INTRODUCTION TO KRAGX
In Africa, KRAG means power and X stands for Xchange. The ownership of KRAGX tokens gives the owner the power to invest, lend, exchange and earn interest as the value of the tokens grow.
KRAGX is a decentralised Defi that gives its users access to various financial products that focuses on health and investment. These financial products are backed by funds with interest rate and perform better than traditional finance counterparts.
There is an unprecedented growth in the Defi system recently. Multi-billion dollar have been extended and distributed across various Defi applications to offer financial, exchange, monetary banking and tokenization services. These services are aimed at reshaping financial services using blockchain technology and getting rid of middlemen.
These services have made Defi popular among financial communities and drawn the attention of the government and financial policymakers who don't understand the operations of Defi and have tried to stop the use of the Defi and cryptocurrencies in financial transactions. The policy attack on Defi is a challenge to its future development and growth. These challenges should be resolved through dialogue, corporation and integration political, regulatory stakeholders in order to promote the growth and success of Defi.
BLOCKCHAIN
Blockchain is an electronic record of valuable economic transactions in digital spreadsheet across a network of computers. The spreadsheet is designed to be updated regularly and the information is regularly shared to the public for easy reconciliation.
TOKENS
Crypto tokens are financial assets or utilities that are used for transactions on their blockchains. Tokens are coins issued to raise funds on ICO of Defi platforms and are referred to as shares purchased on IPO of corporate organizations.
Defi
Decentralized financial services (Defi) is an improvement of the traditional centralized financial system. It is a process of providing financial services in small financial applications and in a decentralised form.
Most Defi platforms are in the form of financial apps created on blockchain to offer financial services as lending, borrowing, payment for goods and services etc. Most of these apps are built on Etherum blockchain.
KEY FEATURES OF DECENTRALIZED FINANCE
Minimum Human Interference
Defi apps use smart contracts to execute financial and other forms of transactions. This reduces human involvement.
Open Source Coding
Most Defi apps are coded from open source. This makes the users to have confidence and trust on the running of the platform, since they can check its features and ensure it doesn't have any hidden format that can harm the user.
Permissionless
Defi systems are open and accessible to everyone. There is no verification or permission that is needed to get financial services in the Defi.
Inclusive
Defi system is open and inclusive to everyone around the world. Anyone that has a computing device with an internet facility can access Defi services.
Development Flexibility
Defi users can integrate third-party applications over a Defi app, giving the developers flexible opportunity.
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.
KRAGX Defi Investment Opportunities
Investors can purchase KRAGX tokens and have the opportunity to benefit from the liquidity and growth in the value of the tokens. The Defi system is speedily becoming the means of financial transactions and the crypto market is booming with funds that are locked-in for financial services. This increases the values of cryptocurrencies.
Thus, purchase of KRAGX tokens is a good investment.
Role of KRAGX In Changing Global Financial Architecture.
The current financial architecture is centralized and financial currencies used for financial transactions are printed and controlled by a central authority under government policies and proclamations.
There are various challenges that face the current financial architecture which the Defi intends to provide solutions to through blockchain technology. These issues include;
Human Error
There are lots of errors that can occur in the execution of financial services. This is resulting from human handling of the central body.
Decision Making
Every decision made in the present financial architecture is done by the central body. Therefore, any wrong decision they make affects the entire system adversely.
Corruption
Corruption and other criminal activities are the main challenge of the centralized financial system. The central bank has full control of financial activities and sometimes they act to protect the interest of politicians. Like in the case of Nigeria where the Central bank banned the trading of cryptocurrencies in the country in order to satisfy the government of the country.
Loans
The process of getting a loan in the centralized financial system is so tasking and borrowers at times lose their valuable assets used as colleteral in the loan when there is default in payment.
Expensive Intermediaries
Transactions in centralized financial system require intermediates to verify and perfect the transactions. This limits the transactions done in the system and also makes it expensive to operate.
