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The Middle Way of DeFi on BSV (a thread):
Some BSVers call DeFi on ETH a ponzi. It probably largely is.
But some aspects of DeFi are very cool. These are either already here on BSV or are being built right now. I dub these aspects ‘the middle way of DeFi’.
But some aspects of DeFi are very cool. These are either already here on BSV or are being built right now. I dub these aspects ‘the middle way of DeFi’.
I believe @fabriik_market will lead on this, but competition will be strong. @relayxio, @Bitstocks_ , @TokenSwap_pro, @Dot_wallet and @Voltfinance all have exciting roadmaps.
We’ll see
* Onchain exchanges
* Yield farming
* Tokenised BTC, ETH, LTC to scale them and reduce fees.
* Tokenised securities
* NFTs
* Stablecoins with real-time provable 1:1 reserves
* Onchain exchanges
* Yield farming
* Tokenised BTC, ETH, LTC to scale them and reduce fees.
* Tokenised securities
* NFTs
* Stablecoins with real-time provable 1:1 reserves
@Fabriik and @OnchainTrade are examples of onchain exchanges. @TDXPApp is as well in a way - not direct swaps but for CFD trades.
Yield farming will be offered by Fabriik, much like crypto exchanges offer today. There’ll also be integrations with apps like BSaV or Celsius.
Earn interest on your assets for loaning them out.
Collateralise any asset you want and take a loan out. https://tpow.app/c02c07fe
Earn interest on your assets for loaning them out.
Collateralise any asset you want and take a loan out. https://tpow.app/c02c07fe
When you loan your funds out you’ll be able to audit the automatic contract that protects your assets in case of a market downturn. https://powping.com/posts/bd1deae1100b56e255e2c4e61ea210541f2264f5d61be3974e6abcae4d3f1044
@TDXPapp already offers a form of yield farming. You can provide BSV to their liquidity provision and right now get a 141% return on your BSV. This liquidity provision allows them to operate their CFD trading. Warning: capital at risk! https://tpow.app/8c227157
DeFi on ETH currently has massive scaling issues, leading to very high fees. But amidst a euphoric price rise, fees don’t matter so much for many users. Who cares about high fees when your asset is rising 30% in a day?
But at some point, the euphoria ends. Only real world utility will remain. Ironically scaling on ETH and ERC-20 tokens will be solved by BSV, not with ETH 2.0.
BTC (and any other crypto asset) will also be scaled by BSV. https://tpow.app/8f1de4a8
BTC (and any other crypto asset) will also be scaled by BSV. https://tpow.app/8f1de4a8
With a recent record of 16.5m txs in a single block (27,358 tx/s) on the testnet, BSV is proving to the world that it is ready for enterprise and global adoption. https://tpow.app/f50c255d
@Wallet_dot already has some of this functionality available to tokenise ETH or BTC. @Volt_finance has it in beta right now and @Fabriik partnering with @money_button have said they will offer this too.
https://www.dotwallet.com/en/article/148
https://www.dotwallet.com/en/article/148
Regulation was recently passed in Switzerland to allow tokenised securities. https://tpow.app/a3880fe1
This also opens the path for what Bitstocks are calling STOs - Standardised Token Offerings. These are in essence compliant ICOs. Bitstocks are currently crowdfunding and plan to be pioneers of the STO instead of doing a traditional IPO. https://tpow.app/5a3e8883
Bitstocks to me appear to be pioneering the middle way of DeFi. How do you have regulatory compliance, yet still honour the privacy of users?
Their ‘Particle’ model of “everything yet nothing” lets users see their own personal transactions in a meaningful way (everything). But from anyone else looking onchain, it looks like gibberish (nothing).
They have also spoken of stablecoins with provable reserves. An API connected to a legacy bank account which credits 1:1 USD stablecoin to your wallet - a way to check reserves in real-time. In a world of Tether, this is a breath of fresh air.
The trend I see in a few BSV startups is first being a standard service, on boarding customers as normal. Then introducing BSV-specific features that add value to the startups core product. Educating their clients as they introduce these features.
Lastly, if you want to stay close to the centre of the BSV network, you need to join Twetch:
https://twet.ch/inv/liam
Thanks for reading!
https://twet.ch/inv/liam
Thanks for reading!
