币圈模式币简史——万字长文梳理币圈“模式”的前世今生

欧易(OKX)最新版本

【遇到注册下载问题请加文章最下面的客服微信】永久享受返佣20%手续费！

APP下载   全球官网 大陆官网

币安(Binance)最新版本

币安交易所app【遇到注册下载问题请加文章最下面的客服微信】永久享受返佣20%手续费！

APP下载   官网地址

火币HTX最新版本

火币老牌交易所【遇到注册下载问题请加文章最下面的客服微信】永久享受返佣20%手续费！

APP下载   官网地址

无论是哪种数字货币，可以肯定的是，随着摩根大通、Facebook等国际企业开始发行数字货币，国家发行数字法币，"数字货币"这一新兴事物越来越获得了市场的关注，也得到了社会的认可。当传统市场经济与币圈原生经济碰撞的时候，必将会产生巨大的火花，如何在这样的机会中借势起飞，来到社会大众的面前，才是所有区块链企业需要思考的问题。

Whatever digital currency is, it is certain that, as international firms such as Morgan Chase, Facebook, and others begin to issue digital money, the country issues digital currency, and the emerging issue of "digital currency" is gaining market attention and social recognition. When traditional market economies collide with the raw economy of the currency ring, there will surely be huge sparks of how to take off in such an opportunity to come to the eyes of society as a whole.

最近两周，大量的区块链行业从业者来到深圳，参与各种大会，虽然没有上海或者硅谷"区块链周"这样的噱头，但各地从业者扎堆似地不约而同出现在深圳，颇有蹊跷，因为这是17年行业爆发以来一直少有的事情。大多时候，大家来深圳开一场会，讲完就走，不留下一点留念。这次不一样，短则一周，长则就地开始搭建深圳团队，问及他们为何都来深圳时，很多人会回答："来学习模式，找社区合作。"如果说北京上海两个城市因为项目方和投资机构的聚集而形成了独特的币圈文化，深圳这座城市并没有在币圈给人留下太深圳的印象，或者说留下的印象并不太好。大多数人来深圳，不过是为了中转香港，或者去华强北批发矿机。而这次不同，深圳因为其深厚的ZJP资源，在两个圈子融合的时候，吸引了一大批人"前来取经"。

In the last two weeks, a large number of industry operators have come to Shenzhen to participate in conferences and meetings, and while there are no headlines like Shanghai or Silicon Valley's Block Week, it is strange that practitioners from all over the country have been present in Shenzhen, because it has been rare since the beginning of the industry in 17 years. Most people have come to Shenzhen to have a meeting, to leave without any memory. This time, many people have started to build the Shenzhen team just a week later, asking why they have come to Shenzhen, and asking them why they have come to Shenzhen: "Come to learn the model, to find community cooperation." If two cities in Beijing have a unique currency culture because of the confluence of the project side and the investment agency, the city in Shenzhen has not made an impression in the currency ring, or have a bad impression. Most people have come to Shenzhen, but for the purpose of moving to Hong Kong, or to go to China, North, and this time has been different, because of its deep ZJP resources, they have attracted a large group."

今年初，低迷的币圈迎来了两个新的玩法：共振币和IEO。IEO是只有头部交易所和羊毛党/平台币大户才玩得转的东西，而共振币不同，这个人人都能参与的"模式币"因其带来的造富效应，在币圈逐渐蔓延开来。

, at the beginning of the year, two new ways of playing the low currency circle: the resonance currency and the IEO. Unlike the resonance of the currency, which everyone can participate in because of its enrichment effects, IEO is a front exchange and a wool party/platinum bank account.

根据灰度投资5月份的数据，73%的机构投资人占比和其94%的比特币仓位占比，可以推论出从3月份开始启动的比特币牛市是由于机构投资人入场带来的增长，大多数散户都踏空了这一轮行情，散户急需找到一个新的"投资（机）标的"，来重新夺回属于自己的收益。

According to the May figures for Grayscale investments, 73 per cent of institutional investors were in ratio to their 94 per cent Bitcoin warehouse, and it can be deduced that the Bitcoin cow market, which began in March, grew as a result of the presence of institutional investors, and that most of the scattered households had emptied the cycle and urgently needed to find a new "investment mark" to regain their own gains.

高风险高收益的"模式币"这个时候就映入了散户的眼帘。山寨币缺少持续的造血功能，资金不断流失，即使比特币上涨，跌了100倍的山寨币也很难翻身，最后似乎就只剩下了"走模式"这一条路。

The high-risk, high-yield "moderate" is now visible in the eyes of the homeless. The mountain coins lack continuous blood-producing functions, the money is losing, even if bitcoin rises, it is hard to turn over a 100-fold fall, and it seems that the only way to go is to walk the mode.

模式币的前世今生

Model Currency >

3M和ETHTrade

3M and ETHtrade

模式币这个词虽然是今年诞生的新词，但模式本身在币圈已经有久远的历史，其早期的代表就是使用比特币来参与的"3M"和使用以太坊参与的"以太坊贸易"。

Although the term model currency was a new term that was born this year, the model itself has a long history in the currency circles, and its early representatives are "3M" using bitcoin to participate and "Etheria Trade" using Etheria to participate.

"MMM"全称是马夫罗季全球储蓄罐(Mavrodi Mondial Moneybox)，1994年首度出现在大众视野中，以承诺高收益吸纳群众资金，于1997年宣布破产(跑路)。2011年，出狱的马夫罗重操旧业，开始了新一轮的"金融互助"非法集资。2015年，3M进入中国，借助其"金字塔"模式在中国迅速蔓延，并支持以比特币支付。 "使用比特币而不是传统货币，会更有利、更快、更安全"。其巨大的影响力让比特币的购买力大增，在那个"暗无天日"的熊市，居然推动了比特币从2015年9月份的不到200美元，飙升到11月份上旬超过500美元。

"MMM" – known as Mavrodi Mondial Monneybox – first appeared in public view in 1994 to commit high revenues to absorb mass funds and declared bankruptcy in 1997 (run). In 2011, the ex-prisoner Mavro resumed his old business and started a new round of "financial mutual assistance" illegal fund-raising. In 2015, 3M entered China, rapidly spreading in China, using its pyramid model, and supported payment in Bitcoin. "The use of bitcoin, rather than traditional currency, would be more advantageous, faster and safer.

2017年，以太坊上出现的以太坊贸易也是这样的套路，虽然以太坊作为一个POW币，本身并没有任何的模式，但使用以太坊进行出入金，助长了以太坊贸易迅速的发展。

In 2017, this was also the case for the Etherton trade, which, although it is not a Pow currency in itself and has no pattern, was facilitated by the use of Ether gold for entry and exit.

但是，ZJP本身并不会创造生产力，承诺的高收益正是因为其使用后面参与的人的资金来填补前面参与的人的资金空缺，最终，当整个盘子越来越大的时候，必然出现资金无法承兑的情况，团队跑路，投资人血本无归是一条非常清晰的路线。3M和ETHTrade的崩塌是必然的，很多人也知道这个道理，却希望去赌自己不会接最后一棒。但是，庄家在暗处，散户在明处，既然想在刀尖舔血，那就怪不得随时可能落下的断头铡。

ZJP, however, does not create productivity by itself, and the high returns promised are precisely because it uses the funds of those behind it to fill the financial voids of the previous participants. Ultimately, when the entire plate is growing, it is inevitable that the funds cannot be held up, that the team runs, that the investor's blood is lost is a very clear route. The collapse of 3M and ETHtrade is inevitable, and many people know it, but wish to bet that they will not take the last bullet.

