DeFi trendsetter, scientist’s bull market
Editor's Note: This article comes fromDeep tide TechFlow (ID: Tech-Flow), Author: Bonnie, reproduced by Odaily with authorization.
Editor's Note: This article comes from
Deep tide TechFlow (ID: Tech-Flow)
Deep tide TechFlow (ID: Tech-Flow)
, Author: Bonnie, reproduced by Odaily with authorization.
"The era of bigwigs in the currency circle has passed, and now it is popular to call them 'scientists'." An investor said.
The profession is not as revered as a scientist in the traditional sense. They are mysterious and unpredictable. Some people admire them for returning with fruitful results, while others despise them for destroying the DeFi ecology.
It is a word coined by the Chinese currency circle. In foreign countries, it is common to refer to this group of people as Hacker, which is a highly skilled computer expert.
DeFi, the world of decentralized finance, claims that everyone can participate fairly, but knowledge thresholds and capital scale are dividing this utopian world.
They are at the top of the DeFi wave. Technology is their gold-digging weapon. They compete with their brains, seize the opportunity, and dig up batches of gold mines.
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What is a scientist?
"DeFi has made the three major exchanges too anxious, and they are all in chaos." An exchange practitioner said. In the past month, the three major firms have been busy launching dozens of DeFi tokens.
DeFi is known as the biggest variable in the blockchain world in 2020. Under the impact of waves of DeFi booms, the pattern of the currency circle has quietly changed.
In the Chinese currency circle, there is a debate about the new and old leeks, and the old leeks are left far behind by the new ones; there are also remarks that CEX will be replaced by DEX-on August 30, the 24-hour trading volume of Uniswap surpassed Coinbase pro for the first time.
Before the DeFi boom, the logic of the classical currency circle was that exchanges stood at the top of the pyramid. The exchange splits the Token Fund, the Token Fund splits the project party, and the project side and the exchange split the leek.
Under the popularity of DeFi, everything has become different.
"The project side cuts private placement, private placement cuts public placement, public placement cuts Uniswap leeks, Uniswap leeks cuts Hufu, Matcha leeks, Hufu and leeks cut the three old leeks, this is the current currency circle." Said an investor.
DeFi project parties do not need listing fees, capital platforms, or even private placements, just like a tight and airtight wall.
And who can harvest the project party?
A group of people known as scientists surfaced.
Scientists in the currency circle are not traditional scientists who are actually admired. This is a group of professions that have emerged due to the DeFi boom. People have several explanations for them.
One way of saying it is that a scientist refers to a person who makes huge profits by using DeFi applications for opportunism and arbitrage through various breakthroughs and under various rules.
Another way of saying: people who specialize in Dapp and DeFi wool. (Currency circle blogger "Super Bitcoin")
However, the word scientist does not seem to exist in foreign currency circles. The more common word is Hacker. It can be seen that "scientist" originated from the Chinese currency circle.
There is no uniform conclusion on the definition of scientists, but the undeniable commonality is that this is a group of people who rely on technical strength to squeeze DeFi wool.
Low-key but hard to ignore, they have been mixed with praise and criticism, from some seeing them as opportunists who take advantage of loopholes to others seeing them as living on their own. And more, I want to become a scientist and become the unimpeded king of the DeFi world.
"The height of cognition determines the level of harvest. In this bull market, the most profitable ones are 'scientists'. There is no cost and no risk. It is really important to learn a programming language. I wonder if it is too late to learn python?" Expressed without envy.
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scientist's bull
"This wave is a bull market for scientists." An investor said in the Deep Wave TechFlow community.
"Scientists have always been bulls." DeFi Labs founder Daidai replied below.
DeFi applications are built from smart contract codes on the chain, and ordinary users need to have a certain understanding of the attributes and specificities of smart contracts during the participation process.
Ordinary users frequently fail in the DeFi process. On the third day of the operation of the DeFi protocol SushiSwap, a user transferred 400,000 USDT by mistake because he did not understand the DeFi gameplay.
Taking YAM as an example, when YAM’s second pool was first opened, there was a bug on the login page, and most of the miners were blocked from the door, and only a few “scientists” who were proficient in code grabbed the first mine.
