Wednesday, June 23, 2021

CR Council Candidate Interview: Shijun Song

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CR Council Candidate Interview: Shijun Song

1. How would you evaluate the work of the CR Committee in this past year? What have you learned from it?

I have already published an article to discuss CR’s operating mechanism, and how I believe that it is not suitable for CRC members to make certain industry judgments. It is difficult to reach consensus, and it is difficult to make a wise decision.

CR should not become an investment fund, and CR Council is not a fund manager. In summary, it shouldn’t judge the growth potential, professionalism, technical capabilities, etc., of an ecosystem project.

An organization formed with members with such diverse backgrounds makes CR more of a jury. It is only suitable for making simple decisions on behalf of the community. The concept of lossless liquidity mining in DeFi provides CR with a perfect operation model. It only needs to provide liquidity for a project.

It does not participate in fundraisings like angel investors and private sales so that CR’s principal is not risked. As such, CR can be sustainable, as in the case of The Nobel Foundation, and the incentives towards the ELA ecosystem can also be sustainable.

Moreover, under this model, there exists a floor but not a ceiling of the influence a CRC member can have towards the ELA ecosystem. In other words, even if committee members are misguided, the result is only that these liquidities yield nothing, and in principle, there is no risk on capital.

On the other hand, if the committee members introduce more valuable cooperation to the ELA ecosystem based on their capabilities and select some great projects, this can create unlimited benefits to the ecosystem.

Therefore, I suggest that EF and CR have separate responsibilities. EF is more professional and has definitive goals. CR uses DeFi tools to provide liquidity support for the ELA ecosystem. EF’s goal is to complete the underlying technology and make investments that are deemed necessities.

Finally, whether CR supports an ecosystem project depends on whether the project can provide application scenarios for ELA. All projects that can expand the application scenarios and use of ELA should be supported, regardless of which chain they are deployed.

2. Would you say the design of Suggestions and Proposals has been effective? What could be improved?

Suggestions and Proposals are very complicated. Once I planned to make a Suggestion regarding the operating mechanism of CR, but the current template didn’t fit at all. This template seemingly assumes that a person making a Suggestion always comes for money. This is a condescending perspective.

3. What contributions to the Elastos ecosystem as a whole have you made that you’re particularly proud of last year?

In the past year, we have been fortunate to have introduced DeFi infrastructure for the Elastos ecosystem with the support of all parties, including EF.

The infrastructures include  “swap,” “cross-chain bridge,” and “lending.” Among them, 2.6 million ELA are locked in the FilDA project, which provides financial tools for these ELA, so that ELA can interchange with the mainstream assets. Moreover, it contributed tens of millions of dollars of profits to ELA holders.

I am proud to say that we have made a good start for ELA’s DeFi, and we will continue to create more effects and benefits based on these foundations.

4. Which proposals passed in the past year have the greatest impact on the Elastos ecosystem?

The proposal for the deflationary tokenomics model is undoubtedly the largest. I have a neutral stance towards this proposal. If you work out the difference in the amount of ELA before and after the proposal, you will find that it is minimal compared to the circulating supply. The more important thing is to develop more application scenarios for ELA so that the liquidity of ELA can be built up throughout the network.

5. Why should the community vote for you?

I can provide CR with our practical experience and expertise in DeFi and can help CR optimize the allocation and management of its assets. I can also help CR to identify potential projects. These can all be done even if I am not a CRC member. If I am, however, I can use this power more directly to promote the Elastos ecosystem.

6. What is your vision for the maturing Cyber Republic this upcoming year?

I hope ELA can further integrate into the mainstream crypto market. Let ELA circulate in multiple chains and be used in more DApps so that its holders can become happy ELA miners.

7. Are there near-term Suggestions or Proposals that you are particularly excited for?

I don’t have one for now.

8. Who else would you endorse for being on the Council with you?

Mr. Han Feng is undoubtedly a great CRC member, and I support him first. There are many new candidates in this election, and they all have their strengths. I hope the community can choose the best combination of members.

9. Is there anything else you would like to add?

At present, we are planning to release a stablecoin project based on Elastos so that a native stable coin can be minted in the ELA ecosystem, which facilitates the independent growth of the ecosystem.

At the same time, we are also seeking support from different parties to provide liquidity for ELA on different smart chains.

When ELA has sufficient liquidity in the Elastos ecosystem, we will officially launch Quicksilver on ELA; bringing the lending platform back home is our goal.