Why we’re building Zyield Finance
Zyield Finance, was born out of the need to address some of the biggest pain points for mass adoption, making DeFi easily accessible to everyone.
Introduction
The emergence and growth of DeFi (decentralized finance) since late 2017, early 2018 has been nothing short of astonishing.
In just a few short years, the space has grown from a few pioneering projects like MakerDao(decentralized stablecoin), Compound(lending/borrowing) and DyDx(derivatives) running on the Ethereum network, to hundreds of projects across multiple networks.
The so-called “DeFi Summer” of 2020 proved that DeFi is not just a fad, but a sustainable and innovative technological trend in the financial space.
A parallel ecosystem to the traditional financial system, where anyone passionate and knowledgeable enough can build new finance primtitives, protocols and apps in a decentralized and permissionless manner.
As of this writing, DeFi represents a $240 bil. dollar ecosystem and growing fast. Total cryptocurrencies market cap stands at $2 trillion.
Opportunity & Risk
With the advent of DeFi, comes opportunity.
Opportunity for tech-savvy early adopters and crypto space enthusiasts to take advantage of the new and innovative applications, which by eliminating the middleman (banks, financial institutions, intermediaries) were able greatly increase their investment returns and yield on their money.
By taking advantage of all that DeFi has to offer, these early adopters after spending days, weeks and months researching and trying various applications and strategies, are able to enjoy gains that traditional investors would be absolutely shocked by.
A really simple example would be a steady 5% - 10% interest on stablecoin deposits(mostly denominated in USD)into various borrowing/lending protocols like Aave and Compound. Compare that with the regular 0.25% to 2% interest paid on your average savings account. (yes, we’re aware the risk profile is very different, but still).
As with any new and exciting financial opportunity comes risk and the DeFi space has seen its share of major fails, hacks and rug pulls. Certik, a crypto space security company, estimated that in 2021 a stagerring $1.3 bil. has been lost, with the most common vulnerability represented by centralization.
On top of that, users have to always be extremely careful when connecting their crypto wallets to various dapps(decentralized apps) websites and avoid phishing attempts, signing and approving transactions, giving unlimited permissions to their wallet funds when connecting, sending funds to wrong blockchain addresses and so on.
Zyield Finance is born
Today, for your average investor to start using DeFi in a meaningful way and truly make the most what it has to offer, it requires weeks, if not months, of research and learning, while always being mindful of the security pitfalls.
Definitely a scary experience for any normal person looking to entrust their hard earned money to a space they don’t really know how to use, trust or fully comprehend.
It also requires a paradigm shift in the way you think about decentralized applications, ownership, digital currencies and the incredible possibilities when all of them converge.
Zyield Finance, was born out of our cumulative years of experience and knowledge actively using, participating and being involved in the cryptocurrency space in general and DeFi ecosystem in particular.
Given our team’s extensive background in building digital products and crypto-related applications, we quickly realized that if the space was going to attract more people interested in taking advantage of all the financial innovation and opportunity, it has to become a lot simpler to use, safer and in line with today’s financial applications most people are comfortable using on a daily basis.
Our guiding principles in building Zyield Finance are security, opportunity, knowledge sharing and user experience.
We set out to build the next generation of non-custodial fintech platform by empowering our customers with DeFi knowledge, personal finance growth opportunities in a secure and easy to use manner with an obsessive focus on customer success.
Zyield abstracts away the complexities of Web 3(decentralized networks and applications)and DeFi by offering a format and user experience similar to using any investment or bank account. Forget about gas fees, signing transactions, seed phrases, hundreds of networks, protocols and dapps.
We make DeFi easier and safer to use by offering a simple, secure and curated fintech experience.
As you can probably tell by now, we’re really passionate and excited about what the future of DeFi and Web 3 holds for our users. Our goals are ambitious and we invite you to join us on this journey by giving Zyield a try and providing your feedback along the way. We promise to always listen and provide guidance.
Onward!