分红模式（ANS和GXS）和回购模式（BNB）

splits (ANS and GXS) and buybacks (BNB)

"模式"原本是一个中性词，直到最近"模式"才和"ZJP模式"划了约等号。如果讲区块链本身，确实没有任何"模式"可言，但加上"TokenEconomics"代币经济以后，模式的出现就不可避免了。为了让持币者持续"Hold"，二级市场的交易者有购买需求，必然需要一些留住投资者的激励机制。BTC/ETH为首的原生加密货币并没有太多相关的思考，只有一个简单的升值逻辑——网络价值效应，使用的人越多，其代币越有价值。但是对于一个诞生初期的数字货币来说，如何获得种子用户，在早期就吸引大家去购买，是一个值得探讨的命题，为此，山寨币们不得不绞尽脑汁。

"Mode" was a neutral term until recently, when the "Mode" and "ZJP Model" were equated. If there was no "mode" in the block chain itself, but when the "TokenEconomics" were added to the currency economy, it was inevitable that the model would emerge. In order for the second-tier market traders to have a "Hold" to continue, some incentive to retain investors would certainly be needed. The BTC/ETH original encrypted currency had not had much to do with it, and there was only one simple logic of appreciation — the value of the network, the more people to use it, the more valuable it was.

2016年，小蚁股（ANS）带领了一阵"分红模式"的热潮。在那个草莽年代，数字货币还没有今天的影响力，也就并没有Security Token和Utility Token的分别，ANS带领的诸如（公信宝）GXS等一票数字货币都借鉴了股票的模式，将公司的利润给持币者分红。合规？不存在的，所有的玩法都处于灰色地带，而这些分红币们也因此获得了第一桶金。

In 2016, the ANS led a wave of "segregation patterns." In that rash age, digital currencies were not as influential as they were today, nor were there any differences between Security Token and Utility Token. The ANS led a number of digital currencies, such as the GXS, that drew on the stock model, and rededicated the company’s profits to its currency holders. Compliance: where they did not exist, all the games were in the grey zone, and the red coins received the first barrel of gold.

但随着2017年数字货币市场大牛市的来临，资金的涌入，监管机构开始逐步审查这些上线的数字货币。SEC等众多监管机构对证券型的代币提出了明确的监管要求，这让这些带着分红属性的数字货币不得不改变其分红模式。至此，ANS改名NEO，GXS改名GXC，都去掉了名字中的Share一词，重新设计了代币经济模型，改成较为隐晦的"回购模式"。

But with the advent of digital money markets in 2017 and the influx of money, regulators began to gradually review these up-to-date digital currencies. A number of regulators, such as the SEC, imposed clear regulatory requirements on securities-type tokens, which forced these digital currencies with red-dimension properties to change their red-dimension patterns. So, ANS changed its name to NEO, and GXS changed its name to GXC, removing the name Share from its name, redesigning the intergenerational economic model and changing it to a more subtle "buy-back model."

另一个横空出世的是币安交易所的平台币BNB。不知道币安是不是首创了交易平台发行平台币融资的模式，但毋庸置疑的是，这一模式随后被众多交易所纷纷效仿，而两年后他们已经通过平台币做到了世界第一。2017年6月24日，币安开始在官网进行爱西欧，价格约为为0.1 USD/BNB。BNB作为一个功能性代币，却有较强的基本面支撑。

Another example is BNB, the currency exchange's platform currency. It is not clear whether currency security is the first model for the distribution of platform money financing, but it has been followed by many exchanges, and two years later they have been world leaders through the platform currency. June 24, 2017, the currency began to love Western Europe on the Official Net at a price of about 0.1 USD/BNB.

每个季度，币安将拿出20%的利润对BNB进行回购销毁，这让BNB与交易平台本身的收益情况深深联系在一起。虽然取巧地使用回购来避开监管，但本质与分红别无二致，且通缩的代币经济模型在对币价的拉升上有更强的效应。后期币安给BNB赋予了更多使用功能，抵扣手续费，参投LaunchPad，使用BNB支付，上线币安链，搭建DEX等等，给BNB带来了巨大的增值效应，BNB也因此一跃成为了市值排名前十甚至前五的数字货币。

Every quarter, BNB will be repurchased and destroyed with 20% of its profits, which makes BNB strongly linked to the profit profile of the trading platform itself. While repurchases are conveniently used to avoid regulation, they are no different in nature from red, and the deflationary economic model has a stronger effect on the price of the currency.

交易即挖矿

OK出走的CTO 赵长鹏带领币安从零做到第一，屁股还没坐热，就有火币前前CTO张健建立Fcoin来挑战这个位置了。

OK, CTO Chang Peng leads the way from zero to the top, the ass is still hot, and there's the Fcoin set up by the former CTO Chang Ken to challenge the position.

2018年6月，Fcoin推出"交易即挖矿"，瞬间引爆了市场。所谓交易挖矿，即用户交易消耗的手续费会给予其返还等值的平台币FT，FT可获得全网交易手续费的分红。这样用户就会大量地刷交易量，以大量支付手续费获得低价的FT，期望获得更多交易所的分红。交易挖矿虽然非Fcoin首创，但却引领了市场的风向，一时，市场交易所四起，并纷纷采用了"交易即挖矿"的机制，交易量一度冲到了世界第一。这也第一次让币安、火币、OK联合起来，抵制这些刷量的交易所，号称要开100、1000个交易所与之对抗。

In June 2018, Fcoin introduced the word "trading or mining" that triggered the market. The so-called transactional mining fee, i.e. the user's transaction consumption fee, would return the equivalent of the platform currency, FT, and the transaction fee would be paid back. The user would be able to draw up a large volume of transactions to obtain a lower price of FT at the expense of the process, hoping to obtain a larger share of the exchange. The transaction, although not started by Fcoin, led the market to four times, and the market exchange, which used the "trading or digging" mechanism, which was once the world's number one.

我们当时写了一篇文章，Fcoin:三天涨了50倍的交易所，日交易额已超火币

We wrote an article, Fcoin: Three days of a 50-fold increase in the exchange, and the amount of the day's trade went beyond the gun.

我们预测FT将螺旋上升，到一定阈值后进入螺旋下跌的趋势。果不其然，在6月18号这天，FT崩盘，开始了永无止境的跌势，直到最低点，其价格跌去了99%。

We predict that the FT will spiral up to a certain threshold and enter a downward spiral. No, on June 18, the FT crashed, and it started to fall forever, until the lowest point, where prices fell by 99 per cent.

Fcoin的问题在于没有真正的交易用户，所有的用户都是为了FT而来，并非想要参与交易本身。如果一个赌场所有的赌客都是为了性感荷官而来，一定比不过那些真正留存了赌客的赌场的。不过Fcoin或者说龙网创造的交易挖矿也给行业带来了巨大的意义：让用户成为股东去拉人头，不失为一个绝好的推广裂变模式。这样的模式有了数字货币的加持变得简单可操作，"XX即挖矿"而后成为了币圈一个广为借鉴的范式。

The problem with Fcoin is that there are no real trading users, all of whom come for the FT, not for the transaction itself. If all casino gamblers come for sexy cashiers, it's no better than those who actually keep gamblers.

FOMO3D

7月20日，一款名为Fomo3D的游戏一夜之间在币圈炸开，凌晨4点的微信群因为这个游戏的火爆变得热闹非凡。FOMO是Fear of Missing Out的意思，指一种害怕错过的情绪。正是因为大多数人有这样的情绪，追涨杀跌才成为散户们交易的常态，而这个名字就叫FOMO的游戏也正式利用了人们这样的心理。

On July 20, a game called Fomo3D blew up overnight in a currency ring, and the micro-message at 4:00 a.m. became rife by the fire of the game. FOMO is the word of Missing Out, which means a feeling of fear of missed. It is because of the emotions of most people that chases and falls into the middle of the deal that the game is officially using people's minds.

