Pros Finance: cross-chain ambition and eco-strategic thinking
Pros Finance, as a decentralized financial system that combines DeFi+DAO+NFT+ cross-chain technology, has gained a lot of attention and a large number of loyal users during the DeFi boom, laying a solid foundation for the DeFi industry. Early in December 2020, Pros Finance secured a strategic investment partnership with Coin Capital and TimestamPVC, which combined its technical strengths with the capital power to quickly establish Pros Finance as an integral part of the DeFi space.
Pros Finance’s token PROS also hit a decentralized exchange, Uniswap, last year and has seen good gains. To date, Pros Finance has opened up three forms of mining on its website (https://pros.finance/). The first is social mining, where users preach PROS and invite their friends to participate in mining tokens. The second is LP certificate mining, where users provide liquidity for PROS /ETH through Uniswap and mortgage an LP to be deposited in an official pool for mining. The third is Staking, a robust form of collateral mining that supports ETH, USDT, and PROS.
The diverse mining ecosystem has attracted a large number of users to jump in and capture the value of traffic from the DeFi wave, which is why Pros Finance is attracting capital and organizations. DeFi traffic users are at the forefront of the industry.
Pros Finance’s cross-chain ambitions
Building an open, decentralized financial ecosystem is an easy and profitable business for Pros Finance, but with the speed of iteration and changing trends in the industry, Pros Finance is beginning to explore multiple areas. Because of the team’s keen sense of the industry, it was important to build the moat of Pros Finance around DeFi’s distinctive ecology. Building a Pros Chain with cross-chain functionality is the first step. The team noted in their New Year’s letter that they have recently made breakthroughs and plans in cross-chain technology.
The development of blockchain can be summarized into two major stages so far. The first stage is consensus dissemination, so that more people know about blockchain and join it. The second stage is the improvement and upgrading of blockchain technology, including the performance improvement of TPS and other services. Now these two stages have been very high degree of completion. Next, the industry should move to the third stage: cross-chain consolidation.
Pros Finance’s commitment to building a cross-chain Pros Chain is a very accurate grasp of the changing trends in the industry, and there is no doubt that 2021 will be the year of the race around cross-chain technology. You can see from the letter that Pros Finance is very confident in cross-chain technology. The Devs have revealed that they will build their own cross-chain technology on top of Polkadot’s technology. However, the Pros cross-chain and Polkadot’s cross-chain technology will not be in a hostile competition, but will be on the shoulders of Polkadot’s giants. In the future, the Pros Chain may become a part of Polkadot’s cross-chain ecosystem and will not rule out participating in Polkadot’s parallel socket auction.
Ecological Strategy First Win: Pros Swap
The Pros Chain is the foundation of all ecosystems, and future developers will be able to build thousands of applications on top of it, such as NFT, mortgage lending, DAO organization, Prophet, privacy tools, and more. As a technology-oriented team, the Devs seem to be impatient to announce the first cross-chain DEX (decentralized exchange) development plan — Pros Swap.
Pros Swap isn’t the first DEX, but is probably the most distinctive one. The Devs tried to pioneer a new trend by combining cross-chain with DEX in a bold way. One of the ideas of the Pros Swap is to provide an easier and more efficient trading experience by eliminating the common problems of Swap on the ETH network with extremely high TPS and very low transaction costs.
The second idea of the Pros Swap is to trade cross-chain assets. As mentioned above, the Pros Chain will utilize the power of Polkadot to develop cross-chain technology, so the Pros Swap, which is also based on the development of the Pros Chain, will also achieve different chain asset trading. In the future, hundreds of mainstream public chain assets will be barrier-free trading through the Pros Swap, completely breaking the island of the public chains and realizing the centralized merger of industry resources and traffic.
The third idea of the Pros Swap was to introduce the Bancor solution. At present, there are tens of thousands of projects in the blockchain industry. In addition to trading mainstream assets such as BTC and ETH, many users prefer niche projects, and the liquidity of niche projects is often not great. The Bancor protocol solution is applied after the Pros Swap to enable users to connect their token assets across the chain with a smart contract connector, obtain timely and accurate quotes for liquid tokens, and perform buy and sell operations.
The Pros Swap concept has been demonstrated and is now in the execution stage, and it is certain that the Pros Swap will be the first successful project in the Pros Chain to wow the industry.
From Pros Finance decentralization financial success, to the bold attempt of Pros Chain with cross-chain characteristics, and to the Pros Swap of perfect practice, team development route is clear and the feasibility is strong, each step slowly but surely, efficient and scientific works. It will surely be products labeled with Pros and it is the best time for users hold PROS.