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Next Step in Revolutionising Financial Sector

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The launch of the Nimbus DeFi platform, as well as their native token NBU, is just one milestone in an extensive roadmap of innovative implementations towards true decentralization.

There’s no doubt that the traditional financial system is extremely elaborate and offers various investment opportunities that many individuals and companies managed to gain a return from. But these opportunities aren’t available to everyone, and the system has its limitations.

This old-fashioned financial system means you need to trust intermediaries with your resources and let them invest in ways that can sometimes prove to be too risky. On top of that, it’s also exposed and quite fragile when it comes to fraud attempts and human error. Not exactly the ideal way to improve your finances.

Let’s take a clear example. Suppose you opt for a deposit because you think it’s a way to keep your funds safe and gain a small but steady return. In practice, that doesn’t really happen; interest rates barely make a difference because of the increasing level of lifestyle inflation. If the inflation is too high for the return to keep up, you will be losing money, and your purchasing power will decrease.

The fact is most truly profitable investment opportunities aren’t available for everyone. For example, IPOs can be a good investment, but you will find that brokerage firms have quite exigent requirements from potential investors. However you look at it, common people don’t have access to instruments that can truly help them receive a significant return in the traditional financial system.

That’s why DeFi was created as an alternative available for everyone and a way of returning control to the user. Decentralized finance means losing the middle man and empowering every user by making them the central part of the decisional process when it comes to how their assets should be deployed. Centralization was a serious problem, and DeFi got rid of all the issues connected to it. It may sound too good to be true, so let’s take a closer look.

What Exactly Is Decentralized Finance?

To understand that, let’s think of what the traditional financial system offers. You get deposits, loans, trading and investment opportunities, a wide array of products and services, and, at the same time, various limits and negative aspects from the user’s perspective.

Since that wasn’t an ideal situation for the common user, decentralized finance was created as a much-needed alternative. What exactly does it mean? It means reinventing the traditional mechanisms and opening up the financial system to anyone who has an internet connection and a little bit of cash. It means eliminating external influences by using automated algorithms, called smart contracts, to operate the system and give users the possibility to be actively involved in every significant aspect. It also means you can do much more with your money than just keep it in your wallet.

The essential advantage is that you are no longer a passive user but are actually in charge; your vote decides how the DeFi solutions are used and how every investment you make on the platform is appreciated in the diverse pools. And the transparency we mentioned above also means you don’t have to worry about hidden or undisclosed fees.

Meet Nimbus – the Next Step for DeFi

It’s true that DeFi is still a growing concept, and there are certain aspects that are still evolving, which is why we don’t see mass usage at this point. But progress has definitely been made, and Nimbus is one of the best pieces of proof in this respect. So, let’s see what makes Nimbus a promising step forward and a great option.

Nimbus is an innovative platform that strives to leverage the best practices of traditional financing and combines it with the benefits of DeFi. Their approach is based on real-world use cases, making Nimbus’s present and future offerings extremely sustainable in the longer run. The launch of the Nimbus DeFi platform as well as their native token NBU, is just one milestone in an extensive roadmap of innovative implementations towards true decentralization.

The secret recipe uses a holistic approach and combines the positive aspects of the traditional system with the possibilities that blockchain technology opens up. All that is possible due to the extended experience of the team.

As a DAO-governed ecosystem, it’s the users that handle everything, and every decision is made based on the general consensus after voting. As for the way those decisions are implemented, that entire process is automated and secured; the smart contract audit performed by one of the leading auditors, Zokyo, stands as proof.

How Will it Work?

The Nimbus ecosystem is preparing new opportunities for its users. To understand how Nimbus will piece by piece make DeFi realistic and sustainable, let us dive deeper into each of their future offerings- the dApps:

  • The Nimbus IPO hub dApp, giving users a chance to participate in IPOs using liquidity pools, regardless of the amount of crypto they have. After studying the IPOs, the participants get to vote. The return will be calculated according to each user’s participation, and they will receive it directly, without any fees. This is a genuine innovation and an unprecedented opportunity opening up for all users. To strengthen users’ trust, Nimbus is going through in-depth audits and taking all the necessary steps to receive all the licenses that prove the solutions they provide work smoothly.
  • The Nimbus Crowdfunding dApp is the tool participants can use to become part of start-up financing. The liquidity pool mechanics will play their part in this case as well, optimizing the risks and profits and making crowdfunding participation available to any user, without any discrimination or limits. The entire process is subject to sophisticated due diligence evaluation processes, and smart contracts ensure that funds are correctly and automatically distributed. The accountability is undeniable due to the usage of smart contracts.
  • The Crypto Arbitrage-Trading dApp, the upgraded version of the centralized arbitrage and trading tool that has already gained users’ trust for a year now.
  • The P2P Lending dApp, organically including traditional lending mechanics into DeFi. What Nimbus wants to achieve is to make pool-to-peer loans a common practice. Risk mitigation for lenders will be granted by collaterals or by the use of KYC, Biometrics, and Risk Profile assessment. Users will also benefit from multiple lending and pay-back options.

