Bitcoin was created out of a necessity to make financial transactions easy and accessible to all. Geographic locations and political restrictions would not matter. Cryptocurrencies, therefore, were designed to take the economic power away from a few elite and back to the people.
Decentralized Finance is the next iteration of the ease of financial handling. It uses blockchain to create many different financial products and services, making it easy for people to use. This includes every possible financial setup in the traditional sense: banking, loans, trading, insurance, employment contracts, etc.
Decentralized and Isolated
In the last few years, the DeFi movement has seen significant trends and adoption. The use of smart contracts and dApps has led to the creation of some exciting projects. One of them is Bancor, a decentralized exchange that offers uninterrupted liquidity and operates without an order book.
There are many other DeFi services around the world, with thousands of people using it. In fact, according to the DeFi tracker website DeFi Pulse, more than $7 Billion US are now locked in different DeFi platforms.
However, there is one thing that is a significant hindrance to DeFi. The ability to quickly make DeFi services has meant that hundreds of them are active today, but they work independently. Using their blockchain networks, they work in isolation from each other. For DeFi users, this can be problematic if they want to use multiple DeFi, and different platforms and chains offer the products or services.
Ferrum: Interoperability of DeFi
Ferrum Network is a blockchain system that creates an opportunity for different DeFi platforms to connect. This interoperability of chains breaks down the silo-like situation and eliminates the barrier towards global mass adoption. To help people and encourage the adoption of DeFi, Ferrum has created a few independent services of different blockchains:
- UniFyre Wallet: Send and receive any cryptocurrency, using any messaging app. With Link Drop technology, users don’t need to worry about having the right wallet and remembering the long string of characters that make up a wallet address.
- Infinity DEX: A completely decentralized exchange with advanced trading such as margin and leverage. The exchange is a cross-compatible platform and allows different tokens to be traded.
- Sub Zero: A universal wallet app that can convert any offline Android-based mobile into a cold storage, offering extreme assets protection.
- FirstKudi: Invest and send money to any place in the world through Ferrum’s own payment gateway.
- Flexible Staking: Users of Ferrum can stake any ERC-20 standard token by offering them a single entry point, eliminating the need for users to sign up on different platforms.
- The Foundry: Projects can launch their platforms through the Foundry, giving them access to many backers and investors, even if they are not on the chain.
- Token Bridge: Moving assets between chains has never been easier. Users can send currently send and receive assets on Ethereum network and the Binance chain.
- Cross-chain liquidity provider: Ferrum Network has been working with the Binance Chain community to help make Binance Smart Chain a robust blockchain platform. They are part of a growing network of BUIDLers.
- Swap drop Technology: revolutionary OTC solution that eliminates escrow and allows parties to swap tokens risk-free using a shareable link. Parties can take advantage of Swap Drops to conduct risk-free OTC trades over telegram or any other medium.
- DeFi Flash Sales, Risk Free-OTC at a Discount: a short term sale of project’s tokens (at a discount) using the UniFyre Wallet Swap Drop technology, which takes place in a Swap Drop OTC channel.
- FRM Buyback wallet: 100% of fees earned from the DeFi Staking Platform support the Uniswap liquidity pool or FRM staking rewards.
- Staking Feature for Unifyre Wallet: pools for staking projects already listed on UniFyre.
- FRM Holder Benefits program: a reward program for the community members holding their tokens on UniFyre wallet; FRM holders get benefits from every new financial activity made by the current and the new partners of Ferrum Network.
Ferrum Network is a very intuitive approach towards uniting different blockchains into a single, massive network that will see DeFi being available for every user across the globe. The platform already has practical applications that are being used by hundreds of people.
The platform is the perfect tool to remove the barriers that afflict DeFi currently. To learn more about the Ferrum Network, check out their newly redesigned website.