DeFi is taking over the financial industry with YFIDapp
DeFi is not just a buzzword but the very future of decentralized banking. We’ve entered this space with the highly secure and transparent, YFIDapp. We’re proud to announce that our token is set to go live with Uniswap, a well-reputed platform on 10th November. Not to be pushy, but here’s the Uniswap link for YFID!
When you think of ‘banking’, debit/credit cards, cheques, physical offices, loans, and ATMs probably cross your mind. But is finance going to stay the same like it has been for the past decades? Digitization has given banking a pleasant makeover, although it does have the potential to undergo more reformation.
Blockchain and cryptocurrency have been around for a while and the takers for this new age finance are quite a few but still nowhere close to those depending on traditional finance. Have we become so comfortable with traditional finance systems that we are willing to miss out on the impressive advantages that blockchain tech provides?
The newest kid on the block, Decentralized finance (DeFi), is an ecosystem built on blockchain, and definitely a great alternative to the sluggish financial systems of today. The main factor that differentiates DeFi and traditional banking is the fact that DeFi has no bank. Individuals, smart contracts, and crypto funds together make up the ‘bank’ in the DeFi world.
Like all things blockchain, DeFi also bore the brunt of fraudulent individuals, government scrutiny, scam projects, and more. But there is so much scope for improvement and that’s where we come in. YFIDapp is a platform that was built by dedicated individuals who have actually faced hardships in the blockchain space, identified the concerns, and created a safe space for blockchain enthusiasts.
YFIDapp will allow you to enjoy decentralised exchange, lending/borrowing, derivative trading, staking, yield farming, and payments. The nature of DeFi makes it the perfect ecosystem for financial activities. The benefits of decentralized finance that we love the most are:
- DeFi is intermediary-free
Visits to the bank? Annoying queues? No more of that! You have complete power of your own finances and carry out all transactions directly with another individual on the network. The concept of peer-to-peer comes to life with DeFi. The involvement of banks or bank officials ceases to exist. With that comes reduction in fees payable and also the processing time of transactions. In DeFi, smart contracts are the real mediators, making human error an impossible scenario.
- DeFi is non-discriminatory
Getting loan requests rejected is not a rare occurrence in the banking world. Whether it is based on your credit score or financial situation, banks can sometimes be harsh. DeFi, on the other hand, is inclusive and does not take into consideration the financial background of the individual. For one to carry out any transaction on DeFi, all he/she needs is cryptocurrency funds.
- DeFi is transparent and secure
Since DeFi is a permissionless ecosystem, anyone can participate in financial activities. There is complete transparency which helps greatly reduce the existence of fraud or illegal proceedings. Simultaneously, a DeFi platform does not collect personal information from its participants. Therefore, data is protected and anonymity is maintained on YFIDapp.
Our goal is to reach 100X value of the market cap in the next 60 days, we are confident of achieving the same, and your participation and cooperation will accelerate the process! Take control of your own finances with YFIDapp and make impressive earnings.