Discrimination of the Rich and Poor
There is a huge disparity between the poor and rich in the decentralised financial system. The rich has majority of the shares of blue chip companies without allowing the poor to have access to these companies.
KRAGX SOLUTIONS TO THESE PROBLEMS
Defi systems are based on blockchain technology built on smart contracts which gives its users complete control over their investments.
Smart Contracts
This is a digital legal contract. It is a p2p contract enforced when all conditions are met and verified by independent computer softwares without human interference.
Smart contracts do not need intermediaries. This limits human errors and corruption and also makes the system to be cheap, secured and faster.
Smart contracts can execute some financial functions like online payment for goods and services, credit lending/borrowing, crypto and other financial assets trading and many more to be added.
Smart contracts have the potentials to provide solutions to virtually all the challenges faced by the decentralised financial system.
Asset Tokenization
The users assets are represented in digital tokens in a decentralised financial system. These tokens can be exchanged, sold, bought or borrowed at the will of the owner. This makes the process much faster, transparent and reduces corruption and the rich/poor discrepancies.
Open lending
Anybody can apply for loan in the decentralised financial system. The lending process is based on blockchain protocol and is easy to be executed using smart contracts.
Lenders deposit money and earn interest when another person borrows the money.
Cheaper Transactions.
Decentralized financial services are majorly peer-2-peer transactions. There is no intermediaries in the transactions and saves some costs of maintaining these intermediaries.
INVESTING IN KRAGX
investors can invest in KRAGX through the purchase of KRX tokens. This can be done by initiating a smart contract the company Defi app. The KRX tokens will be allocated and sent to the user's wallet once the contract is concluded.
The management of KRAGX developed a Defi wallet that will enable users to have full control and protect their assets and data.
The wallet offers the following values:
It is configured to require at least two keys to authorize a transaction.
It places full control of private keys in the hands of the owner.
It doesn't reveal the identity of the sender and receiver in one transaction.
The users can stake their assets to a validator and earn rewards.
Users can swap their crypto and receive cash back.
The wallet accepts USD, EURO and other local currency globally. It can be used to purchase top crypto currencies like Bitcoin, Etherum etc.
The wallet is reliable and easy to operate and is available on Desktop and mobile devices.
The wallet allows easy p2p exchange of crypto assets without any intermediary.
Transactions in the platform are fast and easy.
LIQUIDITY MINING AND YIELD FARMING
Liquidity Mining is a process whereby a miner provides funds to the company and earns interest at an agreed rate and also they are rewarded with tokens. The provided funds are used to develop the platform and also lend to borrowers to earn interest.
Participants in KRAGX yield are rewarded with KRAGX tokens for taking part in investing, staking, depositing and borrowing in the Liquidity pool. These incentives help to maximize the assets of the participants.
TOKENOMICS
KRAGX token is the basic token used for transactions on the KRAGX platform. It is an Etherum ERC-20 based token that gives its holders access to staking, lending, borrowing and taking decisions in the governance of the platform. Its features include:
Faster transaction.
Power to enjoy future Defi services and products.
It is an ERC-20 based token used within Defi systems.
It can be exchanged with other cryptocurrencies.
Lending and payment settlements are fast and easy.
It is liquid, durable and investor friendly.
The KRAGX tokens are distributed to participants in the following percentage:
Public sales-45%
Pre-ICO sales-5%
Airdrop and bounty-1%
Team and Advisors-5%
Acquisition and Partnership-5%
Company Reserve-39%
WARNING
Investing in cryptocurrencies are associated with risks. Participants should be aware of these risks and should consult legal or financial experts for professional advice.
KRAGX will not be responsible for any loss or damages incurred by participating on KRAGX platform.
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: Movearmy
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2768203
Proof of Authentication:https://bitcointalk.org/index.php?topic=5313790.msg56513072#msg56513072
I love this Defi. I need to invest on it.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
This Defi really has solution to present financial system
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit