "same line, same standard and same quality". Develop urban customized products and advanced customized brands. Start a group of leading local brands and support them to enter shopping malls, platforms, settle in characteristic neighborhoods, and enter duty-free shops. Bigger and stronger Chinese Brand Day, World Design Capital Conference, Design Innovation Exhibition and other brand exhibitions and activities to enhance the influence and reputation of local brands. Create a batch of new Shanghai online consumer brands oriented to vertical fields and subdivided customer groups. (The Municipal Economic Information Commission, the Municipal Commission of Commerce, and the Municipal Development and Reform Commission are responsible)
5. Develop retail private brands. Build a demonstration project for retail enterprises' own brands, support large chain commercial enterprises and e-commerce platforms to implement their own brand strategy, rely on big data to accurately discover consumer demand, improve product management and control capabilities, and use advanced production technology to improve the quality of private brand products. Relying on the "Five-five Shopping Festival" and other major commercial festivals and exhibition platforms, strengthen the promotion of its own brand, cultivate the consumption environment of its own brand, and enhance the image of its own brand. Cultivate and strengthen the private brand industry organization of retail enterprises. (The Municipal Commission of Commerce and the Municipal Economic Information Commission are responsible)6. Revitalize time-honored brands. Deepen the time-honored "One Product, One Policy, One Plan" and support the release of "National Tide New Products". Support the agglomeration and development of time-honored brands in key business districts, upgrade and build flagship stores, brand stores, and integrated stores, and promote the digital transformation of time-honored brands. Implement an international strategy, support the promotion of time-honored brands at the CIIE, enter duty-free shops, and go to cross-border e-commerce platforms. Support time-honored enterprises to go public and issue bonds. Strengthen the special protection of time-honored trademarks, registration protection, coordinated protection in different places, and cross-departmental protection. (The Municipal Commission of Commerce, the Municipal State-owned Assets Supervision and Administration Commission, the Municipal Market Supervision Bureau, the Municipal Intellectual Property Office, and the Municipal Local Financial Supervision Bureau are responsible)
(2) Promote the improvement and expansion of service consumption in multiple fields7. Build an international gastronomic capital. Promote the construction of a food safety demonstration city and build a gastronomic capital with global appeal. Cultivate a group of international-level global catering and food streets, food gathering areas, special markets, etc., to create new supplies around national specialties, catering culture, food and wine matching, fashion tea, quality coffee, etc. Create iconic activities such as "Global Food Festival" and "Shanghai Snack Festival" to promote the integration and exchange of global food culture, tea culture and chef culture. (The Municipal Commission of Commerce, the Municipal Market Supervision Bureau, and the relevant district governments are responsible)8. Expand cultural tourism and leisure consumption. Accelerate the intelligent upgrading of cultural, tourism and sports venues, create a number of cultural facilities gathering areas with international influence, and build a number of high-level e-sports venues. Accelerate the development of the performing arts industry and form the world’s largest and most dense theater group. Cultivate animation industry clusters, and support a group of leading Shanghai local original animation and game enterprises with international competitiveness. Build an important art trading center in the world, establish an online art exhibition space and trading platform, and give full play to the role of the Shanghai International Art Bonded Service Center to attract international art gatherings. Cultivate national culture and tourism consumption pilot cities and demonstration cities. Build a multi-level and diversified flower market circulation system. (The Municipal Bureau of Culture and Tourism, the Municipal Press and Publication Bureau, the Municipal Sports Bureau, the Municipal Commission of Commerce, and the relevant district governments are responsible)9. Promote and enrich sports consumption. Create a multi-level fitness and leisure consumption scene, expand the supply of high-quality national sports events, and optimize supporting services for watching games. Vigorously develop the "three big balls", road running and other sports with consumption-leading characteristics. Encourage social forces to set up various institutions such as sports, physical fitness testing and sports rehabilitation. Develop the sports training market and cultivate sports brands. Promote the full coverage of urban sports centers in all districts to create a sports consumption complex. Carry out the construction of national sports consumption pilot cities, and vigorously develop the economy of holidays and night events, and the sports economy. (The Municipal Sports Bureau and the district governments are responsible)
