Defifarms: An Automated Market-Making (AMM) Decentralized Exchange!

Introduction

Today, Blockchain technology and cryptocurrency are the most fascinating financial instruments to braise financial technology. Just recently, in the present Bull Run the market capitalization of the entire cryptocurrency industry peaked around 2.5 trillion dollars, an amount that any financial investor cannot get past.?So what's the drawback that has inhibited the full adoption of cryptocurrency as a standard means of payment? It is its instability. Fiat currencies, despite prone to be affected by inflation are relatively stable when compared to their volatile cryptocurrency counterpart; and the factor of instability among others such as security has inhibited the wide spread adoption of cryptocurrency. The Centralize finance industry were the financial technical giants of the cryptocurrency space, until Ethereum launched the first decentralized finance product. Decentralized finance (Defi) didn't require customers to submit their bio-data details before they sign up; Details such as a valid means of identification or utility bill that is at least 6 months old to list a few. The decentralized finance just required their clients to connect their wallet through Metamask or Trustwallet to list a few; It was a sort of plug and play System. But the decentralized finance has its Achilles heel. While the approach welcomed a lot of creative and talented programmers to flex their creative muscles on the Decentralized exchange (DEX) and Defi systems, it created a saturated and complex ecosystems where investors and Defi users found it difficult to find a particular Defi product that suits their preference. They needed to search-and- search until their desired products were obtained. Defifarms have noticed these lapses in the cryptocurrency space and the decentralized finance ecosystem and have stepped in to rectify the situation.?

Defifarms Review

Defifarms is a project that originates from London, United Kingdom. It is located in 150 Aldersgate, London. The core team behind the Defifarm project has created a transactional solution that has the propensity of curbing the volatility of cryptocurrency digital assets. The Defifarms platform is easy to access and does not bank on any single point of failure.?Defifarm is powered by the Binance smart chain. The Binance smart chain network was selected by the core team because of its high transactional speed and cheap transaction fees as compared to its boisterous Ethereum Network Counterpart.?Defifarms proposes to be a trading, investment and staking engine that will integrate the entire Defi sphere and Blockchain future.

Here is a short Video presentation below to get yourself acquainted with the Defifarms project:

How Defifarms Works

To tackle the problem of Defi cryptocurrency projects being littered all over the place, without a single cord binding them, the Defifarms core team has created Defifarms finance. It proposes to be an all-inclusive platform that will employ the prowess of the BSC to interconnect and Bridge all other prominent Defi projects in the Defi space; harmonizing them in gigantic single unit. This makes sense as an investor can access Defifarms finance and get access to bouquet of Defi projects.

Defifarms Ecosystem

Like, previously iterated, Defifarms serves as a platform that interconnects other DEFI- capable blockchain projects. This allows users to benefit from an expanded decentralized finance protocol without putting into consideration pre –existing community loyalties. Every party involved has the liberty of staking, trading and farming with the aim of earning more coins. Here are the seven pillars of the Defifarms Ecosystem.

DefiFarms wallet

Defifarms wallet was introduced for the sole aim of facilitating the ease-of-use by the clients of Automated Market-Maker protocol. The DefiFarms wallet is a cross chain wallet, one that equips the Defifarms wallet users with the ability to accessing different tokens across blockchains allowing a seamless ease of transactions. The wallet fosters a flawless experience with the present Defi worlds and accelerates a dependable and effortless user experience. The Prestige wallet will be at available on Google play store, IOS world and web versions.

Defifarms NFTS

Non-fungible tokens are becoming the new frontiers in the cryptocurrency industry. Artists, Celebrities, Comic memes, Artworks to mention a few can now be tokenized and listed in an exchange market to have financial value. Defifarms finance will present an elaborate and comprehensive NFT exchange that will facilitate the ease of trading non-fungible tokens and the production of new DEFIFARMS NFTS.

Earning With Defifarms

We will be looking at three methods below:

? First earning method: Yield farming

With yield farming, an asset holder that can stake and lend crypto assets to other interested investors and generate more profit in the end. Here a user just needs to provide liquidity to the pool and be rewarded for doing so. It is a trending way to generate passive income. Defifarms will be adopting this approach and will be doing so with its native tokens, DEFIY and DFTC tokens . The Defifarms project locks up the tokens liquidity providers provide for a stipulated amount of time. When profits are distributed through the smart contract efficient management of the liquidity pool; The liquidity providers are rewarded. The interest can be fixed or varied when investing in the Defi market. This would be powered by relying on the integrity of the BSC network.

