I am delighted to introduce a unique platform to you – a platform that makes cryptocurrency trading and investing simple, affordable and interoperable. The name of this platform is 123swap and in this article, I cover the most important aspect of the platform – DeFi aggregation.
WHAT IS DEFI?
Decentralized Finance or DeFi for short is a type of financial model that creates inclusive and barrier-free entry for investors. It was popularized by the Bitcoin whitepaper, which talked about creating a Peer-to-Peer (P2P) financial model that is free from intermediary influence.
However, the popularity and adoption of DeFi started with the introduced of decentralized trading platforms for cryptocurrencies. These platforms include Decentralized Exchanges (DEXs) and Automated Market Makers (AMMs).
THE DEFI DILEMMA
The Decentralized Finance (DeFi) financial model succeeded at many things, but failed at some. The model popularized P2P transactions and made it possible for decentralized platforms to take a cue and launch. However, the current DeFi ecosystem is yet to live up to many expectations, such as unifying transactions across multiple blockchain networks.
The DeFi ecosystem is also struggling with some problems it could have solved. For example, some decentralized trading platforms, especially the ones built on the Ethereum blockchain, now charge higher fees. This is contrary to the low fees expected of the platforms.
123SWAP CAN MAKE A DIFFERENCE
The team behind 123swap is both experienced and ready to take the bold step to simply DeFi transactions. Here are some of the reasons why I think that 123swap is equal to the task, as it pertains to simplifying DeFi transactions:
Cross-Border Transactions and Aggregation
Sourcing information or sharing data across blockchain networks could have been an excellent move towards the unification of blockchain-based platforms. That is why 123swap is taking the lead to create outstanding solutions in this relatively new DeFi ecosystem.
Cross-border transactions and data aggregation can now be done via the 123swap DeFi protocol. This is one of the major steps taken by this project to ensure that the DeFi is up and running.
HOW DOES THE DEFI AGGREGATION FUNCTION WORK?
What does it mean when a DeFi protocol is said to be an aggregator, just like the way 123swap is modeled?
The aggregation means that the protocol can source or collate important data from the blockchain networks partnering with it. In the case of 123swap, the focus is on the aggregation or collation of savings deposits, many Decentralized Finance (DeFi) assets and liquidity pools into one platform. The centralization of data can go a long way to help the users to access important information from one platform.
The aggregation function also works by combining the functions of some of the popular trading platforms. These platforms cut across Decentralized Finance (DeFi) pools and Decentralized Exchanges (DEXs).
Examples of the DeFi platforms shortlisted for the aggregation are:
- Dodo
- PancakeSwap
- Mstable
- YFI
- Balancer
- Bancor Protocol
- Curve
- Mooniswap
- Uniswap
CONCLUSION
Decentralizing the DeFi ecosystem for maximum productivity is one of the major focus points of the 123swap project. The platform has displayed mastery of the ecosystem by pinpointing the most important challenges and suggesting feasible solutions for the same.
On that note, I would say that 123swap has a chance at promoting DeFi aggregation and inclusive cryptocurrency investments for the users.
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USEFUL LINKS;
Website : https://123swap.finance/
Whitepaper : https://docs.123swap.finance/123-token-sale/123swap-token-allocation
Twitter : https://twitter.com/123swapfinance
Telegram : https://t.me/my123swap_chat
Linkedin : https://www.linkedin.com/company/123swap/
Reddit : https://www.reddit.com/r/123swap/
Medium : https://medium.com/@123swap
Instagram : https://www.instagram.com/123swapfinance/
AUTHOR’S DETAILS
Bitcointalk Username: Annamike
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2767339;sa=summary
Wallet Address: 0x2f8c635F6472a1BFfbE9797F29326a2cff5B8284