SMARTS FINANCE - 25,000 SMAT REWARD POOL.
Introduction
Cryptocurrency and Blockchain were an ad-hoc solution proposed due to the economic meltdown in 2009 starting with the introduction of bitcoin. Fast forward a decade later, DeFi (Decentralized Finance) emerged and took blockchain to a whole new level.
You would agree with me that traditional financial systems and the services rendered are completely centralized. This centralization gives room for mismanagement, lack of transparency, and corruption.
To mitigate these aforementioned drawbacks in the current financial systems, authority has to be shifted from centralized bodies and vested upon decentralized ones. The process of doing this gives birth to DeFi.
Crypto in general is yet to experience mainstream adoption talk more of throwing DeFi in the midst. DeFi is still a work in progress having so many grey areas yet to be explored. The majority of crypto users are yet to fully comprehend the whole DeFi concept. This article is intended to explain DeFi in its fundamentals as this will give room for a better understanding of the Smarts protocol.
What is DeFi?
DeFi “a short form for decentralized finance” it’s simply a set of financial products controlled by no one. DeFi in its current state is a term administered to protocols that create money markets on the blockchain
Decentralization gives room for interoperability, transparency, and flexibility. This tells you that decentralized economy and the concept behind blockchain technology (cryptography)is a viable tool to drive other economies including service industry, retail economy, and other sectors with peripheral roles and more inter-related economies such as money transfer,lending, borrowing, etc.
What is Smarts?
Smarts is an innovative DeFi platform proposing the use of blockchain technology to provide an autonomous and flexible money market on the ethereum blockchain while utilizing a community-centric approach to reach consensus.
DeFi options as is the case with Smarts, offer these services uniquely by its lenient terms of contract offerings via its Smarts Lending Protocol. The game-changer for Smarts may be the desire to build a platform that is;
Sustainable: our token model, its distribution, and vesting schedule feature logical techniques that should ensure good sustainability of the system. The technological framework is also built on the proving Ethereum blockchain with a wide range of applications.
Adaptive: our platform has the capability to support multiple tokens which can be integrated into our staking protocol.
Community-centric: if blockchain is to challenge traditional finance, it must create a system that belongs to nobody and everybody; hence, holders of SMAT dictates all platform integrations and directions.
Cheap to use: distributed gas cost helps minimize transaction costs with the help of our liquidity pooling function.
Smarts Finance System?
A System Is Smart Only If Its Users Permit It
Smarts Finance is a community-centric and governance system with a novel and open approach to DeFi Services and Products. Holders of SMAT dictates all platform integrations and directions. The core of the system offering revolves around a truly decentralized and secured network.
Smarts Is Trustless And Decentralized
Blockchain permits the need not to trust but verify. Smarts builds on this notion by allowing all deployed contracts to be verified and well-audited. The network contract deployment and token permission function is situated with members with no direct relationship via a multisig functionality.
Smarts Products
Smarts Staking
Do not wait any longer for a positive market up-turn before your holdings become profitable, stake, and earn passively by leveraging the advantage of non-custodial Smarts contract savings.
Liquidity Mining
You are integral to the future of decentralized finance, make crypto assets easily tradable by providing liquidity for a market of your choice, and get double rewards in fees and SMAT for your contribution.
Smarts Lending
Yes, we can formulate features that have maintained the successful bearings of traditional finance. Plug into the era of decentralized lending and obtain loans in the most seamless and frictionless manner.
Why Choose Smarts?
- Distributed gas fees to minimize transaction costs
- Double reward or incentive mechanism
- Unique Staking features
- A lending model that incentivizes both suppliers and borrowers
- A lock-up liquidity mining model with additional vesting, high yield, and sustainable characteristics
SMAT
SMAT is an ERC-20 compliant token which will be utilized as the native/governance token on the Smarts Network. Holders of SMAT (Provided they meet the required threshold and other criteria factored in) will be able to make changes to the governance of the protocol by proposing and voting for proposals.
Also, a staking gateway will be available within the protocol where users can stake their SMAT token and earn staking rewards.
Token Distribution
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