Introduction
The surge in technological applications continues to grow consistently over the years. We have been to achieve tremendous feats using such developments, and more research and innovations are currently ongoing to develop new ideas and applications. Presently, we can communicate with anyone in different locations around the world, either through email or phone calls. This unifies most people and enables interaction between family, close friends, and colleagues. We can also observe the effect of this on businesses, as owners can initiate and close deals even while distance apart. While communication across the world has increased, the transfer of funds and payment options remain limited. More so, accessing loans has also been difficult and time-consuming for business owners and investors. This fuels the development of a decentralized finance platform, which is the core of the Kragx network.
A Decentralized Finance (DeFi) Platform
We can define a DeFi platform as a conglomerate of financial applications and solutions developed on a blockchain network. The primary objective of most DeFi platforms focuses on operating in a decentralized structure without the involvement of third parties such as service providers, banks, investment fund managers, as well as delivering varied financial services and instruments on a trustless, secure, and transparent blockchain network. With these offerings, numerous companies and organizations are incorporating DeFi platforms such as Kragx Network. This surge has accrued over 20 billion US Dollars deployment on several applications, which include exchange services, loan and borrowing services, tokenization services, and other financial applications, provided through decentralized finance.
All these prove that DeFi is not a particular thing, it spreads across different applications and offerings. We can extensively define it as a collation of innovative ideas and applications targeted at improving the financial services across industries, mainly the banking sector, via blockchain technology, which enables users to manage and monitor their transactions without the need for middlemen. Having the capacity to reshape major financial strongholds has pushed decentralized finance (DeFi) platforms into mass adoption within the blockchain and Fintech industries, which has also pulled the attention of key conventional financial experts and policymakers.
While the efficiency, ease-of-access, transparency, and security of financial processes and operations are immensely improved due to decentralized finance, most of the traditional financial systems are yet to have a comprehensive understanding of what it is all about. Most of them do not understand how DeFi can improve the operational, technical, and regulatory challenges affecting the financial system. This unawareness is what the Kragx network intends to address by introducing its platform to most traditional financiers. They strongly believe that their platform can contribute to the growth and development of decentralized finance, and they are working with great resolve and tenacity to achieve that. Kragx Network team will collaborate with political figureheads and have extensive dialogue and integration with regulatory supervisors, and traditional financiers on how to adopt the DeFi platform and the benefits associated with it.
The urge and objective to achieve this is what fueled the development of the Kragx network. The founding members observed the high importance of providing alternative payment solutions, varied earning methods, decentralized governance, and different channels of transaction. The Kragx Network was founded bearing in mind to deliver these to clients and investors in the financial sector. Providing sustainable solutions proves that a platform has the power to drive the industry it thrives, and Kragx Network believes its platform can revitalize the financial system, this gave birth to their name – Kragx. In Afrikaans, KRAG simply means Power, while X stands for exchange. The interpretation of the name shows that the platform intends to empower users with a decentralized system, and establish a system that supports the growth of community members. Users and Investors who own KRAGX tokens are eligible to perform various banking activities such as investments, loans, exchange, and staking.
About Kragx Network
This decentralized finance platform focuses on enabling its users' unrestricted access to novel DeFi financial products, centering on financial health and investments. Each of these financial products on the network offers fascinating benefits which is an improvement from the traditional financial system, a good example is the asset-backed money market funds with interest rates. Through blockchain technology and smart contracts, Kragx enables automatic sequence for all manual processes of investing in crypto collateralized loans and combines client demand across the industry with an accessible and highly advanced wallet platform.
Kragx DeFi is an emerging platform dedicated to delivering smart, accessible, quick, and efficient financial services for trading, payment solutions, decentralized transactions, investments, lending crypto assets, integrated market innovators, and financing. It is a sustainable mechanism designed to benefit DeFi providers and investors. The team intends to create new economies that will eliminate the activities of middlemen, as this will reduce time consumption and additional transaction fees. The development team built a theoretical architecture for DeFi products and community participation, which will deliver a contemporary adoption and utility model among its applications. The platform gives complete control to its token holders to access the interactions and offerings available on the platform; among all these applications and offerings on the platform, the primary feature centers around a decentralized and secure network.
How Does Kragx Network Work?
The project intends to operate a community-driven platform where its members will receive access to the network’s resources. This special governance approach and strategy will help the DeFi platform to grow and enables access to all users in the ecosystem. Kragx’s DeFi platform is universal and can be easily integrated into any company or business. The majority of the activities and applications on the Kragx network will be mainly accessible to token holders. This is because the usage of the token accelerates uniformity and integration among all community members.
As a decentralized platform, it operates with an advanced security level for its infrastructure, which helps protect the assets and data of clients. More so, this secure platform enables anonymity between parties involved in transactions. However, token holders govern and decide on activities on the platform such as voting exercises and loan bidding. They also proffer suggestions for improved performance. Kragx network is an emerging and innovative approach to incorporate its smart offerings with elite and excellent functionalities.
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/UCQXzubCYqUb6dNMp3NEoW9w
AUTHOR'S DETAILS
Bitcointalk Username: Onyiiok
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2766257
Proof of Authentication: https://bitcointalk.org/index.php?topic=5313790.msg56523625#msg56523625
Eth Address: 0xC6F3c5821Fd62421c6A03888e9Ff8b8C2483B9Bd