Next, let’s welcome our two honored guests from HyperPay to say hello to everyone and briefly introduce the HyperPay wallet.
Moon
Hello, everyone. I am MooN. I am the technical director of HyperPay and I am very glad to be here.
Thank you!
HyperPay is the world’s first four-in-one digital asset wallet, innovatively integrating off-chain wallet, on-chain wallet, shared wallet, and hardware wallet. In the spirit of“Security, Our Fist Concern. Enhancement, the Firm Destination”, HyperPay is committed to integrating the personal finance field and the mainstream third-party platform payment field, and building a convenient and secure one-stop service platform for digital assets through continuous technological innovations, providing digital currency users and enterprises with financial services such as asset custody, wealth management, and consumer payment. It uses a digital wallet to solve all the problems related to digital cryptocurrency. HyperPay has more than 1 million users, more than $1 billion in asset management, and more than 310 million transfers.
HyperPay off-chain wallet supports 44+ mainnet coins and 157+ mainstream coins. It also has rich functions such as wealth management, currency/fiat transactions, instant exchange, mortgage loan, market tracking, and multi-signature co-management. HyperPay on-chain wallet supports 18+ mainnet coins such as BTC/ETH/EOS/USDT/LTC/BCH/BNB/XRP/HC/TRX/QTUM/DCR/CKB/XLM/BSV/ATOM. HyperPay hardware wallet HyperMate supports mainstream currencies such as BTC, ETH, EOS, HC, BCH, LTC, QTUM, XRP, USDT, XRP, DASH, and supports multi-signature functions of BTC, ETH, ERC20, HC, BCH, and LTC.
HyperPay always puts the safety of user assets in the first place. It provides the highest level of security protection mechanism, adopts cold and hot wallet separation storage solution, 80% of funds stored offline, implements security experts monitoring abnormalities 24 hours, and uses hardware multi-signature deposits and withdrawals mechanisms, seven-layer security protection strategy, two-factor authentication, biometric verification and two-step authorization mechanisms to ensure the safety of user assets in all aspects.
Recently, HyperPay wallet has fully deployed the DeFi ecosystem to accelerate the update and iteration of related products and services. Currently, DeFi applications in the public chain ecosystem of ETH, TRON, EOS, and ONT have been supported, and more high-quality public chain ecosystems and project parties will continue to be accessed.
1: In the pasty two months, DeFi is very hot in the market, and I see HyperPay has also participated in it and gotton good grades. So how did HyperPay’s strategy achieve such high returns? What is the relationship between obtaining these benefits and the HyperPay wallet business?
Richard
Hi everyone, my name is richard, the investment director of hyperpay, previously worked as a quantitative fund manager in a traditional industry, and managed assets of 3 billion at most
Liquidity Mining was first created by IDEX in October 2017, improved by Synthetix in July 2019, and implemented on a large scale by Compound in June 2020. As a better way of Token issuance, dozens of creative contracts have been developed based on it.
This DeFi market started in June and was in full swing in the first half of September. There’s a tweets making a simple summary of the projects, so you can see the change intuitively through the picture below:
Difi has entered the second half, and competition is becoming more and more fierce, the knowledge and efficiency of the financial field being more and more important.
With the continuous development and maturity of the decentralized finance service ecosystem based on Ethereum, more and more products are emerging in the DeFi market, and some of them are getting inscrutable. For veteran investors, they can deploy the latest decentralized financial software proficiently and hedge risks appropriately, but for common investors, it is hard to choose the right one among the explosive products for the lack of experience.
MooN
We have earned a lot in this DeFi trend, and why’s that?
First of all, many DeFi projects have very high profits from the first mining, but the risk is also relatively high. The project may be unaudited or audited but there are still many vulnerabilities. HyperPay has hired a security consultant from SlowMist, and it also has a professional code audit team to review new projects.
Secondly, the HyperPay joint review team composed of financial analysts, actuaries, and fund investment managers will analyze the project’s profit model and future development value, rigorously calculate the investment value of the project’s first mine or the long-term investment value of the launched project, and conclude the specific investment strategies that meets the value of investment.
