Mercury Protocol

Inspiration: We have seen the value created by Uniswap by solving the problem of deception caused centralization. The system improves the existing crypto cloud mining in a decentralized way.

What it does: Mercury is a DeFi computing power asset derivatives infrastructure protocol. Developers can design and develop computing power derivatives based on Mercury Protocol. DCM (Decentralized Cloud Mining) is the first App on Mercury. It calculates mining revenue through DCM to ensure open and transparent return on investment and solve the problem of traditional centralized revenue distribution.

How we built it: Decentralized Cloud Mining is Mercury Protocol's first Dapp application. DCM, combines cloud computing power with DeFi based on blockchain technology, solves the issue of platform moral hazard in traditional cloud computing power hazard through a decentralized benefit distribution method. Mercury will issue NFTs representing their computing power ownership to users participating in decentralized cloud computing power mining. NFTs can be circulated in Cex and Dex. The NFT held by user exchanges is equivalent to transaction computing power ownership, which will solve the problems of low liquidityof cloud computing power.

Challenges we ran into: Conversion from ETH contract to Solana contract

Accomplishments that we're proud of: We have reached a strategic cooperation with a well-known mining company, and the two parties have jointly established a computing power test pool (including 3 million US dollars worth of Bitcoin mining machines) for testing and optimizing the income distribution algorithm.

What we learned: Good projects need good ecology and partners support. We hope to cooperate with more ecological projects to jointly promote the ecological innovation of cryptocurrency.

What's next for Mercury Protocol: We expect the DCM platform will be launched in the next quarter, and the matching of computing power transactions of more than 10 million U.S. dollars will be completed.