DMEX’s CEO Nurtan Turan: Explore more DeFi functions and construct a prosperous and efficient mining power ecosystem
The past decade has witnessed a rapid explosion of cryptocurrency mining power. The rise of PoW mining promoted by Bitcoin has created a prosperous mining industry with a mature commercial system and user ecosystem. The new addition of DeFi tools will inject more vitality into the mining industry.
Today we are honored to have Nurtan, the CEO of DMEX, to share with DMEX’s Chinese community the latest developments of the DMEX project.
Guest: Nurtan CEO@DMEX
Host: Elvy @DMEX
Topic: Maximize the potential of mining power, explore more DeFi functions and construct a prosperous and efficient mining power ecosystem with DeFi
Time: 2021/06/23 1pm (UTC+1)
Here is a complete recap of the AMA session.
Elvy:
Hello Nurtan, welcome back to the DMEX AMA live stream! It’s 8am in London right? Good morning and thank you for taking the time to talk to our community today. How are you and your team doing in London?
Nurtan:
Hello DMEX fans, long time no see! I’m very glad to be here today. It has been a while since I last participated in the AMAs, I have missed you all. I have been busy working all this time, and now I have so many new insights and project developments that I just cannot wait any longer to share with you all.
The COVID lock-down in London has been repeatedly setting us back, me and our team have been working from home. The DMEX team has been running at full speed as usual, our team even completed several key product feature developments ahead of schedule, thank you DMEX community for your keen interest in DMEX and your continuous support to our project! The past year has been a very special time for all of us, I am grateful for our thriving platform and the over 20,000 strong community we have now, I wish all of you health and great earnings with DMEX in the days ahead.
Elvy：
Thank you Nurtan, please allow me a few moments to translate.
DMEX CEONurtan向DMEX社区的朋友们问好！她和大家说，好久不见，她很高兴今天能够再次来到DMEX直播和大家见面，她很想念DMEX社区的伙伴们。她前段时间工作很忙，现在她有很多这段时间里积累的见解和对未来的规划、迫不及待地想要和大家分享。
英国那边疫情确实挺严重的，反复封城了好几次，她和DMEX伦敦团队的员工都不能出门，只能在家里分布式办公。但是目前来看，团队依然是在正常高速运转，近期团队还提前完成了部分产品功能的开发工作，谢谢DMEX社区的关心和支持！过去这一年是不平凡的一年，Nurtan说她很高兴我们可以在这个特殊时期排除万难建立起DMEX这个新项目并且在全球建立起两万多人的用户社区，她祝福DMEX社区的各位社员都能平安健康，并持续和DMEX一起赚取丰厚的投资回报！
Elvy:
好的，非常感谢Nurtan，那我们接下来正式进入问答环节。有社区成员想问Nurtan，最近DMEX接连上线新产品，想请Nurtan介绍一下目前项目的最新进展。
OK Nurtan, thank you very much for being here. Representing our community, I would like to ask you several questions in the following section of this AMA. Hope you are prepared. First of all, could you please share the newest project progress of DMEX and what are the new products you’ve just released?
Nurtan:
OK. Thanks Elvy. As I mentioned before, The DMEX team has been running at full speed as usual. We’ve been focusing on developing new products to maximize the potential of mining power. As some of you might already find out, we’ve just updated our Dapp to provide a better user experience. We re-categorized our products and re-positioned our most popular products on the front page. The UI looks much cleaner and more self-evident now.
Elvy：
Nurtan刚刚和大家分享了DMEX项目的最新进展。她说最近DMEX团队一直在围绕“释放算力的最大价值”的产品设计理念进行新业务版块的开发。细心的用户可能已经发现了，DMEX首页最近更新了，新页面更加简洁一目了然。团队将用户高频操作的业务置于首页，还重新对业务进行分区，交互上也更加便捷。
Nurtan:
We also launch three new products, the yield aggregator, the iXCH/DMC liquidity mining and the Gas Fee Depot.
In June, we officially launched a brand new yield aggregator in DEMX HUSD-FIL mining pool. Recently, with full respect for our community’s suggestions, we’ve decided to adjust the yield aggregator return. We will repurpose the yield aggregator return to DMC buyback and burn operation so as to reduce DMC circulation and assist the appreciation of DMC. It will also enhance the community’s confidence in DMC’s future value.
