KRAGX Token | Promoting Democratization & Financial Inclusion In The Defi Industry
The team behind this project already understood some of the existing problems in the current DeFi sector. So, the rolling out of the KRAGX token is an excellent idea for the advancement of the broader DeFi ecosystem.
In this article, you will understand some of the unique and yet-to-be-tapped approaches that the KRAGX team will use to drive those adoptions.
Decentralized Cryptocurrency Wallet
Decentralized Applications (DApps) are one of the popular additions in the DeFi industry. Yet, there is room to do more in this burgeoning industry.
That is why KRAGX is leading the way with the introduction of a decentralized cryptocurrency wallet that also doubles as a DApp.
This DeFi Wallet has many unique features including the storage o a wide range of crypto-asset classes and maximum control over your data.
There are also additional benefits of using the KRAGX DeFi Wallet, including:
You can qualify for the cashback mechanism that is exclusive to users who swap up to 70 /cryptocurrency pairs anonymously.
The security of your crypto assets and that of your data is taken seriously by KRAGX. That informs the reason for the doubling down on the security of the wallet via the requirement of two keys to be used as authorization for every transaction.
In-House Crypto Purchase
You can now buy and invest in a range of cryptocurrency asset classes even if you are not using a cryptocurrency exchange.
KRAGX made this feature a part of the DeFi Wallet so you can buy any crypto-asset directly from the payment methods integrated into the wallet.
You can pay for and purchase different crypto assets using your local currencies, as well as globally-accepted currencies like Euro and the United States Dollar (USD).
Some of the crypto assets you can purchase via the wallet are Ripple (XRP), Bitcoin (BTC), and Ethereum (ETH).
Cryptocurrencies are volatile, and as such, you are particular about preserving your capital above the profits you want to make.
Via the Instant Swapping featured provided by the KRAGX DeFi Wallet, you can conveniently exchange one crypto asset for another. And if you are scared about the volatility of the market at the time, you can easily convert your crypto asset to a stablecoin like the United States Tether (USDT).
Yield Farming is an incentive mechanism popularized in the Decentralized Finance (DeFi) ecosystem.
It involves the disbursement of specific crypto tokens to token holders who participated in the broader KRAGX ecosystem.
In this case, the criteria for selecting participants deserving of the incentives includes;
• Participating in and providing liquidity in KRAGX liquidity pools.
• Staking and investing in crypto assets available on the platform.
• Issuing loans to borrowers who would later pay back the capital with interests.
The Decentralized Finance (DeFi) sector of the cryptocurrency industry is still in the teething stage. There is a lot more that can be done to improve the fortunes of the sector.
KRAGX is already taking the lead and setting a new record that other similar projects would look up to in the future.
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