DEFI MARKET OPPORTUNITIES, CHALLENGES AND THE 123SWAP SOLUTION
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Decentralized Finance (DeFi) is a financial model that doesn’t need an intermediary or third-party before the transactions can be processed. Today, there are several DeFi projects and platforms, each offering a specific feature or solution. The proliferation of these platforms proves that the DeFi ecosystem is continually growing.
At the same time, the DeFi ecosystem may suffer stunted growth, no thanks to the myriad of challenges currently existing in the ecosystem. Top on the list is the inability of many DeFi protocols to coordinate and pool data from multiple sources. The limited supply of liquidity is also another challenge that hasn’t been overcome.
INTRODUCING 123SWAP
123swap is a decentralized protocol that can make cryptocurrency transactions more scalable via the sustainability of liquidity, the speedy confirmation of transactions and the wide range of collaborating blockchain networks.
I have explained in detail below, some of the most important features of the 123swap DeFi protocol:
1- RESOLUTION OF LIQUIDITY ISSUES
Liquidity is one of the most important elements for scaling cryptocurrency transactions. Since some DeFi protocols lack this liquidity, 123swap team thought it wise to source additional liquidities.
The primary mechanism backing this move is the integration of a Decentralized Exchange (DEX) Liquidity Oracle – DLO. The DLO is designed to bolster DeFi transactions by identifying some of the underlying factors for declining liquidity.
2- AN ARRAY OF TRADING TOOLS
123swap uses a different kind of approach to Decentralized Finance (DeFi) transactions. Unlike some of the other DeFi protocols that offer limited trading tools; 123swap offers more.
Through 123swap, you would be able to have access to multiple trading pairs. This is a strong competitive factor, especially when you consider that some of the existing DeFi protocols do not offer much.
I would like to mention that most of the trading tools or functionalities supported on 123swap are automated, as this is one of the major ways to simplify DeFi traders for the users. You can use the Limit Order to place an order to buy a cryptocurrency at a specific price. The Stop-limit Order functionality is there to help you exit your current position in a cryptocurrency, especially when the market becomes bearish or the trend reverses.
3- POWERED BY THE COMMUNITY
The founders of 123swap do not have the absolute power to make changes or propose updates to the protocol. Instead, the community does. 123swap is a community-driven project, and as such, a majority of the decision-making processes is left to the discretion of the community members.
4- UNIFICATION OF CRYPTOCURRENCY LENDING PROTOCOLS
123swap commences the fusion or interoperability of cryptocurrency trading platforms by unifying these platforms. The focus is mostly on cryptocurrency lending protocols, because the idea is to leverage the infrastructure of those protocols to make cryptocurrency borrowing and lending more convenient.
Also, the price or value of the crypto tokens/coins can be preserved or prevented from fluctuating via the strategic processing of multiple transactions at once.
WRAPPING UP
123swap understands the opportunities and challenges in the DeFi market. For this reason, it has been built to create multiple channels for exploring DeFi further, while opening up the protocol for adoptions by the users and interoperability with other DeFi protocols.
If handled rightly, this could be a major pathway to repositioning the Decentralized Finance (DeFi) ecosystem for good.
USEFUL LINKS;
Website : https://123swap.finance/
Whitepaper : https://docs.123swap.finance/123-token-sale/123swap-token-allocation
Twitter : https://twitter.com/123swapfinance
Telegram : https://t.me/my123swap_chat
Linkedin : https://www.linkedin.com/company/123swap/
Reddit : https://www.reddit.com/r/123swap/
Medium : https://medium.com/@123swap
Instagram : https://www.instagram.com/123swapfinance/
AUTHORS DETAILS
Bitcointalk username- Kakal
Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=2767315;sa=summary
Wallet: 0x09c09F509f1D366257f91bFfEb00174c7643CD77