ABSTRACT
KRAGX is a Defi blockchain that specialises in developing applications that offer financial services such as investing, lending, Asset swapping, asset staking, liquidity pool and yield farming. It 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.
INTRODUCTION
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.
Defi services are decentralized and built on smart contracts and blockchain technology which removes the activities of middlemen and traditional banking systems. The recent developments in the Defi system have attracted the attention of traditional finance policymakers who don't understand the Defi system and are trying to undermine it through regulatory policies. Nevertheless, the Defi have continued to grow through dialogue and cooperation with the regulatory bodies.
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.
FEATURES OF Defi
The operations of Defi services involve the following tools:
Blockchain
This is a digital ledger in the form of a spreadsheet that records and updates all valuable transactions across computer networks.
Tokens
These are virtual currencies that reside in their respective blockchains. They are digital assets and can be used to raise funds during ICO. Crypto tokens can be used to pay for products and services and it is fast becoming widely accepted as a means of exchange in the world. Its holders are like shareholders in the blockchain.
Defi
Defi is a digital decentralised platform that provides financial services such as payments for goods and services, borrowing, lending etc. Defi mediates between the traditional finance systems and decentralised cryptocurrencies. It is in the form of app and built mostly on Etherum platform.
The features of Defi are;
Minimum human interference.
There is no much human control in Defi platforms as all its activities are programmed.
Use of decentralised system
The system is defined by decentralised data and algorithm.
Open source coding
The coding of Defi is open to the users. This assures the users of the safety of their transactions because nothing is hidden in the background.
Inclusive
Defi systems do not segregate anyone, it can be accessed by anyone who has a computer device that is internet enabled.
Permissionless
Users of Defi do not have to get permission from anybody or organization before they perform their transactions. It is safe and easily accessed by all.
Development flexibility
Defi systems are diversifyable. The users can incorporate third parties or create their own interfaces if the options are not adequate for them.
ADVANTAGES OF DECENTRALISED FINANCE
The Defi systems have some benefits that are enjoyed by its users, such as ;
Self Custody
Users of Defi take full custody and control of their assets and transactions through the use of electronic wallet.
Transparency
Defi transactions are open to all the users. It is operated in Etherum blockchain and each transaction is checked.
Immunity
There is the use of tamper-proff of data across blockchain decentralized structure.
Programmability
Defi systems are programmed to operate by smart contracts which coordinates its activities.
Permissonless
Defi systems are not regulated like the traditional finance system. It is accessible by anyone with an internet enabled device.
KRAGX SOLUTIONS TO THE WORLD FINANCIAL COMMUNITY
Financial activities across the world are faced with various issues that hinder the optimization of financial services. The current structure of the financial systems have various issues that affect its effective performance. These issuing are:
Decision Making.
The current financial system structure is centralized and controlled by a central body which makes decisions about the governance and operations of the entire system. This central body is usually influenced by the political class. Thus, any wrong decision they make, affects the whole system adversely.
Corruption
Corruption is the main bane of the Centralised finance system. The central body acts to protect its interest and that of the government and politicians to the detriment of the overall interest of the society. He who pays the piper, dictates the tune.
Risk of Calculating Market risk
Investors in the current financial system consult financial experts before investing in financial instruments. These experts can make mistakes in their prediction which may lead to loss of assets and investments.
Expensive Intermediaries
Transactions in the centralized financial system require the use of intermediary who perform certain activities. These intermediaries delay transactions and they make the system to be expensive.
Processing of Loans
The process of acquiring a loan is very tedious and tasking in the present financial system. There are lots of procedures and criteria meet by the borrower.
Human Error
Most activities in the present financial system are done by human beings who are prone to making mistakes.
KRAGX Defi has projects to ameliorate these issues through smart contracts on its blockchain.
Smart Contracts
Smart contracts are digital contacts in the Defi app that enable the enforcement of easy and secured transactions among users. Blockchain contracts are executed when all conditions are verified digitally. Smart contracts eliminate human errors, intermediaries, corruption and it is easy, cheaper and faster.
Smart contracts can be used to perfect certain Defi functions like lending and borrowing, payment for products and services, crypto trading, wealth management, insurance devices and other derivatives.
Smart contracts in the Defi can be used to resolve all the issues that militate against the present financial system. Its features include:
Assets Tokenization
An investor can convert his/her assets into crypto tokens in the decentralised financial system. The tokens can be invested, used in the purchase of goods and services, used as colleteral in borrowing and can also be sold when its value appreciates.
Token assets are controlled by its owners and accessed by anyone, both rich and poor.
Faster and Cheaper Transactions
The use of smart contracts techniques in the Defi makes the transactions cheap and easy. It eliminates the use of middlemen and the resultant costs of using middlemen such as costs of verification, consultancy fees and loan application hurdles. The participants do their transactions at will with any permission or verification.
Open Lending Process
Defi smart contracts have enabled easy and secured lending services. A user can lend or borrow money easily from the Defi platform. A lender can deposit assets on the platform and earn interest while a borrower can borrow money instantly in-as-much-as the terms of the loan is verified and met. All these actions are automated by smart contracts.
Investment in KRAGX platform can be done through smart contracts on Defi apps. KRAGX investors are rewarded with KRX tokens which are allocated to their wallets.
KRAGX platform has launched a Defi wallet which helps its participants to take full custody and control of their assets. They also launched a digital MasterCard which is linked to the wallet of each user.
KRAGX TOKEN
KRX is the basic token of the KRAGX platform. It is a Etherum ERC-20 based token.
The management will supply 1,500,000 KRX tokens to the platform which will be distributed in the following;
KRX tokens have the following unique features;
It is secured
It is decentralized
Anonymous
It can be staked
It can be exchanged with other crypto currencies.
It can be used as collateral for borrowing
It is highly liquid
It can be used to power future Defi.
CONCLUSION
KRAGX is a revolutionary Defi platform which has solutions to the issues challenging the present financial system. It has developed some smart contracts on its Defi which will solve the challenges of the present financial system.
DISCLAIMER
The contents of KRAGX white paper is for information purposes and not advice for investment. Participants must consent to be aware of the risks in cryptocurrencies, which KRX is part of. Thus, investors are advised to consult financial and legal experts for professional advice.
KRAGX will not be liable for any loss suffered by any investor
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: Seasleep
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2768222
Proof of Authentication:https://bitcointalk.org/index.php?topic=5313790.msg56519313#msg56519313
This is good buy.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I must invest on KRX
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit