Decentralized finance (DeFi) launched a revolution on top of the Ethereum blockchain, which spread to other blockchain networks.
Users can use DeFi protocols to obtain crypto-backed loans, earn significant interest, and purchase insurance policies.
While these services are easily accessible to some people in the traditional financial world, they were previously inaccessible to others due to a lack of infrastructure or because the services were denied based on specific analysis.
The demand for these services was so high that the Ethereum blockchain has been used to safeguard over $64 billion in DeFi.
Prior to the recent cryptocurrency economy crash, the amount was nearly $90 billion.
DeFi jobs are removing some of the power that centralized financial institutions wield over people, but they are still on their way to allowing people to truly control their own wealth. These programs are currently hampered by a number of issues.
For one thing, the Ethereum blockchain — and other clever contract programs for that matter — are quite transparent, so if something still wants to censor someone, they can trace their activity on the blockchain and cut them off.
Furthermore, transaction fees have risen to the point where smaller stockholders are no longer included in their DeFi ecosystem.
The solution to such issues could be ADD.xyz, a full-stack DeFi aggregator plugging numerous products and software into one single platform. Let’s dig somewhat deeper.
What is ADD.xyz?
ADD.xyz is, as stated earlier, a DeFi platform plugging many products into a single program that focuses on consumer experience, design, and solitude. By aggregating multiple DeFi protocols into a single program, it permits users to save on payment, because they don’t have to move funds regularly.
This means ADD.xyz makes DeFi more accessible and powerful both for people and enterprises. Its focus on privacy and anonymity essentially means users remain safe both on and off-chain whilst lending, borrowing, trading derivatives, and even if purchasing insurance.
It has also signed partnerships with significant cryptocurrency exchanges including Poloniex, Changelly, and 1Inch to guarantee liquidity.
ADD.xyz’s flagship product is the”Lend & Earn” platform, which aggregates multiple decentralized fund protocols to allow users for the very best rates without having to search through numerous platforms. Users’ Programs can then be applied on protocols such as Compound and dYdX, and accessed through a easy-to-use interface.
Third parties can also incorporate their protocols into the ADD.xyz protocol to increase their functionality.
While the project’s flagship product is about lending, much more is being developed by the ADD.xyz team to make sure users get as much value as you can. One of its upcoming products will allow users to get their DeFi dashboard on the move through a mobile program for both iOS and Android, for instance.
The ADD.xyz team can also be adding both BL3ND3R and Tornado.Cash to its platform to allow users to protect their identity online and get DeFi protocols without even being identified. Other jobs being incorporated include decentralized exchange and decentralized insurance programs.
Later on, users will even have the ability to pay at countless shops with the gains they have gotten from DeFi lending as a result of this ADD.xyz debit card. While not a lot of information was revealed concerning it, it will probably compete with other crypto debit cards in the marketplace offering its users distinct benefits.
The ADD Token
At the Center of the stage’s ecosystem is your ADD token, which can be staked by users to make an Excess piece of earnings through property fund. $ADD token holders can vote on governance proposals and help the project grow in time.
On top of that, staking the token enables them to be rewarded for just being a part of the project’s governance structure. Their limited distribution may indicate that if demand develops , their cost will go up. $ADD staking rewards will be computed based on the amount of tokens staked and how long they have been staked.
You can learn more about the project on its site.