Paving the way for DeFi mass adoption

Published by bnr425323411 13 Aug

Paving the way for DeFi mass adoption

Decentralized finance (DeFi) unlocks a financial system that’s open to everyone and minimizes one’s need to trust and rely on central authorities. With DeFi you have access to financial services without know your customer (KYC) or anyone’s permission. With a single click of a button, you can: borrow funds, take out loans, and deposit funds into a savings account.

With the use of blockchain technology, human middlemen, paperwork “all intermediaries” are replaced with smart contracts, the terms built into the contract have to be obliged — no human can (typically) alter that.

Almost all DeFi applications are built on the Ethereum blockchain, the world’s most popular programmable blockchain. DeFi applications continue to perpetuate the success of Ethereum, but they are limited by the network slow speeds, limited scalability, coupled with the fact that the network is not expanding as fast as it should. As the popularity of DeFi grows, so does on-chain activity on Ethereum, which slows down the processing of Ethereum transactions.

Despite the fact that Ethereum 2.0 could improve the scalability of Ethereum, the update process is not going to happen overnight. EOSIO is an open-source blockchain protocol designed for fast transaction speed and flexible utility. The EOSIO platform was developed by the private company block.one and released as open-source software in 2018. The EOS.IO blockchain is the best known EOSIO protocol.

EOSIO is able to facilitate a huge number of transactions per second, feeless, making it quick and smooth for running DeFi platforms. It’s certainly is the only public decentralized blockchain most capable of supporting mainstream adoption, yet DeFi on EOS is still highly underrated compared to other blockchains.

DeFi platforms deployed on EOS can provide anyone in the world access to financial services. Anyone with access to a smartphone and an internet connection is afforded investing, saving, lending, and borrowing services.

One DeFi platform that’s aiming to provide its users access to a seamless DeFi experience is the Vigor Protocol.

Utilizing the high performance of the EOS blockchain, the Vigor DAC is building a DeFi platform for current and future demand. Unlike many DeFi platforms that have exorbitant return rates that are unsustainable, the Vigor Protocol system is stress-tested to find rates based on actual usage of the platform, system solvency, it’s a function of supply and demand.

In Vigor Protocol, the market will find the rate that it’s comfortable with. Rates are not dictated by whales but are discovered by users making and taking loans.

With the Vigor Protocol, you can borrow funds, take out loans, and deposit funds into a lending or savings pool with a single click of a button.

One metric the Vigor platform uses to monitor user’s usage and reward active users of the platform is the vigor reputation system.

The Vigor Protocol allows users to build a reputation score and achieve rate discounts. Users are ranked against all other users of the Vigor platform on a Percentile ranking from 0–100. Reputation Score is calculated based on a 3-month rolling average.

The VIGOR Protocol offers the following features:

While many DeFi platforms continue to market exorbitant return rates that are unsustainable, the Vigor Protocol is more focused on the user experience, paving the way for mass adoption.

If you are looking for a DeFi platform that demonstrates value and utility, try out the Vigor Protocol.

Website: https://vigor.ai/

Twitter: https://twitter.com/vigorprotocol

Telegram: https://t.me/vigorprotocol

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