– The NPC program will help accelerate the application of decentralized finance
TAIYUAN, China, May 22, 2020 /PRNewswire/ — Decentralized finance (DeFi) continues to prove feasible as it has been deployed in thousands of applications since the concept was born in 2017. DeFi, a new financial ecosystem based on blockchain characterized by decentralization and the smart contract, started gaining traction in 2019 as one of the most valuable and important application scenarios for blockchain as it is more open, safe and efficient than the traditional financial system. The huge potential of DeFi was manifested in the strong momentum it saw in 2019. That momentum is expected to continue.
On March 12, 2019, Bitcoin crashed in a matter of minutes, negatively impacting the DeFi sector in a most pronounced manner. With the ongoing rebound in Bitcoin prices, DeFi continues to recover from that untoward event. The White Paper on Non-Player-Character (NPC), a new program designed to facilitate the application of DeFi, was released recently, attracting widespread attention within the community. The paper presents a full picture of the plan for the program’s strategic development, covering all aspects of the DeFi including Background, Concept and Mission, Underlying Technology, Architecture, Economic Model, Application Scenarios, Roadmap and Governance Structure. The document provides a blueprint for furthering the implementation of DeFi by creating an open, transparent and beneficial solution enhanced by an autonomous ecosystem.
NPC presents an initial outline of the technical, application and community structures that form the pillars of a distributed financial ecosystem which allows super volunteers from all over the world to leverage their skills to help develop a wide range of technological applications and communities with open tools and standards, instead of controlling the ecosystem with a centralized organization. The program aims to disrupt the traditional business architecture with a new, innovative and open distributed business and financial system backed by the integration of technology, community and application.
In contrast with other functional DeFi programs, NPC aims to work with super volunteers, who play a key role in promoting the program, to build a decentralized financial ecosystem equipped with underlying blockchain technologies, diversified applications and dynamic communities, rather than serving as an update or an alternative to traditional financial instruments.
Notably, the NPC program is led by an international team consisting of financial and blockchain experts from around the world. Brought together as members of an open-source NPC community, the team is accelerating the building of the ecosystem backed by deep and extensive research.
With the release of the initial white paper, the NPC team is taking an innovative approach to building the ecosystem. With the new two-layer economic model, the team is developing a governance system based on two tokens: NPC Point and NPC Coin. NPC Point, a general point that can be applied across the ecosystem, is used to measure the readiness of the DeFi ecosystem backed by the integration of large communities. NPC Coin, an equity token for each of the communities, is a proof of the value created by DeFi applications. The token can be used for fundraising, sharing of the benefits from the ecosystem, governance and voting, dividend payout, mutual support among communities and the prospective delivery of value to NPCP. In addition, the token can be entered in the ledger of the NPCP network as a record of the sharing of earnings and transferred to ETH and other major public chains. The model is designed to implement the ideas of value investing and autonomous community. In addition to supporting the quality-based development of the NPC distributed financial ecosystem, the model also protects the interests of each of the community members.
Besides the three proven DeFi applications in the market, P2P, capital pools and stable coins, NPC also provides guidance on building the structures of staking and mutual finance applications. As the ongoing development of the entire community ecosystem is based on a strong consensus, DeFi will benefit from accelerated implementation and model upgrades with the support of NPC. Taking into account the deficiencies of the traditional financial system, the NPC program will strive to help shape a world of free economy bringing together everything via finance by developing and optimizing real-world applications across scenarios.