aelf COO Chen Zhuling speaks on DeFi

This article was first published on Stories by ælf on Medium

Vernacular Blockchain Interview

In the past few months, everyone in the blockchain industry has been talking about DeFi. The arrival of DeFi has excited many people, yet some people say it is just a super bubble. Nevertheless, it did bring a lot of innovation to the entire blockchain ecosystem, but there are also some problems. So, how did DeFi go viral? What practical use does DeFi have? What can platforms and projects do specifically for DeFi? With these questions, COO and co-founder of aelf Chen Zhuling accepted an interview with Vernacular Blockchain. Let’s see what he said.

Question 1: What positive influence did DeFi bring to your current product (project)?

Chen Zhuling: DeFi has natural competitive advantages over the traditional financial system, such as custody-free security, convenient peer-to-peer transactions, and so on. Any DeFi innovation is dependent on strong technical strength, which is why we chose to quickly launch a DeFi project-Sashimi on Ethereum. Relying on the team’s accumulated experience in the development of aelf and AESwap, we quickly deployed Sashimi’s trading functions, liquidity mining functions, etc. A decentralized trading platform with high liquidity and high returns has been established, where users can smoothly purchase tokens. In the first two days of its launch, Sashimi has recovered 500 million US dollars of liquidity for Uniswap.

Sashimi just released version 2.0, which added many functions such as asset management. SashimiSwap Investment is the first contract that maximizes the use of funds in the trading pool. This contract will invest 90% of the funds in the trading pool through different DeFi products, allowing these idle assets to enter a safe financial market and earn higher returns for liquidity providers. This is something that other DEX products cannot do. It can be said that Sashimi 2.0 is an innovation of DEX products and ...

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