Elvy:
Nurtan说团队最近还上线了三个新产品，分别是收益聚合器、iXCH流动性挖矿和Gas补给站。
Nurtan首先介绍了DMEX团队对收益聚合器进行的升级调整。她说本次调整基于社区提出的意见和建议，单币无损挖矿中HUSD池收益聚合器产出的收益，由平台定期回购DMC并销毁，销毁记录同步链上公示。Nurtan说，从长远来看，这次调整将推进整个DMEX生态里的DMC的通缩和稀缺，并由此增强社区对DMC未来价值的信心。
有些社区小伙伴联系我们的客服说不理解DMC销毁活动的原理，这里我们可以请在金融领域有超过20年经验的Nurtan来给我们解释一下。
So Nurtan, can you please briefly explain why buyback and burn is beneficial for DMC?
Nurtan:
DMC was designed to be a deflationary token, it follows the Supply and Demand law. The law stipulates that excess demand can raise the prices of products traded, and excess supply can lower them. The total amount of DMC is constant. Under the circumstance that the DMC demand remains unchanged, a reduction in circulating DMC amount will naturally increase the price of DMC.
At DMEX, we will keep the buy-back and burn operation open and transparent. We sincerely hope through this yield aggregator adjustment, we can further empower DMC. I want DMEX’s users to benefit from the appreciation of DMC.
Elvy：
这里Nurtan给我们简单介绍了一下DMC通缩升值的原理。在一个代币总量恒定的前提下，价值始终遵循由供求关系决定的基本经济规律。一个币在市场上的流通量越少，而交易需求又无巨大变动的情况下，这个币的价值自然会在通缩效应的影响下实现币价增长。DMEX团队会保证整个回购销毁流程的公开透明性。团队希望通过产品上的优化调整，DMEX平台用户都能享受到平台通证DMC的持续赋能与价值通缩带来的收益提升。
Nurtan:
Last week, we officially launched the iXCH/DMC liquidity mining product. This mining product is still in its early and most profitable stage. The APY could reach over 400%. Users like you can participate in iXCH/DMC liquidity mining through simple operation on our updated Dapp.
Elvy：
据Nurtan介绍，DMEX团队最近新上线了iXCH流动性挖矿。iXCH流动性挖矿还处于头矿阶段，目前APY非常高，可以达到400%以上。大家可以进入最新版的DApp首页体验下DMEX的iXCH流动性挖矿产品。
Nurtan:
And our newest product is the Gas Fee Depot. It’s actually my personal favorite. I guess some of you may have already knew and fallen in love with this product. We got the idea of this product from one of our users, who often complained about the lacking of GAS fees. So I told my colleague in the R&D department about this. Then a prototype of the Gas Fee Depot was born. Later, we reached a strategic partnership with Bying Wallet, the digital assets management specialist, to co-launch the Gas Fee Depot. With this product, all DMEX users could obtain DMC & HT airdrops. It a great benefit exclusive to DMEX users. I would urge you all to claim it sooner rather than later.
Elvy：
Nurtan又给大家介绍了平台最新的一款产品，也是她个人最喜欢的一个产品，那便是Gas补给站。可能大家已经提前体验过了并爱上了这款产品。Nurtan说Gas补给站的灵感来源于一位用户，他是DMEX平台的资深用户，经常会遇到Gas费不够的状况。然后，她就把这个问题反馈给平台技术开发团队，于是DMEX的技术团队就做出了Gas补给站的原型。后来，DMEX联合加密资产管理专家，香港百应钱包推出了Gas补给站功能。现在，DMEX社区用户只要符合要求都能免费领取到平台空投的DMC+HT空投，也算给DMEX社区用户的一个专属福利，欢迎大家去体验~
Elvy:
非常感谢Nurtan的回答，那现在我们接着下一个问题。有社区成员问，Gas补给站功能对用户非常友好，如果其他社区想与DMEX合作，这个可以实现吗？
Thank you Nurtan, our users already love the Gas Fee Depot. Now they are eager to know whether DMEX has plans to cooperate with other communities to provide more users benefits.
Nurtan:
Yes of course. We very much look forward to collaborating with other communities and to build an open and diversified cryptocurrency ecosystem. The Gas Fee Depot is an automated tool. It links centralized communities with decentralized applications. It helps unite diversified communities and promote user interactions. We welcome more communities to join us.