该游戏的核心玩法是网页中间有一个24小时的倒计时，系统会售卖一种持续涨价的Key，每有一个人购买Key，这个倒计时就会增加20秒的时间（24h封顶）,直到最后一个人的出价后倒计时结束，该人就会获得整个奖池的奖金。游戏在一天之内就积攒了10000个ETH，价值3000万人民币，而让玩家如此疯狂的原因有两点：

The core game of the game is that there is a 24-hour countdown between the web pages, where the system sells a Key that continues to increase prices, and each person buys a Key, which adds 20 seconds to the countdown (24h caps) until the last person closes the countdown, and the person gets a bonus from the entire pool. Within a day, the game has 10,000 ETHs worth 30 million People's Dollar, and there are two reasons why players are so crazy:

1. 1.持有Key的数量在所有Key的占比，将获得新增资金的分红，如果在早期购买大量的Key，该游戏后续的增量资金都将给你大量分红。

1. Holding the number of Keys as a proportion of all Keys will receive a fraction of the additional funds, and if a large number of Keys are purchased at an early stage, the subsequent incremental amount of the game will give you a substantial share.

2. 2.新用户通过邀请链接注册，将给10%的佣金给到邀请者。

2. New users register through an invitation link, giving 10 per cent of the commission to the invitee.

3. 3.所有的规则放在了以太坊的智能合约上并且开源，也就是说该游戏没有开发商跑路风险。

3. All the rules are placed on the Etherm's intellectual contract and open-source, that is, the game does not involve the risk of a developer running the road.

第三点是区块链赋予这个游戏最重要的特性，一个去中心化的ZJP让大量的玩家为之着迷——终于没有了庄家，是时候去大赚一笔了。

The third point is that the block chain gives this game its most important character, with a decentralized ZJP that fascinates a large number of players — finally without a dealer, it's time to make a fortune.

然而，最终这些希望大赚一笔的人希望却落了空。根据DAppreview的文章，你玩的Fomo3D跟我玩的可能不太一样？，整个游戏仅有20%左右的玩家获得盈利，其他玩家多少都是亏损，完美满足了二八定律。

In the end, however, the hopes of those who want to make a lot of money are dashed. According to Dappreview, the Fomo3D you play is not the same as me. Only about 20% of the players in the game get a profit, and the rest of the players lose a lot, perfecting the 28th rule.

然而，这个去中心化的ZJP与传统ZJP最大的区别也成了这个游戏短时间爆火却又迅速冷却的原因，传统的ZJP你只知道你的上下级关系，并不知道整个奖池的资金量和入金速率，只能看到庄家想让你看到的洗脑信息。FOMO3D则不同，所有的信息在链上公开可查，所有的玩家都可以查到，要有多少的资金增量才能保本退出，而每个人入场后，奖池的资金规模需要增长到当前的数倍才能获得盈利。当这个数量逐步增大，而资金增速减缓的时候，玩家知道这个时候进场已经很难获得利润，那也就是这个游戏死亡的时候。

However, the biggest difference between the decentralized ZJP and the traditional ZJP is also the reason for the short-time explosion and the rapid cooling of the game. The traditional ZJP only knows about your lower-level relationship, you don't know the size of the pool and the rate of entry, and you can only see brainwashing information that the dealer wants you to see. Unlike FOMO3D, all the information is publicly available on the chain, and all the players can find out how much more money is needed to secure their exit, and when everyone gets in, the pool will need to increase several times as much as it does.

大家万万没想到的事，FOMO3D的结束是因为黑客的粉尘攻击拥堵以太坊网络，让玩家无法再加注，最终拿走了1万ETH的奖金。

The end of FOMO3D came from the hacker's dust attack on the Etheria network, which prevented players from raising any more stakes and eventually took 10,000 ETH prizes.

Plustoken钱包

Plustoken Wallet >/strong

12万BTC，800万ETH，还有不计其数的XRP, EOS, LTC, BCH，总共300亿的金额，直到今年6月Plustoken崩盘，人们才对这个数字货币历史上最大的ZJP有了清晰的认识，而每一次Plutoken的钱包发生异动，都会引发市场的恐慌式暴跌。

One hundred and twenty thousand BTCs, eight million ETHs, and countless XRPs, EOS, LTC, BCHs, amounting to 30 billion dollars, until the Plustoken crash in June this year, it was not clear that the largest ZJP in the history of this number was known, and every time Plutoken's wallets changed, it triggered a panic crash in the market.

Plustoken始于2017年，宣称自己是一个钱包，只要存入资金，就会给你每个月返10-30%的利息。利息的来源是因为钱包内置了"智能狗"搬砖功能，可以自动用你的资产在不同交易平台之间进行套利交易。然而，熟悉量化交易的朋友都直到，简单的套利交易根本不可能在这个市场获得如此高的收益，尤其是在市场涌入大量量化机构后，单纯的搬砖套利已经无法达到10%的年化收益，即使加上期现、跨期、三角套利等策略，年化收益能达到50%已经是远超市场水平了，还有各种系统性风险和黑天鹅事件可能带来的回撤。所以Plustoken宣传的高额收益本质上并无实际资产收益支撑，只能是通过庞氏骗局让后面进场的人给前面的人补贴。

Plustoken began in 2017, claiming that he was a wallet and, as long as the money was deposited, would give you 10-30% interest per month. Interest was derived from the fact that the wallet had built "smart dogs" to move bricks, allowing for automatic arbitrage between different trading platforms using your assets. However, friends familiar with quantifiable transactions until the simple arbitrage did not make it possible to earn such a high return on the market, especially since, after the market had poured into a large number of quantitative agencies, it was impossible to achieve an annualized gain of 10% by simply moving bricks, even if combined with strategies such as currents, inter-periods, triangulations, and so on, 50% of annualized gains were already well above market levels, with systemic risks and possible withdrawals from the Black Swan event.

可能Plustoken的创始团队自己都没想到，最终这个盘子做到了这么大。以至于你去三四线城市走一圈，可能他们并不知道imtoken、Jaxx、tokenpocket这些币圈的钱包产品，但却知道Plustoken普拉斯，或者其他仿盘"xxxxtoken"钱包。在这些人的思维中，钱包就应该是放钱进去获得利息的，至于我们常说的"私钥的管理工具"，Who Care？

Maybe Plustoken's founding team didn't even think that the plate was this big. So you go around the three-to-four-line city, maybe they don't know the wallet products of these coin rings, but they know Plustoken Plass, or other counterfeit "xxtoken" wallets. In these people's minds, the wallets are supposed to be put in the money to get interest, as we used to call "the management tool of the private key," who Care?

贝尔链/Egretia

Bell chain/Egretia

2018年，数字货币市场在到达了顶峰以后开始急速下跌，虽有些许反弹，但一整年的大势就是"跌跌不休"，让无数人从期望到失望，失望到绝望。BTC从年初近2万美金到年底一度跌至3000美金，而其他山寨币更是相对于BTC还跌去了90%。在这样的环境下，贝尔链横空出世，发行价$0.15 的BRC在2018年年底已经达到了$1.5，涨了10倍不止，踏过熊市的沟壑之后，2019年BRC最高达到$17，流通市值达到18亿美元，一度成为市值TOP10的数字货币，成为名副其实的"百倍币"。

In 2018, the digital money market began to fall sharply after reaching its peak, and although there was some rebound, the overall trend of the year was to "fall and fall" from hope to disappointment and despair to despair for countless people. The BTC fell from almost $20,000 at the beginning of the year to $3,000 at the end of the year, while other bounties fell by 90% compared to BTC. In this environment, the Bell chain came out, and the BRC, with its issuance price of 0.15, rose by 1.5 times, by more than 10 times at the end of the year, after stepping through the ravaging of the bear market, in 2019 BRC reached $17, with a market value in circulation of $1.8 billion, which was once the market value of ToP10 digital currency, which became the 100 times greater.

