Decentralized exchange-Banco: presented by Pentagon
1. Part Ⅰ
Business PitchBrian Pastor
Catalina Coustasse
焦月诣(Tsarina)
董欣怡(Zoe)
吴希婷(Lucy)
MUKENGE BALIKI TIA
王珂楠 (Conan)
籍安琪 (Angel)
程礎缘 (Kate)
郭昱名 (Sally)
2. Brian Pastor Catalina Coustasse 吴希婷(Lucy) 焦月诣(Tsarina) 董欣怡(Zoe)
Project Name:
Decentralized exchange:
Bancor
3. Cost structure
Stable and low cost(like maintainence cost of
Bancor network abd system, the innovation,
publicity and developmement of protocol....);
Revenues streams
Non profit company(it has been granted tax-exempt
status by the Internal Revenue Service(IRS)because it
furthers a social cause and procides a public benefit.),
but it can gain benefit from the expansion of the token
network and the growth of the number of users.
Key Partners
Starbase; Gnosis;
Status; IMToken;
Antshares;......
Key Activities
Bancor Fynamic
Reserve Ratio(DRR)
Liquid Tokens;
new Bancor
Dashboard on Dune
Ethereum and EOS
blockchains
Key Resources
Physical;Human;
Financial;Intellectual;
Analytical; Smart
Contract
Codes;Algorithm
framework; networks
of connectors
Value
Propositions
convert between
any two tokens.
No deposits and
no order-
matching
between buyers
and sellers
required.
Customer
Segmentation
Niche
market(targeting
the users who
need a platform to
trade )
Customer
Relationship
Self-service;
Communities;
Customer support
FAQ; Co-creaction
Channels
Bancor Telegram
Group; Bancor Blog;
Bancor Whitepaper;
Bancor App; Bancor
Widget (integrate
the channels)
4. Bullet points of the pros
Smart Tokens are a new paradigm in token markets.This introduces multiple advantages over
traditional exchange-based trading:
1. Continuous liquidity: Users can always buy or sell tokens in the network directly through their
smart contracts. The Bancor Protocol effectively disconnects liquidity from trade volume.
2. No built-in fees: By default, Smart Tokens do not apply fees to the conversions they execute. The
only fees incurred by users are those required to transact with the underlying blockchain.
3. Adjustable price sensitivity: The leverage provided by a substantial connector balance and high
weight makes the price of that particular Smart Token less sensitive to short term speculation or
sudden turbulence caused by large orders.
4. No spread: The Bancor Formula applies the same price calculation when handling both buy and
sell orders. Bancor Protocol does not require this profit in order to operate, and decentralized
spreads may be introduced in order to encourage adoption of the network, benefiting all
participants.
5. Bullet points of the cons
Since Bancor hasn’t become mature enough, there exists some leaks and flaws, so that Bancor
cannot handle all the events.
1. Security problems: Bancor depends on network, so Bancor may be faced with the threat
from hackers, inaccessibility of network and so on. The behaviors of collecting money illegally.
2. Responsibility problems: Who is responsible for the potential risks and loss after
implementing?
3. Inflexibility: How to find a specific mechanism for the newly issued currency to be
independnet ftom the mother currency anchored before?
4. Unfairness and speculative frenzy: Take IBO, a project based on Bancor protocol, as an
example. How to opitimize the rules to avoid the speculative frenzy at the initial stage and
attract more lont-term inverstors?
5. Instability: The investment sendiment and the price of currency is unpredictable and unstable,
so the sharp price influctation is inevitable.
6. Strategies to overcome the limitations
To optimize the operations, the organization needs to
conduct a comprehensive assessment of the potential of
each customer group through an in-depth
understanding of its strengths and weaknesses, and
explore other types of customer groups that may benefit
the company more.
Broadening the market by optimizing
the algorithm and aiming to make
Bancor the first choice for every
currency trader.
For Customer Segmentation
7. There are so many Apps
and Websites, what's their
function? How I can
choose and get the right
information I want?
They can integrate the functions of
different channels and reduce the channels
to 2 or 3 main Apps or websites, which is
better for users to easily cope with deals.
We are in the era of information explosion, and we are inundated
with all kinds of information every day. The various channels must
cause the information burden psychologically. A good channel
should not only keep the interfaces simple and the number of
channels manageable. Thus users, designers and maintenance staff
would all save time.
8. The introduction of a technical solution to
solve the two-way demand coincidence
and liquidity problems faced by small-scale
token, thus promoting asset exchange.
