Alchemint participate in Blockchain Stable Economic Model Design Competition in Beijing
Blockchain Stable Economic Model Design Competition（BDC） is a world-famous mechanism design competition which jointly hosted by Tsinghua Wudaokou blockchain club，Qinghe Asset Management company and Changan Club young leader program. As a world-famous stable economic program, Alchemint maintains a keen interest in this competition. And after a long term of effort, Alchemint successfully reached the finals of this international competition and gained wide acceptance from the sponsors and judges. August 25th, Alchemint CTO Qi Feng attend the competition on behalf of Alchemint team in Chang’an Club，Beijing.
There are 10 teams from around the world participate it, including the famous project MakerDao which runs on Ethereum, Wangtong Team whose founder came from Nobel economics prize winner Jean Tirole’ lab, ANET teams composed of Korean data scientists, and other teams from universities such as Peking University. The design ideas of the participated teams are also different: there are excess mortgage model, similar mortgage market maker model using futures hedging, and algorithmic bank model. Each participated team made a profound exposition of its economic model in accordance with the requirements of the organizer in the specified time. On the basis of analyzing the pain points of the industry, each team combined its stable economic model with the application case, made stable economic design, which gave a wonderful expression.
Guest including Professor Chen Zhong from Peking University Blockchain Laboratory, Professor Liu Xiaolei from the Blockchain Lab of Guanghua District of Peking University, Yuan Yuming, Dean of the Huobi Institute, Zhu Youping, researcher of the National Information Center, Lin Xiaoyu from Fast Chain Planet, and Guo Lijing, head of the blockchain business unit of Jingdong Cloud District, commented on several teams and asked them many questions. The academic atmosphere was very strong and the discussion content was very profound.
In the end, Alchemint and the MAKERDAO successfully won the direct pass and will participate in the BDC final held in South Korea in three months later. The two projects also gave a wonderful comment on the design of the current stable economic model. Alchemint CTO Qi Feng said that the stable token as the most important infrastructure of the blockchain ecology, there are still many problems to be solved, whether it is part of the design that is too central, or the endogenous nature of the mortgage model. The problem needs to be considered by the entire industry including academic institutions and commercial organizations. Only in the premise of fully developed infrastructure, the blockchain industry can achieve the practical application of the landing and vigorous development.
The competition has received wide attention from all walks of life; Wudaokou Blockchain Club, Changan Club Youth Leadership Program, Peking University Guanghua Blockchain Lab, Peking University Xinke Blockchain Lab, and Tsinghua Encryption Economy Club have all supported and helped the event. Alchemint CTO Qi Feng said that Alchemint would not forget the initial purpose and work together to promote the overall development of the blockchain industry.