LocalTrade Introduced DeFi Wallet To Drive Mass Adoption Of Decentralized Finance, Tokens and Crypto

3 min read

LocalTrade Introduced DeFi Wallet To Drive Mass Adoption Of Decentralized Finance, Tokens & Crypto

LocalTrade’s introducing DeFi Wallet, helping you trade new kinds of digital assets on the blockchain. The company is on a missionto make decentralized finance not only possible but easy for anyone to use.

Known as DeFi, decentralized finance is a growing market. As of today, DeFi’s market capitalization sits at $74 billion, an increase of 400% in the past year. 

In spite of its ups and downs in the early summer, investors and companies are keen to explore all that DeFi has to offer. This growth is largely due to a list of projects, most of which are focused on specific financial services. Consider MakerDAO as an example. MakerDAO is a decentralized credit platform on Ethereum that supports Dai, which accounts for almost 30% of all locked value.

Compound, Aave, and InstaDApp, which are close by, are rival lending platforms, as well as Synthetix, a derivatives platform, and Balancer, a portfolio manager.As of late, a rising trend in the market has been the creation of ecosystems powered by internal tokens or cryptos. These ecosystems work as a hub that offers a range of different DeFI, both from the project and from third parties.

Retail Investors to Embrace the DeFi Market

Among the many companies doing this is LocalTrade. LocalTrade began as a cryptocurrency exchange based on CeFi, and has become one of the biggest in terms of 24 hour volume.

Recently, LocalTrade entered the DeFi space with the goal of building a comprehensive financial products ecosystem. They have started with the launch of the DeFi Lab and the LTT token. 

DeFi will use this as the central hub from which all of its services will be offered to crypto investors. According to their whitepaper, their goal is to bridge the gap between traditional finance and the crypto industry “by providing the most profitable, efficient, and safe financial instruments for all crypto investors.

Building An Entire DeFi Ecosystem – The LocalTrade’s DeFi Lab

In order to invest into and trust LocalTrade’s DeFi Lab, users will first need to take their first steps into a DeFi platform.This is the place where they will launch a series of in-house financial services based on their ambitious roadmap, which includes some of the most popular products on the market, such as:

Smart-Funds

NeoBroker’s smart-funds enable users to invest in shares of pre-IPO companies, thereby becoming part-owners of such companies.

In particular, tokenized investments are appealing to small-scale investors, who have systematically been excluded from the venture capital market due to high investment requirements and professional accreditation.

In tokenized stocks, users can collectively buy private equity shares in the form of tokenized securities for as little as $10. Notable examples include Bitpanda, Smartbroker, and Trade Republic, among others.NeoBroker Smart-fund will be launched by LocalTrade by the end of October, powered by the Ambisafe blockchain protocol.

According to the company, “we are able to create smart contracts using this regulatory-aware protocol, which automates operations and makes them more transparent and more effective.”.

Yield Farming Protocol

The Yield Farming Protocol is considered the biggest growth driver of the DeFi sector. It consists of staking or lending crypto assets for the purpose of generating high returns or rewards in the form of additional cryptocurrency.

Considering further developments like liquidity mining, providing liquidity on DEXes through liquidity pools, and staking assets to validate data at PoS-based DeFi projects, this ingenious solution has skyrocketed in popularity recently. 

Token Sale/ ICO 

It is the process of issuing tokens in exchange for another cryptocurrency. Initial coin offerings are also known as token sales. Companies use token sales to raise funds and as a means of investment internally.

In the first round of their LTT token sale, LocalTrade has started selling LTT tokens. The token will be used by users within LocalTrade, and the company will use it to fund other DeFi projects.

In the first round of the sale, tokens were available for as little as 0.10$. The initial token sale has been a success, reaching 60% of the target audience so far.

Defi Wallet

With the DeFi wallet, users are able to store their assets securely even when they are disconnected from the internet. They provide easy access to the DeFi platform and its services as well as flexibility when exchanging crypto-assets.

LocalTrade introduced a multi-currency wallet application, DeFi Wallet, to further drive mass adoption of decentralized finance. The application has an easy-to-use interface and offers a slick gateway to decentralized financing,  the company mentioned.

Launchpad

Known as launchpads, they enable investors to invest in new cryptocurrency projects before they are released publicly. These products require extensive knowledge and expertise as they are high-risk projects.An exchange or another project that specializes in launching crypto exchanges typically operates launchpads.

A dedicated IDO platform will be created by LocalTrade to help innovative teams gain worldwide exposure and access to their projects.

According to DeFi, the Launchpad is designed to support cryptocurrency projects and encourage the adoption of blockchain around the world. Currently in its infancy, DeFi is one of the newest segments in the cryptocurrency market.

Decentralized finance is the process of issuing financial instruments that are effectively done using the emerging technology of blockchain. As with traditional financial ecosystems, DeFi provides similar products and services, but in a digital, blockchain-based way.

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