Finally, because liquidity mining is a game for large funds players, HyperPay can fully take advantage of its own financial advantages in mining, reducing the cost of handling fees to increase revenue, and continuously integrating various liquidity products in the investment, to achieve a higher rate of return.
To sum up, HyperPay launching these investment services is to help users solve the problems of complicated mining operation procedures and high gas handling fees, and to reduce the risk coefficient of user participation. Before investing, HyperPay will first evaluate and screen the project, then invest in the valuable parts, and give full play to the advantages of large funds to obtain better returns.
2: In the process of liquidity mining, what risks may users face?
MooN
When it comes to the risks of mining, contract security issues are the first to concern. So what risks do we face when investing in DeFi products is an important part investors must know. Here I list 5 points:
1. Contract risk, including code vulnerabilities, unaudited, and hacking attacks, which will cause asset losses;
2. Contract owner’s private key risk. The non-multi-signature DeFi contract means that those who have the contract private key can change the contract or run away at will;
3. Capital utilization risk. Users stake LP Token to the liquidity pool, and if there is a liquidity problem, there will be a income loss;
4. Transaction friction risk. At present, the congestion of the Ethereum network results in ultra high transaction gas fee that a few transactions may need one Ether. For retail investors, if the transaction frequency is too high, it is very likely that the income cannot cover the cost. It is not good for the small funds;
5. Operational error risk. In the process of participating in DeFi, users may need to operate deposit, sell, withdraw with multiple projects, so it is easy to make mistakes. Media and communities has reported many transfer accidents that lead to permanent loss of assets;
Among the above 5 risks, the most important is the contract risk. Many smart contracts have corresponding audit reports, but are the audited contracts safe? Not necessarily:
1. Security audit may not find the loopholes or there are new forms of attack methods;
2. Smart contracts have migration and tamperability;
3. With the development of DeFi projects, new pools need to be added, and the new pool contracts have not undergone contract security audits;
4. DeFi is composed of smart contracts and WEB front-end pages. Generally, it is difficult to conduct security audits on WEB front-end pages, and R&D can be changed at any time;
To sum up, the specific risks of individual users when mining by themselves are as follows:
1. Individuals have no ability to screen DeFi projects;
2. The cost of learning is high, and the new gameplay of DeFi projects is hard to understand;
3. Users have not carried out diversified investment, cannot withstand the investment risk of a single project and increase the rate of return through merger operations;
4. The above mentioned operation error risk.
3: HyperPay is first launched in 2017, and it is still growing. It has made great achievements such as hardware multi-signature wallet HyperMate, crypto card Hypercard and other businesses. This DiFi trend that many industrial old teams failed to catch, why can HyperPay keenly seized this Defi opportunity?
Moon
I think that the topic of security in this industry will never be out of date. The news about assets theft has never been permanently removed from the headline. Therefore, protecting the security of user assets is the foundation of the wallet business. Moreover, HyperMate and HyperCard are developed around the wallet’s ecology, to better serve wallet users and help users to enjoy the dividends of the development of the digital economy.
DeFi opportunity is actually highly related to the nature of our industry itself:
Because, the transaction of cryptocurrency itself, or related derivatives, or the ecosystem such as trading platforms, wallets created based on cryptocurrency, all prove that finance is currently the most mature, most developed, and promising applications in the filed. Blockchain possesses strong finance attribute since its birth; finance based on blockchain technology has the characteristics of decentralization, which will become the best model to solve many pain points in the current financial field. It is the reason why the decentralized finance, DeFi is promoted.
To be frank, HyperPay did not participate in these DeFi projects with ultra high profits the first time, but to wait for market verification. When more and more strong, audited, and market-sought projects follow up, HyperPay decides to design the relevant investment services after team discuss and evaluation.
4: Richard is the fund manager of HyperPay, can you share with us the strategy that HyperPay takes in this Defi “calf” market?
