# PROXI.WIKI
# ABOUT PROXI
## **About DeFi**
According to Consensys, “DeFi (Decentralized Finance) refers to the economic paradigm shift enabled by decentralized technologies, particularly blockchain networks. From peer-to-peer payment systems to automated loans to USD-pegged stablecoins, DeFi has emerged as one of the most active sectors in the blockchain space, with a range of use cases for developers, individuals, and institutions.”
### Top 5 DeFi List
| Name | Brief Introduction |
| ----------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------- |
| [MakerDAO](https://makerdao.com/) | MakerDAO is a decentralized credit platform on Ethereum that supports Dai, a stablecoin whose value is pegged to USD. |
| [Compound](https://wiki.proxidefi.com/www.compound.finance) | Compound is an algorithmic money market protocol on Ethereum that lets users earn interest or borrow assets against collateral. |
| [Aave](https://wiki.proxidefi.com/www.aave.com) | Aave is an open source non-custodial protocol on Ethereum for decentralized lending and borrowing. |
| [Synthetix](https://wiki.proxidefi.com/www.synthetix.io) | Synthetix is a decentralized platform on Ethereum for the creation of Synths: on-chain synthetic assets that track the value of real-world assets. |
| [InstaDApp](https://instadapp.io/) | InstaDApp is a smart wallet with an intuitive interface built on top of popular DeFi projects like MakerDAO, Compound, Uniswap, etc. for managing assets. |
## **Market Opportunity**
DeFi has become the most promising growth area in the crypto industry. The amount of ETH locked in DeFi has been following an net-upward trend since mid-2019. In June 2020, Compound released its COMP governance token,releasing a complex yet highly lucrative mechanism known as Yield Farming. According to the data tracker website [DeFi Pulse](https://defipulse.com/), the impact of the Yield Farming Frenzy on the Total Value Locked(USD) in DeFi has been tremendous, causing the TVL to reach an all-time-high of $3.03B. However, DeFi is still in its early stage, lacking sophisticated, valuable derivatives and Credit-based leverage tools to allow the investors to achieve the maximum amount of interests and yet pump up liquidity to the crypto world.
## **About PROXI**
PROXI is DeFi 2.0 for Cross Chain Derivative Issuance and Credit Lending. PROXI provides the smartest way to invest derivative assets and earn interests with credit-based high leverage tools through the decentralized secure protocol.
The mission of PROXI is to build a one-stop platform for cross-chain multi-asset collateral service, Credit-based lending, derivative issuance, trading and asset management in the DeFi area, providing users with revolutionary, decentralized, and risk-minimized financial products.
### **Key Highlights**
* Cross-chain Interoperability
* Infinite Liquidity
* Decentralized Multi-asset Collateral Pool
* Credit-based high leverage tools
* Limitless Derivative Issuance
* Ideal Risk Management
### **Ecosystem**
PROXI is aiming to build an open, sustainable and profitable DeFi ecosystem based on the existing infrastructure, including:
* POS-based Blockchain, such as Binance Chain, COSMOS, Polkadot, Tezos, TRON.
* Staking-based Applications, such as MakerDAO, InstaDApp, Compound.
* Real Asset Tokenizations, such as Polymath, Securitize, Swarm.
* DEXs & Markets, such as Uniswap, Balancer, Bancor, Kyber Network, IDEX.
* Oracles & Predictions, such as Chainlink, Augur, Band Protocol, Gnosis.
* Wallets, such as Enjin, Brave, Imtoken, Trust Wallet, Jaxx.
### PROXI Labs
PROXI Labs is the venture branch of PROXI Foundation, powering the DeFi’s research and existing to grow the blockchain and crypto infrastructure. With leading backgrounds in the diverse industries, including J.P. Morgan, HSBC and Accenture, the council of PROXI Labs has been nurturing the most promising application scenarios for Open Finance.
# PROXI TOKENSALE
CREDIT will be the utility token and PROXI will be the governance token. CREDIT will be issued soon via a series of Token Sale through multiple channels. CREDIT acts as the medium of payment and gas fees or commissions in the process of on-chain transaction, credit lending, asset issuance, trading, and other similar services. Fees will be partially burned, and partially extracted to the Collateral Pool as the Stabilization Fund to hedge the market risk.
