Santa Fe– The Decentralized Protocol for Yield Farming on the Citizen Finance Platform

in #citizenfinance8 months ago (edited)

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One of the ways to make money from the burgeoning Decentralized Finance (DeFi) industry is by staking your crypto assets. This is one core aspect of DeFi that many investors always want to use to their earning advantage.
With several platforms promising to offer decentralized financial services to the full, you are wondering if there will be one out there to offer all that you need.

Yes, there is a platform that can offer you all that you need as far as Decentralized Finance (DeFi) are concerned. That platform is Citizen Finance. In this article, I will show you some of the ways that this platform is going about the further decentralization of financial services in the cryptocurrency industry.

THE FOCUS IS ON YIELD FARMING

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Citizen Finance is not just a project that focuses on Decentralized Finance (DeFi). It is a broader platform that focuses on most aspects of DeFi. Via this approach, the platform has launched a dedicated Yield Farming protocol called Santa Fe.

Santa Fe is a decentralized staking and lending protocol that offers both income and passive income opportunities. You can stake your crypto assets to make extra money on the side. At the same time, you can utilize the protocol to borrow crypto assets.

OPERABLE VIA BINANCE SMART CHAIN
Decentralized Finance (DeFi) and Decentralized Applications (DApps) was popularized by the Ethereum blockchain. Today, many other blockchain networks are looking to offer more advanced DeFi services. One of such disruptive blockchains is the Binance Smart Chain (BSC).

Binance Smart Chain (BSC) was launched in September 2020 to be an innovative blockchain network that replaces the features offered by the Ethereum blockchain, as they pertain to Decentralized Finance (DeFi).

To that end, Citizen Finance uses the Binance Smart Chain (BSC) as the basis of its Yield Farming opportunities. This is because of the many opportunities that the Binance Smart Chain (BSC) will offer towards the actualization of the aims of this project – Citizen Finance.

Being operable on the Binance Smart Chain means that the Citizen Finance platform will derive many attributes from the Binance Smart Chain, some of which are:

  • Faster transactions and
  • Low network fees

FEATURES OF SANTA FE
As a decentralized staking and lending protocol on the Binance Smart Chain (BSC), Santa Fe offers more features than other competing Yield Farming protocols out there.

Some of the features of this decentralized staking and lending protocol are:

  • NFT Staking
    Staking Non-Fungible Tokens (NFTs) has never been this easier. Santa Fe offers several NFT Staking options, such as using your NFT as collateral for borrowing the LP token. Also, you can stake your LP token to earn the CIFI token. You can also do something similar by staking your Non-fungible Token (NFT) to earn the CIFI token.

  • Decentralized Lending
    Lending money in the form of crypto assets can now be done on a Peer-to-Peer (P2P) basis, thanks to the decentralized lending option provided by Citizen Finance.

That way, you can either borrow or lend crypto assets and pay interest or earn interest from the same.

FINAL WORDS
Further decentralization of the cryptocurrency financial system is at the core of what Citizen Finance does.
Decentralized Finance (DeFi) has more potentials than it appears to have. That is why a platform, such as Citizen Finance is taking the lead to introduce more features that will make DeFi irresistible to the average investor in the cryptocurrency space.

USEFUL LINKS:
WEBSITE : https://citizenfinance.io/
• DISCORD : https://discord.com/invite/xqNxf63sHx
• TWITTER : https://twitter.com/citizen_finance
• WHITEPAPER : https://docs.citizenfinance.io/
• TELEGRAM GROUP : https://t.me/ccbountyportals
• MEDIUM : https://medium.com/@citizen_finance
• REDDIT : https://www.reddit.com/u/citizenfinance
• LINKEDIN : https://linkedin.com/company/arvrseco

AUTHORS DETAILS
Bitcointalk Username: Gopalwu
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2759913;sa=summary

Address: 0xEc4EB0949403Dd1b864fbb16a87D2CC640839DC9

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