Mahe, Seychelles - Any emerging industry goes through a stage of experimentation and fragmentation. DeFi is no exception. But for users, the bewildering variety of protocols and dApps can be frustrating. That's exactly the issue that DeFiPie solves.
The idea behind DeFiPie is to bring different DeFi services together in one place, under the umbrella of one user-friendly UX. Ultimately, what attracts most people in DeFi is the possibility to earn a good ROI on their crypto, outside of the control of banks. But it can be hard to choose between algorithmic lending, P2P lending, liquidity pools, and staking (some don't consider staking a part of DeFi, but we do).
At the same time, we've seen the success of traditional financial apps that use the 'all-in-one' approach. The best example is Revolut, which lets them make payments, save and earn interest, buy stocks and commodities, gain crypto exposure etc. That's what DeFi needs, too — a super app where users can seamlessly switch between different services and move their money, say, from a liquidity pool and into the P2P loan market.
It is an ambitious vision, but all the required elements are already out there. What remains is to integrate them into one dApp — essentially the first DeFi super app.
Here's a short summary of the key elements that make up DeFiPie:
Native PIE token. Users can farm PIE by locking up value on DeFiPie, so it's yet another passive income tool. But people also need PIE to access the advanced features, such as custom pools and P2P lending.
Lending: automated + P2P marketplace. Users can choose between lending their crypto at the algorithmically determined interest rate or publish their loan offer on the marketplace at their own terms. The second option is riskier, but users can earn a higher rate.
Liquidity pools. The liquidity goes towards decentralized trading, and pool members earn a share in the trading fees.
User-created pools. DeFiPie users can start their own lending and liquidity pools, deciding on the interest rates, collateral etc.
PoS staking. People will be able to stake Tezos, Cosmos, Celo, Kusama, Polkadot and other popular PoS coins that have strong use cases.
As people can see, the strength of DeFiPie is not in inventing something completely new, but rather in integrating the best practices in DeFi to create a 360-degree product. Why should it take 20 steps to move their money from a P2P lending market into a liquidity pool when it can take just a few taps?
In the table below DeFiPie summarize the differences between DeFiPie and the most popular DeFi protocols.
In DeFiPie's upcoming posts, they will talk more about the current state of DeFi and what a DeFi super app should look like. Meanwhile, join our official Telegram chat to learn more about DeFiPie.
What do people think about the fragmentation in the DeFi space? Is it a problem? Share the thoughts in the comments.
Company Name: DeFiPie LTD.
Contact Person: Aleksei Kopievskii, CEO
Company E-mail: firstname.lastname@example.org