| **Project Name** | **PROXI** |
| ------------------- | ------------------ |
| Token Ticker | CREDIT |
| Token Standard | ERC-20 |
| Project Valuation | $20,000,000 USDT |
| Token Total Supply | 100,000,000 CREDIT |
| Initial Token Price | $0.2 USDT |
**Token Sale Allocation**
| **Round** | **Community** | DEX | Strategic Investors |
| ---------------- | ------------- | ------------- | ------------------- |
| Price | $0.2 | Auction | TBD |
| Tokens | 1,500,000 | 500,000 | 3,000,000 |
| Amount | 300,000 USDT | 125,000+ USDT | TBD |
| Total Allocation | 1.5% | 0.5% | 3% |
**Token Distribution**
An overview of how we plan to allocate our vesting is broken down below:
| Token Allocation | % | Vesting |
| ---------------- | --- | ------------------------------------------------------------------------------------------------- |
| Token Sale | 5% | No Lockup |
| Team & Advisors | 15% | 2-year vesting period prior to the listing, vest 1/5th of its CREDIT tokens every six months. |
| Foundation | 15% | 4-year vesting period prior to the listing, vest 1/10th of its CREDIT tokens every six months. |
| Ecosystem | 15% | 4-year vesting period prior to the listing, vest 1/10th of its CREDIT tokens every six months. |
| Yield Farming | 50% | 4-year vesting period starting from the MVP launch, vest 1/50th of its CREDIT tokens every month. |
**Token Release Schedule**
# PROXI TECHNOLOGY
## Overview
Below is the overall full-stack blockchain architecture of PROXI, which contains four core modules, namely, Interoperability Layer, Decentralized Multi-asset Collateral Pool, Module for Credit Lending with High Leverage, and the Derivative Issuance and Trading Module.
* **Interoperability Layer**\
PROXI supports the decentralized multi-asset collateral and the issuance of synthetic assets based on multiple assets. In order to improve the user experience and increase the user adoption, PROXI is open to all fundamental cross-chain solutions such as Polkadot and COSMOS to accelerate the security,scalability and flexibility.
* **Decentralized Multi-asset Collateral Pool**\
PROXI supports the multi-asset collateral service in a permission-less and decentralized manner. Users can lock in the supported assets such as ETH and DAI to issue the synthetic assets such as bonds and earn the most high interests on deposits & borrow assets.
* **Credit Lending with High Leverage**\
PROXI is an decentralized, credit-based leverage protocol built for investors, enabling the most high interest on deposits & borrow assets.Users can lock in supported assets (such as ETH) in collateral to earn interests and borrow assets with a variable leverage. Users can borrow up to 50-200% of their xToken’s value according to their Reputation(refer to the amount of native token CREDIT) in PROXI.
* **Derivative Issuance and Trading**\
PROXI supports the issuance, trading and management of synthetic assets with the collateral of supported assets. Users can issue the customized derivative assets such as bonds to trade or raise funds in a decentralized way.
## **Products**
Core components of PROXI include:
* **Asset-backed Synthetic Issuance**\
PROXI provides convenient tools for users to issue sophisticated derivatives assets and trade through swap protocol based on CREDIT Token.
* **Credit-based P2P Lending**\
Profit from derivatives is based on your own lending or borrowing, all backed by smart contracts and transparent rates. Users could lock in supported assets(such as ETH) to achieve the maximum amount of leverage between 0-200% with the additional Reputation assets-CREDIT Token.
* **Portfolio Dashboard**\
Users can pick and choose your risk profile in each sector. Allocate across different sectors and derivative financial products while managing investment portfolios in real-time.
## **Technical Analysis and Advantages**
**1.PROXI is a DeFi platform – Much more than just another staking protocol**
* Beyond staking, PROXI offers cross-chain interoperability,Multi-asset Collateral Pool, and derivative issuance.
* In addition, it offers access to P2P lending and margin, and a unique portfolio dashboard.
**2.Create synthetic assets whose risk volatility can trade in real-time**
* Many other DeFi protocols are simple tools to tie people’s assets together. If even 1% of the price decreases, liquidation could occur. Users need to add funds to protect their position when the price decreases.
**3.Users can choose risk/reward level**
* Pick and choose your risk profile and track ROI in each sector.
* More suitable for institutional investors.
* Allocate across different synthetic asset classes and derivative financial products.
# PROXI TOKENOMICS
## **General**
Within the ecosystem of PROXI, there are two tokens functioning for different features respectively. CREDIT will be the utility token and PROXI will be the governance token. CREDIT will be issued soon via a series of Token Sale through multiple channels. CREDIT acts as the medium of payment and gas fees or commissions in the process of on-chain transaction, credit lending, asset issuance, trading, and other similar services. Fees will be partially burned, and partially extracted to the Collateral Pool as the Stabilization Fund to hedge the market risk.
CREDIT is the capped supply ERC-20 token widely used on the PROXI platform. CREDIT tokens are utility tokens designed to be the key indicators of users’ credit and to ensure the deposit and staking of digital assets being used as smart contract locked collateral for value transfers. Also, CREDIT will be the main collateral locked in a staking contract, enabling the issuance of synthetic assets on PROXI platform. Value for CREDIT token holders will increase as demand for multi-collateral would grow and transfer volumes increase with the massive adoption of PROXI originated synthetic assets. Fees for all sorts of operations on the platform are paid out in CREDIT through burning, thus increasing the scarcity of CREDIT for all token holders.
