INTRODUCING SMARTS
Smarts is a decentralised financial platform that projects to provide fair, flexible and secured Defi based products and services.
They have a team of dedicated and experienced individuals who have conducted thorough research on crypto Decentralised Finance services, discovered its challenges and provides solutions towards solving them. The challenges to the present Defi services as follows;
🔹 lack of proper rules and regulations to effect true decentralisation due to poor organized structures and executions.
🔹 lack of proper accounting and documentation by some projects which leads to exploitation of investors.
🔹 unstainable reward mechanisms that discourage investors.
The following solutions were provided to these challenges of Defi by Smarts Finance. Thus,
🔹 they project a sustainable reward to investors.
🔹 they operate a transparent, secured and open administration.
🔹 they have standard accounting principles and good documentation of transactions to erase trust issues.
There are some unique features that differentiates Smarts from other existing Defi platforms, which include;
🔹 Staking of other tokens rather than only the platform token.
🔹 A model of lending that benefits both the lender and borrower.
🔹 Reward of both SMAT and other liquidity mining token on a single Liquidity Pool token.
🔹 Minimized transaction costs by distributing gas fees in Liquidity pooling functions.
🔹 Rewarding of SWAT and other trending token on their lending products.
🔹 High yield and sustainable lock-up liquidity mining model.
STATEMENT OF VISION
Their vision is to improve the negative sides of decentralised finance such as users and projects that have bad intention of deceiving their users - and removing the need to trust. They intend to work on the existing products with different dynamics in order to contribute to the growth and stability of the Defi.
Smarts has a plan of consolidating on existing Decentralised Finance services like Lending, staking, governance, mining, yield farming etc, to introduce an unprecedented improved and sustainable platform.
SMARTS COMMUNITY GOVERNANCE
The implementation of the basic standards of the Smarts systems will be supervised by founding members of the company. They will gradually transfer the governance of the company to the community in order to decentralise the control. The first action towards decentralization is granting of multi wallet holding to popular community influencers, who will be the first team of advisors to the company.
Holders of SMAT token can vote for change in the system if they meet certain criteria such as having the minimum token required to meet voting strength and having a good reputation and activeness in past community activities.
The voting mechanism is liable to change per basis of the community suggestion and consensus.
A SMAT governance token must be held for 14 days to be qualified to vote on a control proposal.
Holders of SMAT can perform the following governance functions which include;
🔹 Proposing terms of contract and oracles update.
🔹 Changing of interest rates of products and services.
🔹 Proposing of listing of new token market.
🔹 Assigning new admin or multi wallet individuals.
🔹 Redefining reward structure and distribution
NATIVE TOKEN
Every crypto project has a native token it uses in its platform. Hence, SMAT is the native token of Smarts Finance. SMAT is an Etherum ERC 20 standard token. It is used to control and oversee the governance and decisions of Smarts Finance.
SMAT will be traded on centralised and decentralised exchanges. The management of Smarts has projected the supply of 1,000,000 SMAT tokens which will be distributed as follows;
🔹 60% is allocated for staking, mining, lending and governance.
🔹 10% for project reserve.
🔹 5% for ecosystem, partnership and Exchange.
🔹 3% for marketing and promotions.
🔹 1% for advisers
🔹 9% for the management team.
🔹 12% for fundraising, hiring and project development.
SMARTS PRODUCTS
Smart Staking
Smarts allows users to stake SMAT and other established tokens like BTC, UNI, COMP etc. It has a staking pool out which 50% of the staking reward will be allotted for SMAT staking.
The staking process takes 2 directions.
The first pool will receive 27% reward on SMAT staking, while the second pool takes 23%. The staking period is segregated into;
🔹 7 days staking
🔹 14 days staking
🔹 30 days staking
🔹 3 months staking
🔹 6 months staking
The reward for daily staking differs and depends on the number of days the token was staked. The higher the number of days, the higher the returns.
Other tokens are not Lending to staking period and can be withdrawn at user's discretion.
