Having gone from $1.7 Billion market cap in 2013 to a jaw-dropping $ 1.7 Trillion (as of 21st Feb 2021), Cryptocurrencies now dominate financial news. But make no mistake, even with global institutional investors investing in cryptocurrencies, it is no bed of roses.
Price volatility and irregular returns are the shares of risks this e-currency comes with.
DeFi (decentralized finance) refers to the shift from traditional/centralized financial systems to peer-to-peer systems, unstoppable, highly secure utilizing smart contracts and ethereum. But there are some roadblocks:
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DeFi Challenges
- User Interface: If you are not tech-savvy, lack of good UI and user experience will pose a challenge for you when moving from fiat currency to cryptocurrency.
- Complexity: Many potential investors feel overwhelmed by the complexity & the volatility of this space.
- High Fees & Scalability: The high gas fees on Ethereum have made it virtually impossible for average users to use any product.
Solution: Cryption Network
The Cryption Network, with its goal to increase the adoption of crypto by helping the typical retail investor reap the benefits of this space, is the harbinger of good news for all of us.
The high ethereum gas fees, centralized BNB, and user experience in actually operating blockchains are the main risks the market poses at the moment .
But with Cryption Network, their biggest USP is negligible gas fees (with an eventual plan for completely gasless infrastructure). Running on Polygon (Matic network) helps keep costs low. There’s Quickswap and Polymarket running the same race as Cryption, so this should be an interesting space to watch. However, perhaps Cryption has an edge.
What sets Cryption Network apart from competitors
Cryption’s superior UI and UX, unconventional features, with better tokenomics, give them a cut above the rest. Cryption Network claims to be built on sound tokenomics principles to ensure sustainable growth of all of its products. Having been formulating products for 2 years now, the project has a presale scheduled towards the end of March, with exact dates to be announced soon. The team behind Cryption – a completely bootstrapped startup for about 3 years now has successfully built over 20 products for clients around the world.
As its lite paper highlights, the brand is now on its way to creating an array of in-house products.
Cryption Network Products
There’s a complete suite of tools Cryption intends to bring to the masses – from an automated market maker to a crypto hedge fund, NFT-powered membership tools, and even a full blown user app. Here’s a lowdon:
Swap Cafe
SwapCafe will be an automated market market – a DeFi exchange – enabled with ‘elastic yield farming’ – allowing for farm token distribution based on its value. Swap Cafe will also be a feeless exchange.
Seer
Seer is a Layer 2-based pediction market that will facilitate the generation and reading of predictions on the Matic network. With its choice of network being Matic, high frequency trades will now be a reality – a feature missing on Ethereum-based networks.
Crypto Hedge Fund
At the crypto market, investors are both spoilt for choice and lacking in real choices. There’s simply too much noise. Cryption is building a platform for investors to help channel capital towards a range of automated strategies and even fund managers of their choosing.
NFTs
NFT, while they may hog the headlines for art, are also useful as membership tokens. Cryption will be leveraging NFTs to enable memberships that support beta testing, discounted fee structures, income sharing streams and more.
Cryption App
Users will soon see the launch of the Cryption app (on Android and iOS) which will act as a wallet and a dAPP browser for both Ethereum and the Matic network. The app will focus on getting non- crypto users into using DAaps.
The line up doesn’t terminate here. There are more offerings in the works as well – such as leveraged farming, and frameworks/stacks for DeFi services.
Despite the variety of services on offer, nNew users should find the project to be a breeze, as Cryption will pay the gas fees on Matic. This should greatly improve user experience and allow users to use blockchain apps seamlessly. Cryption Network will also be adding smart contract calls to tokens which have partnered with them.
Join the Cryption Telegram channel here.
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