Your Bitcoin and Gold Can Generate Yields With TheStandard.io
Are you tired of earning measly interest on your hard-earned savings at traditional banks? Look no further than decentralized finance, or DeFi, for a solution.
DeFi (Decentralized Finance) uses innovative smart contracts and cryptocurrency to provide much higher yields on cryptocurrency holdings than traditional banks offer for deposits, GICs, bonds, etc.
Crypto users can earn great yields on their investments through staking and yield farming. Staking rewards users with protocol-generated yields in exchange for using their tokens to help secure and decentralize the network’s transaction verification and block generation systems or for simply locking up tokens to take them off the market. Yield farming allows users to send assets to various types of smart contracts in exchange for rewards/investment returns; these smart contracts generate revenue by the assets’ use in various types of transactions such as swapping, lending and borrowing. Yield farming typically offers a greater return than staking, however, it typically comes with additional risks ranging from impermanent loss to abuses of custodianship such as fraud or outright theft.
TheStandard.io is building a high-yield model that allows investors to increase wealth without handing over custody of their assets. Through the use of smart vaults, users have the opportunity to lock up their rare assets in a smart vault and use these assets as collateral for the minting of sEURO, a EURO-pegged stablecoin. Traditionally, DeFi has been limited to cryptocurrencies. However, thanks to the design of TheStandard.io’s smart vault contracts and novel approach to tokenizing vaulted precious metals, users are now able to get similar returns using their physical gold; something completely new to the financial world. When a user deposits their assets into a smart vault, they are able to unlock the value of those assets by borrowing sEURO, which can be used in many different ways.
This system has many advantages including tax benefits. The sale of assets is a taxable event in many jurisdictions, meaning the sale of an investment at a profit may trigger capital gains tax. This can be disadvantageous if you intend to use those gains for further investment, and even disastrous if said investments take losses in subsequent tax years. Through minting sEURO by depositing crypto or gold into a smart vault, no sale of assets take place.
The user's assets are safely locked away with their own private keys and can be withdrawn at a later date, by closing the loan, and instead get to borrow against them through receiving minted sEURO. What is even more interesting is with inflation threatening to continually rise, this will in effect pay off the loan as the value of the fiat currency falls (also due to the loan being 0% fixed interest) and in theory, rare assets such as gold and bitcoin should also rise in fiat terms due to their scarcity.
The sEURO can be used in many ways, it can be deployed in Liquidity Pools for a portion of the LP’s fees, which is a simple way for users to further earn significant returns. Users can also utilize the funds for activities such as starting a business or purchasing a car for example, which they may not have previously had the liquidity for without having to sell their assets. The possibility of borrowing against existing investments at a fixed zero percent interest rate has been a strategy only available to the super-wealthy up until now. This is why the project is so revolutionary and here to deliver DeFi’s ultimate mission, to change money and change the world.
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