Then, what is the use of Cryptocurrencies and Blockchain?
As a new technology expert, that Decentralized Financial, known as DeFi, is the best answer to that question. DeFi refers to financial services that operate entirely on a blockchain network, not through intermediaries such as banks. But DeFi comes with various risks that developers and regulators also need to address before it can become a mainstream service.
What is DeFi?
In the old service, if we want to borrow 100 million, we first need some assets or those already in the bank as collateral.
The bank then reviews our finances and sets the interest rate for repayment of the loan. Banks give us money from their deposits, collect our interest payments, and can confiscate our collateral too if we fail to pay.
It all depends on the bank: the bank is in the middle of processing and controlling our money. The same is true for stock trading, management, assets, insurance, and virtually every form of financial service that exists today.
Even when financial technology applications such as Chime Affirm or Robinhood perform financial processes automatically, banks still fulfill the same intermediary role. This then raises the cost of credit and limits the flexibility of borrowers. DeFi reverses the rules of this regulatory system by locating financial services as decentralized software applications that operate without ever taking over user funds. If we need a loan, we can get it instantly just by placing crypto currency as collateral. This creates a “smart contract” that helps us get from other people providing pooled funds on the blockchain. This process does not require a bank clerk.
All run on so-called stablecoins, which are currency-like tokens that are usually pegged to the US dollar to avoid sudden changes in bitcoin and other cryptocurrencies. Transactions are also completed automatically on the blockchain, a digital book of transactions that is distributed across a computer network, rather than through a bank or other intermediary taking the cut.
This benefit also caused the growth of DeFi skyrocketed
At its recent market peak in May 2021, over 80 billion dollars (or approximately 1.5 quadrillion) worth of cryptocurrencies were agreed in deFi contracts; in the previous year, the total amount was less than 1 billion dollars from the previous year. The total market value is 69 billion dollars in August 2021. That’s just a “drop” in the global financial sector’s 20 trillion dollars which shows there is plenty of room at DeFi for greater growth.
That Is, Telefy Provides A Way To Link Untrustedly
Phone points, that is, credit points for each wallet. Telepoint Services that come with the defined telefy platform Reliability of each wallet and make the most money Interest rates suitable for users to use Loan group profits. Based on the suspension of User wallets and transactions Tele-Score is affected and is always Users can pay the optimal interest rate Loans of their choice .
Solution
Tele-Score Will Be Released As A Microservice.
Open source, exchange or users who are interested in using this service. Remote score may be a conversion service that is subject to change most decentralized solutions today’s market by dividing users into many categories based on the date you joined defi chain and other login information. Again, repeat that point, telefy one-stop solution for multiple blockchains including not limited to DEX, Lending, Launch PAD, NFT .
Telefy Function
The Telefy platform includes the following protocols
Tele Swap | Is a multi-chain protocol that allows users to exchange and add coins. Liquidity using AMM (Automatic Market Maker).
Tele Lend | Tele Lend is an automated multi-chain lending protocol that allows users to lend or lend users Borrow with telescore.
Tele Score | Tele Score is a multi-chain programming protocol for efficient calculations. User’s creditworthiness based on the amount of money the user holds, transaction history, and part Related parameters.
TELE PAD | Is a multi-chain model that supports the initial DEX offering (IDO) to users. Holder of TELE coin stock.
TELE NFT | Is a multi-chain NFT marketplace where you can buy and sell NFTs. Remote NFT protocol fees will be distributed to TELE staking
Telefy is making a sales offer, which you might be interested in. The sale time is very limited, don’t let you be left behind.
Interesting this project?
Join Now! More Info:
https://telefy.finance/
Telegram: https://t.me/telefydefi
#Defi #Telefy #DEX #cryptocurrency #Ethereum #binanceSmartChain #Bitcoin #airdrop #polkadot #Matic #Polygon $Tele #Cardano #ETH
♡ WEBSITE ♡ TWITTER ♡ TELEGRAM ♡ REDDIT ♡
♡ FACEBOOK ♡ INSTAGRAM ♡ FORUM ♡
Proof of authentication:
https://bitcointalk.org/index.php?topic=5388283.msg59529430#msg59529430
— ERC20: 0xbf145972173caf7b9bd33b98bb2b0091dfed4540
— Telegram Username: @mbe48
