Please introduce yourself and your team and projects？
Polies是我们在这个市场这么久打磨出来的产品，Polies的全称是poli eco system，是一个新型的去中心化金融系统，我们是旨在为投资者提供公平、安全的交易，追求数字货币市场的健康发展。
Hi, I'm Michael, co-founder of the polies project, and I'm happy to be a guest at 499block's ama event today. Our team members are mainly from Toronto, Canada, and we got into the blockchain industry in early 2016. After doing research on Bitcoin, we were attracted by this amazing ideas, and then we bought a few hundred dollars worth of Bitcoin and a few dollars worth of ethereum on Poloniex. Fortunately, it is a decent investment. Our current team includes developers who have previously operated well-known exchanges, believers who have joined the blockchain community from traditional Internet and Financial industry, and entrepreneurs like me who have been in the market for years and have seen many great successes in the ethereum ecosystem. So we hope to have a good defi project in the Polkar ecosystem. Polies is a product that we have developed to achieve this goal . Polies is a new type of decentralized financial system called poli eco system, we are aiming to provide fair and safe transactions for investors and valuable assets for the digital currency market.
What do you think of the current status of DeFi and where can it be optimized?
It is still in the very early stages of defi's development, only two years since the concept was first introduced. DeFi is still an unknown quantity until the actual application of DeFi gets off the ground, and if there is no actual application in the future, DeFi is doomed to remain a bubble. Overall, the future of DeFi has unlimited imagination, but its application scenarios and ecological empowerment still need to be improved continuously.
What products will Polies' DeFi protocol and ecology include, and what role will they play?
Michael：nPolies Money Market
To build a decentralized financial system in Polies, Polies accepts the underlying assets mortgage from users. After the user has pledged the underlying assets, the system returns a certain amount of pTokens to the user based on an exchange rate as a voucher for the underlying assets; for example, Ethereum (ETH) to pETH if the user deposits ETH. The underlying assets would also need to be backed by pTokens. At the same time, to reward users for their contributions to the Polies ecosystem, the bottom asset part of the interest check will be awarded in the form of PT to the bottom asset providers to participate in the governance of the community.
nPolies ETF Market
The decentralized ETF provides a standardized smart contract investment and financing tool that uses smart contracts to control the entire investment process. The money is locked into the contract and can be viewed by anyone, reducing the cost of trust. Investors can withdraw their investment at any time, providing them plenty of time to recognize and evaluate trend
Polies Fund Market
Fund managers in the Polies Fund Market go through the same process as those in the Polies ETF Market, where they gain the approval of the autonomous community before being voted on by the corresponding PT holders.
Additionally, the fund manager or other PT holder in the Polies ETF Market will have to pledge a certain number of PT to launch a risk-biased product before the product is finally introduced. The operation of the fund is carried out on the basis of meeting the regulatory conditions of Polies. Policy implementation and oversight will be configured on agreements rather than through opaque asset management processes.
If the portfolio is profitable, the fund manager and the person pledging the PT can charge the agreed-upon fee and performance charge as a percentage of the excess return.
Polies will access the global mainstream cryptocurrency market through Polies oracle and avoid the subjective investment of ordinary investors by analyzing the market conditions and public opinion survey data, establishing mathematical models instead of man-made subjective judgements and making investment decisions. It will help make the cryptocurrency investment behaviour evident and in order. The smart contract automatically allocates trading strategies for users based on their risk preference or the volume of funds, using quantitative trading strategies to replace manual and inefficient operations.
Polies Oracle and Polies Data
在安全性方面，智能合约不具备大规模数据处理的能力，总是会导致计算溢出，所以Polies Oracle有必要调用外部数据来代替计算。这样就避免了智能合约在被调用时被拒绝的问题；在扩展性方面，Polies Oracle解决了如果Polies协议指定数据源，上传数据可能被篡改的问题，所以弥补了智能合约平台网络效应和扩展性的不足。
On the security side, the smart contract does not have the ability for large-scale data processing, which always leads to computation overflow, so the Polies Oracle is necessary to call the external data instead of computation. This avoids the problem of smart contracts being turned down when they are invoked; in terms of extensibility, the Polies Oracle addresses the problem of uploading data that might be tampered with if the Polies protocol specifies a source of data, so it makes up for the lack of network effect and scalability of the intelligent contract platform.
Polies data uses a data search engine and big data AI analysis techniques. Polies has developed a highly efficient data interface that connects with positions and transactions data from the world's leading cryptocurrency trading platforms and stores them in an optimized professional time-series database. Furthermore, in terms of market information and public opinion data, Polies possesses NLP and statistical models based on high-quality big data for monitoring and grasping real-time market information.
