时间：2023-08-15|浏览：170
Digital tokens in the Ethereum ecosystem have emerged as an important asset class owing to the rise of DeFi ecology. These tokens have all the advantages that blockchains and Ethereum have to offer in terms of transparency in total number of coins, owners, minting, fast confirmation times, transaction details, and smart contract execution. Tokens on the Ethereum blockchain can serve several different functions; this paper will specifically focus on asset-backed or wrapped tokens. The prices of these tokens reflect the price of the asset backing them, and hence they can also be called "stablecoins". Asset-backed tokens are usually done in two different ways:
Programmable - This is a mechanism followed by some tokens on Ethereum where demand and supply are controlled by smart contracts in order to keep the price of the token in line with a fiat currency. Some examples of this are Dai and Comp.
Not decentralized - Assets are stored with an organization which publishes proof of reserves. Instead of relying entirely on one institution, they rely on a consortium of institutions performing different roles in the network. This whitepaper proposes a framework for issuing asset-backed tokens by addressing challenges with scalability, trust, regulation, and governance.
Advancer is a blockchain-based distributed financial (DeFi) protocol, and its native coin is ADC. Advancer will fully expand the goal of DeFi and developing a new generation of decentralized digital financial technology. Advancer will be a jewel on the giant's shoulder and dedicated to the digital financial community in 2020.
Based on the Advancer ecology, a decentralized financial platform is implemented to help users realize a full range of financial activities in the field of digital currency finance, including but not limited to mining, lending, ABS, quantification, derivatives, and other financial services.
Tokenization
The act of tokenizing assets can:
- Faster: Ethereum blocks are created every ~15 seconds and it is possible to have a fair deal of confidence in their revocability of a transaction in less than 5 minutes.
- Fewer middlemen: One of the key benefits of assets on a blockchain is their ability to be transacted without intermediaries. This can be done through atomic swaps, decentralized exchange protocols, and lightning/raiden style channels.
- Hypersecurity: Tokenization, along with the oracle system, enables users to have full control of private keys of the asset. Users who do not want to hold keys can reduce counterparty risk by moving it from exchanges to a security-focused custodian.
- User-friendly: The ERC20 standard has been adopted by a large number of institutions and products. This provides users with a variety of exchanges, wallets, and DApps to use while handling their tokenized asset. They also have the ability to move tokens quickly.
Goal of Advancer Protocol
The decentralization of the blockchain achieves the credit level that traditional finance cannot achieve. The characteristics of digital asset chain that can be queried, traced back, and cannot be modified will continue to expand the Advancer platform and help more users with resources and needs.
1. Establish an autonomous financial system and implement modern financial transformation of existing digital currency products in accordance with certain rules.
2. Establish communication channels between existing physical finance and digital currency finance.
3. Establish a community co-governance rule and a technology roadmap that can grow in line with future trends.
ORACLE/Advancer External Entity Port (Exif):
Because Advancer needs to complete external investment docking, it must introduce a trusted and secure interface entity of the autonomous community. This interface entity is similar to oracle provided by Ethereum, but Advancer introduces trusted authentication, voting mechanism, and random verification on this basis. To improve the reliability and security of online and offline interfaces.
Ordinary investment users and foundations will dynamically evaluate each external interface based on Advancer weights and Advancer shares, or you can authorize voting based on a third party for dynamic evaluation through authorized delegation. The result of each user's evaluation of exIF will be stored on the chain. The Advancer contract will periodically perform the evaluation results and serve as the final evaluation result of exIF.
When the contract calls the external entity interface, it will refer to the evaluation results of exIF and try to reach a consensus on the input information; if the consensus is reached, the data is written into the blockchain, otherwise the relevant contract actions will not be executed.
Hypothecation
It is possible to allocate tokens "locked" in the bridge as collateral for loan through cryptocurrency lending services such as Compound. Guarantees must be in place so that any locked funds are returned on request, whenever a bridge transfer is initiated. We will explore this methodology to ensure it is sound and analyze the costs/benefits of this novel approach for providing additional staking incentives.
To place a stake, a validator must have at least CANDIDATE_MIN_STAKE tokens on the ERC balance of its staking address. This address must also have a balance of native coins to pay for gas costs. To get staking tokens from Ethereum mainnet (foreign network), a validator uses the bridge.
Advancer Upgrade Form:
After accumulating a large number of third-party investment products, Advancer launched a digital finance investment system based on community autonomy through community voting. At this stage, the generation, maintenance, evolution, disappearance, and liquidation of all financial products were completed through community autonomy. The foundation will degenerate into ordinary investors. Therefore, in this process, the most important thing is to complete the Advancer-based voting scheme and how to complete the scheme from voting to the actual product safety landing.
At present, it is recommended to use the principal mode to implement the plan, and later rely on community contribution to form the final form.
Advancer Evolutionary Form:
Advancer may be configured to run as a standalone blockchain. It can also run using a bridge or bridges which connect to one or more other networks. This bridged scenario is used in the reference implementation and described below. If the network is initiated from the genesis block, all of the addresses in the network (including initial validators) have zero balances. There are no pre-initialized stakes for initial validators, so their pools are also empty.
The core of Advancer's future form is a digital central bank that realizes distributed autonomy and forms a stable, self-evolving financial system of community autonomy that supports the full integration of online and offline finance. The core of distributed central banks is interest rate control and currency injection. The total amount of control, if it is controlled by programmatic smart contracts, will inevitably be attacked to some extent. Therefore, in this form, it is necessary to solve how to form a central bank resolution. The current proposal is to use a weight-based candidate representatives system to pass the line. The above proposals and online resolution voting methods form the final conclusion.
ADC Token Distribution
Total supply: 210,000,000
Genesis Issuance: 4,200,000 (7%)
DeFi Mining: 184,800,000 (88%)
Loophole Fixer: 10,500,000 (5%)
The smart contract of Advancer Coin on Ethereum network is: 0x30db6dcb7230d20656acc4f1df8ef0c9be28a0b5
1. The portion of Genesis Issuance will be divided into two parts. The first part will be launched at the Converger Swapper with the exchange rate of 1ETH = 840,000 ADC, which means a pool of 5ETH and 4,200,000 will be created.
2. The second part of Genesis Issuance, a total of 10,500,000 ADC, is for Angel Investors who contribute to the growth of Advancer at the early stage. Such portion will be linearly unlocked at a monthly rate of 20%, which is 2,100,000 ADC per month lasting for 5 months. Release of such shares starts before the launch of Genesis Issuance. The exchange rate for angel investors is 1ETH = 42,000 ADC. A total amount of 250ETH is raised for general operation and tech development.
3. At the version 2 of Advancer, DeFi mining will go online where a total number of 184,800,000, taking up 88% of ADC, will be mined. Exact mining schemes are expected to release at the second quarter of 2021.
4. Loophole Fixer is the very portion dedicated to tech co-builders at the Advancer V2. Those who help refine the system will be voted for ADC rewards after the on-lining of Advancer further version.
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