LOOF

Since its inception in 2008, blockchain technology has developed for more thanadecade. Over the past decade, blockchain, which was initially bound with digital
virtual currency, has gradually developed into an industrial chain with unique
application and value attributes; blockchain initially only discussed by the technologycommunity, now attracts the attention of major countries in the world. Its
development path has gradually become clear. In recent years, with the expansionof
cryptocurrency represented by bitcoin, crypto assets have been accepted by more andmore organizations and users, and traditional capital is also accelerating its entry intothe cryptocurrency market. As the blockchain technology that supports the operationof encrypted assets has received great attention worldwide, innovations are graduallychanging the global financial development system. It was created behind the online cash currency bitcoin and has the potential togrow to be bedrock of the worldwide record-keeping systems under Ethereumsmart
contract and DeFi ecology. 2019 Was The Year of DeFi. The market experienced
explosive growth beginning in 2020. According to tracking service DeFi Pulse, the
value of digital assets locked into DeFi services grew from less than $1 billion in
2019 to over $15 billion at the end of 2020, attracting many financial users like Wall
Street investors. At present, many DeFi applications have explored some basic
operation modes, which play an important role in weakening the organizational role
and reducing intermediary costs of centralized institutions, and reducing financial
regulatory restrictions. The DAO is a digital decentralized autonomous organization. The DAOhad anobjective to provide a new decentralized business model for organizing both
commercial and non-profit enterprises. As a blockchain-enabled organization, The
DAO claimed to be completely transparent: everything was done by the code, whichanyone could see and audit. That is how Loof (www.Loofdao.com) came into being