根据贝尔链官网简介，Baer Chain是基于区块链技术构架打造的分布式游戏生态平台。它以去中心化的结构，直接将整个游戏生态链上的组成分子有机地链接起来，实现个体价值的直接对接、无损流通和安全存储。你以为贝尔链是一个纯粹的区块链项目？非也，能让它逆势而起，纵横币圈的，正是他的盘圈基因。

According to the Bell Chain Network, Baer Chain is a distributed game ecological platform based on the technical architecture of the block chain. It is a decentralized structure that organically links the constituent elements of the entire ecological chain of the game to achieve direct matching, uninterrupted circulation and safe storage of individual values. Do you think the Bell chain is a pure block chain project?

参考DOGI写的文章：半年吸金52亿，贝尔链的黑庄往事，贝尔链开发了两款游戏，《超级富豪》和《环球城》，官方承诺，充值用户可以根据充值金额的高低，在90~120天内回本并开始盈利。每年获得3~4倍甚至更多的回报。

Reference is made to an article by DOGI: Half-yearly, $5.2 billion in cash, history of the Bell chain, two games developed by the Bell chain, Super Rich and Global City, with an official commitment that a full-value user can return it within 90 to 120 days and start making a profit. Three to four times and even more returns every year.

实现的方式是，用户投入以太坊，而官方以自己的数字货币BRC进行支付。

This is achieved through the input of users into the Taiku and official payments in its own digital currency, the BRC.

"由于锚定以太坊价值回本的时间是锁定的，所以会发生以下情况：

. "As the mooring is locked at the time of the return of the Tai Po's value, the following can happen: .

当BRC价格上涨时，玩家获得的BRC数量将变少；

When BRC prices rise, the number of BRCs acquired by players will decrease;

反之当BRC价格下跌时，玩家将获得更多的BRC。

On the other hand, when BRC prices fall, the player will get more BRC.

这一有趣的设定给了官方一个完美的宣传话术：

This interesting set-up gave the official perfect propaganda:

如果BRC上涨的话，你可以高价出售手中的币，赚更多的钱；

If the BRC rises, you can sell your money at a higher price and make more money;

如果BRC下跌的话，也没关系，你可以获得更多的BRC，等以后上涨的时候可以赚更多。

If the BRC falls, it doesn't matter, you can get more BRC, and you can earn more when it rises.

这一巧妙的设定，使得很多商铺持有人在币价下跌时也非常开心。"

This clever setup makes many shopkeepers very happy when the price falls."

而能够这样操作的核心，在于BRC由官方发行，且由于高度控盘，BRC的价格被庄家高度控制。价格拉高后，市场上BRC的新增流通量也会减少。随后，贝尔链发行了《超级战士》这款游戏，玩家可以用BRC购买道具在游戏中消耗，同时开展了超级节点计划，这些也减少了官方在二级市场上回购BRC的压力。减少供应，增加需求，这让BRC的价格不断被抬高，庄家顺利震荡出货。

The core of this operation lies in the fact that the BRC is officially issued by the government, and the prices of the BRC are highly controlled by the bankers because of the high-level controls. When the prices rise, the new circulation of the BRC in the market will decrease. Then the Bell chain issues the game of Super Warriors, which can be used by players to buy props to consume in the game, and the supernode scheme, which reduces the pressure on the official to buy back the BRC in the secondary market.

如今，贝尔链的价格已经呈现了崩盘趋势，相对于顶峰已经跌了80%,我们回去看当初贝尔链在各地地推时的口号"贝尔10万才开始"，贝尔到10万我们应该是见不到了，但亏了数十万的人却比比皆是。

Now that the price of the Bell chain has fallen by 80 per cent relative to the peak, let's go back to the slogan "Bell 100,000 didn't start" when the Bell chain was pushed everywhere. From Bell to 100,000, we should not have seen it, but hundreds of thousands of people lost it.

同时，也有一些区块链项目在看到贝尔链异常火热的时候，选择了学习模仿，其中最为成功的莫Egretia莫属。这个做游戏引擎的区块链项目在市场寒冬中开发了几款游戏，都不温不火，直至今年3月份推出《巨商》，引入了仿贝尔的出入金模式，一炮而火。其代币EGT的价格从0.00026 USDT一直涨到0.1 USDT，翻了300多倍，造就一段传奇。

At the same time, there are block-chain projects that choose to learn to imitate when they see Bell's chain of abnormal heat, the most successful of which is the Mogretia. This block-chain project, which is an engine of games, developed a few games in the cold winter of the market, unheated until March of this year, when it introduced a model of Bell's entry and exit gold, with one shot at the fire. The price of its token EGT rose from 0.00026 USDT to 0.1 USDT, which was more than 300 times higher, creating a legend.

正是EGT带来的价格效应，给市场上众多低迷的数字货币仿佛指出了一条明路——既然正路走不通，不妨试试别的路子。

It is the price effect of the EGT that gives a clear path to many of the market's depressed digital currencies — and since the road cannot be straight, try something else.

区块链游戏和DApp

block chain game and Dapp

与贝尔链上中心化的游戏不同，2018年掀起的另一股热潮是区块链游戏。2018年也被称作公链的元年，众多公链的主网纷纷上线，EOS，Tron，本体网络，IOST，但是光有底层架构，没有应用怎么办？人们开始把炒作热点开始瞄准最容易让大众接受的DApp(去中心化应用)——区块链游戏。

Unlike the bell-based games, another hot tide that started in 2018 was the block-chain game. In 2018, also known as the year of the public-chain, the main networks of the public-chains went online, EOS, Tron, the home network, IIST, but there was no bottom-of-the-wall structure. What if people started to focus on the hot spots that were most acceptable to the public?

第一次在市场引爆的区块链游戏是《加密猫》/谜链猫，回头看来，你大可以认为这就是区块链化的ZJP游戏。加密猫是一个击鼓传花的游戏，玩家可以在市场上用ETH购买属于自己的加密猫。这个加密猫实质是一种非同质化代币，每一只猫有独特的代码，全世界独一无二。而这样的猫除了收藏之外，可以繁殖，生出拥有更多稀有属性的猫，还可以以更高的价格卖给别人。有创造实际上的应用价值吗？没有，但只要炒的人多了，自然会有价格。对于一双成本几百块的鞋子，炒作上万元，也远远不是其实用价值可以比拟的。

The first block-chain game to be detonated in the market is The Encrypted Cat/System Cat, which you can think of as a block-chained ZJP game. Encrypted cat is a game that hits flowers, and players can buy their own encryption cat on the market with ETH. This encryption cat is a non-homogenous token, with unique codes for each cat, unique in the world. In addition to a collection, such cats can reproduce, produce cats with more rare attributes, and sell them to others at a higher price.

加密猫后有众多模仿它的游戏，加密名人，加密国家，皆是这样"击鼓传花"的模式，而这些游戏的道具，无一例外最后都烂在了玩家手里。不过至少还能留作纪念，这个NFT永远留在了他们的钱包里。

The encrypt cats have a lot of games that imitate them, encryption celebrities, encryption countries, all of which are like this, and the instruments of these games, without exception, end up in the hands of the players. But at least they can be remembered, and the NFT is always in their wallets.

