Yuan Bao is the first and most successful Chinese cryptocurrency, currently ranking as the top Chinese cryptocurrency and in the top 20 globally. It uses a hybrid Proof-of-Work and Proof-of-Stake system along with an ASIC-resistant algorithm. Yuan Bao aims to serve the Asian markets and support entrepreneurship through its digital asset trading platform YBEX.CO, which facilitates crowdfunding and trading in a secure, third-party verified manner. It also hopes to promote charity and public welfare through a "Proof of Contribution" system where cryptocurrency is distributed based on good deeds rather than mining.