Key Resources: We can add
ANALYTICAL (such as Copyright and Partnership);
Smart Contract Codes;
The networks of any connector token;
Algorithm implementation framework
Lack of Key Resources
Parts of
Framework
9. Due to the unfairness and speculative frenzy and
the unpredicted sentiments of the token market,
the big fluctuation's occurrence is frequent.
The issuance and recovery of tokens (even
those tokens previously raised can be sold back to
smart contracts) can be carried out according to
the market demand, which can better reflect the
market demand, will not dilute to the unit price,
and reduce the occurrence of over issuance. To
some extent, it can avoid speculative frenzy and the
instability.
10. Augest
15th
September
15th
November
1st
December
20th
January
6th
March 1st
Assume that starting from June 20th, 2020
Launch pilot test for the
interaction system in which
the user could get engaged
in the rate setting and so on.
(Co-creation)
Starting to collect
ideas and design the
integrating App and
websites.
Optimizing the algorithm to
boardening the market for every
currency trader.
Conduct investigation of
users' needs (including
potential users)
Go on pilot test
and get feedback
from the users
and revise them.
Get feedback of the
brand-new system
and modify it.
Put it into pratice
TO BE
CONTINUE
Add items into the Key
resources
11. Object: make the preliminary design of the integrating App and
websites based on users’ needs
Key results:
1. find the potential users
2. collect and organize all the users’ needs
3. make the preliminary design of the integrating App and websites
Object: launch the pilot test
Key results:
1. create the preliminary pilot test
2. gather enough users to take the test
3. launch the pilot test
Object: revise the test with the feedback to make a brand-new
system
Key results:
1. collect and analyze the feedback about the pilot test from users
2. come up with ideas to improve according to the feedback and
revise the test
3. add items into the key resources
4. announce the brand-new system
August
15th
September
15th
November
1th
12. Object: modify the brand-new system
Key results:
1.collect and analyze the feedback about the system
2.come up with ideas to improve the brand-new system according
to the feedback
3.modify the brand-new system
Object: put the brand-new system into practice
Key results:
1.put the brand-new system into practice
2.In the process of operation, constantly find problems and solve
them.
3.Make sure the system can run properly.
Object: optimize the system and broad our market
Key results:
1.Optimize the algorithm of the system to make our system more
wieldy.
2.Broaden our market for every currency trader.
December
20th
January
6th
March 1th
Tobecontinue
13. 0
1
2
3
4
5
6
Aug 15th Nov 1st Jan 6th Mar 1st
The Predicted Trend
Users'satisfication Transaction volume Number of Users(Market)
HundredMillion
14. Starbase
Contact: support@starbase.co
Intro
Starbase is a blockchain token issuance and sales
platform for innovative projects. Its mission is to
lower the technical and legal barrier around token
sales. Starbase connects investors to innovative
projects and makes it faster and cheaper to
launch ideas through co-incentivised token-
based crowdfunding.
Headquaters: Singapore
Years Found: 2016
Company Size: 2-10 employees
IMToken
Contact: support@consenlabs.com
Intro
imToken is a Ethereum mobile light-wallet, strives to
provide a simple, secure and powerful digital asset
management tool for users. Users are able to
experience freedom in wallets creation/ importing,
secure digital asset management, convenient
transaction execution, real-time market updates, and
explore the potential of Ethereum DApps all with
imToken.
Headquarters: Hangzhou, China
Years Found: 2016
Company Size: 51-200 employees
15. Gnosis
Contact: info@gnosis.pm
Intro
Through decentralized platforms on the
Ethereum blockchain, Gnosis enable the
distribution of resources—from assets to
incentives, and information to ideas—at
individual, societal, and global scales. Their
products are interoperable, allowing you to
create, trade, and hold assets. While their
prediction market platform allows anyone to
build customized forecasting applications.
Additionally, their Gnosis Safe wallet aims to set
a standard for secure, user-controlled fund
storage. Their decentralized platforms and
applications provide foundational infrastructure,
assuring security, stability, and foresight for the
longevity of blockchain-driven technologies.
Headquarters: Gibraltar
Years Found: 2017
Company Size: 11-50 employees
Status
Contact: contribute@status.im
Intro
Status is building the tools and infrastructure for
the advancement of a secure, private, and open
web3. As a product, Status is an open source,
Ethereum-based app that gives users the power to
chat, transact, and access a revolutionary world of
DApps on the decentralized web. With the high
level goals of preserving the right to privacy,
mitigating the risk of censorship, and promoting
economic trade in a transparent, open manner,
Status is building a community where anyone is
welcome to join and contribute. As an organization,
Status seeks to push the web3 ecosystem forward
through research, creation of developer tools, and
support of the open source community.
