Intro
Ever wondered what DeFi and NFT love child would look like? Is s/he gonna be huge or hairy? Wonder no more!
So let's back up a bit. Who or what in the blazing hell is DeFi and the other one, NFT?
DEFI
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A $20.5 billion worth financial tool, Decentralized finance (or just DeFi) is a nascent cryptocurrency niche that is a blockchain-based form of finance that does not rely on central financial intermediaries such as brokerages, exchanges, or banks to offer traditional financial instruments, and instead utilizes smart contracts on blockchains, with Ethereum being the initial starting platform before the rest of the contestants like Binance Smart Chain, Polkadot, Polygon, Tron, Litecoin, joined the fray. DeFi uses a layered architecture and highly composable building blocks, with some dapps touting high interest rates but are subject to high risks like rugpulls, bugs and hackers. DeFi platforms allow people to lend or borrow funds from others, speculate on price movements on a range of assets using derivatives, trade cryptocurrencies, insure against risks, and earn interest in savings-like accounts.
NFT
Right, since we have that out of the way, let's talk about NFT. Like it's betrothed discussed earlier, its another craze in crypto and even more recent. A non-fungible token (NFT) is a unit of data stored on the blockchain, trustlessly certifying a digital asset to be unique and therefore not interchangeable, thus non-fungible . They can be used to represent items such as photos, videos, audio, and other types of digital files. Access to any copy of the original file, however, is not restricted to the buyer of the NFT. While copies of these digital items are available for anyone to obtain, NFTs are tracked on blockchains to provide the owner with a proof of ownership that is separate from copyright.
NON-FUNGIBLE DEFI
Right, so since we've described the lovers, that should give an idea how the baby would look like. Non-Fungible-Defi is a next-gen innovation which
creates an Ecosystem made up of its parents NFT’s and Defi reeking with high
Yield Farm pools and insane APY’s and user
generated NFT’s all at a single place.
NFD Ecosystem
The NFD is made up of a burgeoning ecosystem of NFD AMM DEX, NFD Wallet, NFD Games, NFD NFT Marketplace and finally the NFD token. 5 fingers of the newborns, if you wish.
NFD DEX: A decentralized Exchange is a type of exchange, which unlike its centralized buddy, is an Automatic Market Maker, with no order book and is big on privacy lowering the trading fees per swap transaction. Where big DEX’s charge 0.5-1% fee per transaction , NFD DEX will charge only 0.2% fee.NFD DEX will also maintain the lowest slippages by using Binance Order book API thereby making it revolutionary. You can earn dividends by staking and farming tokens. NFD Farming/Staking: Our best in class Yield farm pools and staking pools designed to provide dividends with cutting edge technology provide Triple Digit farm APY’s as well as easy to use UI makes it super easy to earn NFD whilst being a holder
NFD Wallet: The highest Security wallet coded with specific oracles and interactive UI where users can easily hold and store their NFD tokens as well as other BEP20 tokens and also transfer to others from the wallet itself.
NFT Games: NFD creates blockchain-based games which allow users to enjoy seamlessly high graphic gaming along with high potential to earn tokens and rare NFT’s(which can be traded in the marketplace) as rewards. The token rewards are distributed when a player reaches a certain milestone whereas, custom built
highly rare NFT’s will be rewarded to the top player of each month.NFD Marketplace: NFD marketplace is the most viable and unbiased marketplace to buy and sell high valued rare NFT’s openly by paying the lowest fees in the market allowing users to host auctions for certain NFT’s with immense value with 100% transparency.
NFD Token is a governance token which powers the NFD Ecosystem. The token will be used to gain full access to all Non-Fungible Defi products. Owners of this token will earn for utilizing it on the DeFi product especially through staking, farming and gaming platform. NFD games that allow you to (potentially) earn crypto while playing online. NFD games are a mix of thrill and potential profitability. Playing these games to potentially earn crypto requires you to learn about the game and how to win to receive monetary rewards
Conclusion
Now, this baby aint no ordinary toddler. Its got some kickass abilities.
NFD RESOURCES
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About the Author
Joseph Johns is a successful Emergency Medicine Physician and an ardent cryptocurrency and Blockchain connoisseur
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