Richard
Now we can see that when retail investors conduct liquidity mining by themselves, although the revenue from the first mining of many projects is very high, after the settlement, they might find out that they don’t make a profit, they even suffer a loss. I believe that many people here have had the similar experience: at the beginning, you just want to invest with small funds, but you first have to pay a gas. After transfer in and out, several handling fees are required. At the end, the revenue is less than the cost.
Truly, DeFi liquidity mining here is not friendly to small funds, and many people hold negative opinions against DeFi, saying that the price and the return rate are declining, so is it necessary to invest in DeFi?
After rigorous calculations, my colleagues and I believe that liquidity mining still has a very large investment value. Buffett has achieved return rate of 10 times in 10 years. The financial industry often uses the “compound interest rule” to explain the annual average investment performance of 25%.
Why does Buffett advocate compound interest so much? The reason is simple, the return of compound interest investment is 20% to 80% higher than that of ordinary investment.
Think about it. If you get 1% of the return for each investment cycle, if you just put it there and wait for growth, the return will be principle*1% and never increase.
But if it is compound interest investment, the return will be (principle+return of last cycle)*1%, which means the return is always increasing. After one hundred cycle, the return will be very impressive. A project with an annualized return of 30% can easily achieve growth to 45%-60% through compound interest reinvestment. Of course, there’s a problem. It is more suitable for large-capital operations, because there will be a loss of handling fees every time you withdraw, and the extra income of small funds cannot offset the loss of handling fees.
When many investors are still staying in large-funds mining, HyperPay professional team can make multiple-strategic investments in various pools skillfully through rigorous cost calculations:
Many has mined crv, and some locked up crv in order to obtain 2.5 times the income. However, with the price falling, the loss is quite big. Now I have a method that can get more than 2.5 times crv income without lock-up. (One mine, three mining)
For example, you have some USDT in the HyperPay wallet. First step is to deposit stablecoins in the Y pool of Curve.fi, get yCRV, obtain the basic annualized return. Then deposit yCRV in the vaults pool of yearn.finance in yEarn. , choose ycry, get yusd (yycrv). In this way, you can get the second profit. Finally, save the liquidity token (yusd) in for.tube to realize the third mining profit. It can achieve a higher rate of return without the need to lock on curve-similar platforms.
This is why our return is higher and safer than many other investment products.
5: We know that there are also many digital wallets on the market, such as metamask, imtoken, etc. What are the advantages of HyperPay compared to them?
Richard
MetaMask is a browser-based Ethereum wallet plugin. imToken is based on a mobile terminal and supports multiple chains, such as Ethereum, Bitcoin, Cosmos, etc. These two wallets belong to on-chain.
In addition to on-chain, HyperPay also has an off-chain module. The off-chain wallet supports 44+ mainnets and 157+ mainstream coins. It has rich functions such as wealth management, currency/fiat transactions, instant exchange, mortgage loan, market tracking, and multi-signature co-management, and also open access to popular DApps.
HyperPay has the advantage in liquidity mining. HyperPay’s DeFi Staking investment product simplifies the mining process, reduces the loss of handling fees, and obtains higher mining return for users.
Here, HyperPay DeFi Staking has launched two new investment products. They are Steady · Principal & Interest Guarantee and Max · Compound Interest.
Steady · Principal & Interest Guarantee is a fixed 7-day, annualized 15% to 30%, investment product. The principle and interests are guaranteed.
Zero risk and zero handling fee.
Max · Compound Interest is a fixed 21-day, annualized 30% to 80%, investment product. The principle is not guaranteed. The investment subjects are carefully selected by HyperPay team and it conducts compound interest investments, so the risk factor is low and the returns are high.
There’s also a purchase promotion for the products from Oct 13 to Oct 16. Users who purchase during the period can also share 10000USDT according to the purchase percentage.
Click https://www.hyperpay.tech/app_down
To download the wallet and experience yourself
(HyperPay V4.0.0 will be launched soon, which has greatly improved asset security and user experience.)
Follow to know more of HypePay:
Web: https://www.hyperpay.tech/
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