In the entire DeFi market, ETH DeFi is the earliest and most popular, so the DeFi on ETH DeFi is likely to be the earliest curtain call. Compared with ETH/TRON, EOS DeFi has a relatively late layout and relatively few DeFi projects, so at present Judging from the fact that the DeFi project on EOS may last relatively longer, of course this is only my personal judgment.

Although most of the EOS DeFi mining coins have fallen, such as BOX, DFS, OGX, DMD, etc., it seems that some matryoshka DeFi projects are still in play, such as the wool wool project. The token wool suddenly rose several times yesterday. , but it seems that it has fallen today, and the DeFi market has changed very quickly.

In the current EOS DeFi projects, the ways to make money can be roughly divided into pledge mining and liquidity mining. Liquidity mining includes market maker mining and transaction mining. Liquidity mining projects are the most, but in In liquid mining, market makers need to deposit two tokens at the same time, and the price of tokens fluctuates too much. We often have to bear the risk of impermanent losses when making markets. Market makers do not necessarily make money. Many friends didn't make any money from market making.

For transaction mining, it is necessary to continue transactions to mine. For ordinary users, continuous manual transactions are indeed a bit troublesome, which is more suitable for mining."the scientist"Some, for us, the one with the lowest threshold is staking mining.

Pledge mining has actually existed for a long time, but the form is different. Compared with market-making mining, pledge mining is obviously much simpler, as long as the corresponding tokens are deposited into the smart contract account of the project party. No, there is no need to bear the risk of impermanent loss. It is a bit similar to depositing currency to earn interest, except that this interest is a new currency. Whether this interest is worth money and how long it can be worth depends on the project side, and we Of course, the more stable operation method that can be adopted is to dig up and sell. Compared with liquidity mining, staking mining is simple and crude, but the rate of return is not necessarily low.

The biggest risk of staking mining is the risk of the contract account, and for the risk of the contract account, the risk is generally avoided to a certain extent through code audit and account setting multi-signature.

The contract code audit is mainly to see if there are any loopholes in the contract code and whether it has been hacked"A litter"In the current DeFi projects, the security companies that mainly undertake contract code audits include SlowMist, Paidun, and Chengdu Lianan. Most of the previous projects were looking for Paidun and SlowMist. Recently, Chengdu Lianan’s audit business Also increased.

For a project, two security companies are generally selected for cross-audit. If one security company missed it, at least there is another one. The results of the two independent audits are all right, at least in terms of security. Much more reliable than an audit. There are also projects that select three auditing companies for cross-audit transactions, such as OneSwap. After all, auditing requires audit fees, and the fees are not low, so most projects choose 1-2 audit companies for auditing.

Is it safe to have the audit results of a security company? We can understand that the audit results are no problem. To a certain extent, it can be inferred that there are no major loopholes in the code (of course not absolute), and the possibility of being hacked is unlikely, but we must be clear that the code audit is mainly to prevent For hackers, after the audit, the project party can still modify the contract code, expand its authority, and transfer the funds in the contract. Therefore, it is much safer to add multi-signature settings after the code audit. If the multi-signature function is not added, the potential risk of the project party running away is still great.

After multi-signature is added to the contract account, whether the project party wants to modify the contract, or the project party wants to transfer the assets in the contract and choose to run away, in addition to the project party’s own signature, other EOS accounts are often required (generally They are all EOS node accounts) to sign together. When the weight of the accounts participating in the signature can reach the specified threshold, the contract can be modified or the assets in the contract can be transferred. Therefore, the cost of unilaterally doing evil by the project party is much higher.

Of course, whether the multi-signature setting is useful depends on how the multi-signature is designed. If the nodes participating in the signature are directly or indirectly controlled by the project party, then the multi-signature is useless, and it is for those who don’t understand. Therefore, it is not necessarily safe to set up multi-signature. It is still necessary to go in and see if the multi-signature setting is reasonable.

With the security framework above, let's look back at the security efforts of the wool project.

