- 學位論文
雙引擎：自適應的數字加密穩定幣和基於保證金制度的新生通證流通模型
Stability and Liquidity: Adaptive Stable Gcoin Crypto-currency Complemented by Margin-based New Token Liquidity Model
摘要
近年來隨著區塊鏈技術廣受關注，與之伴生的各種加密貨幣也是層出不窮。這些加密貨幣往往具有不同的功能，因而受到不少人的喜愛和追捧，成為具有經濟價值的投資品，甚至在比特幣、以太坊等主流貨幣之上建立起一系列的經濟生態圈，形成了獨特的通證經濟。處於通證經濟基石位置的比特幣、以太坊等本身價格波動巨大，從長遠來看並不適宜作為加密貨幣之本位幣，因此需要將通證經濟中的“證”和“幣”區分開來。未來具有成為加密貨幣本位幣的“幣”必須具有自我調節的能力以保證自身價格的穩定。 本文介紹目前市場主流的數字加密穩定幣，並提出了一種基於算法銀行模式的無抵押型數字加密穩定幣的協議──Stable Gcoin協議，實現了證幣分離的概念。該協議通過可變區塊鏈獎勵、穩定費用、鎖幣機制以及市場活動四大機制來維持幣價穩定，同時將區塊挖礦權單獨分離成權益證明Gtoken，避免了大量能源浪費，也鼓勵用戶更積極地維護幣價穩定。 此外，針對新生通證流通性不足的問題，本文還提出了基於保證金制度的新生通證流通模型，實現了新生通證與主流數字加密貨幣市場的異步流通。
並列摘要
In recent years, along with the fact that blockchain technology has attracted a lot of attention, various associated crypto-currencies have also emerged in an endless stream. These crypto-currencies often have different functions so that they are loved and sought after by many people. Gradually, some of them have become economically valuable investment products. And even a unique series of economic ecosystems is established on top of mainstream currencies such as Bitcoin and Ethereum, called Token Economy. However, those crypto-currencies, which are the cornerstone of the token economy like Bitcoin and Ether, have very unstable prices. This characteristic is not suitable as the stable coin for the crypto-currency in the long run. Therefore, the "tokens" and "coins" must be separated in the token economy. In the future, the “coins” that has become the stable coin of the crypto-currencies must have the ability to self-regulate to ensure the stability of its own price. This paper introduces some kinds of main stable coin. Stable Gcoin Protocol, A new unsecured stable coin based on algorithm bank model, is proposed. This protocol realizes the separation of Stable Gcoin and Gtoken. In this protocol, the stable coin maintain its price by variable block reward, stable fee, coin-locking mechanism and market activity. Gtoken represents the right of obtaining block reward. This model not only cuts down energy consumption but also encourage the whole users to keep Stable Gcoin’s stability. Besides, a new token liquidity model based on margin system is proposed to solve the problem about insufficient liquidity between new released token and mainstream market.