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DEFIS Wallet

Defis control cockpit is the central software for easy handling, control and invest of the entire cryptcurrency assets. DEFIS has its own cryptocurrency $XGM, which is the fuel that powers the DEFIS Blockchain.

Main Defis features:
Lending and Borrowing
Wrapping of coins
Pricing oracles
DEX 2.0 and Cross-chain Exchanges
Asset 'coinization'

DEFIS technologies

DEFIS is a newly crafted blockchain. The technology of DEFIS improves upon current existing DEFI models and eliminates the limitations and scalability of issues that face the current existing DApps.

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Smart Contract Scalability

Our solution is based on "Scriptless scripts" technology, which allows our smart contracts to scale as the enforcement and execution of the terms of the contract Take place off-chain

Network scalability

Our solution bridges the gap between Confidential Assetchains and atomic swap protocols. On the core level, the funds can freely move from chain to chain with a lock/redeem system

Privacy

DEFIS Blockchain does not store transactions and addresses. It operates on confidential transactions and uses blinding factors. Only the two parties involved in the transaction are aware of its existence. The terms of smart contracts are known only by the parties within the contract. Visible data is indistinguishable from other transactions

Interoperability

Our decentralized wrapping system allows users to hold any crypto asset or invest in another cryptocurrency through the DEFIS cross-chain trading protocol which exists on top of DEFIS ecosystem’s pegged coins

Get XGM

XGM Specifications

Cryptocurrency Name/Ticker : Defis/XGM
Consensus/algo PoW/GrimmPOW
Max. Supply 262.800.000
Block time 30 sec
Block reward 20 XGM
Initial TPS 136 tx per sec
Governance Corporate


  • Emission

    Deflationary
  • Jun 10, 2020

    Mainnet online from

Mining XGM wallet with built-in GPU and CPU mining and mining pools
Min fee 100 Centums (1XGM = 1*10^8 Centums)
Address obfuscation Non stored
Amount obfuscatione Confidential transactions (CT)
Raw transaction size 1.0kB
Min./pruned transaction size 0.01kB
Max block size 4Mb

XGM coins allocation

  • Available for mining
    51%
  • Allocated to Grimm miners (1:1 to mined Grimm coins on the Fork date)
    16%
  • Founders reward
    5%
  • Marketing and Development fund
    15%
  • Allocated to DEFIS investors
    13%

