Overview of HUB Interview by Cointelegraph China
On January 28, Cointelegraph China hosted an online interview session under its HUB series, focusing on Huobi Eco Chain (HECO) and its seed-stage DeFi projects. Key participants included:
- Jason, Core Developer at LendHub
- Jimmy, Core Community Member of Basis Gold
- Leo, Global Community Representative of SOVI.Finance
- Sky, CTO of Mdex
The discussion revolved around project backgrounds, reasons for choosing HECO, and future roadmaps.
Key Takeaways from the Experts
🚀 Jason on DeFi Lending
"DeFi's popularity stems from its ability to address core financial needs—borrowing and lending—without intermediaries. This lowers entry barriers and boosts efficiency. The lending market has immense potential."
🌟 Jimmy on HECO’s Advantages
"Huobi’s user base primarily trades spot markets, making it ideal for DeFi adoption. HECO’s low-cost chain leverages Huobi’s traffic, aligning with this year’s dual牛市 themes: institutional Bitcoin investment and DeFi growth."
🎮 Leo on NFT Gaming Innovations
"SOVI.Finance merges NFT assets with GameFi mechanics. Our strategy games adapt to blockchain’s limitations while ensuring player engagement through dynamic storylines and community-driven liquidity mining."
💡 Sky on User Accessibility
"HECO slashes learning costs for beginners. While Ethereum fees can hit $10–50 per transaction, HECO charges pennies, democratizing DeFi access."
Deep Dive into Featured Projects
1. Mdex: HECO’s Flagship DEX
- Dual-Chain Model: Combines HECO’s low fees with Ethereum’s liquidity.
Mining Strategies:
- Liquidity Mining: Rewards providers with MDEX tokens.
- Trade Mining: Compensates traders for slippage losses.
TVL: $900M+ within weeks, showcasing market confidence.
👉 Explore Mdex’s innovative dual-chain model
2. LendHub: HECO’s Leading Lending Platform
- Achieved $200M TVL in 72 hours post-launch.
Success Factors:
- Compound-inspired model.
- Near-zero transaction fees vs. Ethereum’s $5–50.
- Rigorous security audits.
3. SOVI.Finance: NFT Gaming Frontier
- Why HECO? Faster transactions, minimal fees (~$0.01), and Huobi’s ecosystem support.
- Upcoming: Liquidity mining (Q1 2024) → NFT game integration with evolving storylines.
4. Basis Gold: Algorithmic Stablecoin
- Mechanism: Uses BAG, BAGB, and BAGS to stabilize prices algorithmically.
- Future Goal: Become HECO’s benchmark stablecoin alongside USDT and DAI.
HECO’s Broader Impact on DeFi
✅ Opportunities
- Lower Barriers: Fractional costs attract retail users.
- Developer Incentives: Grants and incubators spur innovation.
⚠️ Challenges
- Centralization Concerns: HT-backed assets vs. decentralized ideals.
- Cross-Chain Integration: Competing ecosystems demand interoperable solutions.
FAQs
❓ Why did projects choose HECO over Ethereum?
- Cost Efficiency: HECO transactions cost <$0.01 vs. Ethereum’s $30+.
- Speed: Sub-second block intervals enhance UX.
❓ How does HECO benefit new users?
- Simplified Onboarding: Beginners can experiment without high financial stakes.
❓ What’s next for HECO’s DeFi ecosystem?
- DAO Governance: Projects like Mdex shifting to community-driven models.
- Cross-Chain Expansions: Bridging liquidity between HECO and Ethereum.
👉 Discover how HECO is reshaping DeFi
Final Thoughts
HECO’s fusion of low fees, scalability, and Huobi’s ecosystem positions it as a formidable DeFi contender. While challenges like decentralization persist, its potential to onboard millions into blockchain finance is undeniable.