DApp在2018年底重新爆发，是由于去中心化菠菜平台。根据DAppReview的数据，2018年Dapp上的资金流水为336亿人民币，大部分都是因为年底Dapp爆发后在EOS和Tron上产生的。80天80亿，寒冬下的暗流涌动——你所不了解的EOS DApp生态大爆发

Dapp re-emerged at the end of 2018 because of a central spinach platform. According to DappReview, the flow of money on Dapp in 2018 was 33.6 billion yuan, mostly due to the explosion of Dapp at the end of the year on EOS and Tron.

去中心化菠菜游戏除了能保证资金安全，规则透明等区块链的优势外，EOS和Tron主网上线带来的上千的TPS让这样高频的游戏变得可玩起来。但真正让菠菜游戏爆发的，是因为其最大的核心亮点
"赌博即挖矿"。这是对前面提到的Fcoin玩法的一种延展：菠菜平台凭借其庄家优势，玩家通过大量的刷单，亏损的价格菠菜平台会予以平台币补偿玩家。这是一种变相用EOS购买平台币的方法， 购买平台币以后，投资人可以获得平台的分红，到代币上线Newdex等去中心化交易所后，投资人可以选择持有继续等待分红，或者在交易所抛售。

In addition to the advantages of the block chain, such as financial security, transparency of rules, EOS and Tron's main web line, which brings thousands of TPSs to make the high-frequency games playable. But the fact that the spinach game really breaks out is because its biggest bright spot
is gambling is mining. This is an extension of the previous Fcoin game: the spinach platform, based on its owner's advantage, will be compensated by a large number of brushers, and the lost spinach platform will be sold at a price. This is a way to use the EOS to buy the platform's currency. After purchasing the platform's currency, the investor will receive the platform's bonus, and after going to the central exchange, like Newdex, the investor can choose to hold it and wait for the bonus, or sell it at the exchange
.

DApp的高光时刻是今年6月币安LaunchPad上线WINK，其前身就是Tron上最大的菠菜游戏Tronbet。我们写的文章：WINk：我从山中来，欲成修罗身 对这件事进行了解读。

The high-lighting moment for Dapp is June of this year, when LaunchPad was on the line of Wink, the predecessor of the biggest spinach game on Tron Trombet. We wrote: Wink: I came from the mountains and wanted to be a man to read about it.

值得一提的是，大部分DApp的存活周期在两周左右，原因在于留不住真实的赌客，大部分玩家进入只是为了炒作一波平台币，当热度不再时，迅速就会崩塌。而WINk运营至今，最大的原因也正是因为，有大量真正的赌客持续在给平台供血。持续的外部供血，也正是ZJP唯一的破局之道。

It is worth mentioning that most Dapps have a life cycle of about two weeks, because they cannot keep a real gambler, and most of the players enter only to make a wave of platform coins, and when the heat is gone, it collapses quickly. The biggest reason why Wink has been operating so far is that there are a lot of real gamblers that continue to feed the platform.

VDS

VDS是2019年诞生的新星，同样这也是一个诞生于盘圈，却轰动了整个币圈的产品。与其他项目大多会曝光创始团队以获得信用背书不同，VDS的官网放在暗网之上，大多数人只能通过微信群口口相传的白皮书和共振规则来了解它。

VDS is a new star born in 2019, and it is also a product that was born in a circle of circles, but that sensationalizes the entire currency circle. Unlike most other projects where the founding team is exposed to credit endorsements, VDS’s network of officials is placed on the dark web, and most people can understand it only through white papers and resonance rules transmitted through the mouths of the micro-messets.

VDS的规则，最广为传之的是"共振"和"信任钢印"。何为共振？是一个持续用比特币在一级市场单向购买代币Vollar的过程。何为信任钢印？就是金字塔推荐裂变模型。

VDS rules, the most widely publicized, are "resonance" and "trust steel print." What is a resonance? It's a process of continuing to buy token Vollar in first-level markets single-way with bitcoin. What is a trust stamp? That's the pyramid that recommends fission models.

用大白话解读一下，这是一个充钱买币，发展下线的玩法。项目方的宣发资料充满着神秘感，各种高大上的名词，带着"V字仇杀队" 面具的神秘人，流利的英语，让很多小白为之着迷。

真正推动它在币圈蔓延开的，还是高涨的代币价格。从最初的3块5块，涨到最高的80块，初期入场的玩家赚的盆满钵满。甚至VDS还带火了MXC抹茶交易所，让这个曾经三四线的交易所一跃成为二线交易所的龙头。

Even VDS has set fire to the MXC tea exchange, making the former three- or four-line exchange the leader of the two-line exchange.

当我去问一个币圈的朋友，为什么要玩这个明显是ZJP的项目的时候，他告诉我，"这项目有逻辑缜密的白皮书，精致的宣发资料，功能强大而极其流畅的主网钱包（Vollar是一个主网币），陆续上线的新玩法，还有一飞冲天的价格，比大多数归零的区块链项目强多了，你告诉我凭什么去玩那些空气币？"顿时我哑口无言，只能求这些区块链项目们多努努力。

When I asked a friend of a currency circle why he was playing with a clearly ZJP project, he told me, "This project has a logical white paper, a sophisticated announcement, a powerful and extremely fluid wallet (Vollar is a main net dollar), a new way to go online, and a price that is much better than most zero-to-zero block chain projects, and you tell me how to play those air coins?" When I was quiet, I had to ask for more of these block chain projects.

随着VDS的火热，众多"XDS"应运而生，有用LTC、EOS的，也有用BNB，HT的，但好像确实没有用ETH的，可能是因为，用ETH的叫1CO吧。

With the heat of VDS, a lot of "XDS" were created, using LTC, EOS, BNB, HT, but it does not seem to be using ETH, probably because it's called a CO.

Staking模式

Staking Mode

It's true that there's a certain difference between the strong and the governance mechanism. It's because the decentralised governance mechanism that has been able to develop so far has ensured the uniqueness of the decentralised account book, whether PoS or PoW, at its core, in order to preserve it. We talk about many models, but if we forget the original purpose of decentralisation, simply to pursue the so-called benefits or the currency, it's the cerebral order.

从2012年sunny king创造点点币，至今PoS已经走过了7个年头。各个项目提出了各种PoS机制的变种，EOS的DPOS-BFT，DASH的双层网络机制，以太坊探索的Casper，都是为了保证系统的可拓展性、安全性和去中心化所做出的努力。同样，我们也赞成，一定程度的通货膨胀更有利于货币的流通。

Seven years have passed since the year 2012 when Sunny King created the dots, and PoS has done so. Projects have proposed variations in various PoS mechanisms, GEOS-BFT, DASH's two-tier network mechanism, and Casper, which was explored in Taiku, are all efforts to ensure that the system is accessible, secure, and decentralised.

如今，越来越多的数字货币加入Staking的阵营，众多项目也开始提出了自己的Staking计划或者超级节点计划，去探索PoS的发展方向。良性的增发模式可以助力数字货币更好地发展，劣性的模式却会将代币推进无尽的深渊。

Today, a growing number of digital currencies are joining the Staking camp, and many projects are beginning to come up with their own Staking or Super-Node plans to explore the way PoS is developing. Good growth models can help better digital money, but poor models can push the tokens to the bottom of the abyss.

荷兰式拍卖+破发回购

Dutch auction >

币圈的人对区块链技术逐渐失去信心很有可能是技术大咖们集合了大量的资金和资源，最后却没有拿出能让大家满意的东西来。其中首当其冲的，就是图灵奖获得者Silvio Micali希尔维奥·米卡利创办的Algorand项目。区块链中现在应用广泛的零知识证明，就是由他在1985年提出。

The loss of confidence in block chain technology on the part of currency circles is likely to be the result of technologists pooling huge amounts of money and resources, and failing to come up with something that would satisfy everyone. The first of these was the Algorand project, founded by Turing Prize winner Silvio Micali Hilvio Mikali.