Headquarters: Zug, Switzerland
Years Found: 2017
Company Size: 51-200 employees
16. NEO (formly Antshares)
Contact: contact@neo.org
Intro
Neo is an open-source platform driven by the community. It utilizes blockchain technology and digital
identities to digitize and automate the management of assets using smart contracts. Using a distributed
network, it aims to create a smart economy by building infrastructures of the next-gen Internet and
creating a solid foundation for mass blockchain adoption. Launched in 2016, the Neo MainNet has
been in stable operation for more than 3 years. Neo is expecting to launch Neo3 in 2020, a robust
implementation with high throughput, enhanced stability and security, an optimized smart contract
system, and a feature-packed infrastructure set to empower developer adoption and to accelerate
enterprise-grade blockchain innovations.
Headquarters: Shanghai, China
Years Found: 2014
Company Size: 11-50 employees
17. Pentagon(Bancor) Outliers(Aave)
Team 9
Creativity Comes
from within.
Team 5
B r i a n P a s t o r
C T O
C a t a l i n a
C I O
吴 希 婷 L u c y
H R
董 欣 怡 Z o e
C F O
C M O & C E O
焦 月 诣 T s a r i n a
M U K E N G E B A L I K I
T I A
M a r k e t i n g
D i r e c t o r
籍 安 琪 A n g e l
C F O
郭 昱 名 S a l l y
C I O
程 礎 缘 K a t e
H R
王 珂 楠 C o n a n
C E O
Made agreement in the
Defi cooperation
Bancor will learn from Aave's
experiences on security issues
and optimize Bancor's system.
Aave will support Bancor's fund
pool equity as collateral assets.In
addition to earning interest by
putting encrypted assets in
Bancor pools, liquidity providers
can also mortgage them to
obtain liquidity in Aave.
19. Cultural and Educational background: born in U.S.A. I lived in Argentina, Panama and had
travelled and lived in many countries,like Germany and UK. Study in ECNU now.
Talents and Ambitions: I consider myself a very open-minded person with diverse skills.In
the future to start with I would like to work in a company that can fit my abilities and
different skills to hopefully learn and achieve enough knowledge to start my own.
Languages: Spanish, English, German and basic Mandarin
Tech skills: Being a team leader, a self-motivation person and great communication skills.
Brian Anthony
Pastor
20. Catalina Antonia
Coustasse Pinto
Cultural and Educational background: born in Concepcion Chile, have lived in Chile, The
United States, France and Panama. Study in ECNU now.
Talents and Ambition:I am a very open-minded, proactive and creative person with a lot of
energy who likes to have positive vibes. I believe I will make wonders in the future. I don’t
only think I will be able to change the world in a better way but improve it and make a big
influence in others as a leader to follow.
Languages: mother tongue is English and Spanish, I speak fluent French and basic Mandarin.
Tech skills: have a great communication, time management and teamwork skills
21. Cultural and Educational background: China, study in ECNU now
Talents: Negotiation, accounting, management
Ambitions: Grasp the law of economic changes and make right
investment choices
Languages: Chinese, English, French (primary)
Tech skills: programming language-Python, Microsoft Office
吴希婷Lucy
22. 董欣怡 Zoe
Culture and Education background: compeletely China; study in ECNU now.
Talents and Ambitions: In the business field, I studied ACCA, participated in
simulated business battles and achieved good results. I have certain talents in
accounting and marketing. My ambition is to be an elite in management.
Languages: Chinese, English, French(a little).
Tech skills: Good at multimedia.
23. 焦月诣 Tsarina
Cultural and Education background: compeletely China; study in ECNU now.
Talents: practiced skills of leadership;experiment design; basic accounting;
negotiation
Ambitions: I want to be the CMO or president of a fashion brand of my own.
Languages: Chinese, English and a little bit French
Tech skills: Adobe Photoshop; Adobe Premiere; Adobe Audition, Animate,
Powerpoint....