SMARTS LENDING
Borrowers
Borrowers request loan from the market by providing adequate collateral to cover the loan requested. The collateral is represented in SMAT token and also qualifies accumulate interest. This gives the borrower incentives.
There is no schedule for payback of borrowed assets. Smarts allows open lending, trustless and flexible lending actions.
Suppliers
Suppliers of funds are lenders who deposit their assets in the Liquidity pool. They receive equivalent SMAT tokens for assets deposited and also receive interest on the deposited assets.
Assets deposited in the pool can be used as collateral to borrow from the market and can also be retrieved from the pool by depositing equivalent SMAT tokens.
The Smarts Finance has a reward structure that benefits both the lender and borrower in order to encourage more activities on their platform. Both borrowers and lenders are rewarded with SMAT tokens and a portion of the earnings are distributed evenly between the lenders and borrowers. This structure is subject to change by the dictates of the community governance and SMAT holders
LIQIDITY MINING
Smarts Finance is focused on returning incentives to Liquidity providers who are the core pillars that make the decentralised finance feasible with the funds they provide.
Smarts will allow Liquidity mining practice which will feature many pools with the initial implementation of SMAT/ETH. The addition of other pools will be decided by the governance of the community and holders of SMAT.
The added pools will feature ETH/BTC and other stable crypto coins to enhance safe and low risk mining.
A pool of SMAT/ETH is created after the public sale. Users are allowed to deposit and verify their tokens before the pair is made available for trading. They are rewarded with SMAT tokens in proportion to their deposit in the pool and can be redeemed at expiration of the lock-up period. The SMAT generated from the deposit function also qualifies its holders for governance and voting functions. The holders of SMAT and the community governance system decide the addition of other pools, through a consensus.
SMAT/ETH pool has a lock-up period of at least 6 months and can be extended in agreement with the community.
A fee of 0.4% will be charged on both buyers and sellers of SMAT, totalling 0.8%. The LP will be given 0.3%, while 0.5% will be kept for buybacks.
Liquidity providers will earn juice rewards for locking their tokens according to the size and weight of the locked tokens. This enhances the Liquidity of SMAT.
SMARTS FEATURES
There are some characteristics that distinguishes SMAT finance from other decentralised financial exchange platforms. They include;
Security
Smarts will engage the services of blockchain experts to make public auditing of their smart contracts.
Accessibility
Users of Smarts web App are allowed to access all Defi based services.
Transparency
All activities in the Smarts ecosystem will be made available for the perusal of the community in due time.
Community Associate
The Smarts ecosystem has a unique governance model that is fully backed and managed by the community.
Liquidity
The Smarts platform has a structured pool mining process that makes it SMAT token to be marketable and liquidate easily. Thus, it is a very good investment opportunity to investors.
RISK/DISCLAIMER
The SMAT token is not to be sold or distributed in locations where it is not allowed lawfully.
The white paper is not an invitation to invest, rather it is for information and discussion purposes and can be changed anytime.
Thus, there are some circumstances which the company will not be liable for which include;
🔹 Using services not compatible with the applicable terms.
🔹 Defrauding of the user by third parties.
🔹 Indirect loss or damages of business/profits.
🔹 Mismatch between the buyers needs and services.
🔹 Damages to apps and systems installed by the users.
🔹 Suspension of access to services.
🔹 Security incidents relating to use of internet, concerning alterations, destruction, loss, alteration, unauthorised access to users details on the Internet.
🔹 Genuine information about the company can be found at www.smarts.finance or [email protected].
Useful Links
Website: https://smarts.finance/
Telegram: https://t.me/smartsfinance
Twitter: https://twitter.com/Smarts_finance
Whitepaper: https://smarts.finance/assets/documents/WhitePaper.pdf
Discord: https://discord.com/invite/rertF5a
YouTube: http://www.youtube.com/channel/UCp58Zt6o88nj9jH8tKtvzSw
Medium: https://medium.com/@smartsfinance
Writers Links
Bitcointalk Username: Seasleep
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2768222
Proof of Authentication: https://bitcointalk.org/index.php?topic=5290318.msg55879888#msg55879888