Filecoin Storage Markets Summit 2021, 17 Dec 2020

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From YouTube: Huobi Collateral Loan Markets - Lester Li

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A

uh I'm not study so right now, I'm responsible for the hobby strategy, investment in hobby and I used to also base in london used to run the hobby institutional business for the last two years in london, also yeah and right now.

A

Currently, as we just launched, we we do the hobby file called incubation center and investment fund with protolab, so I'm also responsible for the investment in the final cut, but my talk will basically cover more the from the land inside and I think later tonight, as an at like 9 p.m, something our chief investment officer officer, sharon wu will cover the the investment side. If you are interested how we will invest in firefighting, maybe you could later listen to her talk.

A

So here's my agenda right so uh I'll first talk about uh why hall be good as a company ourselves uh is where I have a good character to be the good landing provider yeah, and then I will talk about how we do the edge field landing server in the device. We also doing the same uh bridge function for the far core yeah. Then we will also talk about how, in the future, we will try to do a file called centralized landing servers.

A

Also yeah yeah so uh easily uh uh go over about what is a hobby guru. I think in case some people don't know we launched a hobby. We are actually a spy string launched in 2013 september. So we are, I think we are the one of the region with the longest history in the asia.

B

A

And then, during the in the past or seven more than seven years, we can doing, we have been continuing operation from afia ching then come to a crypto, crypto exchange and then in 2018 with them we have the biggest ortiz market in the asia and then the derivative exchange, and currently we expand our business to not just exchange. We also have wally mining pool investment fund and a lot of things. I think.

B

A

Quite big and being in the field for really long time, yeah.

A

Yeah, so to keep a more concrete number about us, why we are good for that. I think it's like usually right now, our machine daily is about 21. It will be one to three billion and daily durative money will be free to 10 billion. So we are the in the coin market cap. I think both sides. We are the second biggest in the market yeah, and we have also a lot of traffic on the community.

A

Also, I think, usually our older, our client asset in our hm will usually run up to 10 billion yeah and for our user. Usually we have a reduced user. More than 1950 million and our daily at us usually have around five 150k and a monthly ad user youtube go government, 500k, yeah and some traffic. I think we could show it's like. uh First, we have served client in more than 130 countries.

A

Second, I think we we kind of have a global office uh in more than 15 uh country or area, and you could always find some of the our hobby exchange office in different country and actually we should which them or set up meeting physically in different our office yeah. We can think about. We can mention in china, we have fire office down, including hong kong, and then we have office in korea, japan, uh korea, japan, singapore and london, japan, san francisco, yeah and also middle east in south south america also yeah, and I think globally.

A

Our stretch is quite embracing the recreation also. So we we are one of the 16 licensing in japan, yeah and also in hong kong, singapore. We are applying the license and then then we uh we you all. We have the chibrada dlt license, also yeah and and in us where some msp license and charge license also- and I think we also have the seven-year track record- that no matter wrong exchange, side or landing side. We don't have to don't have a serious hacker issue and I think our total trading one already go beyond 22 trillion.

A

2 trillion dollars. Yeah, finally, we also usually we have for the landing business. We have been running all the crypto landings for few years and usually all right now usually have outstanding, ending, usually around 1 billion u.s dollar yeah. So I we have super sufficient uh operation experience in both the retail institutional landing yeah.

A

So then come back other than the track record. Why we are good to be a landing operator and then we can to work. We do in the file content. So I think, as the beginning, uh asia is the biggest uh minor community for the firecall network yeah. So we find the problem in the beginning is like a lot of the top miner they come to us is like they let off far corn tokens mining, yeah and a lot of them machine financial money machine.

A

We met idle because they don't have enough uh token to deposit and collector and also we find in the market in in the um another size like a lot of phone call token holder. They wish to land out safely, but they worry about people who use the land invention to shorten it. So come to this field problem, uh we we first at the beginning. I think so, one month ago we the first one launched the.

B

A

Bridge also the fiber landing uh in in dirty fiber, I think yeah. So we we believe that as well. The last final entire, it's like a weekly the development program could create a landing market for five car. So that's why we think we could create a firecoin, erc20 token each field and then each field each field will buy one file coin right, and so uh we pretty at least that, will help the lender and broker safely made a deal in the department problem.

B

A

So that's how the process, uh but different from the run field. Our process is more or extreme based. So you really, if you want to have the edge field. First, it's like you depose the file code to our machine uh hope you exchanged and often you need to have a account in hobby chain at the beginning, and then you go to the normally the the token withdrawal page for the file coin and then in that job page you will have two options. You could either withdraw the normal file coin or another one.

A

You can withdraw the hpl yeah. So when you uh we saw the field, it will automatically mean the erc20 token each field. So usually you don't need to wait on something and then after you withdraw your hp to your own wallet address and then you deposit the attribute into the device protocol. Then you do the landing on row, yeah and yeah, and then the market, the player, the people who want the ball they can, after you, depositing.

A

By particle, they could borrow the h fuel in that protocol with the microwave and.

B

A

People have the broader hval if they want to turn it back into far current. They just deposit each field, call into the hobby chain and then withdraw field. Then they get back and then they will use that to collateralize and during the yeah. So basically this is the step-by-step yeah uh uh yeah. Sorry, I did not do the demo, but I just do the slide so so yeah. So this is one of the screenshots like when you see the file coin, you you have the withdrawal function in the virtual function. You can withdraw the h5.

A

There are two options you feel and if you as long as you, withdraw the edge field and put the address amount, you want, will you get.

B

A

Then the spin field is like for inspire. If you go to some protocol, that's the patch field, bro and handy live photo, and then you can see the uh how to deposit and come out also so currently the actual data. I just screenshot few hours ago, it's like, as you can see right now. The api for this uh http landing is like 50 uh 50 and the api is 27 percent.