Elvy：
Nurtan热烈欢迎其他社区和DMEX对接合作，共同致力于打造一个更加开放多元的生态。她说Gas补给站是一个将中心化社区与去中心化应用无缝链接的工具，而且全程都是自动化完成的，对于社区管理与用户依存度都有正向积极的影响。DMEX欢迎更多社区加入使用Gas补给站，这样可以让更多用户获得免费的Gas补给。
Elvy:
Thank you for sharing with us the three key product updates. Many of our community users are also wondering if DMEX has any new plans for the next few months, according to previous road map, should we be expecting a DeFi loan service soon?
Nurtan:
Yes that is correct. We plan to launch the “Filecoin collateral loan” business in early July, the technical development work is in steady progress. Soon, DMEX users will be able to pledge their Filecoin mining power NFTs as collateral to earn a lender’s income or borrow Filecoin tokens.
One of the key advantages of our Filecoin collateral loan product is that, the pledged Filecoin mining NFTs can continue to generate mining income for the duration of the loan period, meaning that pledging your Filecoin mining power NFTs as collateral does not reduce your original mining income in any way. Therefore, for our DMEX users, the earning potential of their Filecoin mining power NFT is greatly exploited, all DMEX users will be able to maximize their mining income with this new DeFi collateral loan product.
Moreover, the borrowers are free to make full use of their borrowed Filecoin by reinvesting the borrowed Filecoin back to mining so as to earn even greater compounded incomes. When designing this product, we are really determined to tackle the liquidity challenge of the mining business and release the locked economic value of mining power.
Elvy:
Thank you Nurtan! I will explain these details to our DMEX fans.
CEO Nurtan刚才给我们详细地介绍了我们最新的FIL质押借贷产品，现在我来给大家翻译总结一下。
首先Nurtan跟我们肯定了DMEX的产品计划的确是准备在7月上旬上线“FIL质押借贷”业务，目前技术开发工作正在有序进行中。“FIL质押借贷”是我们在算力NFT赛道上的又一次探索，很快，DMEX的用户就将可以质押自己的FIL算力NFT来获得质押收益或获得FIL贷款。
Nurtan首先介绍了我们的“FIL质押借贷”的一大优势是，用户质押的FIL算力NFT在参与质押期间还能继续参与挖矿，完全不影响用户正常挖矿收益。对于用户来说，FIL算力NFT得到最大化利用，持有同样数量的算力NFT用户现在有这个选择可以获得更多收入。
Nurtan还介绍了DMEX这个“FIL质押借贷”的第二个亮点是，在规定的归还期限内，用户可以自由支配贷出的FIL，比如说将这个贷款复投到FIL挖矿中来赚取更多复利。Nurtan说在设计这个质押借贷地时候，项目方是真的很用心地想要解决算力资产流动性差的问题，从而最大限度地释放DMEX用户手里的算力NFT的经济价值。
Elvy:
好的，那现在我们进入下一个问题吧，这个问题也是来自于昨天中文社区的热心用户。
So, Nurtan, we can see that the coming Filecoin collateral loan product is really a brilliant idea, we can hardly wait to see it coming online! Now let’s move on to the next question from the DMEX Chinese community. Some people are wondering, with the emergence of numerous new projects in the distributed storage industry, besides Filecoin, will DMEX introduce more mining power NFT products for other cryptocurrencies?
Nurtan:
Indeed, within the distributed storage industry there have been several strong newcomers lately. In my opinion this is a good thing as good competition is always beneficial for all participants, competition can facilitate and improve the practical application of our technology.
According to the data from the blockchain browser, the amount of effective mining power and the number of miners across the entire Filecoin network are still steadily increasing, this proves that mainstream users are still very optimistic about Filecoin. From my personal point of view, I am more optimistic about its development in the next 3–5 years. At present, the entry barrier to FIL mining is too high and the whole mining procedures are not friendly enough for the average investors, hence our original vision when establishing DMEX is to allow each and every average user to participate in crypto mining with zero entry barrier and earn a stable mining income with ease.
Of course, while we will keep improving our current product line, we definitely will continue to add new mining power NFT products to enrich our ecosystem. In recent months we have released several batches of Chia mining power NFTs and they were selling so fast that most batches sold out within seconds upon release. The bottom line is, please stay tuned to our platform news for more great opportunities!
Elvy：
Thank you Nurtan for the detailed response! I will translate these information to our DMEX fans.
