Smart Finance A New Frontier For DeFi Services and Governance System
Do we still need another Defi Project?
Do we still believe in Defi?
Is Defi beneficial for the crypto community?
Is Defi safe?
is Defi the answer to a problem in the modern financial industry?
Is Centralization so bad that Defi is an option?
Questions like this continue to be asked around us. All this happens because Defi (decentralized Finance) is popular in 2020. Many Defi projects were launched, this looks like when it was 2017 where ICO was first popular. Many new projects were launched at that time. But what sets it apart right now is Defi. If previously there were many concepts introduced, but now only one Decentralized Finance. Now there are a lot of Defi projects out there and they have users who are quite enthusiastic about this concept.
The reason why Defi can be popular is that decentralization is a major goal for people all over the world. Many are fed up with the current financial system. Centrally and authoritarian managed. Therefore Defi looks like a paradise in the middle of the desert, many idolize it. With Defi people can still be anonymous, and they can use banking services without having to fear their data being hacked. It's all done with the help of smartcontrac. They can borrow funds, save money, and there are even some defi who have services as an online payment tool. This is very good isn't it, it's like the current banking system with the added benefits of blockchain.
I used to think if only the financial industry could integrate with blockchain maybe we could be one step ahead. But all of that is difficult because if they want to make it Decentralized, then no one will organize it. After all, all parties have the same authority. and don't forget the regulations in each country. This complicates the realization of decentralized finance without limits. But eventually, that thought can be realized, if it can not be integrated, then just make it from the beginning. And be Project Defi at this time. Thanks to them, the development team made this a reality.
But isn't there a lot of Defi already?. There are a lot of Defi projects out there, do we still need defi projects in the future?. It's like traditional banking, in the 21st century there are many new banks introduced. But has anyone asked if we need another bank? None whatsoever, and that's the answer to Defi. It doesn't matter if in the future there are a lot of Defi released because there will be users who will use it. All this depends on the benefits and services they provide.
And the last question is centralization bad?. I don't think it's bad. I have no problem with banking policy at the moment. And I thought I'm not alone in thinking that. But different from decentralization, because decentralization is perfection. This system is transparent, fast, and without much regulation that makes it difficult for us to enjoy banking services. so Defi becomes an alternative option for those who are frustrated with the current financial system.
And that's why I'm going to introduce the newly released Defi project. This project is Called Smart finance, another Defi Project released at the end of 2020. Smart finance is just like defi projects in general as they offer Crypto, Staking, farming, and Liquidity Mining loans. Nothing too different nor nothing new. But there's one thing I see as unique, as they offer something a little different.
What's different about this Defi platform?
According to what I read, they cooperate with the ICO pantera / Pantera Group. ICOPantera is a leading growth accelerator in Korea that has a series of projects on its success list. ICO Pantera is a key player in terms of marketing and partnerships in top exchanges such as okex and kucoin. ICO Pantera has been the catalyst for the success of several projects such as Origin, Acropolis, Elrond, Chromia, Ferrum, and other successful projects in the Korean community.
The ICO pantera will be a key holder to our Gnosis multi-sig wallet (Which means with a multi-sig wallet in place, the possibility of bad resource management or rug pulling is mitigated to its barest minimum as the team's total influence on resource allocation, distribution, and management are limited). Not only that, but the Smart finance project team has also been KYC verified, this verification is done by using Dextools.
the five periods are :
- 7 days
- 14 days
- 30 days
- 3 months
- 6 months
Daily profit distribution will vary depending on the staking period, where the long period gets a greater percentage. Also, the staking process on this platform has 2 methods with different pools. The first pool is 27% of the SMAT staking incentive with the limit amount to be released directly on the platform. and the second pool is 23%, access to this pool based on whose fast enough to get it first. So those who are faster will get the first pool with the addition of the second pool. Each other pool enabled for staking will have a single distributed reward distribution scheme Proportionally among stakers according to the individual account share in the pool.
And don't forget about Fee, smart finance has a competitive fee. They only charge 0.1% for each token at stake. And 0.2% for unstaking. Each fee will be directly transferred to the governance. Incentives contract proposals. The feed mechanism will form a reserve pool that will be used to incentivize successful platform proposals based on their tiers.
I don't think there's anything unique, if you've ever invested in Defi project or used Defi, you probably already understand. Smart finance owns Liquidity Mining, Lending, and Farming. it's all the same as on other platforms. For more details, you can read their whitepaper. I'll give you the link below later.
Smart finance platform offers good security. Is this serious? yes right, they give assurance that their platform is safe. One of their main focuses is security, they want to provide a safe service for users. They create smart protocols, these are the security systems they create to prevent hacking on their platforms.
Smart Platform Built to work on a variety of devices. ranging from PC to Mobile (android and ios). All this is done to make it easier for users to access Smart Finance services.
Smart finance is a Defi platform created for the community, community managed, and fully supported by the community. The future of smart finance is in the hands of its community. This can be done because of the unique and fair governance.
Don't forget about its transparency, Defi is a platform that upholds Transparency. That's why The Smart Platform creates a system where the community can see all the activities that occur in the Smart finance ecosystem openly. This is all done as a way to prove their transparency.
Talking about Defi wouldn't be perfect if I didn't explain their Tokens. Smart finance creates Tokens on the Ethereum network under the symbol of SMAT. For its function, you might already understand, so I'll skip on that. In general, the function of SMAT Tokens is for the cost of making proposals, incentive staking, and others. For governance, SMAT tokens also serve as a force (sSMAT) where more and more tokens are owned determining how big of a vote they have.
That's all for our discussion this time. What do you think? Is smart finance projects are different from the existing Defi? Or you have other opinions about this project. Say it all in the comments below about this project. I'm open to all opinions.
And don't forget I'm providing a link for those of you who want to learn more about this project or just have a live discussion in their telegram group. Thank you for reading this article, stay forward to other articles about crypto, only on my site.
- Website : https://smarts.finance
- Whitepaper : https://smarts.finance/assets/documents/WhitePaper.pdf
- Telegram : https://t.me/smartsfinance
- Discord : https://discord.com/invite/rertF5a
- Twitter : https://twitter.com/Smarts_finance
- Medium : https://medium.com/@smartsfinance
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