DeFi, known as Decentralized Finance is a concept referring to a number of financial application in blockchain/cryptocurrency that is focused on eliminating middle men from the system. DeFi is inspired by blockchain, a platform that introduced the popular Bitcoin. DeFi is not centralized like other systems which makes use of middle men and slow down the processing speed of platforms. These centralized systems do not give their users direct power over their funds. DeFi is different because it expands blockchain more. It has taken blockchain from easy cost transfers to difficult financial exercises. The non-inclusion of middle men in the DeFi industry is one of the greatest advantages. It was commonly known as "open finance".
Poolz is a decentralized liquidity exchange that aims to connect investors with project owners. It finds early provision for existing tokens in various cross chain token exchange. DeFi start up projects looking for a stable platform to increase its token will find Poolz platform interesting. Poolz DeFi creates a solution to the fundraising and liquidity which project holders find hard to attain. Poolz solves the problems that are currently faced by the DeFi world, example of which is bad-written smart settlements.
Poolz users are divided into two: Pool creators and investors.
- Project owners: First of all, pool creators are to select the blockchain protocol of their preference and a wallet. In the MVP phase of the Poolz platform, it is expected that the pool creator chooses Ethereum as the blockchain ecosystem and choose Metamask as their cryptocurrency wallet. The Poolz platform, later in future will accept other blockchain protocols and allow the users to unify wallets like Coinbase wallet and other wallets not built on the Ethereum blockchain. Pool creators can begin to develop their pool by selecting the 'create a pool' button after which they follow some guidelines in the creation of the pool. After these guidelines, the pool creatrs choose the 'Start' button to sign in their pool on the platform built on the Ethereum blockchain. Finally, the pool creators will give two sets of fees on the Poolz platform for its conservation.
- Investors: The UI of the poolz platform is an interactive one like that of a marketplace, so liquidity owners can easily choose amongst the pools accessible on the platform whether new or old. The investors will also have access to the pools information. Before the investors can partake in the pool, they have to choose the blockchain ecosystem that will be utilized and a wallet. The investor proceeds to join the pool by selecting 'join'. The setup interface will display to them to add the quantity of tokens to be bought or the quantity of ETH/DAI they would like to invest in. To be on the safe side, the Poolz platform makes the investors run an authenticity check before a pool is chosen. Once they agree, the swap will begin. It will either transfer the quantity of ETH/DAI to the cryptocurrency wallet they connected or the auctioning tokens will be moved to the wallet that they connected or at the end of the pool's period, based on the type of pool chosen by the investor(TLP or DSP).
Poolz Official Links :
Telegram Announcements: https://t.me/Poolz_Announcements
Publishers Informations :
Bitcointalk Username : Ubaraw
Bitcointalk profile link : https://bitcointalk.org/index.php?action=profile;u=2835216