按理说，Algorand这么一个牛逼的项目，为何最后落得"闻者叹息，听者流泪"的下场？在于其公募与私募的巨大差价和荷兰式拍卖+破发回购的机制。Algorand的公募采用荷兰式拍卖的机制，每期拍卖2500万代币ALGO，每年进行24次，每次从10美元开始降价拍卖，当2500万代币卖完时，以最低的价格给所有人成交。如果成交价格大于1.0美元，投资人将获得一个回购期权，一年后可以以90%的拍卖价格申请回购。

Algorand, by definition, ended up with the "sighing of the listener, tears of the listener"? The difference between his public and private collections and the Dutch-style auction plus the mechanism for back-purchases. Algorand's collection is based on a Dutch-style auction mechanism of 25 million yen AlGOs, which is auctioned 24 times a year, starting with 10 dollars, and is sold to everyone at the lowest price when 25 million yen is sold. If the price is greater than 1.0 dollars, the investor will receive a buy-back option, which can be applied for at 90% of the auction price in one year.

谁会参加公募呢？大家认为是已经参与了私募的机构。通过参与公募，获得退币权，在公募上线后卖出代币，一年后私募代币解锁，即可锁定代币的价格。而私募的价格，是0.1美元，也就是说，这些参加了私募的机构，会一直参加公募并托高价格。PrimitiveVentures创始合伙人对此评价到："这个盘子崩塌的很慢，而且只要没有回购完，应该都不会崩塌。"赚钱，还真的和智商有关 - 图灵奖级别资金盘Algorand，因此，也被民间成为"图灵级别"的ZJP。

Who's going to take part in public fund-raising? By participating in public fund-raising, gaining the right to repossess, selling the tokens after the fund-raising, and unlocking the tokens after a year of private money collection, the price of private money is $0.1, that is to say, those participating in private fund-raising will always participate in the fund-raising and higher prices. The founding partner of PrimitiveVentures said, "The plate collapsed slowly, and should not collapse as long as it was bought back.

万万没想到的是，由于私募机构每天都会解锁代币，你不卖，别人就卖掉砸低了价格，在这样的囚徒困境下，私募机构不得不每天解锁就去卖掉手上的代币，锁定收益，而市场并没有这么庞大的增量资金，ALGO价格在跌破了2.4的发行价格后，并没有止跌，反而是一路向下，直到0.05美元。

What is unexpected is that, since private agencies unsold the tokens every day, and if you do not sell them, others sell them at a lower price. In the case of prisoners, private agencies have to unsell the coins in their hands every day, locking in the proceeds, and the market does not have such a large increase in money, and AlGO prices have not stopped falling after they broke the 2.4 distribution price, but have gone all the way down to $ 0.05.

超链接：那些年Algo教会我们的事，ALGO的故事告诉我们，即使是图灵奖级别的ZJP，也是ZJP。只要是ZJP，只要没有增量资金且分配不均，就一定会崩塌。

Hyperlinks: Algo taught us about those years, Algo told us that even ZJP of the Turing Award is ZJP. As long as it is ZJP, it will collapse as long as there is no incremental funding and the distribution is uneven.

"模改"指北

"mix" means north

从今年上半年开始，受到VDS/EGT等币价飙升的项目影响，如果一个区块链项目传出要"走模式"的消息，其币价就会开始上涨，套用李老师的名言，可以说绝大多数区块链项目面临的困境，"你这个问题走模式就可以解决。"

Starting in the first half of this year, under the influence of the vDS/EGT denominated project, if a block chain project sends out the message of a "go mode", the price of the currency will start to rise, using Mr. Lee's famous words, and it can be said that most block chain projects are in a difficult position, "You can solve this problem."

走模式真的可以解决问题嘛？"模改"的核心是什么？且听船长徐徐道来。所谓模式，是给项目加上ZJP的收益模式。模式众多，万变不离其宗，所有的模式无非分为"静态收益"和"动态收益"，静态收益是指通过投资或者质押资金获得分红；动态收益，是指拉"下线"，下线充值，系统就会给你分成。转换成币圈的说法，一个是锁仓收益，一个是邀请奖励。

The mode of walking really solves the problem, "What's the core of?" and listens to Captain Xu Xu Xu Dao. The pattern is to add the ZJP to the project. There are many models, all of which are divided into "static gains" and "dynamic gains", and static gains mean that they are rededicated through investment or pledge funds; dynamic gains, "downline" and bottom-loading, the system will share.

币本位和金本位

出入金的计价方式和结算方式不同，最终带来的效果完全不同。我们将出入金的方式分为币本位和金本位。所谓币本位，即是以代币的数量作为基准进行计价和结算，参与模式的时候以代币数量计价，退出的时候以相应代币的数量退出，所有收益与代币的法币不挂钩，一个标准的staking模式与之类似。而金本位，则是以法币计价，具体表现形式为USDT等稳定币进行出入金，或者等值USDT的BTC/ETH等主流数字货币。比如贝尔链，在投入ETH时会给与锚定ETH的价格，分红的时候会按照法币的价格进行计价，分红的时候仍然以BRC结算，就是出入金使用币本位，计价结算使用金本位的模式。

The value of the entry and exit money is different from that of the settlement. We divide the exit and exit money into currency and gold. The value of the currency is measured and settled on the basis of the number of currencies. The participation model is denominated in the amount of the currency, the exit is denominated in the amount of the currency, the exit is denominated in the amount of the corresponding currency, and all gains are not linked to the French currency, and a standard stating pattern is similar. The gold base is denominated in French, in the form of entry and exit money for stable currencies such as USDT, or in the form of mainstream currency such as BTC/ETH, the equivalent USDT.

将静态收益的出入金计价和结算的方式切割开，分为一共16类，模式不存在好坏，在这里我们仅挑选其中有代表性的几个币圈项目做一些分析。信息来源于互联网，若有错误还请各位在留言区指出。

If there are any errors in the information source on the Internet, you should be asked to point out in the message area.

动态收益

动态收益的方式各有不同，在CX领域，所有的收益都是依靠多级分销获取动态收益，这也是CX和ZJP一个很大的区别。以"安利"为例，售价数百元的保健品，实际成本仅有数十元。在传统贸易中，层层经销商会从中获得利润，而所谓的"直销"则是按照推荐的上下级进行提成。产品的大部分利润会被上级层层瓜分，这就是"动态收益"的原型。一般的产品会踩在国家红线上，进行三级分销，也有不少在违法边缘疯狂试探的产品，"无限代"也是可以的。

In the CX area, all benefits are derived from multiple distributions, which is a big difference between CX and ZJP. In "Anly," for example, the real cost of selling hundreds of dollars of health care products is only tens of dollars. In traditional trade, the so-called "direct sale" is profited from it, and the so-called "direct sale" is promoted according to the recommended upper tiers. Much of the profits are split between the higher tiers, which is the prototype of "dynamic gain."

到了ZJP这里，已经没有实体产品的东西，但是邀请推荐的方式一样存在，推荐下线参与投资，上家就能直接获得利润。分成的百分比，在业内称作"啪点"，分成的多少，直接决定了项目的裂变速度。如果分成足够高，高至50%，那推荐者不惜不出任何代价，去诱导下家投资，但这也意味着巨大的泡沫随之产生——大部分利润给到了渠道，项目方拿到的收益较小，当资金无法填补给投资者承诺的"静态收益"时，就会崩盘；如果收益分成很低，泡沫确实会小，但是这就会造成推荐动机不足，难以裂变的情况。

Here in ZJP, there is no real product, but the same way in which the invitation is recommended, which is recommended for investment, the upper house can get a direct profit. The percentage of the share, known as the "beep spot" in the industry, the amount of the share, directly determines the speed of the project's fission. If the split is high enough to be as high as 50%, the recommendr will not be able to induce domestic investment at any cost, but it also means that huge bubbles are created — most of the profits are given to the channel, the benefits are small for the project party, and when the funds fail to fill the "static return" promised to the investor; if the share of proceeds is low, the bubbles are small, but this would result in insufficient incentives for recommendation and hard to fissure.