24. Because the course is totally new to most of us, so there are lots of obstacles for us.
When all clips flashing through my mind, i remember one of the most difficult tasks
we faced is the recent assignment about the Defi project. We are unfamiliar with the
brand-new field and the information about Bancor in the domestic search engine is
limited, so our Chinese groupmates have to link VPN and search in Google and
reading the jargon in English is way too hard for us. But we overcame it by dividing
tasks to person and contact each other regularly to make sure that everything went
well. Besides, as the time difference between Chinese and international students is
nearly 12 hours, to overcome the inconvenience caused by the time zone, our
Chinese students always stay up late or get up early to keep in touch with them.
Thus our assignments can be done more efficiently. We have a good time
management and team collaboration so we can finish it in time.
25. To be frank, we barely had conflicts. Because we are familiar with each other last
semester so there is no embarrassing situation for us when we held team
meetings and we discussed in harmony. Sometimes we have small disagreement,
like there is one time that the pros side collected some information but it's too
general not specific. Then when the team leader is integrating the slides, she told
them the mistakes and they correct it very quickly although the time is kind of late
for them. We will understand each other and listen to each other.
33. Records for week 7
This week we make a pre about
the Insights on COVID-19 crisis.
Last: 15min
Participants: Brian, Catalina
吴希婷,
董欣怡,
焦月诣
Data: 2020.4.22
37. • I am sorry about that. I left out taking screenshot for week 11. I remember the assignment in
week 11 was updating the Profile page in LinkedIn and team members showed to each
other. And Brian is responsible for recording the video and sent it in Slack, but i wasn't save
it in my laptop. I sincerely applogize for the mistake i made.
• In Week 12, we don't have any assignments except for the individual experiment before
the Behavioral Finance.
Meeting Records for week 11
38. Meeting Records for week 13
Data: 2020.5.30
Time: 9:30 p.m.
Last: 20mins
Participants: Brian, Catalina
吴希婷,
董欣怡,
焦月诣
39. Meeting Records for week 14
Data: 2020.6.6
Time: 9:30 p.m.
Last: 70mins
Participants: 吴希婷,
董欣怡,
焦月诣
40. Meeting Records for week 15
Data: 2020.6.14
Time: 8:30 a.m.
Last: 20mins
Participants: Brian
Catalina
吴希婷,
董欣怡,
焦月诣
41. Meeting Records for week 16
Data: 2020.6.21
Time: 9:00 a.m.
Last: 60mins
Participants: Brian
Catalina
吴希婷,
董欣怡,
焦月诣
42. Date Assignments
Week 1
3.11
1. Self-intro; Team-building
2. Watch 'Introduction to Microeconomics'
Week 2
3.18
1. Watch 'Apply Supply and Demand' and do quiz
2. Discuss ’Why you want to be an economist ’ and ‘How you think
economics would be useful’
Week 3
3.25
1. Watch 'Preference and Utility'
2. Discuss the counter example in real life for the assumptions of the
preference.
Week 4
4.1
1. Watch 'Budget Constraints'
2. Submit the mental accounting examples from own experiences
Week 5
4.8
1. Watch 'Deriving Demand Curve' and submit the second quiz
2. Submit the an example of inferior goods for your own preferences
Week 6
4.15
1. Watch 'Producer Theory'
2. Each member elaborated self-reflection on COVID-19 crisis
Week 7
4.22
1. Recorded a presentation about the Insights on COVID-19 crisis.
43. Date Assignments
Week 8
4.29
1. Watch 'Competition 1' and finish the 3th quiz
2. A meeting record in which we discussed the article “Beyond
coronavirus: The path to the next normal”
Week 9
5.7
1. Watch 'Economic welfare'
2. Discuss “How an artwork inspires your thoughts in economics?”
And make the video.
Week 10
5.14
1. Watching 'Equity and Efficiency' and submit the quiz
Week 11
5.17
1. Updated LinkedIn page. Recorded zoom meeting introducing
each team member’s LinkedIn Page.
Week 12
5.23
1. Doing the pre-experiment
Week 13
5.30
1. Discuss and design a Public Goods Game
Week 14
6.6
1. Implement the Public Goods Game designed last week by using
Otree and recorded the process.
44. Date Assignments
Week 15
6.14
1. 6.11—Team intro and Lecture
2. 6.14—Debate Video “Pros and Cons of Bancor
Week 16
6.21
1. 6.16—Business Model Canvas & Informing Business
Strategy
2. 6.21—Executive Plan & Peer Evaluation Video
Week 17
6.28
Final Slides and Video
45. In this Spring, we have completed many tasks. In general, in the 1-10 weeks, we have
self-studied the course of Microeconomics and get the basic knowledge of how the
market functions. After watching the video, the task inspired us to have deep thoughts into
the specific application of some obsecure definition so we can have a better
understanding of it. If there is any conception we are confused with, we will help each
other. In the week 11-16, there are actually lots of assignments for us. We distributed tasks
and collaborated together and finish all tasks in time. Although there exists inconvenience
caused by time zone, but our international students have tried to do what they can do. In
general, we have a well-managed team.
