HOGT Starts the New Journey of DeFi
How DeFi is different from traditional finance
There’s one word that I can say about DeFi (decentralized finance) is bright future is coimg on its way.
Why would I say that ? The key point of that is open-source. The decentralized chain is able to complete all the functions of lending, mortgage, transaction, etc., it does not require the intervention of a centralized market(bank), and it solves various problems that cannot be done in traditional financial CeFi.
For instance, if the price difference is made by middleman, the natural barriers between states and institutions, even corruption caused by human factors is still happening. all of these will not happen in decentralized financial(DeFi).
Moreover, we can see something from the historical figures that DeFi appeared in 2019 and flourished in 2020. Especially in Q3 and Q4 of 2020, the entire DeFi mortgaged assets on the chain have been increasing. A set of data shows that DeFi mortgaged assets at the end of 2020 are about 500 million U.S. dollars, and as of May 21, on public chains represented by Ethereum, Huobi ecological chain, etc., DeFi mortgaged assets have exceeded 50 billion U.S. dollars. More and more assets on the chain reflect an indisputable fact: DeFi’s future prospects are very bright.
The advantages of DeFi
Unlike the traditional finance, DeFi doesn’t have over high fees, unfair terms or finicial exclusion. In contrary, it is a movement aimed at providing financial services to everyone. Based the current development trend, although DeFi seems to subvert traditional finance, In additon, DeFi is more appeallig to users who have sufficient knowledge of the cryptocurrency market. For almost other users, there’s still no practical tutorials on how to prepare for these new financial opportunities. Current market guides tend to assume that users already know the details of cryptocurrencies, but this is usually not the case for most occasions. There are many people who “The blind man feels an elephant — to take a part for the whole;” and “see the leopard in a tube”.
Education on DeFi
Some publications on DeFi content pointed out that throughout 2020 and early 2021, the popularization of DeFi and other financial knowledge has indeed increased significantly. These educational platforms set a very good goal for DeFi-by the end of 2025, another 100 million people will deposit at least $1 in cryptocurrency in decentralized financial institutions. This may seem easy, but it is not easy to convince millions of people to join the industry. In general, many people still won’t believe in cryptocurrency, and they feel the same about DeFi as well. Realistic factors such as the high cost of user education make DeFi education even worse.
As finicial practitioners, we have to admit that the problems must be solved and that’s the esstional and important priority for us. If we want the public to deeply understand the financial principles of DeFi, what we need is clear and concise education. And how can these users quickly understand it? “Talking on paper” is obviously not enough, and teaching by example is the best way. This is what the OGT global offline communities have been doing so far.
The actons that have been taken
From launch conference in November 2020 to Thousand People Forum in 2021, OGT has gone through the entrepreneurial process by 100 cities and road shows that have been done and 100 offline conferences in ten major areas in China, an offline studio nationwide evangelism. Today, OGT’s footsteps are spread across every blockchain city in the country. With the strong execution of community members, OGT has created the strongest local pusher of the blockchain. Within just half a year, OGT has generated nearly 1,000 nodes, has 100,000+ offline users, 100+ offline communities, 1 million+ online traffic, 40,000+ effective miners…
In the future, HOGT will open up a brand new era for DeFi and multi-dimensional application platform in 3 phase: phase 1-decentralized moblie mining; phase 2-decentralized lending; phase 3-global Dex encrypted finance service network. In the face of such a big opportunity and wealth of the times, each of us is a witness, participant and promoter of history, and together, in HOGT, we even have the opportunity to become the creator and leader of this period of history. In the new era, HOGT will still keep a strong pace of development, lead more than 40,000 users with strong consensus, and start a new journey to the DeFi track!