Telefy: The Leading Decentralized Finance Platform to Offer Credit Scores for Crypto Wallets
Decentralized Finance (DeFi) has emerged as a better alternative to the centralized financial system. It has disempowered gatekeepers and middlemen by enabling peer-to-peer financial exchanges.
DeFi is replacing exchanges, banks, and insurers for services they offer. Regular users can now manage works done by banks and insurers to replace those old institutions. However, DeFi is not perfect, especially when it comes to assessing the credit worthiness of users. Many users end up paying higher interest rates and it causes loss!
Most decentralized finance platforms use Lending Pools to offer loans. Borrowers either pay a 20% flat interest rate or higher depending on their condition. Besides, most DeFis either offer Decentralized Exchange, Lending Pool, NFTs, or the Launchpad. There is no single platform to get all those solutions!
Telefy has emerged as a one-stop solution for the discussed issues. It is going to offer services such as DEX, LaunchPad, Lending Pool, NFT, and more. Continue reading to learn more about Telefy’s features, services, and the TELE Token.
What is Telefy?
Telefy is a platform designed to allocate a trustless Tele score (credit score) to every crypto wallet. This platform determines the credit worthiness of a crypto user to promulgate the right interest rate for the user.
The amount of tokens users hold in their wallets and their previous transactions are assessed to determine their Tele-score. Once the score is determined, users can pay the interest accordingly.
Telefy publishes the Tele-score as a microservice and any user can choose this service. It will help many decentralized finance platforms offering lending solutions. Therefore, Telefy will not only help borrowers but also lenders looking for credible borrowers.
Telefy features
The following features make Telefy a unique platform for the services it is offering:
Tele Swap
It is a multi-chain protocol that will enable crypto users to add liquidity through Automated Market Maker. Users can use this protocol to swap their coins seamlessly. Users can use this protocol to move between chains freely. It will reduce the fee and users will swap between chains without any trouble.
Tele Lend
Telefy is introducing an automated lending protocol that users can use to borrow or lend tokens using their Tele Score. This multi-chain protocol will make the exchange between the lender and borrower pretty easy. It is going to be available on Ethereum, Matic, Binance, Polka Dot, Cardano, and other platforms.
Tele NFT
This multi-chain NFT marketplace is going to feature the latest NFT tokens. Platform users can use this marketplace to list new NFTs, sell them, and buy profitable non-fungible tokens. TELE token stakers will benefit from the growing popularity of this marketplace. They will gain tokens whenever a user pays the fee to use this new NFT marketplace.
Tele Score
The Tele Score program is designed to flawlessly assess the credit-worthiness of a user. It is a multi-chain programmable protocol. It assesses the user’s crypto holdings, transaction history, and several important factors to generate the most accurate Tele Score.
Users with great Tele Score can hope to borrow cryptos at the most appropriate interest rates. Some users might get a low Tele Score if they have zero or very low transactions in their crypto wallet. The interest rate for users with a high Tele Score can be stable and users with a low Tele Score may get a higher interest rate.
Users, who buy and stake the Tele coin, can easily improve their credit worthiness. Lenders will use this protocol to identify the trustworthiness of the borrower to prevent losses. Therefore, it will benefit millions of crypto users.
Tele Pad
This platform is offering a sophisticated launchpad to run any Initial DEX Offerings. Being a multi-cross chain launch pad, the Tele Pad will allow TELE coin holders to participate in IDO. This platform will assess various parameters related to the IDO launch PAD projects. Thus, it will decide whether the IDO will go live or not.
Telefy is going to charge 10% protocol fees and Tele coin holders will gain a share from that fee. Thus, Telefy is going to benefit stakers who are looking to earn more cryptos without investing more.
What is TELE Coin and why Telefy users will need it?
TELE is a governance token introduced specifically for the Telefy platform. Every platform user will need this token to use the services offered on this platform. Since Telefy is a decentralized platform, users can use their TELE token to propose or support the proposed changes.
Users can earn the TELE token by staking the TEL Lending Pool tokens. TEL Lending token stakers will also gain the native token as a reward. TELE staking will help users in improving their Tele score. Therefore, thousands of crypto investors will soon demand this new token.
Telefy will completely transform the way people lend, borrow, and exchange cryptos on various platforms. It can play an important role in reducing interest rates. It will build trust among crypto investors so that they can lend tokens without worrying about potential losses!