The best part is that you will be able to access all these dApps with one token- NBU, which will eventually give you 10 opportunities to multiply your funds. This is just the first step in the long-term strategy Nimbus has created. The goal is to evolve into a one-stop-shop, bridging digital assets to investment products for global users and creating unprecedented crypto opportunities.

The Nimbus platform and their native token, NBU, went live not too long ago, and we feel ever close to an improved, realistic, and matured form of DeFi. The launch of Nimbus and its native token has opened a gateway to help a wide array of participants benefit from the technology and the possibilities created.

next Altcoin News, Cryptocurrency news, FinTech News, News

Having obtained a diploma in Intercultural Communication, Julia continued her studies taking a Master’s degree in Economics and Management. Becoming captured by innovative technologies, Julia turned passionate about exploring emerging techs believing in their ability to transform all spheres of our life.



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Early CryptoPunk Digital Collectible Sells for $762K in Ether

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Some rudimentary pixel art just sold for 605 ETH, or $761,889 at purchase.

FlamingoDAO, a decentralized autonomous organization (DAO) for investing in digital collectibles, is behind Saturday’s eye-popping CryptoPunk sale. Only nine such “Aliens” exist in the CryptoPunk universe, which pioneered non-fungible tokens (NFTs) in 2017 and are the “Holy Grail” for an emerging class of Ethereum-based art collectors.

FlamingoDAO community representative Priyanka Desai told CoinDesk it was by far the collective’s most expensive piece to date.

“I showed my mom and she was like, ‘What???’” Desai said in a phone interview.

Flamingo is a fund with roughly 40 members and 4,800 ETH in pooled capital, Desai said. It has “hundreds” of NFTs in its growing collection including rare Autoglyphs, NBA Top Shot cards and land plots in various metaverses.

Flamingo’s decision to act on this rare opportunity “was whipped together within 25 minutes,” mostly via Discord, Desai said.

“It’s understandable for folks to be skeptical about NFTs, but in our view, NFTs are the future of not just digital art, but all digital property,” FlamingoDAO said in a statement. “It’s the tip of a very large spear.”

A prominent decentralized finance (DeFi) personality, @0x_b1, was one of the counterbidders who lost out on CryptoPunk 2890. In a tweet, @0x_b1 said they had valued the CryptoPunk at roughly $1 million.

The CryptoPunk in question last sold in July 2017 for 8 ETH, or $2,127 at the time. That represents a 75x return on investment in ETH terms (and even greater in USD).

“People see it as a collectible that is pretty significant in the history of NFTs,” said Desai.

Options for realizing a return on the investment are still to be determined by DAO members, Desai said. Aside from future appreciation or its possible financialization, “There’s also this notion of Flamingo wanting to build galleries in different metaverses for putting this and other pieces on display,” she said.



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Valkyrie Digital Assets Files for Bitcoin ETF

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Valkyrie Digital Assets filed an application on Friday for a bitcoin exchange-traded fund (ETF), becoming the second company to do so in a month.

According to Dallas-registered Valkyrie Digital Assets, the Valkyrie Bitcoin Trust would be listed on the New York Stock Exchange and Coinbase Custody Trust Company, LLC would serve as the custodian for the proposed ETF.

Leah Wald, CEO of Valkyrie Digital Assets, told CoinDesk, “Our executive team has previously launched multiple ETFs, publicly traded funds, and ETPs, including bitcoin funds.”

Wald explains the team behind the ETF includes, “Steven McClurg and John Key who have collectively worked on over 100 esoteric and novel deals that have passed regulatory scrutiny.”

While an ETF is seen as advantageous because it trades on the stock market in much the same way as shares in popular companies such as Apple and Microsoft, over the years the U.S. Securities and Exchange Commission has rejected bitcoin ETF proposals due to concerns about market volatility and industry manipulation. 

Still, there’ve been signs the SEC is warming to the idea. In October 2020, then-Chairman Jay Clayton, who many saw as lukewarm toward crypto, said the agency was still open to considering ETF proposals.

Now, with a new administration causing a changing of the guard at the SEC, it is widely hoped by crypto advocates that such an ETF will be approved in 2021. Clayton stepped down officially last month and was replaced by Gary Gensler, who is widely seen as being more pro-crypto than is his predecessor.

Also adding to optimism is this month’s departure of Dalia Blass, the director of the SEC’s division of investment management. Blass was the author of a 2018 letter within the SEC expressing concerns that the bitcoin market was not large enough or liquid enough to be ready for an exchange-traded product.



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Another Pro-Crypto Appointment in the Biden Administration?

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Reports are that Chris Brummer – author of a volume on crypto assets and frequent speaker on digital currencies – will chair the CFTC.

This episode is sponsored by Nexo.io.

On this edition of the Weekly Recap, NLW argues that while bitcoin’s price was the short-term story of the week, the medium-term story was all about the transition of power in the U.S. to the new Biden Administration. In it, he discusses what the appointments (reported or confirmed) of Janet Yellen, Gary Gensler, Michael Barr and Chris Brummer suggest about the future of crypto policy.

Image credit: Chip Somodevilla/Getty Images News



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