Thanks to DeFi, there are copious of borrowing, lending, and saving platforms powered by the Blockchain. They come in varied forms with transparency and features you cannot find in the mainstream financial system. Today, one can borrow funds in digital assets and use it for whatever needs. You can also lend your tokens and earn interests as well as savings opportunities.
These financial instruments are providing economic freedom and monetary sovereignty without any interference from the powers that be. The most exciting part is the ability of individuals to control their funds when using such platforms.
Of course, the future is going to be impressive and more fulfilling, looking at what is happening with these technologies. Now people can save, lend, and borrow from their Personal Computers and cellphones without leaving their homes.
Introduction To Definer
Definer is a non-custodial digital asset networking utilizing Blockchain technology for savings, lending, borrowing, and asset swap. It eliminates all intermediaries while lessening costs and boosting premiums. According to the team, their mission is to promote financial trust, uniformity, and growth. The platform’s foundation is robust security employing audited Smart Contracts.
Unlike the bank, Definer’s users have access to services at any time of the day and night all year long anywhere in the world, even when it is a public holiday. It comes with so much versatility as you can set your rates, terms, and condition.
The most encouraging part is that it is insured and has a protective fund with all loans collateralized, which guarantees the safety of users’ funds. There are more than 15 assets that are currently available for borrowing, lending, and saving, and they include Bitcoin, Ethereum, Tether, BNB, and others.
Definer is currently web-based, but its mobile application is in beta mode. Sooner than later, the desktop app would be available to the public since it is part of their roadmap. The network has its native utility token, known as FIN, and that is the nucleus of the ecosystem. It is used to vote on the platform, share profits (transaction fees and interest), and proof of premiums.
Definer has prominent entities as partners like Microsoft, Chainlink, Techstars, SNZ, NEX, Spark, Signum Capital, Alphabit, Kyber Network, and Consensus Lab. Trial of Bits and Taka Security are in charge of auditing the platform. It also has an Over The Counter (OTC) service that is quite suitable for institutional demands and bulk purchases.
The network combines centralized and decentralized Crypto features to render services in savings, borrowing, lending, and digital assets swapping.
Borrowing and Lending: As a peer-to-peer marketplace, users are matched to access loans or lend their assets instantly. If you are interested in borrowing or lending, it is a matter of depositing your funds on Definer. Then you request your need so you can get connected to another user with similar terms set out.
It is also possible to borrow against your savings. More so, all loans are fully collateralized.
Savings: Again, you can deposit your assets and earn 6%-12% interest depending on the terms and conditions. Moreover, there are no restrictions on withdrawals; accordingly, you can always have access to your funds at any time. The savings portal is seamless to use and has no lock-up feature.
Join Definer Community
Definer has a strong social medial following on different platforms where they channel information about the projects and updates. It is prudent to join these communities to learn more about what is going on with the network and learn more about its features.
Here are the links to the multiple platforms:
Those of you who are technically inclined can also check out their Github here.