Blockchain and Smart Contracts open many doors to new decentralized businesses and eliminates the need for expensive third parties. Many new companies are now working on this technology, and large companies are testing it in closed networks to collaborate directly with each other without the need for intermediaries. Moreover, another main reasons why cryptocurrencies are more fashionable is because we know that traditional banks, as modern as they want to be, have an old-fashioned culture and mentality. Beyond the typical financial instruments, they have only evolved to provide some online services. Now, with the emergence of DeFi (decentralized finance), a world of financial instruments is opening up, accessible, open and without permissions for anyone with a cell phone or a computer connected to the Internet. It is a movement that takes advantage of decentralized networks to transform old financial products into transparent protocols that work without intermediaries.
For that reason, there is a lot of projects that are starting to use this new technology. However, not all of them are worth it. We have to read well what each project is dedicated to, what is its whitepaper, its qualified advisors, etc. As I said, blockchain technology has gained popularity due to the hype about cryptocurrencies which has shaken many startups to launch their own cryptocurrencies even without convincing fundamentals. This trend has emerged because new entrants have been more agile in adopting emerging technologies compared to incumbents who are hampered by legacy systems. However, this competitiveness and this advantage enjoyed by the new players may be short-lived, as no economies of scale are taken into account.
Moving on, the project I’m going to present you is KragX (https://kragx.io), a decentralized financial platform and exchange built and powered by Ethereum.
In more detail, Kragx (https://kragx.io)is a decentralized platform designed to, not only provide fast, smart, accessible and cost-effective financial services for borrowing, but also to be able to lend cryptocurrency assets with the ability to exchange them. Inside the platform, users will have the opportunity to optimize their performance to obtain Kragx tokens, earn money and also use tokens as a means of payment.
One of the most interesting area that the platform offers is the yield farming, where user can earn tokens as simple as participating in the KragX ecosystem. Instead of other platforms, the benefit of KragX yield farming is that user will receive an amount of KragX everyday while participate in the ecosystem. Thus, you can earn tokens when you are staking, investing, loaning, depositing, etc.
Furthermore, the most known incentive of yield farming is the earnings you can obtain when you aggregates liquidity pool to the platform. In this case, KragX platform is similar to other platforms. You will be reward in accordance of your total share of pool in the ecosystem.
With this features, KragX team are expecting to increase the capital of KragX and maximize the returns.
How it works?
KragX relies to its greatest virtue on creating Defi applications, building cryptocurrency exchanges, enabling the use of Kragx tokens for purchases in the digital world, and enabling the use of Kragx tokens to facilitate and receive payments and salaries. In this way, Kragx offers a peer to peer trading platform for cryptocurrencies with various financial options within the cryptocurrency and blockchain space to customers.
Kragx is based on strong decentralized governance not controlled by any establishment or government but by an independent board, which is governed by the idea of defi master voting its members and giving essential decisions. Moreover, the fact that it employs a Turing-incomplete protocol to protect and minimize all attacks, thus maintaining the security of the platform, makes it more attractive and differential. Kragx contributors will be able to lend and borrow through a secure, collateralized and reliable system, and will be repaid by earning interest on the assets.
a. A safe and secured system that allows users to lend and borrow crypto assets via smart contracts
b. A unique application of Decentralized Finance including Liquidity Mining and Yield Farming, enabling users to provide liquidity to particular token and get rewarded in accordance to their share of the total value and turn over in the platform.
c. An AMM that allows cryptotrading in a permissionless and open liquidity pool system
KragX empowers the access to the new era of decentralized finance, putting the main focus on the financial health. It uses new technology to automate the manual processes of investing in cryptoloans and collateralized loans and adds user demand in markets.
The token name of the platform is KragX. It is created in the ERC-20 Ethereum blockchain network with the aim to power the decentralized finance products and services of the paltform. The token will be the main useful asset to invest, lending, borrowing and staking, and holders of KragX will have the governanve of the ecosystem.
Token name: KragX
ITO Price: 1 KRAGX = 0.01$
Max ITO supply: 70,000,000 KRAGX
The project gives the opportunity to earn KragX tokens performing some social media tasks and doing simple steps from the bounty program explained into the following Bitcointalk Thread here (BTT_Thread_KragX), where you can access the link in order to see what are the conditions to become an early KragX contributor and start acquiring tokens.
For more information about the project, you can visit and read their WhitePaper available here (KragX_WP). You can also stay tuned in their official Telegram Channel (https://t.me/kragx_chat). I hope you liked the post and soon I’ll send you new ones.
As said before, traditional financial services are becoming obsolete and blockchain technology is rapidly redefining traditional finance by granting people freedom in the way they manage their finances. As we have seen, the KRAGX project, postulates itself as a decentralized financial platform with the idea of revolutionizing the financial world through its unique borrowing, lending and exchange services.
Social Media Links
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Bitcointalk username: adriaparcerisas
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=1870482
Ethereum wallet: 0x3e10d9Cb6a5af372C00563aA19FEE3122A5C0Cd4
Bitcointalk Proof of Authentication link: #1332 (https://bitcointalk.org/index.php?topic=5313790.msg56532907#msg56532907)