Hard Fork FAQ

Hold your XGM on fork date (Jun 9 - 10, 2020) in official Grimm wallet, Trade ogre exchange, ViteX or Citex exchange on the fork date to receive both of $XGM and $GRIMM coins at 1:1 rate. There will be 2 wallets after fork. The first wallet is what is available now. After the fork, you can download DEFIS wallet from our website, restore it with your seed phrase from Grimm wallet and get the same balance in $XGM.
DEFIS is commercial project, it has use case in finance. Decentralized Financial System of scalable, privacy oriented offchain contracts and financial protocols. Owners of different types of cryptocurrencies will earn interest in DEFIS system, borrow, exchange and create custom cryptocurrencies in a decentralized mode. We will deal with it closely. It will be our main work, we will register legal entity, expand our team, work with investors, engage in marketing, etc. Previous network Grimm will be managed by community in 'satoshi vision'. This allows not to betray those who mined/invested in the initial vision of the project.
Traditional financial services provide an important services today but at a very high price and the following fundamental issues are still unresolved:
Transaction costs are high for the average user of banking and financial services
Slow transactions, especially international ones
Excessive bureaucracy
Lack of transparency and unfair advantages for big players. Financial instruments are complex, and most people do not have access to information that would allow them to make optimal decisions
Inaccessibility and/or higher costs for people with low income. Financial services are simply not available in many places, and when they are, lower-income people are hit with even high fees (percentage-wise) than average
The market of Decentralized Finance (DeFi) is currently the fastest growing and most trending crypto-sector that trying to solve traditional finance problems. However, the development of this market has revealed the technological limitations of existing systems and further development of the market is impossible without solving the following problems:
Lack of smart contracts scaling, which are the base of any DeFi application
Lack of smart contracts confidentiality
Excessive functionality of Turing complete smart contracts leads to errors, hacking and attacks.
Actual centralization of dApps, that do not have their own blockchain, and total dependence on the parent blockchain (uninterested third parties)
Lack of interoperability of different blockchains and crypto-assets
Problems of consensus regarding the mechanics of DeFi applications:
Low scalability of networks with POW (Proof-of-Work) consensus. An example is the DeFi services leader, Ethereum
Vulnerability of networks with POS (Proof-of-Stake) consensus. Example all other blockchain platforms. Competition between DeFi services and the POS protocol itself (DeFi and POS stacking) will lead to vulnerability, attacks and centralization.
The project proposes the creation of the DEFIS system to provide Decentralized Financial services. The system is based on its own specialized blockchain with the ability to widely scaling of smart contracts and ensure the privacy of results from its execution. DEFIS technology provides necessary features for the DeFi services, solves it problems and eliminates the limitations of existing systems.
1. Smart contracts scalability
DeFi applications are based on smart contracts. Bitcoin, Ethereum and others different blockchains have a scripting language which is a way of describing under which conditions coins can be spent. These scripting languages allow to create smart contracts where coins can be spent under different conditions. Everybody in the network must downloads, everyone must verifies, so they cant really be compressed or aggregated in any coherent or consistent way. Smart contracts actually end up being hashed, so they cant really be compressed.
DEFIS blockchain does not support scripts at all. The entire blockchain functions on Schnorr signatures and Pedersen commitments that represent spendable coins. Our solution is based on the “Scriptless scripts” technology and our contracts can scale because the enforcement and execution of the terms of the contract happen off chain. By pushing this execution to the people that care about it, communal computing resources are spared the burden of storing contract data and executing terms and conditions. To have smart contracts using only signatures, we take advantage of signature aggregation within Schnorr. Aggregation is a property we get from Schnorr signatures because they are linear. This means they can be added and subtracted and the result is a valid signature corresponding to the same addition or subtraction of the public keys. The spending conditions are not enforced by the blockchain, but rather enforced by the parties themselves. Only once the parties within the contract agree that the conditions have been met will they collaborate and sign the finalizing transaction. To the blockchain, it looks like an ordinary signature and only the participants know whats going on.
2. Privacy
Smart contracts privacy in DEFIS is provided by having the terms of the contract hidden from the public. The terms are known only by the parties within the contract, and visible data is indistinguishable from other transactions. DEFIS is fundamentally private itself. Blockchain does not store transactions, addresses. It operates on confidential transactions and uses a blinding factor that encrypts all inputs and outputs along with their public and private keys. Only two sides are dedicated to the details of the transaction. The secp256k1 elliptic curve, Pedersen commitment and Bulletproof, Schnorr signature and blinding factor, Dandelion ++ and CoinJoin all these methods, cryptographic primitives and signatures work in a single bundle to ensure the highest level of confidentiality of the DEFIS system.
3. Smart contracts security
To date, a most number of DeFi applications have been built on Ethereum, Tron, EOS and many other blockchains with Turing-complete smart contracts, that have security flaws that allowed the attacks like DAO hack to happen (recursive call exploit). Most features of Turing-complete smart contracts not required for DeFi applications.
DEFIS being a dedicated non-Turing-complete smart contracts, based on Scriptless Scripts. DEFIS provides the basic required scripting functionality necessary to create even the most complex DeFi dApps (while at the same time reducing security related errors) and it can be easily tested for security flaws, because the language does not support any recursion or complex loops.
4. Decentralization
Most DeFi applications do not have their own blockchain and locked at the parent blockchain network. If there is an upgrade on the mainnet then all the DeFi ptotocols on this blockchain have to use this change even if they dont want/need the upgrade. DEFIS is running on its own blockchain, specialized for financial services and applications that require scalability and privacy at the top of primitive level. All decisions and updates are made by system participants in the interests of the project.
5. Interoperability
The decentralized wrapping feature is a main function in allowing users to hold any crypto-asset and performing investments in another cruptocurrency. DEFIS cross-chain protocols provides a mechanism for creating a pegged coins in DEFIS ecosistem, that is 1/1 backed by native coins.
6. POW vs POS
At Proof of Stake (POS) (alternative to Proof of Work POW) blockchain is protected by staked crypto-assets instead of by hash power. POS is increasingly becoming popular as the core consensus for DeFi blockchains due it scalability features. Multiple blockchain platforms like Ethereum, EOS, Cosmos, Tezos and etc has already adopted POS or has plans to do so in the near future. POS only works, if stakers are incentivized to stake funds. But if they can get better returns from the staking in DeFi services, they move funds from POS staking into DeFi. If this siphons demand away from the POS staking, the network becomes insecure.
DEFIS is built on a public POW blockchain and we have solved the scalability issue. To increase network scalability, we have developed the parallel chains architecture for network. The solution is Confidential Assetchains, where different chains can form a network of blockchains. This scalability solution connects chains together with the atomic swap protocol. On the core level, the funds can freely move from chain to chain with a lock/redeem system. These chains can operate on their own networks and will not be tied to the main blockchain, which solves the bloating issues of many other platforms.
Both coins will be able to mine. From start with same algo and miners, that used now in Grimm for convenience. Pools will be separated.
GRIMM was created in August of 2019 with the developer's own funds and without any investments. The project started as a free platform for creating custom blockchain networks using the innovative technology that is Mimblewimble. The project was supposed to continue with the funds collected from donations. However, after more than six months of the project’s existence, this model has been proven ineffective for these reasons. 1- The economic model has shown its inconsistency, as the continuous development of the project shouldn’t be under the mercy of available funds. 2- This concept had a negative impact on the inclusion of XGM assets in the economy, which was the only economic interest for users. As a result, we have developed a new concept project, with carefully a designed economic model in mind. In which miners, users, and investors would merge into a single decentralized environment fueled by $XGM assets and decentralized protocols.

Roadmap 2019 - 2020

Founders

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Den Novak

Co-founder, CEO

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Den Novak

Co-founder, CEO
About

Den is an entrepreneur and sustainability leader with over 20 years experience. Founder and CEO of a few successful several companies in various industries in Russia (Moscow). Investor and blockchain enthusiast. Co-founder Grimm and DEFIS projects.

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Andrew Cop

Co-founder, CTO

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Andrew Cop

Co-founder, CTO
About

Andrew have strong skills in networking, data structures, cryptography, and algorithms. C++ development background (more 10 years). Bachelor degree in Cyber Security, MIET. Lives in Moscow. Involved with blockchain technology from 2015. Co-founder Grimm and DEFIS projects.

Latest news

2nd Defis [XGM] Mystery box

Defis [XGM] is officially listed on Hotbit exchange

Taking DeFi Capability To A New Level With DEFIS

DeFiS [XGM] will be listed on Hotbit exchange

DeFiS [XGM] mystery boxes. First box opened

DeFiS [XGM] wallet released

DeFiS [XGM] white paper released

TradeOgre exchange will support the DEFIS hardfork