ABOUT KRAGX
The world has witnessed the eruption of many Decentralized Finance exchange platforms that allow digital tokens to be used in transacting and exchanging certain goods and services. Across the world, Billions of USD are distributed across various Defi applications to be used in providing financial services like borrowing and lending, monetary banking, tokenization services etc. This development is geared towards improving the financial system through blockchain technology, thereby tackling the issues with the traditional centralized financial services.
TRAGX is a Decentralised Financial exchange platform that aims at adding more payment systems, means of transacting, decentralized governance and methods of earnings in the Defi.
The project is a combination of gains and corrected challenges of past Defi projects in order to give maximum benefit to Defi investors. It gives its participants full control of their assets and allows p2p transactions.
Most of the Defi platforms are in the form of Apps built on blockchains that are based on Etherum. Most Defi have the following features:
Unlimited Access
Diverse Development
Open Source Coding
Minimum human interference
Decentralised Governance
KRAGX SOLUTION TO PRESENT FINANCIAL SYSTEM
The present financial system has many problems that are impeding the success of the financial ecosystem. The system is centralized and most financial decisions are taken by the central body under the regulations of the national government. This have led to the following issues;
Human Error
Poor calculation of market risk
Corruption
Expensive intermediaries/middlemen
Stringent Loan conditions
Discriminating the poor and the rich.
KRAGX will provide solutions to these issues through smart contracts on its Defi platform.
Smart contracts are self-enforcing softwares used to negotiate transactions. It is digital contracts that are triggered when all conditions are met.
Smart contracts can be used in diverse financial services such as payments for goods and services, lending and borrowing, asset trading, wealth management etc. It can be used to eliminate the problems of the present financial system in the following ways:
Asset Tokenization
Smart contracts are built on blockchains in Defi platforms. Transactions in Defi platforms are done with crypto tokens. These crypto currencies value increases over time and can be used in financial transactions.
Investors can convert their assets into tokens and take control of their assets. This ends all kinds of corruption, manipulation and discrepancies.
Transparent Transactions
Smart contracts on blockchain technology eliminates all kinds of middlemen as the user initiates and completes the transaction. The reduces the cost of transactions, and it is safe, secured and transparent.
Open Lending Procedures
The process of lending and borrowing in Defi platforms are open to all participants. There are no hidden charges or stringent protocols.
The lenders provide assets to the platform and are rewarded with crypto tokens and also earn from the interest gained from lending the assets. Long term investors earn additional interests.
The deposited assets are used to fund projects by the borrowers. The borrowers will also get KRAGX tokens as discount incentives.
LIQUIDITY MINING AND YIELD FARMING
Liquidity Mining is an integral feature of Defi protocol. It is a process where
an investor (yield farmer) contributes his asset to the platform and earns returns at an agreed rate.
Participants in KRAGX Yield Farming will be rewarded with KRAGX tokens for investing, staking, depositing and lending.
Automated Market Making
KRAGX will operate an automated system which allows free custody and trading of digital assets that are built on smart contracts and controlled by algorithms.
ABOUT KRAGX TOKEN
KRAGX Defi has an official (KRX) token which is used in transactions on its platform. KRX is an Etherum ERC-20 token which gives its holders access to staking, lending, borrowing, Liquidity/Mining pool and also participating in community governance.
Its features are:
Power to enjoy future Defi services
Faster transactions
Quick payments
Ability to be exchanged with other tokens
Investor friendly.
PROJECT LINKS
Telegram: https://t.me/kragx_chat
Twitter: https://twitter.com/kragxk
Instagram: https://www.instagram.com/kragx_/
Reddit: https://www.reddit.com/user/Kragx_
YouTube: https://www.youtube.com/channel/UCQXzubCYqUb6dNMp3NEoW9w
Website: https://kragx.io/
Whitepaper: https://kragx.io/whitepaper.pdf
WRITER'S IDENTITY
Bitcointalk Username: @onyeagwaojoo
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2890534
Proof of Authentication:https://bitcointalk.org/index.php?topic=5313790.msg56526828#msg56526828