PREFACE
KRAG in Africa means power while X means Exchange. Thus, KRAGX means the transfer of power or governance of Defi Exchange to the users.
The control of the current financial system is rested with the central body which governs financial services through government regulations. This centralized financial system has some challenging issues that limits the optimization of its purposes.
The limitations of the centralized financial system gave rise to the need to decentralise the system, which have resulted in the proliferation of Defi services. Defi is a decentralised blockchain technology that is built mostly on Etherum. It is designed on Defi apps to provide financial services through blockchain technology. Defi applications have provided solutions to various limitations of centralized financial systems by offering banking services, elimination of middlemen and reduction of operating cost, lending and borrowing services, payment for products and services.
The upsurge of these Defi applications and crypto currencies have drawn the attention of financial policy makers, and they have tried to undermine and hinder its operations through regulations. Nevertheless, Defi will continue to grow through cooperation and dialogue with politicians and financial regulators.
Defi services are provided on application platforms and run basically on blockchain and crypto tokens.
MAIN FEATURES OF DECENTRALISED FINANCE
Minimum human interference
Non-discrimination of people
Open sourcing of code
Transparency
Permission less
Flexibility in development.
CHALLENGES OF CURRENT FINANCIAL SYSTEM
The present financial structure have some issues that limit its operations, such as;
Human Error
The financial central body is manned by human beings who may commit human errors that affect the entire ecosystem.
Corruption
The system is filled with criminal and corrupt activities resulting from quest to satisfy personal interests.
Intermediary
Most of the present financial structure operations are done by intermediaries who are paid heavily.
Loan
It is not easy to get a loan in the present financial structure. The borrower has to through rigorous process and verification. A collateral asset is also provided for the loan, which is lost in default payment.
Discrimination between the poor and rich.
Most profitable investments in the present financial structure are done by the rich while the less privileged don't have access to the stock market.
KRAGX SOLUTION
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.
KRX TOKEN
KRX token is the primary token used in financial and other transactions in KRAGX platform. It is an Etherum ERC-20 token. Its features include:
Instant swapping
Aggregate liquidity
Easy and Reliable
Security
Transparency
Permissionless
Self custody.
KRX token can be bought through smart contracts in the KRAGX platform. Once the contract is competed, the tokens are sent to the wallet of the investors.
A total of 1.5 million KRX tokens will be allocated to the KRAGX project by the management. These tokens will be distributed as follows;
Pre-ICO private sales-5%
Public sales(including bonus)-45%
Bounty and Airdrop-1%
Management team and Advisors-5%
Acquisition and partnership-5%
Company Reserve-39%.
The KRAGX platform has developed an electronic wallet and digital MasterCard to enable its users to have full access and control over their token assets and investments.
These unique features of KRAGX make it more safe, easy, profitable and friendly to investors. Therefore, KRX is a good but for investors.
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: Cinna
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2890565
Proof of Authentication:https://bitcointalk.org/index.php?topic=5313790.msg56522466#msg56522466
What a uniqe token
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