From the perspective of non-cooperative game, the essential difference between Bitcoin and World of Warcraft

Written by | Banach

Time | 2021.01.19

Produced | NEST fans (nestfans.com) authorized by the author to publish

Produced | NEST fans (nestfans.com) authorized by the author to publishContinued from the previous article:

"Blockchain Development: Converging to the Law, Not Compromising to the Phenomena"The first thing NEST needs to do is to popularize it so that more people can participate in mining; the second is to improve the usability of the product so that more people can access it. Financialization, as the name implies, financial capitalization, Ethereum is a typical example of financial needs in the system.

The functional requirement of GAS payment was used as an ICO consideration financing tool in the early stage, and later developed into a DeFi liquidity mining tool, which has strong financial attributes. Risk management also indirectly affects the invocation of oracles.What we are doing now is to find linear operators to produce more assets, and then establish a closed-loop application of these assets with NEST.

Parallel assets are somewhat similar to stablecoins, but not quite. If it only stays functional, its vitality and value will be greatly reduced. The process of financialization will bring exponential effects: Mortgage NEST to generate PUSD, then buy NEST, and then mortgage, so that the leverage is constantly increasing. In the process of financialization, the call of the oracle machine has been continuously increased, thereby increasing the demand for NEST repurchase. We don't see its value today.CoFiX2.0 will automatically have someone to complete hedging and asset allocation.

For example, I currently hold NEST and ETH, and I hope to maintain the intrinsic value of 1:2. I will make a script on Huobi, and use the script to adjust the position when the price rises or falls, but can this process be put on the chain? Entering the game asset management, anyone can "throw" their own assets on the chain, and there will be an automatic adjustment to the edge of the securities market line through GAME, and then set the acceptable risk and return, Allowing automatic trading of assets, AMM is actually such a process. When the game asset management is promoted, leverage is automatically generated/offset, and the demand for calls further strengthens the demand for repurchases.STP = Y, assuming that only T and P are considered, any desired transaction can be designed based on price information flow, as long as there is price information flow, only the opponent is left with difficulty in making options.

If the buyer and seller of an option are exactly matched, and there is a gap of many positions in between, then who will do the counterparty? If the NEST system is Wall Street, DAO is Goldman Sachs. DAO has a long life cycle, acting as the absolute seller of options (the role of earning time value), acquiring NEST from the market, and thus entering the complete deflation stage. If you want to make an option, you can buy it directly from DAO. As a supplier of information flow transactions, you can issue unlimited options, which is related to DAO's internal assets. When the model is established and financialization continues, it will enter the normative stage.

Now the barbaric growth of DeFi emphasizes rationality, and P2P demons danced wildly back then, but it is not logically true. Provide such a high rate of return, if you want to close the loop, you can’t find such a source of income, so you try to transfer the profitability to the secondary market, and then the gap expands infinitely. After moving towards financialization, the brand-new idea of ​​decentralized risk management will also bring new propositions: what is the mortgage rate of the entire system? Which assets will undergo truly valuable fission? The NEST 4.0 version will randomize mining, financialize the system layer, and overcome the problem of verification incentives.The core development path of the blockchain is also the path explored in the early stage of the Ethereum process, which can be summarized as: consensus-currency price-ecology.In the consensus stage, tell a story first, and use all means to increase the price of the currency. When the value of the currency increases and the liquidity increases, some people will do ecological earning in it, such as market value management, low-threshold development, capital investment, etc. TRON has done things that cater to human nature to the extreme.We did some introspection in the process of communityization, and found that this path can no longer be followed, because it will form a collapsed equilibrium. Therefore, it should be changed to: demand-ecology-consensus.

Participating in a lot of DeFi and many popular projects, you will find that in addition to providing liquidity, a large part of it is actually liabilities.A system that is not a cooperative game, if it does not create new attributes and functions acceptable to the society at the time of equilibrium, it will become a game.

Only brand new ones have social value and can spread out. The reason why we start from demand in reverse is precisely because we have seen that if there is no demand, it is easy to form a negative cycle, and the bottom-level balance cannot be locked. It is not easy to analyze the needs related to human nature. Instead of analyzing what the needs are, it is better to analyze the structure of the needs.There is a concentric circle here, inside the NEST system - NEST ecology - associated community - DeFi community - ETH community - currency circle - Internet - the needs of ordinary people.Many people rush to the needs of ordinary people from the very beginning of their projects. In fact, the uncertainty is increasing, and the needs of the circle are the most certain.

What are the needs of NEST's internal system: miners need to buy a lot of assets to quote, and bear the risk of asset fluctuations. Parallel assets use NEST to generate these quotation assets, which directly locks the needs of miners. After the internal needs of the miners are met, dynamic asset management is carried out to keep the ratio of NEST and ETH. AC is also doing it. For example, KEEP3R puts off-chain scripts on the chain. He has this requirement off-chain, which also starts from within the system.The further you go, the higher the uncertainty, and the harder it is to find resonance. Consolidate the underlying requirements in this dimension, contribute to the call of the oracle,We call it non-spillover demand, and the DeFi community will be aware of this problem.

It is difficult to survive on only one contract, but adding complexity through these requirements can create the needs of the entire ecosystem. After establishing a relationship with other communities, a consensus is gradually established, and the public chain has already fallen into this road.