Introduction
A common challenge every human faces is the centralization of the banking and financial systems. Every bank day leaves off a sour experience besides the exhaustion also encountered in fixing a problem or carrying out a transaction. Centralized financial systems have several third parties involved in their operations. These parties are the governing bodies responsible for making decisions, establishing law, regulation and all other necessities peculiar to a CeFi (centralized financial system). The problem of a centralized financial system is the fact that authority is given to some persons on behalf of a great lot to make choices in favour or not for the remaining population, it's high rate of commission, slow transaction process, amongst others. The innovation of a Decentralized financial system therefore, modifies these challenges ensuring the banking and financial system is more productive.
What is Swapult?
Decentralized financial systems were created to fix the challenges of the conventional banking system. Swapult is a three-layer cross-chain platform for liquidity swaps management launched on a decentralized finance infrastructure for the purpose of auctions and token pools. This swapult project is therefore a major platform which will harness and maximize the potential of decentralized financial systems with the aid of decentralized cross-chain bridges and synthetics. Basically, swapult involves the following; staking, investing, exchanging and lending cryptocurrencies.
In addition, swapult protocol is created to be a committed platform which offers swift, simple, smart and accessible liquidity to all users. Marketplaces that are also operated automatically are in its protocol whereby swapult users are allowed to enhance their efforts to yield $Swapult tokens, gain income as well as using the tokens in the digital market as a form of legal tender. This challenge is solved by the Swapult protocol project by the launch of an automatic marketplace provider known as a Smart Contract responsible for boosting services created by the market launched upon the blueprint of the market.
Swapult Token
The token of Swapult project is based on Ethereum's network hence, it is an ERC-20 token with an accrued supply of 5,000,000 tokens. These tokens will therefore become the energy supporting the platform's operations. The intention of Swapult protocol is to put the tokens for sale in the token sale event which has juicy bonuses attached to it.
Stakings:- The concept of staking is somewhat likened to the conventional system of banking whereby people make deposits to various banks or financial institutions most times as savings and the bank uses their money to regulate cash flow, not rewarding them appropriately.
However, staking is different in Swapult protocol because as users save their cryptocurrency assets in the ERC-20 based wallets, it is lent to borrowers including the maintenance of POS; Proof-of-Stake blockchain technology. For these savings, stakeholders or users gain annual income passively from the tokens.
Conclusion
The Swapult project has several interesting features that makes it reliable. It's safety is in place with the Turing protocol. A decentralized finance system is also being launched for the project to function with external administrators or third parties.
Projects Details
Website: https://swapult.com/
Whitepaper: https://swapult.com/whitepaper.pdf
Telegram: https://t.me/swapult
Discord: https://discord.gg/aG2XA2htyg
Twitter: https://twitter.com/swapult
Authors Details
Bitcointalk Username: Endpoet
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2767513
Proof of Authentication: https://bitcointalk.org/index.php?topic=5378960.msg59473452#msg59473452