Smarts Finance: The community-centric DeFi platform


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INTRODUCTION
Decentralized Finance(DeFi) is not an entirely new concept in the market. It was given birth to by cryptocurrencies and Blockchain technology. Past DeFi projects haven't done too well in the market, so some people are terrified to try out recent DeFi products. The DeFi world is still growing and as such, should be given chances to mature in the market. Blockchain-related projects has intervened in the DeFi world and has invited some changes to it. Smarts plans to execute this through their smarts services offered in their ecosystem and many exciting features also available. Transparency is what they are heading for which will be made possible through the adoption of a multisignature wallet where highly regarded influencers will be involved in the signing of transactions as partners in the key holder operations of the system. The influencers that will be accepted as key holders of the system would be one that the platform doesn't have any connection with.

Smarts Services

  1. Smarts staking: Smarts will allow its users to stake the SMAT token including other available tokens such as UNI, COMP etc. These other tokens can be accepted or not through the governance model where users can plan for proposals after they reach a requirement for decision-making on the platform. The staking rewards of smarts will be disbursed to users daily depending on the allotment of the particular pool. Users with longer staking durations get a higher yield than those with lower staking durations, so the distribution of interests among users vary.
  2. Liquidity mining: The common liquidity pool in Decentralized Finance is ETH/DAI, but on smarts, the common pool will be SMAT/ETH. Though yield farmers have the privilege to farm any pool, but they can start mining SMAT/ETH. The SMAT/ETH will serve as the main pool for the smarts liquidity mining function where 50% of mining rewards will be deposited. SMAT/ETH will be stored away for six months to enable a smooth running of the pool. The SMAT/ETH will be the current smarts product that will be released in the smarts ecosystem with hopes that it will have high profit in just its early stage. The community can decide to increase the number of pools and add up to the smarts ecosystem, and can do so by voting through the governance model. One of the main challenges users encounter is the Ethereum blockchain which has expensive gas fees normally paid in order for transactions to take place. Users try to avoid this high gas fees to the extent that they are willing to move their assets to a project's wallet instead of a contract address even when they know the risks associated with storing assets over there.
  3. Smarts lending and borrowing: Users can request for a loan on smarts like any other money market. The users are expected to reach a required collateral before their requests are accepted. Therefore, assets that back up the intended loan, serving as a collateral to it, will be over-collateralized. Lenders and borrowers are rewarded on smarts daily with SMAT.

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For More Details see the Links :
Website : https://smarts.finance/
Twitter : https://twitter.com/Smarts_finance
Telegram : https://t.me/smartsfinance
Discord : https://discord.com/invite/rertF5a
Medium : https://medium.com/@smartsfinance
Youtube : http://www.youtube.com/channel/UCp58Zt6o88nj9jH8tKtvzSw

Publishers Informations :
Bitcointalk Username : Ubaraw
Bitcointalk profile link : https://bitcointalk.org/index.php?action=profile;u=2835216


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