What is DeFi?
Decentralized Finance or ‘DeFi’ refers to a revolutionary new application of blockchain technology to build open source and decentralized financial instruments and applications. It aims to build decentralized apps of a truly transparent and trustless nature, enabling the average person to take advantage of the sophisticated investment tools which uptil now were only available to institutional investors.
DeFi is poised to smash the hegemony of Wall Street millionaires and level the playing field, making entry to advanced financial instruments such as leverages, futures, DEX, tokenization platforms, derivatives and predictions markets available to the average Joe. The era of gatekeepers to the hallowed halls of high stakes investments is coming to an end!
Why is the Ardor Platform perfect for DeFi?
Time Tested: Ardor is a time tested Proof of Stake blockchain platform with the most efficient system of running lightweight smart contracts (Smart Contracts 2.0).
Scalable and Efficient: Unlike Ethereum, it does not have a bloat problem, it is easily scalable and the fees are miniscule as compared to the prohibitive fees in gas that Ethereum levies.
Unlike many other contract development frameworks, lightweight contracts are not executed by every node on the blockchain, instead node operators have to configure their node to run contracts by registering the contract runner addon. The contract runner monitors every new block for trigger transactions. When found it triggers the respective contract after loading it from the blockchain. The contract runner also supports contracts which execute on every block and provides APIs for triggering contracts directly or using a transaction voucher.
Decentralized Finance apps on the Ardor Platform are therefore more efficient and robust when compared to the current ERC20 projects with fancy whitepapers and plans of grandeur that are being hyped on Ethereum.
Features of DeFi (DeadFish) Token On Ignis:
- Deflationary DeFi: There is a finite supply of One Trillion DeFi tokens, which is a perfect mix of the deflationary limited supply and enough for all the 7 billion people on the planet. DeFi (DeadFish) lives by the US Marine axiom of ‘No man (or woman or non-binary person) left behind’.
- Affordable: The price is low enough for every individual to participate, across economic and geographic barriers. Even the citizens of Venezuela and Zimbabwe with their worthless currencies can buy some.
- No barriers to entry: $Defi is easy to obtain for everyone. A user doesn’t have to sign up for exchanges and submit KYC documents. $Defi can easily be obtained for free by triggering a twitter bot — type #DefiMagic followed by your Ardor address and tweet it. The bot will send tokens automatically to your wallet. If you don’t use Twitter, you can still become a $Defi millionaire for as cheap as a few $Ignis on the Ardor DEX.
- Legacy: The Ardor Platform has several well respected and functional projects built on top of it. The Austrian government has collaborated with Jelurida on more than one application of blockchain tech. The DeFi project will benefit tremendously from the goodwill and proven track record of Ardor.
The Future of DeFi Token on IGNIS:
- DeFi on IGNIS plans to dismantle the hegemony of Wall Street millionaires by outdoing them on the complexity and ‘clear as mud’ opaqueness of their financial tools, with the simplicity and transparency that only blockchain tech provides.
- Deadfish is a revolutionary new concept in decentralized finance wherein DeFi will be as rigid as a frozen deadfish and yet be as fluid and malleable as whatever the end user of the application wants it to be.
- DeFi is the perfect financial tool for a world that is slowly progressing towards a PostModern utopia that transcends the binary of gender, the binary of politics (viz a viz liberalism vs conservatism); a world where 2 + 2 is not necessarily 4. DeFi considers objective reality to be a social construct and respects other ways of making financial products that do not conform to the imperialist methods of grabbing native wealth.
- DeadFish Project will use the native DeFi token on IGNIS blockchain to validate all financial agreements and it will be the currency of use within the sophisticated DeAD instruments within the ecosystem.
- DeFi has a diverse team of gender queer, non-binary, POC experts who have many years of experience in DEAD tokenomics.
- The project is in talks with leading exchanges such as Coinbase, Binance and Bittrex on Twitter, in an attempt to incorporate DeFi trading pairs.
- DeFi plans to bridge other ERC20 tokens and help dying projects by migrating them to DeadFish and turning their inconclusive future to absolute certitude.
- DeFi will build a platform to swap all your ERC20 tokens in exchange for DeFi tokens at a pre-agreed exchange rate that will be revealed at the time of swap. Lend your DeFi token (and get a variable rate that ranges from 0–99%) to then receive a stable token. Then convert the stable token to fiat. Use that fiat money to buy more ERC20 tokens.
Head over to the Ardor Slack Channel to see how you can recieve your free DeFi tokens before the project’s official launch. We invite you to be part of the community!