OpenDefi: Where Physical Assets Meet Decentralized Finance (DeFi)
The world of emerging innovative technologies is always experiencing some dynamism that keeps the ball rolling, and thus paves the way for new innovations to get created. Over a decade ago, blockchain technology made its debut appearance within the technological space, as the underlying technology to drive Bitcoin. Subsequently, it was discovered that there was more to blockchain than just being a technology to drive cryptocurrency, and with the introduction of the Ethereum-based blockchain, decentralized applications (DApps) were birthed, and so was decentralized finance (DeFi).
Considering that cryptocurrency is a digital entity, there was some impossibility with bringing physical assets into crypto investments because there was no way to tokenize the assets. However, technology keeps evolving and at the moment a new project called “OpenDeFi” has made it possible for investors to use real world assets for their crypto-based investments.
What is OpenDeFi?
The OpenDeFi protocol is an offshoot product of OroPocket, and its framework allows for the use of assets in the real world with blockchain-based finance applications. Furthermore, developers can also build DeFis with the protocol. It may interest you to know that the OpenDeFi protocol makes it easy for fintech developers to create easy protocol integration needed for different onchain applications, and thus the different participating chains are allowed to perform cross-shares of the various classes of assets.
With OpenDeFi, investors can get access to amazing benefits and solutions needed to make the project a successful one. Basically, OpenDeFi serves as the connection between DeFi and the regular traditional finance. Furthermore, the framework encourages investors to get involved in order to enjoy yields on long term investments, using real world assets like stocks, properties, gold, silver, etc. This is a new development that does not have to be enjoyed by only those within the crypto community, but also by investors who may not know anything about crypto investments.
Solutions
Traditional finance systems have not been able to measure up to expectations, perhaps based on the centralized nature of their framework, and this has made it difficult for investors to get access to amazing investment options. Decentralized finance comes with solutions to the challenges experienced by traditional finance with a project like OpenDeFi. Here are some interesting solutions that OpenDeFi brings to the table:
Physical Assets as Tokens
The project seeks to tokenize completely insure assets that will not be in the custody of the company, but with a custodian. This solution makes it possible for institutions to also get involved and invest using the OpenDeFi protocol.
Zero Price Slippage and Quick Exchange
OpenDeFi takes DeFi investments several notches higher by offering investors the ability to transact with stable coins, have them sent to smart contracts, and get instant exchanges with the pegged amount of silver or gold.
Staking
Do you know that with OpenDeFi your assets can get staked and you will get a loan instantly, based on the assets staked? The protocol allows investors to get access to flash loans that happen instantly. Furthermore, investment liquidity guaranteed.
Yield Profitability
When you have gone through staking of your assets, that investment can earn yields for you. This invariably means that rather than have assets that do not yield interests; you can use them for investments and earn interests on them.
Cross-Chain Framework
The OpenDeFi protocol was created to support cross-chain operations. It was created to provide easy integration for asset chains to facilitate the seamless sharing of value and assets.
Link between Traditional Finance and DeFi
While traditional finance may have its shortcomings, it does not mean the system does not have its best features. OpenDeFi serves as a link between traditional finance and DeFi, by creating an ecosystem that involves the operations of multi-chains when sharing values and assets, and thus prevent outages that could happen if it were a centralized system. Furthermore, by bridging the gap, every transaction will have the backing of physical assets, and thus create liquidity.
From the above, it is clear to see that OpenDeFi is indeed revolutionary, and provides a level field for investors looking to use real world assets for their investments.
OroPocket
OroPocket is the power behind OpenDeFi, and operates as a platform for global investments for people in different parts of the world. OroPocket was created to provide digital-based investment opportunities to people based on their geographic location. OroPocket gives users the ability to invest in real world items like silver and gold, and comes with benefits like:
Debit cards
Portfolio diversification
Instant transactions across the world
Tezos tokenization
OpenDeFi unification
Seamless and intuitive operations
Zero hidden charges
0.25% transaction fees
The OroPocket app is available on both iOS and Android devices, and thus makes it easy for users to perform their transactions on the move.
At the moment, OroPocket is in partnership with some notable companies and platforms including: Tezos, Matic, Startup Reseau, Cashfree, Razorpay, etc. One of the major goals of the platform is to help people get financial freedom through its products.
Upcoming Token Launch
The original plan was that on November 11, 2020, ORO will be launched and listed on Uniswap. It may interest you to know that OpenDeFi intends to keep the market cap small for a while, in order to have some desired effect on token pricing. The first pair that will be available at the launch is ORO-ETH, and subsequently other pairs will be made available. In order to get ORO, it may interest you to know that there are no purchase requirements, other than the availability of ETH in your crypto wallet, as the ETH will be used to pay the transaction fees.
However, due to the recent ETH network problems, ORO token listing is being postponed. It was a wise decision because no company in the world would like to make a major step forward with such an unlucky event. Do not worry, the team is working hard and the launch date will be announced in the nearest future, so stay up to date and follow all official media channels to be informed!
The future looks bright for OroPocket and OpenDeFi, considering both protocols are not the usual products. Rather, they are unique because they make it possible for investors to use real world assets for crypto-based investments, and investors can also enjoy yields or interests on their asset investments. Furthermore, OroPocket is always looking to expand and improve on its services, and there will be more listings of the ORO token on different top tier decentralized exchanges in the near future.
Useful links: