The Chinese and English reference version of the Curve stablecoin design white paper includes some Chinese annotations for better understanding and also corrects some spelling errors in the original version for everyone's reference and study.

The DEX protocol itself, as underlying infrastructure, has good openness, and a series of products and services will emerge on top of it.

We look forward to seeing more builders emerge with more explorations and ideas in the future, building a more robust DeFi ecosystem.

This research report aims to help everyone understand the financial costs that external participants in the Curve War, whose main purpose is to promote the liquidity of their project tokens, need to bear at different levels of the ecosystem.

The four key developments to achieve the trillion-dollar goal of DeFi include the introduction of order book models in DEX, cross-chain interoperability, NFT financialization, and the integration of DeFi with traditional finance.