In general, scientists have 3 modes of operation:
1. When Uniswap and other DEXs list new coins or when new DeFi projects start public offerings, they enter the test network to "grab the first block" and collect new coins at low cost. After they are officially launched, they are sold to retail investors at high prices.
2. Aave flash loan, which requires some programming skills, is mainly for developers, and does not require asset collateral. In February of this year, some scientists used the DeFi loan agreement bZx to obtain hundreds of thousands of paper income in a single transaction.
3. Entering a project team is equivalent to finding the "compilation". For example, YFII is said to have more than 70 scientists, including contract development, front-end development, and strategy development.
In the DeFi world, there is no definition of legal rules, nor the constraints of moral order. "The money is on the gambling table, and if you have the ability, you can get it yourself." A scientist told Shenchao TechFlow.
Scientists can destroy or "kill" a project. On July 20, the first liquid mining project DeFis Network (DFS) was released on EOS, attracting a large number of "scientists".
These scientists create air coin trading pairs for one-way mining. DFS can be mined only by consuming handling fees, which is equivalent to cost-free mining. After DFS went online, scientists sold DFS regardless of cost, causing the currency price to plummet, with a drop of up to 97%.
Later, the project team adjusted the rules for loopholes, but DeFis has become a wool machine for scientists, so they had to announce the tentative transaction mining. Due to the problem of setting rules and mechanisms, DFS will die within 3 days.
The elastic blockchain network SKALE (SKL) originally launched the public offering at 12:00 pm EST on August 17th, but it had to be postponed due to the huge traffic on the website.
"Skale was wiped out by scientists." Some investors explained why.
"Killing" these projects does not constitute a psychological burden on scientists. Loopholes in the rules are their gold mines.
"I stare at Discord and Twitter in the middle of the night just to dig a mine. Isn't it right to get income? Is it reasonable to let stockholders who don't read the information of the currency circle get income?" said a scientist on YFI.
Scientists look down on the DeFi world, but they also have the experience of stumbled.
On the evening of August 20th, many scientists were lured by the "AMPL imitation disk" DZI on JustSwap.
Since the DZI team did not inject liquidity during the test, the TRX of the scientists rushed into the trading pair, and the price of DZI was quickly raised by hundreds of millions of times. Some scientists exchanged 320,000 TRX for 0.0004 DZI. The initial price of DZI was originally $1. It is equivalent to the scientist's currency falling tens of thousands of times when it goes online.
"This may be the only project that makes scientists lose money." Someone mocked in the community.
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scientist, fashionista
Scientists in DeFi can be compared to the tech wool party of the internet.
During the mobile Internet subsidy war, the professional wool party came into being. A mobile phone number can only be registered once to enjoy a discount, and these professional wool parties have opened up an industrial chain of raising cards, registering accounts, receiving SMS verification codes, and collecting wool.
In December 2018, Starbucks launched the "App Registration Newcomer Gift" event. The Wool Party registered a false account and received event coupons, which caused Starbucks to cancel the event urgently. It is reported that in just one and a half days, Starbucks lost tens of millions of yuan.
In 2018, when the IC0 project was all the rage, major project parties used airdrop candy to attract users, which also became the stage where the wool party ran rampant. There are rumors that someone used 400 mailboxes to get the airdrop of ONT, and sold coins to earn hundreds of thousands.
After the mobile Internet subsidy war and IC0 died down, DeFi, which is now in full swing, is naturally indispensable.
In June of this year, the "liquidity mining" launched by Compound is equivalent to sending subsidies to those who provide liquidity, which is similar to the subsidy strategy of Internet companies. And the following wave of "liquidity mining" attracted tens of billions of funds to enter the market. Recently, the total locked position of Ethereum DeFi exceeded 11 billion US dollars.
In this wave of DeFi, most of the earners are scientists and big investors, and technology and capital are their threshold. Not only is it difficult for retail investors to get a share of the pie, but they are often ridiculed as "stubborn old leeks" because they often lose coins or lose money because they don't understand technology.
