2021 Shanghai International Blockchain Week Recap

It’s been two weeks since our Shanghai International Blockchain Week event. It was terrific, and we had lots of offline interactions over that week.

The Wangxian organized conference was on, and the main stage included Vitalik Buterin, Gavin Wood, and Dominic Williams. However, all the attention of the crypto insiders was at the smaller events. Over the week, many projects had events; some of the most notable were the Avalanche event, the Dfinity event, the Polygon, and the Chainlink events. But, of course, our event was the most special to us, and it turned out to be very meaningful. As the crowd gathered to enjoy an exciting evening, we noticed our preparations were paying off. It was our second event at our 2ØY Club, and we were excited to see people feeling enchanted by our club all over again.

During our first event opening, The 2ØY Club, we enjoyed the company of many crypto OGs. The Shanghai community has always been very supportive of the crypto space and continues to be. Here is a shot from that magical night in Shanghai.

At our second event, we launched The Unit as an independent project. As we continued establishing The Unit as the next unit of value, we encountered many questions and attempted to answer them here. Here are some FAQs we collected from the two events:

Q1. Defi is 100% USD. Why is that a problem?

A1. First of all, USD is a centralized currency without transparency, consensus, or verifiability.

Secondly, it is an off-chain closed source world currency detached from the crypto space and not representative of the crypto universe.

Not to mention USD is hyperinflated; thus, it distorts people’s perception of value.

Q2. What are the benefits of The Unit？

A2. First of all, The Unit is decentralized with completely transparent algorithm governance on the Ethereum blockchain; it is rules-based and governed by the community.

Secondly, it is not pegged to fiat currencies. Why is that better? Because it captures the movements of the market more directly and intuitively.

The Unit is a much better benchmark that funds and defi projects will be interested in since it shows the actual value of the crypto market.

Q3. What is the token utility?

The Unit governance token will be used to govern the algorithm. It also will be used to balance The Unit Index fund, the first crypto index fund rewarding its LPs.

Airdrop rewards for defi governance contributors are starting soon. Here is our first proposal discussion on the Uniswap forum. Follow the Uniswap forum and join our discord to vote on the upcoming proposal rounds.

Q4. What is the connection between The Blocktree and The Unit? For example, is a token in The Unit transferable to a coin in The Blocktree?

A4. The Blocktree and The Unit are the two projects we are working on under the 2ØY organization. If you hold The Unit governance tokens, you’ll be rewarded with The Blocktree coins 1 to 1. At some point, there will be a snapshot of the holdings of The Unit governance token, and holders will be rewarded.

The video of our presentation at the event is on Youtube. Thank you, everyone, for the fantastic support! Until next year Shanghai International Blockchain Week!

Don’t forget to join the 2ØY Community:

Our site: https://20y.org/

Twitter: https://twitter.com/20Y_org

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Forum: https://forum.20y.org/

Source: https://blog.20y.org/2021-shanghai-international-blockchain-week-recap-89a44736e013?source=rss——cryptocurrency-5