In order to enrich the application scenarios and expand the user base, Trias has decided to choose BSC as its new battlefield. Now Trias has completed the migration of TRIAS token to BSC. Trias Leviatom based on TEE, as an underlying infrastructure, can protect the privacy of decentralized exchanges, lending, mortgage mining, derivatives and so on.
In addition, Trias has carried out new explorations in BSC, including the launch of the “Land of the Lost” series NFT in cooperation with DEGO; Trias grant, a decentralized crowdfunding platform.
Trias hopes to build a cross-chain infrastructure with privacy protection at the core, and becoming a “bridge for all DeFi protocols”. Its application scenarios are not limited to DeFi that values privacy protection. As multi-chain is growing rapidly, TRIAS will also provide privacy services for the circulation of more cross-chain assets.
Starting from scratch, DeFi has made much progress. In today’s DeFi world, there is “one leader, multiple strong followers”. Because Ethereum can not solve the problem of scalability, public chains have the opportunity to undertake the overflow traffic from Ethereum. Among them, the exchange public chain ecology as represented by Binance smart chain(BSC) is becoming showing dazzling performance.
In order to enrich the application scenarios and expand the user base, Trias has decided to choose BSC as its new battlefield. This move is mutually beneficial. That is, on the one hand, the traffic and channels provided by BSC will promote Trias’ ecological development; on the other hand, the arrival of Trias will also bring new applications and traffic to BSC.
Recently, Trias has completed the migration of TRIAS tokens to BSC and has burned 5 million TRIAS tokens in the original token allocation scheme. Instead, it has issued the same number of tokens on the BSC. In this way, Trias successfully manages to realize the interworking of Trias tokens between Ethereum and the BSC while guaranteeing the same volume of tokens issued. All users can transfer TRIAS tokens from the Ethereum network to the BSC to participate in the DeFi applications on BSC.
BSC is a basic public chain developed by Binance. With excellent programmability, EVM compatibility and high performance, BSC have been applauded by many users for its speed, efficiency, cost and convenience. Relying on the PoSA consensus algorithm, BSC combines the functions of DPoS and POA mechanism and builds on the network of 21 verification nodes. The fast speed in block generations and low transaction fees endowed by PoSA lay a solid foundation for the DeFi protocols.
BSC is compatible with the existing Ethereum virtual machine EVM and all the applications and tools in the ecosystem. Developers can easily migrate and deploy the Ethereum DAPP.
The excellent system, easy migration procedure, and low transaction fees distinguish BSC from its competitors. At the beginning, BSC was only taking over the overflowing traffic from Ethereum but gradually it has developed into such a scale that it can compete against Ethereum. Its current growth trend suggests that if Ethereum can not meet users’ expectations in the future, BSC will continue to occupy more market share. It is possible that BSC will one day challenge Ethereum’s leadership position.
What can Trias bring to BSC?
Cross-chain infrastructure based on TEE
Although BSC is perfectly compatible with Ethereum EVM, there is no cross-chain solution in BSC that allows migration to heterogeneous blockchains, such as Ethereum. At present, the mainstream cross-chain migration usually adopts the notary mechanism, which is a rather centralized solution and thus not consistent with the concept of blockchain decentralization.
The goal of Trias is to build a public chain for secure cross-chain transactions and provide a platform for digital assets transactions. By allowing multi-asset transactions among different chains and adopting a strict privacy protection mechanism, TRIAS solves a set of problems that are prevalent in decentralized finance, such as multi-asset accounting, contract execution and transaction privacy. Its programmability and scalability also enable it to function as infrastructure and allows distributed financial applications to be developed.
Trias’s cross-chain scheme is based on TEE which can be considered equivalent to a “trusted connection technology”. This scheme can accurately reflect the trusted data of a public chain and send the information to another chain. When transmitting information, TEE is tamper-proof and thus can ensure data veracity. Participants on the two independent chains can fully trust the data performance of each chain, which guarantees the interworking of the two chains. In addition, with such privacy protection technology, almost all developers can easily create contracts with privacy protection models embedded. For users, they can have a great experience with high performance and high security.
The demand for transaction privacy has been existing since the birth of finance. Although the blockchain ensures anonymity to an extent, it can only provide limited privacy protection. For instance, one practice adopted for anonymity is to produce random addresses unrelated to identity. The random addresses generated are usually used as the input and output accounts of transactions. However, through tracking and analyzing the blockchain transaction, IP information, etc., attackers can still find out the relationship between the accounts and transactions performed, and further be able to speculate the identity behind each address. This means that although the blockchain performs better in ensuring anonymity than traditional finance, privacy protection is still limited.
Therefore, the blockchain still needs more privacy protection mechanisms. The popularization of DeFi further underlines the urgency. No one wants their transaction activities recorded or monitored. As a basic element of the free-market operation, the importance of privacy protection is self-evident.
Trias provides a set of common privacy protection protocols. Based on the trusted execution environment (TEE) and Zero-knowledge proof technology, the privacy protection layer functions as an underlying infrastructure and can be combined with other public chains and protocols to realize privacy protection for heterogeneous blockchain. Therefore, the privacy of users on different chains is well protected.
