Xcarnival wins first prize in BSC Hackathon with four unique products

Moni

Odaily资深作者

2021-06-11 11:33 (UTC+8)

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Allow users to easily and efficiently create financial products and participate in the "DeFi game".

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Allow users to easily and efficiently create financial products and participate in the "DeFi game".

This article comes fromYahoo, the original author: XCarnival Limited

Odaily Translator |

XCarnival, a digital asset aggregation service provider, won first prize at the Hackathon for Southeast Asia, sponsored by Binance Smart Chain (BSC) and Konomi Network, with four unique products aimed at bringing synthetic assets to the masses market.

By providing users with new and easy-to-use products while maximizing platform liquidity, XCarnival hopes to further lower the threshold for the public to explore the digital market. In fact, the asset synthesis market is one of the most important sources of liquidity in the DeFi field, but due to its high complexity, it has not been accepted by too many ordinary users.

During this hackathon, XCarnival demonstrated a unique solution that not only supports real-world assets and derivatives, but also enables synthetic assets that are not currently available in the financial market. XCarnival founder Leon Liu said:

"We are working hard to innovate - not only synthesizing assets in the real world, but also synthesizing assets that do not exist in the current financial market. We believe that XCarnival can unlock great potential for the decentralized finance industry."

According to Leon Liu, through the series of templates provided by XCarnival, users can easily and efficiently create financial products and participate in the "DeFi game", he added:

During this hackathon, the four core products XCarnival showcased include:

1. XBroker

XBroker is a limited-time auction liquidation mechanism-at this stage, the project has built a pledge model, which is mainly aimed at some assets with extremely low liquidity, and this is currently one of the biggest problems affecting the NFT market.

2. XArena

secondary title

XArena is the main function of XCarneval - it provides many adjustable and customizable parameter templates, and also has a modular architecture that can help users easily build synthetic tokens. Currently, the product has provided standardized components for some synthetic asset trading markets, where users can design their own trading markets and allow XCarneval users to access them.

In fact, XArena provides a variety of templates that allow users to create and publish their own financial products faster and at a lower cost, and allow others to participate in the interaction. Just like YouTube made video production and broadcast media more accessible to the masses, XCarnival hopes to make financial products easy, safe and cheap to create. If all goes well, the financial industry will explode, just like the entertainment industry did more than a decade ago.

3. Megabox

Megabox essentially allows users to liquidate long-tail assets, helping them avoid the "pain" of liquidity constraints, which mainly involves liquidity providers (LP and altcoins, basically, Megabox is a borrowing channel with a better experience.