Their experience of development of a large number of blockchain clients such as Bitcoin, Ethereum and Zcash, etc. SporeOcean can decrease lots of repetitive work on the basis of Substrate.
SporeOcean is developed based on Substrate, and linked to Polkadot ecology as a parachain with inherent interoperability and scalability. This will flexibly adapt to various business scenarios within the ecology in the future and there will be no split Runtime updates. Substrate greatly reduces the development cycle and process of the SporeOceDilemma and Opportunity
DeFi needs new blood and power
Even though the total value locked in the DeFi ecosystem surpassed USD 100 billion for the first time in 2021, which is equivalent to the 40th largest bank in the US (ranked by assets), the cooling down of the market can be apparently seen. The price of mining coins has declined and APY has returned to the reasonable range.
When a large number of codes are copied, pasted and split, and the same model carries out barbaric migration among different public chain ecosystem, the short-term craze of gathering people because of fluid mining has come to an end temporarily, and the short-term irrational prosperity guided by the "doll model" requires new blood and power for self-restoring and readiness to take actions.
DeFi is still only the tip of the iceberg. Breaking the circle and make collisions is exactly true explosive Big Bang.
The crypto ecosystem is increasing significantly. As a newly-emerging force in the global financial system, DeFi is rising rapidly. However, the application and innovation of DeFi at the moment is still only the tip of the iceberg for the global crypto financial market. Only under the circumstance that there are practical use cases of cryptocurrency, will there be large-scale adoption and high-value transaction, ushering the real breaking-circle explosion of the crypto ecology. With the continuous improvement of the infrastructure in the field of encryption, the new generation of decentralized financial protocol is bound to embrace trillions of real-world assets, bridge traditional finance so that DeFi is able to walk out of the niche crypto circle and thus it can greatly extend the potential boundary of DeFi.
When a greatly innovative encryption project succeeds to incorporate real-world assets into the WEB 3.0 crypto ecosystem, the asset scale of the DeFi world at present seems to be inconsiderable if we look back.
The Rise of SporeOcean
SporeOcean is the next-generation decentralized financial network developed on the basis Substrate. SporeOcean attempts to adopt the distinctions of DeFi and NFT to chain and scale the real-world asset mapping token and empower a series of innovative encrypted financial products so as to open the gate for traditional finance, thus allow new capital to flow into the WEB 3.0 crypto ecosystem.
Comply with favorable timing; Draw support from geographic advantages; Make the unity of the people
Favorable timing --- SporeOcean is rising abruptly with great strength, leading the next phase of decentralized finance and bringing new twilight to the encryption industry.
Reviewing the exponential increase of the total value locked (TVL) in the DeFi in 2020, it is almost unbelievable. This has not only attracted the attention of native users in the encryption industry, but also attracted the attention of a wider range of enthusiasts outside the industry. Besides DeFi, the rapid iteration and prosperity of Polkadot technology and the tokenization of real-world assets have laid the foundation for the development of basic protocol of the new generation of decentralized finance.
SporeOcean was launched under such context and it precisely conforms with the timing, and has grasped the best time to of circle-breaking of the crypto ecosystem.
Geographical advantages --- The Polkadot ecology keeps a low profile for explosion. Substrate provides soil for the development of large-scale application parachains.
Substrate development framework is a set of blockchain essence abstracted by the Polkadot development team based on an team to save manpower, material resources, and time. Moreover, the new function of Substrate 2.0 version, that is, off-chain working machine can integrate data into the blockchain safely, which precisely fulfills the demand of SporeOcean for introducing real-world assets on the chain.
The unity of the people
The founder team of SporeOcean consists of PhDs from Stanford University, Yale University and Massachusetts Institute of Technology. The kernel members have worked for Google, Oracle and JP Morgan, etc. Over 80% of the team members have MA degree or PhD degree. There are many technicians with more than ten years of development experience and developers of Ethereum at the early stage.
SporeOcean encourages team members to give play to their ownership and creates an innovative and peaceful working environment. In this way, it has helped team members promote their capacity in many aspects and facilitated the development of SporeOcean. When you are able to help people become a better version of themselves, I believe there is no better incentive than this.
If suitable development space is offered for talented and motivated people, the exponential increase of the project will only be a by-product.