? Second earning method: Staking

Defifarms finance protocol incorporates the recognized and accepted staking method popular in the cryptocurrency industry. It is a proof of stake algorithm which has been invented to reduce the circulating supply of tokens, maintaining a healthy network; thus increasing the price of the digital asset. Here, stakeholders within the network will be compensated for their loyalty in proportion to the amount of tokens they lock away from the circulating supply of the Defifarms cryptocurrency asset.

? Third earning method: Defifarms factory

Defifarms factory is another way to earn great rewards in the Defifarms ecosystem. Here a farming pool is setup, one that allows DEFIY holders to stake their DEFIY tokens to reap other tokens available in the farm. Two Defifactories will be set up. They would be made up of BUSD and BNB. Four percent derived from all deposit fees would be added to these pools to bolster the integrity of the farm. They would be used as rewards for the Defifarms staking.

Referral program

Here, active users can recruit new users to the farm and earn 1% percent of their earnings forever. A unique referral link will be issued to every user and the users can use it to recruit new users to his or her satisfaction. It is an on-chain referral program. This referral technique has a ripple effect or viral effect as each user continues to benefit from the third, fourth, fifth generations etc of their down lines. The referral payments will be carefully managed by the Defifarms platform and the payment will be in valuable token forms.

Advantages of the DEFIFARMS Platform

?First Advantage: Dex Trading

Defifarms is built on a decentralized finance platform which gives it some unique advantages. Here, there is no need for know your customer verification or e-mail verification. Just connect your wallet and start trading. These have given birth to some natural benefits. We would look at four below.

? Pseudo-anonymity

As explained above, there is no need to fill out any comprehensive form or provide a valid means of identification to join the pool or trading platform.

? Automatic

Once there is enough liquidity, transactions seem seamless and instant; the Dex platform provides such advantages. Transactions happens on the fly, being automatic.

? Low-cost

Since the staff employed here are fewer than that of centralized exchanges, the transaction fees are relatively lower. Again Dex exchanges go into fewer partnerships than Cex exchanges. This is a clear advantage of the Defifarms platform, reduced trading and transfer fees.

? Non-custodial

Here, there is also no need for any third-party intervention. Every transaction happens between the Defimarms administrators and their esteemed clients in real time.

Advantage Two: Merchant adoption

Many merchants love cryptocurrency but the challenge they have is in the volatility of the crypto assets. This has inhibited the wide spread adoption of cryptocurrency. Defifarms cleverly allows merchants to enjoy stability at a relatively low cost and also to maintain profit with the products available to the Defifarms system.

Defifarms Token Sale and investor White listing

Right now, the company has started their sales today the July 10th and are currently white listing their private investors. The firm has whitelisted more than 1000 investors in less than 24 hours. This shows the ingeniousness the Defifarms core team brings to the table. The team has a projection that it would white list up to 5000 private investors. Here is a detailed information about the token sales and white listing below. The team also stated that it will refund the investors their money if 50% of the Hard market capitalization is reached.

To get Whitelisted Click here: White listing Link White listing Link White listing Link

Defifarms Tokeonomics

Below is a pictorial representation of the Defifarms tokenomics. You can look at it and get yourself acquainted with the Defifarms project.If you need any further clarification, please don't hesitate you get in touch the community administrators through the telegram link below.

Defifarms Roadmap

Defifarms road map clearly explains how the company plans to run their developmental activities in a timely manner. You kindly get acquainted with them.

Defifarms' Team

One of the factors that gave me a great deal of confidence in the Defifarms project was the outstanding team that has been put up. Here a team of world class professionals have come together to make a revolution in the Defi space. The team comprises of professionals from every walks of life. The chief executive officer and co-founder is Cesar Deandres. He is spearheading the project in style. You can know more about the team members by connecting to them by their Linkedin profile names.

Conclusion and Personal preference

Cryptocurrency is one of the most outstanding innovations to braise mankind in this 21st century. It has caused a ripple effect in the entire globe and has united traders and investors from every Race and creed. Despite this astonishing feat, it is yet to achieve mainstream adoption chiefly because of its price instability or volatility. Defifarms has come up with a transactional solution that would guarantee price stability; ushering in financial institutions that have been sitting on the fence and also giving confidence to merchants to employ the digital assets, Again, the Defi projects scattered all over the internet would have a single point of meeting, a sort of hub through Defifarms. This is a project that would bring sanity and integrity to the cryptocurrency industry. Do get involved today!

Some useful Links:

TWITTER

TELEGRAM

WEBSITE

DEX AND STAKING PLATFORM

LINKEDIN

MEDIUM

Image sources:

Yield farm: Coinmod.com

Staking: NEEBANK

Defifarms: techtodaynewspaper.com

Referrals: score.org

Author's Information

Mr. David Okocha