如何去设定静态收益出入金模式，动态收益推荐分成模式，这都是一个区块链项目"模改"的关键。我们用两个区块链项目"模改"的例子，来说明不同模式可能带来的效果。

How to set the static income-gap model, the dynamic income-sharing recommended model, is the key to a block-chain project, "Modification". We use the example of two block-chain projects, "Modification," to illustrate the potential effects of different models.

项目案例

Project Case

ARPA

ARPA是一个纯粹的区块链项目，根据官方介绍，ARPA 致力于用为企业与个人提供隐私计算能力和数据的安全流转解决方案。基于前沿的安全多方计算（MPC）密码算法，ARPA 安全计算网络可以作为协议层（Layer 2）为任何公链提供隐私计算能力，并赋能开发人员在 ARPA 计算网络上构建高效、安全、能保护数据隐私的的商业应用。

ARPA is a purely block chain project, and, according to the official presentation, ARPA is committed to a safe flow solution that provides businesses and individuals with privacy computing capabilities and data. Based on a front-line security multipolar (MPC) password algorithm, the ARPA secure computing network can provide privacy computing capability for any public chain as a protocol layer (Layer 2) and enable developers to build efficient, secure, and commercial applications that protect data privacy on the ARPA computing network.

前些日，ARPA发布了阿波罗二级火箭计划，计划在月底推行。二级登月火箭 | 8000万ARPA质押奖励计划震撼公布，通过对其进行解析，我们发现这是一个"币本位出入金，币本位计价结算"的模式，这也是一个典型的区块链项目所使用的模型。

The ARPA second-stage rocket program was released a few days ago, and it is planned to be launched by the end of the month. The second-stage moon-riding rocket, the 80 million ARPA pledge incentive program, was released as a shock, and by dissecting it, we found that it was a model of "money-in-place, currency-in-value settlement" and a model used in a typical block chain project.

静态收益方面，锁定ARPA成为节点获得年化收益，锁定金额越高，收益越高。这样获取收益的方式与众多POS项目的Staking机制别无二致，只是没有参与项目治理的权利而已。

ARPA的超级节点会有24%-30%的年化收益，这远超于普通PoS项目的收益。也正是因为节点收益与共识机制无关，也就可以加上动态收益的玩法。推荐下线可获得被推荐节点收益的10%，对于没有ARPA或者担心ARPA下跌的投资者来说，邀请他人成为节点是一个无本万利的事。

ARPA has an annualized benefit of 24-30% of its supernode, which is far more than the ordinary PoS project. It is also because node node gains are not related to consensus mechanisms, and it is possible to add a dynamic node to the game.

与其他项目不同的是，ARPA还创新地提出了奖池机制，让每个成为节点的人需要付一部分费用。所有的费用进入奖池，给质押排行榜前列的节点和幸运儿更多奖励，这将更大程度地激发散户的参与感。最低质押5000ARPA（约150 USDT）即可成为参与抽奖，一旦中奖每个人将获得奖池1%的奖励，是一个以小博大的机会。

In contrast to other projects, ARPA has innovatively proposed a pool mechanism, whereby every person who becomes a node will have to pay a portion of the cost. All the costs go into the pool, giving the pledge the top nodes and the lucky ones more incentives, which will give the diaspora a greater sense of participation.

ARPA的模式，核心在于"锁定流通量"，流通量减少，短期内代币不会增发，相当于供给量减少，而需求量增加，这将有利于项目的币价拉升。"表面模式，实则拉盘"是币本位出入金并以币本位结算的最终目的。当然，这样的模式也有不少潜在的风险，当同期锁定的代币在未来同一时间解锁的时候，必将面临巨大的抛压。这就要求项目在这段时间上线更多大交易所，做更多活动，增强代币的流动性。当未来代币解锁的时候，市场上有足够的流动性，才能防止币价被砸穿。

The ARPA model, which is centred on the "locking of circulation" and a reduction in circulation, does not increase in the short term in currencies, which is equivalent to a reduction in supply and increases in demand, will facilitate the project's appreciation of the value of the currency. "Face mode, the pullout" is the ultimate purpose of currency entry and exit and settlement in currencies. There are, of course, a number of potential risks that when the currencies locked during the same period are unlocked at the same time in the future, they will be subject to a significant drop in pressure. This will require the project to go to more large exchanges in this period, to do more activities, and to increase the liquidity of the currency.

此外，作为一个区块链项目，项目方的信用在市场上也异常重要。由于代币的每一笔交易在区块链上透明可查，所以项目方必须按照规定的计划进行代币解锁，甚至使用智能合约锁定代币。如果提前解锁或者释放更多地流通量，将失去市场的信任，造成市场的恐慌式抛盘，币价断崖下跌。

Moreover, as a block chain project, the credit of the project party is particularly important in the market. Since every transaction of a token is transparent on the block chain, the project party must unlock the tokens in accordance with the prescribed plan, even using smart contracts to lock them.

CITEX

CITEX是一家数字货币交易所，于2019年1月上线了平台币CTT，大半年以来币价一直非常低迷，但从7月份开始，币价一路高歌，上涨了约20倍。这是因为CTT下了决心，可谓是"壮士断腕"。2019年7月，CITEX宣布直接销毁90%的代币，这些大部分的代币属于投资机构和平台自己的代币储备，而散户手上的币并没有变动。这一断腕行动牺牲了大户的利益，却赢得了市场的口碑，CTT随后进入了上涨通道。

CITEX, a digital currency exchange that went on line in January 2019, has for most of the past six months been very low, but since July it has been high and has risen about 20 times. This is because the CTT has decided to destroy 90% of the money directly. In July 2019, CITEX announced that the majority of the money was held up by investment agencies and the platform's own currency reserves, while the money in the hands of the scattered households has not changed. This break-up has cost large households but won the market marker, and the CTT has subsequently entered the ramp.

近日，"极昼资本"联合CTT推出了"裂变挖矿"，"模式"简单粗暴，却吸引了大量的人参加。

In recent days, the Syndicate CTT introduced fission mining, and the Model was simple and rough, but attracted a large number of participants.

根据前面的分类，静态收益方面，这是一个典型的"金本位入金，币本位出金，金本位结算"的模式，用户使用稳定币USDT参与模式，在接下来的300天内每天释放1%左右的CTT，释放的量是金本位等值的CTT，用户再通过二级市场卖出CTT，即可获得收益。

According to the previous classification, static returns are a typical model of "gold-in-kind, currency-in-kind, gold-in-kind settlement". Users use a stable currency USDT participation model, releasing around 1 per cent of CTTs per day over the next 300 days, releasing CTTs with gold-in-kind equivalents and selling CTTs through the secondary market.

动态收益方面，邀请好友，好友本金的20%将直接给与邀请人。同时，CITEX还启用了经典的"金字塔模型"，给与合伙人平台总收益分成。直推三位合伙人可晋级，级别越高，获得平台的总分成越高，这与当年在北部湾盛行的"五级三阶"CX模型类似。

In terms of dynamic benefits, inviting friends, 20% of their principals will go directly to the invitees. At the same time, CITEX has launched the classic "Pyramid Model" to share the total proceeds with the partnership platform. Three partners can be promoted, the higher the grade, and the higher the total share of the platform, similar to the "Five Step 3" CX model that prevailed in the Northern Bay in the year.