Function like a new trusted protocol on the Internet, Trias privacy protection layer realizes machine trustworthiness by separating machine trustworthiness from data trustworthiness. All machines can be connected. On this basis, the independent database is created. Layer-1 is used to ensure the reliability of the account book and realizes the data exchange between the books.
As a trusted infrastructure, Trias allows developers to use these components to make DeFi tools or applications based on their preferences. Trias infrastructure guarantees applications that are built upon it to have a trusted mechanism and sufficient privacy protection enabled by strengthened nodes.
New Explorations in the TRIAS Ecology
After completing the migration of Trias tokens, Trias and DEGO, the BSC ecological NFT platform, jointly released a series NFT named “Land of the Lost” .
Users can exchange Trias for “dinosaur NFT” in the lost continent during the activity and use the NFT to mine. That is to say, users holding dinosaur NFT can participate in Trias mining on DEGO and receive mining rewards.
Trias has set aside 28,000 tokens as mining rewards. Users can deposit any number of Trias or DEGO tokens to obtain Trias NFT and use it for mining. The event is going on right now. To know how to participate, please refer to the link below: medium.com/triaslab/trias-x-dego-mining-is-about-to-begin-d8597ac5f488
This joint event signifies that Trias is starting to explore “DeFi + NFT” on BSC. As a privacy protection infrastructure, Trias is committed to providing security and privacy services for users who are involved in the auctions and cross-chain transactions of NFT. In doing this, Trais seeks to create an NFT ecosystem that is both sustainable and practical.
Trias Grant is a decentralized crowdfunding platform.
It aims to innovate the crowdfunding model through Web 3.0 to ensure the materialization of high-quality application value. With Trias Grant, projects can apply for funding from the community and Trias foundation, and thereby solve the problem of low efficiency in project financing.
Trias’ Tokenomics uses the original token TRIAS as the core, which is combined with the DeFi incentive system and the DAO governance mode, to create an inclusive crowdfunding ecosystem with greater scalability and sustainability.
Trias provides two kinds of crowdfunding for projects. One is conventional crowdfunding, in which the projects can set the issuing price, the issuing amount, crowdfunding time and other limitations by themselves. At the end of crowdfunding, if the amount raised exceeds the target, projects will receive angel funds and issue tokens for users for crowdfunding. If the goal is not reached, it means that crowdfunding fails; thus the project cannot obtain angel funds.
The second is financing through quadratic voting. The project initiates the quadratic funding voting, and the community members can vote on the project according to their own preferences. The voting result determines the final amount of money raised by the projects. In quadratic funding, the square root of the vote is counted as the score. For example, if you cast 1 vote, you will get 1 point. If you cast 100 votes, you will get 10 points. According to the principle of quadratic voting, the final funds obtained is the sum of all square roots squared.
The advantage of quadratic funding is that it increases the cost of bribery, because in this voting model, with the increase of the number of votes, the cost of voters goes up exponentially. Quadratic funding is a relatively fair voting method. Its principle fits the voting conditions of “public goods” under the DAO governance. The interests of the majority of participants are protected.
The TRIAS tokens raised by the project will be burned after the crowdfunding. TRAIS Foundation then will issue new Trias tokens to the project. In this way, Trias manages to realize the deflation of TRIAS tokens. When more projects are issued on Trias Grant, the market demand of TRIAS will be stronger. At the same time, as TRAIS tokens are continuously burned, there will be fewer of them in circulation which forms a sharp contrast with the growing demand in the market. This will stimulate the performance of TRIAS tokens in the secondary market.
For users, Trias Grant offers them opportunities to fairly participate in crowdfunding of high-quality projects. By staking TRAIS into the project’s funding pool they have confidence for, users can receive a corresponding amount of assets of the project if the crowdfunding succeeds; otherwise, they can still obtain TRAIS tokens at the APY of 8%.
DAO is a rudiment of the forthcoming Web3.0. The DAO organization has a clear development goal and is derived from individual manipulation. It evolves and grows by itself. Based on the DAO governance model, Trias Grant allows both projects inside and outside the Trias to initiate crowdfunding on the platform and incubates them in the form of DAO. Such a decentralized decision-making approach enhances transparency and is beneficial to improve the governance structure of Trias Grant platform.
As we all know, BSC aims to “create an ecological synergy between CeFi and DeFi” and bridge traditional finance and DeFi. TRIAS shares the same ambition as BSC. It is committed to building a cross-chain infrastructure with privacy protection at the core, and becoming a “bridge for all DeFi protocols”. Its application scenarios are not limited to DeFi that values privacy protection. As multi-chain is growing rapidly, TRIAS will also provide privacy services for the circulation of more cross-chain assets.
Trias Grant can help Trias to explore, connect and incubate more high-quality DeFi projects. Trias will become the innovation hub of BSC by continuously attracting projects to the BSC ecology through Trias Grant. TRAIS is on its way to be the most indispensable part of the BSC ecology.
Learn more about Trias:
Official website: www.trias.one