MassDeFi drives innovation in DeFi to drive mass adoption
DUBAI, UAE / ACCESSWIRE / July 2, 2021 / DeFi had grown significantly from $ 700 million in 2020 to $ 67 billion in TVL in 2021. Yields as high as 2000% have sparked investor interest. However, when you take such a big leap in growth, it didn’t sync with adoption. So when the rhetoric revolves around the adoption of DeFi globally, retail plays a key role in that regard, but there is room for an upgrade.
MassDeFi, a decentralized lending and borrowing protocol, was put in place to provide this upgrade that would lead to the retail revolution through inclusiveness and efficiency.
How does Mass DeFi propose to drive mass adoption of DeFi?
When you talk about adoption, it can happen when two groups in the financial ecosystem are happy: investors and consumers. MassDeFi has launched innovative DeFi products that simplify not only payments, but also investments. The ecosystem has built automated smart contracts to increase returns for investors. Likewise, it also took into account the interest of consumers / borrowers by allowing the use of crypto in centralized finance. For the first time, over 100 million users who simply held cryptoassets for commercial purposes can use them in other ways in DeFi.
These populations can bring their crypto to DeFi for a massive retail revolution driving adoption. All of these would be powered by MassDeFi through their partnership with NEO banks and payment systems accepted in 200 countries. These benefits would be enough to encourage not only 100 million crypto users, but even numbers beyond to enter the crypto space for an experience equal or sometimes better than traditional financial systems.
You can just understand the impact of a massive retail revolution when you can issue a credit card by pledging your crypto and use the credit card for payment at a point of sale or commerce store. electronic. The advantage, however, over the traditional mortgage or credit card system, is that you don’t lose control over your assets. So at any time you can use your assets if the market is bullish to pay off your loans and come away with profits. Such leverage does not exist in a traditional financial market.
Rishabh Gupta, CEO of MassDefi, thinks: “Blockchain technology is not an alternative. We should aim to use this fast growing technology and build the two most important characteristics of any system – Efficiency and Inclusiveness. We built Mass Defi with a vision to “Define Payments” and drive adoption of a decentralized financial ecosystem. To this end, we have partnered with the Neo network of banks and merchants in different geographies to bring retail utility and bridge the gap between traditional assets and crypto assets.With a yield optimizing protocol for lenders, we are also targeting the consumer loan market and provide a solution for a user where they can use their assets to purchase services actual public such as paying an electric bill, making purchases, etc. ownership of the asset. “
However, when you plan to bring the next billion users into the DeFi space, the ecosystem should provide the same level of skill as a centralized ecosystem. Faster transactions and low fees are some of the advantages of a centralized financial system.
MassDeFi has strived to create the same effect for traders and investors by moving their ecosystem to BSC or Binance Smart Chain. The benefit of moving the operation to layer two will be lower costs and faster adoption. With such benefits, people wouldn’t refrain from doing micro-transactions, and the use of crypto credit cards could become widespread even to buy a $ 10 candy at the store.
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SOURCE: Mass Challenge
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