Nurtan说，的确现在分布式存储赛道不再是Filecoin一家独大的局面，但是在她看来这是好事，毕竟有竞争、才会有进步、才会推动技术落地应用的步伐。
Nurtan说从区块浏览器反馈的数据来看，目前Filecoin全网有效算力和矿工数量都是稳中有升的，也证明主流用户还是非常看好Filecoin的。从她个人的较低来说，她还是比较看好Filecoin未来3–5年的发展，而目前来说，FIL挖矿入门门槛太高，对大众投资者不够友好，我们建立DMEX的初衷就是想让大众投资者可以0门槛参与挖矿，享受算力挖矿带来的稳定收入红利。
当然，Nurtan说DMEX在做好现有业务的同时，也会引入新的算力NFT产品，这些也都在DMEX的产品规划之中。最近几个月我们发售了好几批非常抢手的Chia算力NFT，有些批次的Chia算力甚至在发售后几十秒，还不到一分钟就售罄了。总之，Nurtan说欢迎大家多多关注DMEX的社区动态
Elvy：
感谢Nurtan非常坦诚的分享！让我们再来看看下一个社区用户问题。最近，受政策影响中国部分地区的矿场关闭，这对DMEX平台有影响吗？
Thank you Nurtan! Now let’s move on to the next question from our community fans! In recent weeks, due to the new policy from the Chinese government, many Chinese mining farms are closed. Does this have an impact on the DMEX platform?
Nurtan:
Yes, about this, I’m also following the news closely. I understand the community’s concern. However DMEX users need not to worry at all, our mining power NFT products are absolutely safe and we will not be affected by these changes at all. Firstly, DMEX only works with the most competent mining power providers. Our mining power NFTs are provided by IPFSMain, IPFS Union and NonEntropy, they are the leading mining power vendors in the industry and they have been known for their reliability. Secondly, DMEX’s mining power NFTs are guaranteed to be fully sealed effective mining power. All mining power information is uploaded to the blockchain so that every piece of data is fully transparent and verifiable. This provides excellent security for our users. Again, the DMEX platform is built to lower the entry barrier for the average users, improve the capital utilization rate for the mining machine sellers, and increase the value of idle assets for the miners. DMEX is building a strong community of shared interests, shared risks, and shared mining incomes for mining machine sellers, miners, and users.
On the other hand, both Filecoin and Chia are designed to be energy-saving and environmentally friendly. Take Filecoin as an example, the energy consumption of the Filecoin mining process is nearly negligible. Moreover, IPFS is a very practical technology with practical application values. This is also the biggest difference between Filecoin and other crypto assets with no real applications.
The bottom line is, DMEX has always set security as our top priority since the very beginning. At present, what we want to do is to build a prosperous and efficient mining power ecosystem by providing more DeFi functions.
Elvy:
Thank you Nurtan for the detailed response! I will translate these information to our DMEX fans.
Nurtan说，这个消息她也看到了，不过DMEX平台用户完全不用担心，DMEX的算力NFT产品是安全的、不会受此次中国政策变动影响。首先，DMEX只和最靠谱的矿商合作，我们对接是星际大陆、星际联盟和逆熵科技这三大优质矿商，这都是可靠的资源。第二，Nurtan说了，DMEX上线的都是满存算力NFT，一切算力信息全部上链，完全透明可查，这就从源头保证了DMEX算力的安全性。Nurtan在此希望再次和大家强调，她建立DMEX的愿景就是为了降低普通用户参与挖低投资门槛，为矿商提高挖矿资金利用效率，为矿工释放沉淀资产价值。将矿商、用户、矿工形成一个风险共担，共享挖矿红利的利益共同体。
另外，Nurtan还说了，DMEX平台上线的Filecoin和Chia算力产品均为节能环保的挖矿项目。就拿Filecoin来说，它挖矿过程中消耗的电量低到可以忽略不计。除此之外，IPFS是一有实际落地应用的实用技术。这也是FIL和其他加密资产最大的区别。DMEX在创立之初就将安全置于最高优先级，在现在这个市场环境下，DMEX要做的就是坚持依托DeFi功能拓展构建一个繁荣高效的算力生态体系。
Elvy：
非常感谢DMEX CEO Nurtan的精彩分享，让我们了解到项目的最新动态。由于时间的关系，本次在线直播不得不暂时告一段落了~如果大家还有其他疑问，可以在直播结束后进入DMEX官方社区继续交流讨论
Nurtan:
Thank you DMEX community, it’s a great pleasure to be here today. I’m very proud that I have such a strong team and such a lovely community here. Till we meet again!
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