The CREDIT token is a capped supply token which is set at 100M tokens. Within the total supply there will be a liquidity mining incentive pool(so-called Yield Farming) and the fees for various operations will be burned.
The CREDIT token’s utility lies in its double feature as both collateral and as an entrance requirement to the PROXI Ecosystem. Each use of the PROXI protocol stacks starts with the deposit and lock-up of digital assets and the issuance of credit and other collateral backed synthetic assets by engaging the PROXI Protocol, which requires CREDIT tokens. The expansion of the PROXI derivatives will create demand for CREDIT tokens in the open market as participants will need to purchase or borrow the tokens to meet their operational demands for lowering down the collateral ratio. However, CREDIT token will not be the sole asset permissioned to be used as the collateral to mint synthetic assets on PROXI.
This pooled collateral model enables users to perform conversions between synthetic assets directly with the smart contract, avoiding the need for counterparties. This mechanism solves the liquidity and slippage issues experienced by DEX’s. CREDIT holders are incentivised to stake their tokens as they are paid a pro-rata portion of the fees generated through activity on PROXI Exchange, based on their contribution to the network. It is the right to participate in the network and capture fees generated from PROXI exchanges, from which partial value of CREDIT token is derived. While trading on PROXI Exchange does not require the trader to hold CREDIT in the future.
\
**Yield Farming**
-----------------
To stimulate the massive adoption of PROXI platform, PROXI intends to apply the liquidity mining incentive to the multi-collateral and synthetic assets issuance operations. The platform seeks to bridge the gap between two major flaws in the crypto space.
1. **Negative yielding cryptocurrencies –** Most cryptocurrencies are being held in exchanges/wallets without yielding interest. In fact, these stored cryptocurrencies carry a negative yield due to significant storage costs and risks.
2. **Lack of borrowing avenues in the crypto space –** Without protocols like Compound or PROXI, the only place you can “borrow” cryptocurrencies is via centralized exchanges . However, borrowing from these centralized exchanges means that you have to place an inherent trust in them (to not get hacked, have your positions closed prematurely etc).
More importantly, with the introduction of DeFi, the gap between people with a surplus of cryptocurrencies and people with productive uses and investments for those cryptocurrencies can now be bridged. This benefits both parties, as the party with the surplus gets interest for lending, and the borrower can utilize the extra cryptocurrencies for his or her own purpose.
With Liquidity Mining Incentive plan, users could receive CREDIT token as rewards for adopting lending, borrowings, issuance and trading across the platform and thus the platform could go to market in an economic way and CREDIT token could have a native distribution throughout the ecosystem.
## **Tokenomics**
| **Items** | **Details** |
| ------------------ | ----------- |
| Ticker | CREDIT |
| Token Type | ERC-20 |
| Token Total Supply | 100,000,000 |
An overview of how we plan to allocate our vesting is broken down below:
| **Token Allocation** | **%** | **Vesting** |
| -------------------- | ----- | ------------------------------------------------------------------------------------------------- |
| Token Sale | 5% | No Lockup |
| Team & Advisors | 15% | 2-year vesting period prior to the listing, vest 1/5th of its CREDIT tokens every six months. |
| Foundation | 15% | 4-year vesting period prior to the listing, vest 1/10th of its CREDIT tokens every six months. |
| Ecosystem | 15% | 4-year vesting period prior to the listing, vest 1/10th of its CREDIT tokens every six months. |
| Yield Farming | 50% | 4-year vesting period starting from the MVP launch, vest 1/50th of its CREDIT tokens every month. |
**Token Release Schedule**
# ROADMAP
* Q2 2020 Alpha Protocol Development
* Q3 2020 Token Sale
* Q1 2021 Alpha Protocol V1 Published
* Q2 2021 MainNet Launch API/SDK for Developers
* Q3 2021 Dashboard & Interface Beta Published
* Q4 2021 50+ Asset Classes/Pairs Supported
* Q1 2022 Integration with Ethereum Blockchain
* Q2 2022 Asset & Risk Based Lending Launch
* Q3 2022 Leverage Based Borrowing Launch
# PRESS & CHANNELS
#### **Official Channels:**
Twitter: \
Medium: \
Telegram: \
Discord: \
Linkedin:
#### **Press:**
* [What is Defi?](https://medium.com/proxidefi-blog/what-is-defi-6555c597b859)
* [What is PROXI? ](https://medium.com/proxidefi-blog/what-is-proxi-190bba944661)
* [PROXI: Building A Sustainable and Profitable DeFi Network](https://medium.com/proxidefi-blog/proxi-building-a-sustainable-and-profitable-defi-network-3d4e93613632)
* [Why DeFi Is So Important?](https://medium.com/proxidefi-blog/why-defi-is-so-important-7c1fdf3effd4)
* [PROXI: Can #DeFi save us from financial catastrophe?](https://medium.com/proxidefi-blog/proxi-can-defi-save-us-from-financial-catastrophe-5dc5765e78ed)