In the future, our five team member might not be in a same team together, but the skills
of leadership i practiced in this semester, the knowledge we learned, our friendship and
the bond between us would benefit us a lot on the long road of life.
46. I believe it is important for any student who wants to do their best in a class to take
a moment to evaluate their own work to determine the rate their writing is
progressing and how they can continue to advance their writing. When I looked
through my own work I asked myself “what have I learned this semester?” I consider
that i hava learn many important tips and key point about micro-econominic.And
help me to really how much I enjoy the subject and i would like to learn more about
it. Also during this class my tammetes and I had a lot of fun.
——Brian Anthony PastorSelf-Grading: 90/100
47. This Class has shown me that the study of this subject is one that is highly
valuable for any studying business with the provision of knowledge that will
increase understanding of different influences and support the decision making
processes. With the knowledge I have gained, along with the skills in applying
that knowledge developed through class work and exercises for the different
modules, there has also been the development of increasing my confidence, both
personal and in the theories, in using the relevant concepts and tools in a
practical setting. However, the ability to understand the way life in general
operates not only helps to explain the observed outcomes, the ability to use the
tools and other mindset we have learned to think of helps predict potential
outcomes for different scenarios which is highly useful.
——Catalina Antonia
Coustasse Pinto
Self-Grading: 90/100
48. This spring, I have learnt about Microeconomics, behavioral economics, and
Cryptoeconomics. About Microeconomics, I not only learnt about the fundamental
concepts and functions, but also got a micro view of the economy. About behavioral
economics, I learnt about some basic concepts, two typical games in behavioral
economics, and the usage of oTree. About Cryptoeconomics, I got a deeper
understanding of blockchain and decentralized finance. What's more, my group and I
used these knowledge to analyze Bancor, a decentralized finance project, proposed
plenty of suggestions and set up the cooperation with another project. Besides the
academic gain, I also improve my public speaking, information gathering capacity and
teamwork abilities. With all these I grasped, I am able to use oTree, make experiment
design, improve business pitch and so on. These skills can be used in other subjects.
Besides, these will help me a lot when I apply for a job and improve my efficiency after
my graduation.
——吴希婷LucySelf-Grading: 92/100
49. Speaking of my growth in this spring, in addition to my increasing knowledge of
microeconomics, I think first of all, I have learned how to gradually find an effective way of
learning and adjust my mind in the face of an emergency like the epidemic. Secondly, I
realized that in addition to theoretical knowledge, what is more important is how to digest
theoretical knowledge, how to master it and apply it in real life. I also learned how to
manage my time better and how to cooperate with others well in a team.
After my studying microeconomics this semester, I will become more rational in the
future, consider problems more comprehensively, and analyze problems from different
perspectives. Some theories also make sense in reality. For example, with opportunity cost
awareness, I won't limit myself to putting my money in the bank or lending it to friends
and family. Instead, I'll look for investments that offer better returns. Besides, the
experience of trying to study and digest what seems overwhelmingly difficult also trained
my patience and perseverance, which will help me overcome obstacles more bravely.
——董欣怡Zoe
Self-Grading: 93/100
50. This semester, I have learnt Microeconomics, behavioral economics, and Cryptoeconomics.
In week1-10, i have not only learned the basic concepts of Microeconomics, but also have
deeper insights into how the mareket runs. The discussions after every lecture really
benefit me a lot. And in Behavioral Finance lecture, I got to know the phychology in
economics and we designed a Public Goods Game and implement it in Otree together.
What's more, cryptoeconomics shown me a compeletely new field to me. Although i am
quite confused about it at first, after one lecture and whole project, i have a better
understanding of Defi, Blockchain and other abstract concepts and applications.
Except for the knowledge i learned, i also practiced the skills of leadership. I have abetter
time management; I tried to communicate with everyone with patience and i did lots of
assignments generally speaking. I won't regret being a leader although the workload is
much higher than others. I appreciate the opportunity to enhancing my public speaking,
teamwork abilities and other abilities which could benefit me in the future.
——焦月诣Tsarina
Self-Grading: 96/100