Jan 15, 2021
Bloomberg talked to Spirit Stone team: Baccarat’s future planning and layout
Recently, a Bloomberg reporter, Katrina talked to RENE BUEST, a product designer of the Spirit Stone team, to analyze the Baccarat’s next layout and planning comprehensively through Q&A.
The following is a record of the dialogue:
Host Katrina: Welcome RENE BUEST, the product designer of NGK Spirit Stone team, to be a guest at Bloomberg. Many newcomers are still unfamiliar with Baccarat. Can you explain to us?
RENE BUEST: Baccarat is the latest DeFi liquidity mining platform. We can simply understand that users can pledge two tokens at the price calculated by the smart contract. When the user invests funds, it will provide liquidity for the Baccarat contract. If a transaction is generated in the reserve pool, the user has completed liquidity mining and can obtain handling fees and new token mining rewards. All the processes are implemented through decentralized governance protocols, fee income and new token distribution reward models to promote the liquidity transactions.
Host Katrina: Recently, the rise of Bitcoin is undoubtedly one of the hottest topics, but according to observation and analysis, it is found that the general trend of DeFi concept tokens seems to be relatively independent and has not been greatly affected. What do you think is the reason behind this?
RENE BUEST: At present, DeFi accounts for a relatively small proportion of the entire crypto ecosystem. It has been growing steadily since the end of 2017 at US$30 million. The total value of locked assets is now approximately US$17 billion, while the total value of Bitcoin itself is about US$300 billion. Therefore, there is no complete relationship between Bitcoin and DeFi, and the Bitcoin impact on DeFi is not too significant.
RENE BUEST: It can be said with certainty that Bitcoin’s rise will not have any impact on Baccarat. Not only Bitcoin, but also Ethereum. This is because Baccarat is not based on the infrastructure of Ethereum, it is independently built by NGK blockchain with its own underlying architecture. If Baccarat is really affected, it can only be affected by the NGK blockchain.
Moderator Katrina: Recently, Baccarat has completed multiple rounds of internal testing and has went online. What is the purpose of this?
RENE BUEST: NGK is centered on the interests of users, so when it was building Baccarat, the interests of ecological builders are put in the first place. The Baccarat can only discover the problem after one round of closed beta. With that, we can make Baccarat more perfect.
Host Katrina: After Baccarat goes online, what planning and layout will it have?
RENE BUEST: After Baccarat goes online, it will be commercialized in more ecological industries to realize its own value. At the same time, its token BGV will also be launched on many world-renowned exchanges to venture deeper into the secondary market and increase the value of BGV. At that time, more ecological builders will join the BGV mining. Therefore, the NGK project team will continue to improve the NGK wallet to ensure the security of the digital assets for the ecological builders.
