DRK- The Epicenter of the DeFi Ecosystem

4 min readOct 13, 2020

The world of cryptocurrencies is expanding at an unabating rate. What started with a mere blockchain technology known as Bitcoin in 2008, has evolved into a whole industry of its own. Many newer cryptocurrencies make their way into the crypto-markets with each passing day, and newer blockchain technologies have emerged on to the realm of crypto scenes in order to support the acceptance and application of the cryptocurrencies at a wider scale. Now a days Decentralized Finance (DeFi) system is very much popular. Decentralized Finance is trying to advance the principles of self-sufficiency as it is aiming to create a financial system that is open to everyone, and does not ask its users to place trust in it. This “trustless” functionality of DeFi is its main aspect. It allows everyone to take the charge of their assets and investments, and have direct say as to what needs to be done with it.

What is DeFi?

For the past few months, one domain that is of Decentralized Finance is very hot in the cryptocurrency space, and all eyes are focused towards the development of a DeFi product that can decentralize the digital economic system is its true sense. Decentralized Finance, in its simple sense, is basically the merger of traditional banking services with decentralized technologies such as cryptocurrencies and Decentralized Applications . In more technical sense, it refers to the amalgamation of all the decentralized products and services like digital assets, smart contracts, protocols, and applications.

DRK is a decentralized platform for the existing financial sectors of the Draken Group’s digital banking system. The goal of DRK is to gather all the information stored in a decentralized authentic ledger and transform payment processes and financial procedures. As a result, payment would become cheaper, more convenient, and more secure with a host of automation capabilities.

Platform Structure

The Core Layer

The Extension Layer

The Application Layer

DRK Chain

Explorer: DRKchain Explorer is a tool for inspecting and analyzing the DRK blockchains. Blockchain explorer for DRK Networks.

Staking: In staking everyone can stake his token.

Ecosystem

DRK DEX: One of the focuses of the DeFi space these days is to build exchanges where users can buy and sell their cryptocurrencies easily, without the need of any central platform. DRK DEX will link buyers with the sellers, and the interesting part which will benefit both parties is the fact that due to the removal of the middle party, both parties will not have to pay any fees, like they did in centralized economic systems. Decentralized exchanges are called DEX for short.

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Token Information:

DRK Decentralized Exchange Token

Token name: Draken Dex Crosschain
Symbol: DRD
Total supply: 200,000,000 (two hundred million)
Contract: explorer.draken.tech/tokens/0x366a242997c062f027e529514226c157e1e7f2d7

DRD Token represents the DRK DEX at www.draken.exchange.

DrakenX Token

Token name: DrakenX
Symbol: DRX
Total supply: 100,000,000,000 (a hundred billion)
Contract: explorer.draken.tech/tokens/0x0091781d02da4a883fa6a47a6d3c007cbfcf1107

DRX Token represents the DrakenX Platform at www.drakenx.io.

Advantages of DeFi

DeFi has been the talk of town for the amazing advantages it can add to the current economic system. More decentralization will mean a user will enjoy greater autonomy. The accessibility of funds and trade ability between users will not be dependent on any third party. Above of all, decentralized economic facilities will bring a greater amount of transparency as compared to centralized authorities.

Everything is online and digital
Border less
Everyone is accepted
Open-source code

Conclusion

In 2020 we’ve seen a big boom in DeFi coins. These platforms use Decentralized Finance to find lenders and borrowers and connect them to each other. The main focus of DRK Chain is security, fast transaction efficiency and many of the latest decentralized technologies in the decentralized finance sector to create an all-in-one platform in the Draken Group system and the global financial industry. The platform will be very much popular and secured to use.