Polies community is a decentralized investment community that will combine Quora’s industry question-and-answer (Q & A) model with the broker’s bridge link model to form a blockchain and cryptocurrency investment service community. This community connects ordinary investors with professional trading teams, allows the professional investment team in the community to lead many investors to grow together, finds excellent investment targets and shares the benefits of blockchain development. At the same time, through the pass incentive mechanism, the community allows the outstanding community members to reveal themselves, fully display their talents and thus stand out, reaping the rewards that match their contributions so that the community can form a healthy value ecology. Polies provides web-side, mobile-side and other multi-modes of an operational window. An internal key module allows only internal business module access as well as business layer, service layer, system management and system monitoring through internal interface communication. At the same time, all API interfaces are transmitted through HTTPS encryption channel to enhance the security of client and server. Systemwide security monitoring and auditing, as well as a real-time log, history log processing and abnormal business alerts work to ensure the security of user funds and data.
How to realize the decentralized ETF and how do users participate?
Decentralized ETF model is safer, more efficient and more transparent than the middleman model, which requires significant manpower. It helps to standardize the investment process and improve the investment and financing environment of the industry.
Investors who hold a specified number of token can vote on ecosystem governance and product launches.
Under the chain, the product is initially designed in the community, measured back and judged by the autonomous community (PST holder). The process is then modified by the development team managed by the decentralized ETF ECO Foundation and uploaded to the protocol layer to complete the voting in the chain.
After the issue of investors will be the underlying assets or the corresponding other assets investment can get xxETF as an asset certificate, chain lock the corresponding investment assets.
If a portfolio such as an ETF or other structured product is redeemed, the holders of the token can receive a percentage of the excess return, based on the agreed-upon fees and performance charges.For investors in ETF and other structured products, if their products are used in such businesses as short selling securities, the profits generated will be distributed to investors, and some of the profits will be converted into tokens, encouraging investors to participate in ecological autonomy.
The currency prices of many DeFi protocols have fallen sharply. What do you think is the reason?
The currencies in the Defi section had a wild ride in the last round.Phenomenally fast rise, but then the performance was weak. I think that the market is overheated, because the support of the currency price needs to be complemented by ecological applications and community users, and not just a unilateral and brainless rise. I think a pullback is a normal state. The impact of DEX on CEX is evident to all of us. I think that the formerly hot projects and exchanges are feeling a lot of pressure from the defi impact. For investors, it is more important to embrace the trend.
How are Polies' tokens distributed, and what will happen?
PoliesToken's early investors will have 20%, the foundation will have 30%, and then 50% of the token will be given to the construction of the ecology. Users with PT can participate in the voting governance of the platform's product launch, as well as participate in the future dividends of the platform's funds and related products.
What is the next plan? Which one will Polkadot and Ethereum choose?
Michael：Polies V2.0或将部署在Polkar网络上，Polies最大的限制就是跨链信任机制的搭建和延迟和数据吞吐量的难题。 在Polkadot 上的网络和应用程序可以像智能手机上的应用程序一样共享信息和功能，而无需依赖具有可疑数据实践的中心化服务提供商。与以前主要作为独立环境运行的网络不同，Polkadot 提供了互操作性和跨链通信。这为创新的新服务打开了大门，并允许用户在链之间传递信息。
在产品的转化方面，Polkadot 独特的设计跟以往的区块链网络相比，为Polies项目提供了更多的创新和灵活的迭代。通过将多个特定场景的链整合到一个可扩展的网络中，Polkadot 使区块链技术能够充分发挥它在现实世界场景中的潜力，产生新的市场，并为未来Polies去中心化的经济体铺平道路。
Polies V2.0 or will be deployed on the Polkar network. The most significant limitation of the application of blockchain is latency and data throughput; for example, it takes more than half an hour for BTC/ETC to confirm the transaction. Networks and applications on Polkadot can share information and functionality like applications on smartphones, without relying on centralized service providers with questionable data practices. Unlike previous networks that operated primarily as stand-alone environments, Polkadot provides interoperability and cross-link communication. This opens the door to innovative new services and allows users to pass information between chains.
In terms of product transformation, Polkadot’s unique design provides the Polies project with more innovative and flexible iterations than previous blockchain networks. By integrating multiple scenario chains into a scalable network, Polkadot enables the blockchain technology to fully exploit its potential in real-world scenarios and generate new markets, paving the way for a future Polies decentralized economy.