INTRODUCTION
KRAGX was developed to power the development and provision of decentralized, easy, safe and permissionless financial services and exchanges and payments of products and services.
In Afrikaans, KRAG means power while X means exchange.
Defi system is speedily becoming the means of financial transactions in the globe. It is talking over the traditional finance and banking system which is centralized and has some issues which limit its services and growth.
KRAGX intends to provide digital financing to the end users of Defi by providing solutions to the challenges faced by the traditional finance institutions in lending, payments, exchanges, etc. Its products and services can be accessed by anyone without permission. Any user with computer devices that has internet service can take part in KRAGX Defi platform. It has a token with unique features that will attract various investors and users to both its platform and Defi in general.
BENEFITS OF DECENTRALIZED FINANCE
Defi systems have the following advantages enjoyed by its users.
Transparency
Defi transactions are done openly on the Etherum blockchain where exchanges are monitored by different users on the system.
This transparency guarantees secured activities on the platform and give the users access to monitor their assets.
Self Custody
Defi users are free to control and secure their assets hence they have permissionless access to the app.
Permissionless
Anyone that has a computing device that has internet connection can access Defi services from any part of the world. With a crypto wallet, anyone can access Defi services on Etherum blockchain.
Immutability
Defi apps are monitored with tamper-proof data coordinated across decentralized structures. This enhances its security,
Programmability
Defi systems are programmed with automated smart contracts that execute the transactions on the platform.
PROBLEMS OF CENTRALISED FINANCIAL SYSTEM
The present centralized financial system has some problems associated with it which include:
Human Mistakes
Corruption
Expensive Intermediaries
Societal class discrimination
Financial Forecast Error
SOLUTIONS PROVIDED BY KRAGX
The KRAGX platform will provide solutions to these challenges by developing a secured and transparent Defi platform that will give users full control over their assets and investments. This will be achieved through smart contracts.
Smart contracts are used to perfect p2p transactions on Defi. It is selt-enforcing softwares used to facilitate, verify and execute contracts.
Smart contracts enble users to convert their assets into crypto tokens. These tokens appreciate in value overtime and can be sold, exchanged for other tokens, used as borrowing collateral and can be staked for profit.
Transactions are easy, safer, cheap with smart contracts. The cost of maintaining middlemen is saved
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.
KRAGX Defi has a crypto token that is used in transactions in the platform. It is an Etherum ERC-20 token. It gives its holders access to staking, lending and borrowing, participating in the Liquidity pool and platform governance. Its features are:
Fast Transactions
Quicker payment settlement
Holders access to future Defi services
Available to private investors
Ability to be exchanged with other tokens
It can be bought in smaller units.
The management will supply 1,500,000 KRX tokens to be distributed to the participants of the project in the following:
Public sales-45%
Pre-ICO-5%
Airdrop and bounty-1%
Management team-5%
Partners-5%
Reserve-39
USEFUL LINKS
Website: https://kragx.io/
Whitepaper: https://kragx.io/whitepaper.pdf
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/
ABOUT THE AUTHOR
Bitcointalk Username:Shantiga
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2889895
Proof of Authentication:https://bitcointalk.org/index.php?topic=5313790.msg56533177#msg56533177
This is super power Defi exchanger
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