Despite revolutionary changes brought about by Decentralized Borrowing Finance technology in global financial services, users continue to face obstacles, with traditional users often wary of transaction fees and issues of scalability.
Notably, older blockchains like Binance and Ethereum have experienced increasing transaction times over recent years, as congestion on the network and incurred fees impact transaction completion times.
Transaction prioritization typically favors costly ones first, meaning unless you pay a premium, you're likely at the back of the queue. This negates some decentralization benefits, as only affluent users can afford timely transactions despite bypassing intermediaries.
Wouldn't it be more just to employ a DeFi lending platform that offers speedier transactions and reduced costs, effectively tripling user returns? The innovative team has laid the groundwork to actualize this vision.
How is that possible?
Deswap Nestled within an algorithm-driven lending ecosystem built on the Polygon Chain, Deswap provides an accessible, cost-effective, and secure environment that results in a vast, diverse network of covered tokens and robust liquidity. Not to forget, it introduces YAI, a synthetic stablecoin on the Polygon Network.
The additional sidechain operating alongside the Ethereum blockchain significantly boosts performance, enabling up to 80,000 transactions per second.
This is what true innovation looks like, offering gains to users and developers alike. As DeFi services grow more affordable, widespread cryptocurrency adoption edges closer to reality.
How can individuals engage with the product, and what involvement opportunities are available?
Users can participate by supplying loans, borrowing, earning passive income, and minting stablecoins. By holding DAW, they can mint synthetic stablecoins or opt for platform staking.
In simple terms: with an identical investment, if a user earns $5 from AAVE, with DESWAP, their earnings could soar to $15 🚀🚀.
The YAI Stablecoin
To minimize vulnerability to bearish markets, the team devised the YAI stablecoin, anchored to the $1 mark, thanks to existing collateral.
According to the litepaper: 'The Deswap Protocol (DAW) empowers users to mint YAI (YAI), a synthetic stablecoin tethered to $1 USD, by leveraging yTokens from previously submitted collateral. Users can borrow up to 50% of leftover collateral value in their yTokens to mint YAI. The protocol's standard stablecoin, YAI, is synthetically creatable and can be submitted as a governance proposal.'
Deswap’s Roadmap
Progress continues steadily to guarantee project quality. The first part of this year marks the launch of a decentralized banking ecosystem. The remainder of 2021 focuses on rolling out voting features and managing DeFi user financial profiles. In 2022, expect token rewards and a DeFi wallet centered on the Polygon network.
Interested to give it a shot? Join the private presale of Deswap scheduled for July 9th, 2021, on Cafeswap Launchpad to secure your DAW tokens!
