DAOSWAP - Evulation of Yield Farming
DAOSWAP
DAOswap envisions the huge growth of decentralized finance in the current market and in the near future. The goal is to serve people by outdating the drawbacks of centralized traditional finance ecosystems.DAOswap is a team of technical and non-technical experts who work together with the motive of offering the best possible services in the arena of DeFi. We understand how important it is to invest your hard-earned money.
The members of the DAOswap ecosystem can put their cryptocurrency in the liquidity pool. These assets in the pool provided by the liquidity providers will be lent to make the market and enhance liquidity. The LPs or yield farmers will get passive income in return to their contributions.
Benefits of using DAOSWAP
DAOswap is a decentralized platform that is no controlled by any central authority, enabling the users to enjoy the utmost freedom. People can stake, deposit against the liquidity pools, and involve in yield farming with ease and comfort. The user interface of DAOswap is very friendly and helps people by providing clear navigation. DAOswap allows everyone to earn passive income with their digital assets.
Decentralized
In the case of central investment or finance systems, governance is done by a single entity. Such systems are not transparent. DAOswap on the other hand is decentralized and operates based on distributed ledger technology. The entire network is transparent and the yield farmers are accounted for every single penny they put in.
No Middleman
The investments in DAOswap do not involve any intermediaries or third-party payment processors. The application is based on the Peer-to-Peer (P2P) technology. This enhances transparency and anonymity.
Secure
The decentralized application (DApp) is built on the Ethereum blockchain. Every single transaction is recorded on the blocks. The blocks are actually thousands of computers present across the globe. The copy of your transaction detail will be in every node and there is no way it could have tampered.
Automated
The yield farmers are rewarded based on smart contracts. Smart contracts are nothing but a piece of code written on the Ethereum blockchain that determines the regulations on which the return has to be provided. With the integration of smart contracts, there is no place for human intervention in DAOswap.
DeFi (Decentralized Finance) character
1. DeFi transaction fees are much cheaper than traditional finance, as well as faster international transactions
2. Identical data stored in multiple computers, No single point of failure
3. Peer to peer network, no middleman who takes large fees
4. Permissionless = no need for permission to create applications and permissionless to be involved in it, open to anyone, anywhere, regardless of the economic situation
5. Not controlled by one particular entity
6. There is no minimum limit for participation, compared to the minimum deposit of private banks in Indonesia which is 8 million rupiah
7. At the core of its business, it is not the institution and its employees that carry out operations, but rules written in code (or smart contracts). When the smart contract has been deployed on the blockchain, Dapps DeFi can run itself without human intervention - although in practice developers often do maintain Dapps such as upgrades or bug fixes.
8. In many cases, DeFi dapp developers issue governance tokens, which means that to change the rules for the smart contract code above, it must involve community approval, it cannot be changed by just one party. This means that customers or customers can also determine policies. Centralized finance does not exist.
9. What is needed to access: smartphones, internet and Dapps (Decentralized Apps) applications
10. Censorship resistant. Nobody can close your account
11. Dapps DeFi code that is transparent, open source and anyone can audit it
12. Globally designed from day one, farmers in any corner of the world can have the same access as top traders in top tier investment firms in New York, for example
13. Your transactions on DeFi are pseudonymous, tied to your username (or “your pseudonym” and not to your real identity.
14. Interoperable - new applications that can be built or combined by combining other DeFi products, such as lego. For example, stablecoins, decentralized exchanges, prediction markets can be combined to build entirely new products.
15. Without KYC / Know Your Customer, KYC is at the exchange level when a user wants to deposit and withdraw funds.
16. The security of your blockchain account is in your own hands.
17. Flexible user experience - You don't like the Dapp interface where you access certain DeFi? no problem, you can use other Dapps, or you can create your own. The defi smart contract is like an open API which anyone can build an app on.
Conclusion
In my opinion, DaoSwap is quite interesting by offering a stable ecosystem for economic flow in their ecosystem. This gives trust to its users to become contributors on their platform. Compared to traditional investment ecosystems, of course DeFi has more benefits than such ecosystems. Another thing is a well-designed framework and APY which I think is quite profitable and worth a try, therefore I hope you will become part of this great platform!
Author
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