10. Develop and increase consumption of healthy and elderly care. Create a health industry cluster and a batch of internationally competitive health service projects. Develop customized health check-ups, private health management and other health services, expand online health consumption, and promote the integrated development of medical care, health care, and elderly care. Develop international health tourism consumption, promote global international medical tourism pilot projects, and cultivate a number of internationally competitive medical service brands and projects. Develop tourism products with the health characteristics of Chinese medicine, and build a batch of Chinese medicine health tourism demonstration bases. Encourage social forces to revitalize existing resources and focus on the development of popular elderly care services. Promote the development of the old-age rehabilitation assistive device industry. (Civil Affairs Bureau, Municipal Health Commission, Municipal Development and Reform Commission, and relevant district governments are responsible)(3) Create a new highland leading the global consumer trend
11. Create a global launch site for new products. Deepen the construction of the "Shanghai Global New Product First Launch Demonstration Zone", support the research and formulation of policies and measures to promote the economic development of the first launch in all districts, and create an ecological chain integrating new product release, display and trading. Support leading e-commerce platforms to build global new product network launch platforms. Support the creation of a landmark high-end commercial complex with international influence, and attract the first stores, flagship stores, and concept stores of high-energy brands. Amplify the spillover effect of the CIIE, create a "global new product launch season", and support international brands, local brands and fashion brands to launch new product launches, debuts, first exhibitions and other activities in Shanghai. "Shanghai Fashion Week", "International Beauty Festival" and "Shanghai Auto Show" will be built into professional new product release platforms. Carry out the overall image promotion of Shanghai's global new product launch site. (The Municipal Commission of Commerce and the district governments are responsible)12. Accelerate the digital transformation of business. Create a demonstration zone for commercial digital transformation. Promote all-round digital transformation of large-scale chain commercial enterprises, and build a batch of smart shopping demonstration scenarios. Cultivate a batch of tens of billions of billions of e-commerce benchmark enterprises. Encourage in-depth cooperation between online platforms and physical businesses to create intelligent, customized, and experiential new business formats and new models. Gather a group of live e-commerce platforms that lead the development of the industry. Cultivate a batch of live events with international influence. Encourage brands to set up "live broadcast flagship stores." Build a batch of live broadcast e-commerce bases. Attract a group of MCN institutions with cross-border e-commerce service capabilities. Optimize cross-border payment and settlement services. (The Municipal Commission of Commerce and the relevant district government are responsible)
13. Innovate and upgrade information consumption. Expand the field of 5G applications and cultivate new products, new models, and new business formats for information consumption. Promote the upgraded consumption of new information products such as smart terminals, wearable devices, and smart homes, and expand information services such as online literature and Internet games. Accelerate the development of online audio-visual, and cultivate new high-tech video formats under 5G conditions with higher-tech formats, updated application scenarios, and more beautiful audio-visual experience. Promote the large-scale application of 5G+4K ultra-high-definition video and edge computing networks, and vigorously promote the wide application of technologies such as smart TV operating systems with independent intellectual property rights, ultra-high-definition video codec standards, and digital content copyright protection. (The Municipal Economic Information Commission and the Municipal Culture and Tourism Bureau are responsible)14. Light up the city's night economy. Accelerate the overall layout of the "1+15+X" night economy, develop the riverside night economic vitality belt and the urban night economic core vitality circle, and create 15 landmark nightlife gathering areas and a batch of night economic characteristic demonstration projects. Encourage tourist attractions, museums, art galleries, sports venues, parks and other public venues to launch night events at specific times. Launched the festival brand of "Sixty-six Nightlife Festival". Establish a night economic advisory committee to study the night economic evaluation index system and improve the market autonomy management mechanism. Carry out the construction of night-time economic refined management demonstration zone, and coordinately optimize the city's comprehensive facilities such as night parking, traffic, lighting, and public security. Deepen the system of night district chiefs and chief executive officers of all districts at night, and coordinate the development of the night economy. (The Municipal Commission of Commerce, the Municipal Bureau of Culture and Tourism, the Municipal Sports Bureau, the Municipal Public Security Bureau, the Municipal Transportation Commission, the Municipal Greening and City Appearance Bureau, and the district governments are responsible)