使用金本位进行结算，可以最大程度保证用户的法币收益。对于大部分的用户来说，币本位的收益毕竟只是数量上的增加，如果未来币价下跌，数量的增加并不能改善生活，而法币的收益却是实打实的收入。但对于平台来说，大量的CTT释放出来后，如果只有供给端的增加，而无需求端的增加（参加模式使用USDT即可），会导致抛压巨大，币价持续下跌。如果引发了下跌趋势，那用户每日解锁的CTT将在第一时间砸掉，这对于持币者并不友好。

For most users, the return on the currency is, after all, only a quantitative increase; if the price falls in the future, the increase in the amount will not improve life, while the return on the French currency is a real gain. But for the platform, when large quantities of CTTs are released, if only supply-side increases and demand-based increases (the use of the participation mode is sufficient), will lead to a significant drop and currency prices will continue to fall.

CITEX的解决方案是再嵌套一个回购模式，用交易平台的收入持续对平台币进行回购，减少流通，当交易平台有足够多的用户的时候，这些用户带来的手续费收入可以让这个模式持续运作。换句话说，这是CITEX用未来的收益来买现在的用户。交易平台的手续费收入并不受币价影响，当币价下跌足够多的时候，同样的资金体量可能会较大幅度拉升币价。最终币价将稳定在一个平衡态，预期抛压与回购量等同。不过，这都建立在未来CITEX将有稳定的现金流的基础上。

CITEX’s solution is to re-engineer the platform’s currency with the income of the trading platform, which will continue to buy back and reduce the flow of money, and which, when the platform has a sufficient number of users, will generate a fee revenue that will keep the model running. In other words, this is what CITEX will buy for the current user with future earnings. The transaction platform’s fee revenue is not subject to currency influence. The same amount of money may increase significantly when the price falls sufficiently.

总结

summary

"模式"与武器一样，本身并无对错，完全取决于使用的人。在混乱的市场中，能够获得市场持续的关注度，或许才能够活下去，等到在区块链真正改变世界的时候，还屹立于这个行业。引用BlockVC创始人徐英凯币圈大作手回忆录中的一段话："我们达成的统一共识是：代币流动性的凋零=发币项目的死亡。……由于大部分区块链项目在未来2-3年内均不具备落地能力和盈利模式，二级市场可能成为了唯一的评价指标和盈利来源。只有全球广义的流动性，才能让代币从投机属性转为投资属性，从使用权属性变为资产属性。"

"Mode" is not wrong in itself, as is the case with weapons, and depends entirely on the people who use it. In a chaotic market, sustained market attention may be able to survive, until the chain of blocks really changes the world, and it stands in the industry. The quote from a memoir by BlockVC’s founder, Xu Young-Kei, says, “Our common consensus is that the monetization of a currency = the death of a currency project.... Because most block-chain projects do not have landing capacity and a profit model in the next 2-3 years, secondary markets may become the only indicators of evaluation and a source of profit. Only broad global liquidity can allow the intergenerational currency to move from speculative to investment and from right-of-occupancy to asset property.”

引入"模式"，可能是很多濒死区块链项目的"背水一战"，成，则夺回市场关注度，败，则粉身碎骨。如何选择收益模式，如何在适当制造泡沫迎合市场需求的同时控制泡沫不爆裂，都是技术活。所有的项目都应该结合自身情况，根据代币的流通量、投资者的用户画像、市场增量资金属性等设定符合自身需求的模式，盲目进行"模改"无异于加速自己的灭亡。

The introduction of "modules" may be the "back-to-back" of many of the near-death block chain projects, but they take back market concerns and lose, and they are shattered. How to choose a profit model and how to match the appropriate foam to market demand while keeping the bubble out of the bubble is a technical exercise. All projects should be tailored to their own circumstances, with models tailored to their needs based on the flow of money, the image of investors' users, and the value of market incremental capital, etc.

对于投资者来说，"模式"必然是一个"九死一生"的负和博弈市场，既然选择去博取高收益，就必须考虑其中的风险——这是一个大概率失去本金的游戏。赌输了，怪不得别人，因为你如果赚到钱，也必然是有人亏掉的钱。而且这个市场里面，还存在着大量你把本金换成筹码后，赌场关门了的可能。只有明确自己的投资信条，坚守自己的原则，才不至于被路上无数的诱导蛊惑。留住自己的本金，才能在区块链真正改变世界的时候，搭上这趟飞往外太空的火箭。

For investors, the "model" must be a negative and game market for nine dead lifetimes, in which the risk must be taken into account if they choose to get high returns -- a game in which they lose their principals at an approximate rate. No wonder you lose, because if you earn money, you must lose money. And there is a lot of chance in this market that the casinos will close when you switch the money to chips. Only by clarifying their investment faiths and upholding their own principles will they not be tempted by the hundreds of thousands of times on the road. Keeping their principals will be able to take this rocket to outer space when the chain really changes the world.

后记

after

撰稿时，中共中央、国务院发布关于支持深圳建设中国特色社会主义先行示范区的意见，支持在深圳开展数字货币研究与移动支付等创新应用。这对于深圳的区块链从业者来说，是一个巨大的利好，大家也异常兴奋。也有人说，这是"数字法币"，并非我们现在讲的"数字货币"。

At the time of writing, the Chinese Communist Party and the State Council issued an opinion on supporting Shenzhen’s construction of a Chinese model socialism model, and supported innovative applications such as digital monetary research and mobile payments in Shenzhen. This was a huge advantage for Shenzhen’s block chain operators, and everyone was very excited.

无论是哪种数字货币，可以肯定的是，随着摩根大通、Facebook等国际企业开始发行数字货币，国家发行数字法币，"数字货币"这一新兴事物越来越获得了市场的关注，也得到了社会的认可。当传统市场经济与币圈原生经济碰撞的时候，必将会产生巨大的火花，如何在这样的机会中借势起飞，来到社会大众的面前，才是所有区块链企业需要思考的问题。

Whatever digital currency is, it is certain that, as international firms such as Morgan Chase, Facebook, and others begin to issue digital money, the country issues digital currency, and the emerging issue of "digital currency" is gaining market attention and social recognition. When traditional market economies collide with the raw economy of the currency ring, there will surely be huge sparks of how to take off in such an opportunity to come to the eyes of society as a whole.

来源：币乎

Source: .

• 数字人民币初露真容，数字人民币初露真容到底是什么？
• DAG也许是真正的区块链3.0
• 区块链科普深入浅出 | 再也没有比这个更全的区块链知识了！

声明：链世界登载此文仅出于分享区块链知识，并不意味着赞同其观点或证实其描述。文章内容仅供参考，不构成投资建议。投资者据此操作，风险自担。此文如侵犯到您的合法权益，请联系我们kefu@lianshijie.com

Statement: The chain world has published this text solely for the purpose of sharing block chain knowledge, which does not mean endorsing its views or confirming its description. The article is for information purposes only. It does not constitute an investment proposal.

欧易(OKX)最新版本

【遇到注册下载问题请加文章最下面的客服微信】永久享受返佣20%手续费！

APP下载   全球官网 大陆官网

币安(Binance)最新版本

币安交易所app【遇到注册下载问题请加文章最下面的客服微信】永久享受返佣20%手续费！

APP下载   官网地址

火币HTX最新版本

火币老牌交易所【遇到注册下载问题请加文章最下面的客服微信】永久享受返佣20%手续费！

APP下载   官网地址