First look at the contract code audit. The project has passed the security audit of Chengdu Lianan. Although only one security company participated in the audit, it is better than no audit, and Chengdu Lianan has done a good job in terms of security.

Let's take a look at the multi-signature settings of wool's contract account.

Wool’s contract account uses woolfinfarms. You can see that there are already many assets in the account, including DMD, TPT, USDT, BOX, WOOL and YFC.

Let’s take a look at the specific multi-signature settings of this account.

It can be seen that the multi-signature of the contract account adopts"1+1"mode, that is, when executing contract-related operations, after the project party initiates multi-signature, it needs any node in meet one, eosnation, tp wallet and Whale Exchange to sign together to perform the corresponding operation.

meet one, eosnation, tp wallet, and whale exchange are all independent EOS nodes, and they all have a high reputation in the EOS ecosystem, so it is unlikely that they will collude with the wool project to do evil.

"1+1"Although the model is much more efficient, but"1+1"or"1+2"or"1+3", Dabao and Dafengshou are adopted"1+3"multi-signature mode.

In short, the wool project has adopted the security standard of the EOS DeFi project in terms of security"Audit + multi-signature", although the number of nodes participating in the signature and the security companies participating in the audit are somewhat small, but in terms of security, it is already many times better than those three-no projects."Audit + multi-signature"Under the constraints of the project, the risk of the project party running away is not great.

wool is taken"Audit + multi-signature"After the hard-core security measures, I think the biggest risk now is the risk of wool token price fluctuations. It is a new project and the overall DeFi currency market is not good recently, so the risk of wool price fluctuations is still relatively large. Yesterday it rose Several times, it fell again today.

Therefore, I think that if you want to participate in wool mining, although it is much more efficient to directly buy wool to mine, it is still not recommended to do this, because the income from mining may not be worth the profit brought about by the sharp drop in wool. Losses, the relatively safe way is of course to use your existing coins to participate in pledge mining.

Currently, the currencies supported by wool pledge mining include EOS, USDT, DMD, TPT, YFC and BOX. In addition to staking mining, wool also supports WOOL/EOS LP mining based on Harvest.

After comprehensively evaluating the safety and benefits of wool, I also took out a small part of assets to participate in the token mining of wool yesterday, but I did not directly buy wool to participate, but used the existing DMD and DFC mines wool.

Of course, participating in mining still has certain risks, everyone must be cautious, and if you want to participate, don't put all your wealth in it, and always have a sense of risk in your mind.

secondary title

1. Pledge mining

Pledge mining is to deposit the tokens involved in mining into the contract account of the project party. Wool currently supports the pledge mining of EOS, USDT, DMD, TPT, YFC and BOX.

Let's take the pledged diamond DMD as an example to illustrate.

1. First find and open the Wool Finance app in the new product area of ​​the TokenPocket wallet.

choose"choose"button."choose"button.

maximum"maximum"button, the quantity will be filled automatically. After entering the quantity of pledged tokens, click"Pledge DMD"button to complete the final pledge operation.

After the above steps are completed, you can wait for the wool to be collected.

reward"reward"reward"reward"button, the wool obtained from mining will be transferred to your own EOS account after the operation.

harvest and release"harvest and release"secondary title

2. Mining based on Dafengshou LP Token

First find Dafengshou in the TokenPocket wallet and open it.

Then select in the market-making interface of Dafengshou"EOS+WOOL"After entering the transaction pair and entering the quantity, click"deposit"button to complete the market-making operation.

After the market-making operation is completed, a market-making certificate will be generated.

button."choose"button.

reward"reward"button to transfer the wool obtained from mining to your own wallet.

In addition to wool wool, the EOS DeFi gem project is also worthy of attention. It is said that mining will start tonight, so you can pay more attention.

This article only represents personal opinions, not as investment advice, investment is risky, investment should consider personal risk tolerance, it is recommended to conduct in-depth investigation of the project, and carefully make your own investment decisions.