A

It means uh I mean people borrow borrowing the hp in the annual rate like 27 yeah and there, as you see the market right now in the faulty itself, only the photo. It already have total deposits, like uh uh one yeah, uh uh thirteen thousand hp token there- and I already have like almost nine uh uh borrow line- nine nine thousand- almost there yeah and still have four thousand inventory. So they have a inventory limit. So we can see the huge demand already reaching the 60 percent measurement ltv yeah.

A

So uh I think the market is still uh far have a huge demand for 50 men in the asia community yeah. We we talked to the top player the top mining machine pool in in the in china, asia a lot of them. We still think that at least they have a few hundred.

B

A

Almost will be reaching like 100 million market size in the future. Yeah yeah, I think in the future we will still in the divine land site, will persuade more developers to support the falcon 90. I think yeah and also building on the community like why people is safe to use filecoin to to doing the landing abroad in that device yeah, and we also will continue to be the liquidity provider and how we can make the market have a better way for no matter the banking and landing and the borrowing also yeah.

A

But as we go through the developing environment, we see there's still one problem. They have not saw it's like in the default field. You could not control.

A

Most people borrow the file card into shorting, the file coin token itself right, so we we think about. Okay, could we do a landing server that could only allow people to borrow far coin? They will use for mining they're not used for trading right. If, for that, then, maybe a lot of uh far cry community.

B

A

Player will wish to land out more right.

B

A

I don't think the community we wish to see people borrow a lot of falcons inside and in the chain. So that's why we come to. We also come to the idea that we think we should do the centralized uh landing server for for the file car also yeah.

A

So right now we are kind of preparing for this new uh new platform centralized yeah. So I think we in the future. We will provide a centralized lending platform. We we will create a system that will ensure all the file content out.

A

We will be locked in the uh worker account that will only use for the final command yeah and people can check and see from the on chain data that you know all the factors you land out will only will be collateralized and used for mining new, falcon yeah and in the same time we could be the in the media that all the lander could choose not to take any risk and could also set up the facetime array with us yeah to make all the uh may make all the landing out, much easier yeah and we our chain will be running responsible for all the due diligence and risk control.

A

As we mentioned, we have super large balance sheet and we have super large plr and we have super experience in the past few years, they're running more than one billion centralized landing in crypto assets. So I think oh, we already have the team. We already have those risk control experience, so we we are confident that we are.

A

You could count us on doing this yeah and also from the compliance side. We will also only provide a survey to those countries that is combined with the local recreation. I think uh one key thing is that in most countries we embrace the local recreation, we try to get the license in different country yeah, and so I think that we can also solve another problem in in the inductive we could other rather than the different protocol.

A

We could provide even a larger amount and they are borrowing whether it's like, which, like 100 million or a few million, we still feel quite comfortable about it yeah and we we we have not yet sold the demo for decentralized landing. Usually we will be like uh otc landing so that this service will most basically more uh case-by-case service yeah. I think, in the future come on. We will uh provide more information. We expecting this central island will come out in in q1 just a few months later, yeah.

A

We are still on the project, doing all the paperwork upon all the recreation and comprehension how we decide the paperwork, how we do the dilution with the local miner in the.

B

A

Yeah and how we do the duration, when, if the miner is in different area, also yeah, so I think basically that's the two thing: two landing solution. We think we could how the community to build up the farm car network.

B

A

Yeah and to be honest, it's like it's our main business through the changing business, for when we do the landing reasoning, we more think from the strategic perspective yeah, because the 90 per revenue will not be the key remember for hobby. So we do. This is hopefully cool. We think far coins will kind of be the key portrait for the whole blockchain industry yeah, it's especially from the storage side.

A

So when we come to think uh about the financial side of our ecosystem, we feel that with more potential camera out yeah, but this is more or yeah. So, in the four perspective we think in the future, uh as long as as long as the final product, something better because the financial perspective of a group also, so we we think we, I personally think the this is from before. On the four perspective. Right first, is the trading sites like we believe our?

A

How many more internet and storage us could be traded by this system like in the future. It's so hard to trade, a storage storage place in in the internet and right now we could trade in a descendant of like waste and even token way, yeah and also in the landing from our spring as a one ecosystem going up. First, the token landing market will be become bigger. That's first one. The second one is like in the mining prospecting, a lot of minor mining pool or money uh factory.

A

They will also come out to the landing and burn of those machines, right, collateralize, their machine to borrow more working capital for expanding their pool or just paying their electricity fees. Something like that yeah and there's a more more future thing is like in the future. Maybe they will come over into some market for far cry or something like that, but still we're still saying this will be much along the way and also the derivative size. Like uh we've been we we we have not yet on.

A

uh We believe kind of as the constitutional grow bigger. The relative trading will come to come to also, even though right now is still quite early, but I think, as I become bigger, bigger there, that the derivatives are also naturally come up. Yeah and yeah and the insulin signs are even longer it's like just my personal guessing right now, it's like maybe they will be insurance serving in the fargo system in the future, also yeah, so I don't know. Maybe it's tools are too long or too short. So I think basically in the future.

A

If you have interesting, you could reach me in linking leicester hardly or you could just uh email us in this file called incubation, hobby, dot, com, yeah, and so I think, in the file ecosystem. We both put it in no matter trading yeah. We are exchanging right and then in this landing we also support and also the we have the 10 million file ecosystem investment fund.

A

Also, so I think in the future, no matter you want to do which business you could try, you could reach us and we are happy to support all the falcon ecosystem.

B

A

Yeah, and I also appreciate the time that the community give me to share this info.