Cryptocurrency is a term that more than half of the world's population should have come across. Who hasn't heard about the Bitcoin innovation? Bitcoin brought about the existence of blockchain which was created for the sole reason of bitcoin. Decentralized Finance(DeFi) surfaced years later and changed the level which blockchain was originally at. The traditional financial systems we see in our world today carry out their financial operations in a centralized manner thereby giving room to manipulation and corruption. To handle these problems of the centralized systems, there is a need to move power from centralized to decentralized in order to have more freedom with one's assets. This notion was what brought about the introduction of DeFi. Cryptocurrency itself isn't yet fully adopted globally, so not even DeFi has reached the stage of global adoption, although it is an ongoing process.
Products of Smarts
- Smarts staking: Users can stake their SMAT token and other ERC20 based tokens such as UNI. They can also add reputable tokens that will be carried out through the governance model. Before the staking dashboard is released to the public, the lock period and APY yield of SMAT will be let known to the smarts community. Users will be rewarded daily depending on their participation in the pool. 20% of the total reward pool goes to staking rewards. 50% of the staking rewards will go to SMAT staking while 12.5 will be for four other staking options. Users can decide to change the way the staking operations are distributed through the governance model. The governance model is a big step to users implementing the rules of smarts staking by choosing what value limit should be allocated to the different staking options in the smarts ecosystem, although the value limit for COMP is $200,000 while that of UNI is $250,000. Setting a value limit for these staking options means better incentive yield.
- Smarts lending and borrowing: If a borrower meets the required collateral to take up a loan, they can request for a loan from a money market. The lending and borrowing use cases in DeFi makes the holding of crypto assets as collateral for other assets a meaningful effort. Though, the crypto assets used to serve as a collateral for other assets will be over-collateralized. Through their money market model, smarts can carry out a lending and borrowing function either directly or indirectly(sourced from outside the platform). In a typical DeFi project, borrowers have little or nothing to benefit apart from the borrowing option and its use cases. Smarts makes it possible for both the borrower and the supplier to be rewarded in SMAT token daily with the help of an allotment reward pool.
- Liquidity mining: Liquidity providers does an important role in Decentralized Finance because of their contribution in trading digital assets. In the smarts ecosystem, yield farmers are given the opportunity to farm different pools, starting with the SMAT/ETH pool. This pool is where 50% of the mining rewards will be distributed to. The addition of pools will be effected through the governance model by holders of SMAT and the community.
Useful Informations :
Website : https://smarts.finance/
Twitter : https://twitter.com/Smarts_finance
Telegram : https://t.me/smartsfinance
Discord : https://discord.com/invite/rertF5a
Medium : https://medium.com/@smartsfinance
Youtube : http://www.youtube.com/channel/UCp58Zt6o88nj9jH8tKtvzSw
PUBLISHERS DETAILS :
Bitcointalk Username : Ebewah
Bitcointalk profile link : https://bitcointalk.org/index.php?action=profile;u=2835164
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