Favorable timing, geographic advantages and the unity of the people are the indispensible and essential elements for the success of a project. SporeOcean has all of them and the momentum is booming.
From the perspective of business logic, SporeOcean's positioning is to map the traditional structured financing business to the blockchain ecosystem through new technology, and replace the traditional business process with a series of "NFT + DeFi" technologies for "asset tokenization".
The business logic of SporeOcean is to achieve structured financing in a decentralized way. It replaces some complicated business chains such as packaged SPV, asset management channels, structured layering and capital connection, etc. with DeFi, and it makes full use of the capital pool feature of DeFi to transform point-to-point P2P transactions into point-to-pool transactions, thus has altered risk management structure and promoted the efficiency of capital matching.
Development Status and Future
SporeOcean is favored by institutions in terms of investment background due to its excellent technical solutions and founding team. At the beginning of February 2021, SporeOcean has completed the seed stage financing. Investors include Animoca Brands, 500 Startups, Andreessen Horowitz, Winklevoss Capital, Breyer Labs, Cambrial Capital,Kindred Ventures, Signal Ventures, CryptoQuant Venture, HighVentures, startVC Capital; institutional private placement rounds have completed tens of millions of financing from 10 Russian investment companies, including ООО «НКГ Инжиниринг», ООО ИК «КьюБиЭф», ООО «Откере» , ООО УК «Альфа-Капитал», АО «Тинькофф Банк», ООО «Компания Брокеркредитсервис», «ОсО ИнК Фрис», ОсО Оив «АОх Оив» Оив «АОх Оив», ОиО ИнК «Альфа-Капитал».
DAO community Level
At the moment, SporeOcean has established offline communities in more than 30 cities of 10 countries (the US, China, India, Japan, South Korea, the UK, Canada, Germany, Singapore, and Russia), and has quickly built its image all over the world and attracted a certain number of seed users, This can be considered as a wonderful cold start.
Online SporeOcean has started the hacker growth plan. It opened new media community channels such as Twitter, Medium, Reddit, Discord, multilingual Telegram, Facebook, etc. to link users all over the world so that they can get a closer look at SporeOcean, have the opportunity to participate in the project and then share the dividend of the project development.
Token supply and distribution
The token symbol of SporeOcean is SPOC, and the total supply amount of the token is 1 billion SPOCs.
The reward algorithm of SPOC holders introduces difficulty adjustment and reward reduction mechanism in order to encourage real demands for use and maintain the long-term stability of the system. In order to develop users' interest in SPOC and anchor its intrinsic value, certain Gas fee and service fee will be charged for service invocations. Gas fee will be automatically priced according to the network usage, while service fee will be priced by service providers. The fees may be destroyed after summarization to guarantee the stability of SPOC value.
Product and technology
SporeOcean is now migrating key modular components to Substrate to extend the validator ecosystem. It will apply for Web 3 Open Grants, participates in Polkadot slot auction, wallet and block browser integration, and SDK module development.
Only by developing products constantly and guiding and attracting users, can the sustainable development of high-quality projects be guaranteed. SporeOcean will soon launch the Global Hacker Development Conference to link global hackers, cypherpunks and open source developers closely and accelerate project iteration progress so as to complete the launch of main network.
The greatest highlight of SporeOcean is to innovate continuously, to develop sets of financial products and to create value for communities. Our purpose is to build an ecosystem that will be scaled and popularized in the next decade.
Different from the native DeFi market, the real-world asset mapping token of SporeOcean is substantially the introduction of a brand-new type of credits which completely differ from current native blockchain assets. With the assistance of NFT & DeFi, it has also created a new kind of asset products and provided DeFi users with a richer selection of on-chain assets.
In the traditional financial market, high-quality assets usually have higher threshold requirements for investors. However, assets can flow like water through SporeOcean and ordinary people are able to acquire the income dividend of the structured financing market with no thresholds. Such investment opportunity will also further improve the market penetration level of DeFi, and attract more users to participate in the DeFi market, thereby facilitating the expansion of the DeFi debt side and achieving the expansion of the overall DeFi balance sheet.
SporeOcean empower the new generation of DeFi agreements to provide the market with the most reputable and efficient path to leverage so as to further release the credit expansion potential of current DeFi ecosystem and find more new basic assets that can expand credit circulation, which is actually the next high ecological opportunity for DeFi.
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