Unlocking The World of Decentralized Finance
The CryptoCurrency market from 2020 to 2021 has undergone a huge change with an impetus on Decentralised Finance or Defi. The whole market is now valued over trillions of Dollars and has grown in value terms and is on a steady growth phase with a multitude of new products and innovative solutions entering the space. Further, there has also been a new space of Stable Coins which have complemented the Defi Space.
Given that the market is trending up, there will be a strong demand for borrowing and lending. The overall crypto market cap is expected to exceed $1 trillion. Stablecoin holders will have a high demand for asset management services. DeFi products and platforms, which are currently offering sizable rewards for liquidity providers, will take up a considerable amount of the market shares.
As of today, total Value Locked (USD) = $22.61B and Maker Dominance = 17.82%
Defi is still in its nascent stage and is still in its early stage, and the opportunity to grow is tremendous. The Compound, Aave and Yearn at this stage are leading protocols leading the lending and borrowing phase of the market.
Let us Introduce you to VortexDefi ~ the one-stop gateway to manage your investments for protocols on Ethereum and Polka networks.
Vortex ecosystem will provide a suite of applications that will enable the user from Ethereum as well as Polkadot ecosystem to do activities like NFT asset tracking, lending, insurance of crypto assets, borrowing, and providing easy (cross-chain) swapping from one crypto asset to another. Moreover, among various yield protocols, Vortex DeFi will also be powered by Yearn Finance protocol that will enable the product to aggregate across various lending protocols and provide the best and optimized yield to the yield farmers automatically.
Vortex DeFi is a web-based platform that aggressively aims to fulfill many DeFi related requirements under a single umbrella. Vortex eco-system will comprise of following products that will solve all the major use cases which a yield farmer might want to do in his day-to-day activity through different applications:
1. V-Swap: Seamless P2P (peer to peer) cross-chain crypto-asset swap feature.
2. V-Pay: Fiat ramps to buy and sell tokens with your credit card or bank account
3. V-Yield: Most profitable yield in one place, with integrated with yEarn Finance protocol, yield farmers can leverage on the best lending rates and maximize their profits.
4. V-NFTs: With NFT space booming, V-NFT will provide the NFT asset management and swaps within the Vortex ecosystem.
5. V-Insure: Insure your DeFi exposure within the Vortex ecosystem, with Vortex itself taking care by integrating with major insurance protocols.
Eventually, Vortex DeFi will be a one-stop simplified DeFi Asset management web-based application cutting across the different ecosystem (Ethereum, Polkadot etc.) and bringing together leading protocols and platforms to allow honest farmers to leverage the maximum potential of decentralized finance. The application will provide an integrated approach to handle the DeFi assets in a simple and secure platform that will be, 100% non-custodial in nature and where the core focus remains on user-experience, security, and privacy of data and user information.
Vortex DeFi encapsulates the core aspects of the decentralization concept. That is why Vortex DeFi optimizes DAAS (DeFi-As-A-Service) to optimize its benefits on the one-stop platform for all the DeFi asset management use cases for the end-user. Most importantly, Vortex DeFi aims to become the go-to platform for all levels of users (based on their experience with the cryptocurrency world) to be the gateway to enter the decentralized finance world. Vortex DeFi brings all the financial instruments of centralized finance such as lending, borrowing, asset management, liquidity in a simplified yet de-coupled totally in alignment with the principles of decentralized finance.
Vortex DeFi also focuses on giving its end-user control on the three key aspects Assets, Trust and Identity.
END-USER PROBLEMS
Too Many Products: In the current market scenario, there is a distinct lack of browser-based applications in the market that enable the end-user to manage and track their DeFi assets and portfolio through a unified platform. In other words, a user may need to visit an application for lending, while others for swapping crypto assets and again another one for providing liquidity. The gamut of products has created a perception that the entire DeFi space is too complicated for an average person leading to apprehension in using these products.
Over Dependency and Silo based approach: An end-user these days might be required to create multiple wallets to participate in the DeFi ecosystem and get benefited from the different DeFi instruments. Thus, in such a situation many times, the user might end-up getting his crypto assets locked due to the wallet policy of lock-in creation.
Complicated user interfaces and design: Financial instruments can be a bit tricky concept when it comes to bringing down to the blockchain. It gets further complicated when all the onus of acting lies in the hands of the end-user. Thus, DeFi instruments such as staking, providing liquidity to the pools, swapping the crypto assets can be a complicated and stressful process. In such a situation, the problem of ‘too many products’ gets further complicated by poor UI UX practices followed by the applications, which raises the psychological entry barrier for the beginners in the DeFi ecosystem.
VORTEX DEFI SOLUTION TO THE PROBLEMS
Single Pane of Glass (SPOC)- Unification: Initially conceptualized as a DeFi wallet, we quickly realized that Vortex DeFi has an enormous scope of scalability. That is why we quickly envisioned the product direction to become a SPOC. The concept of SPOC (Single Pane of Glass) applies aptly in the current scenario where there are too many products overwhelming the end-users in the DeFi ecosystem. In such a case, Vortex DeFi aims to provide a single pane of glass that offers an integrated experience to the end-user over the Vortex DeFi protocol. The core of Vortex DeFi relies on making the platform as a VORTEX, which pulls all the DeFi products under one roof such as NFT management (V-NFT), Fiat gateway (V-PAY), P2P cross-chain trade (V-SWAP), insurance cover (V-Insure), and most profitable yield (V-Yield). Simplifying the process of entering in DeFi eco-system remains the core philosophy, and that is why Vortex DeFi focuses on unifying and simplifying the experience.
