Decentralized Finance, also known as DeFi, is a revolutionary idea that has taken the financial market by storm. With the potential of changing how the financial industry operates, many people, businesses, and even large companies see it as the next big innovation in this constantly evolving market.
To understand how DeFi has made such an impact on the market, one simply has to look at how much has changed as a result of Crypto adoption. With Crypto adoption rates increasing every day, traditional currencies are being replaced by more intangible assets. Similarly, DeFi offers a purely blockchain based series of solutions that have proven to be efficient and safe ways for users to generate rewards on their own terms.
The Nimbus Platform is based on the Ethereum and Binance Smart Chain blockchains and uses DeFi ideas as part of its founding ideals. With some mainstream users still showing reluctance to embrace these new ideas, Nimbus is determined to prove that its platform is safe, valuable, and easy for new users to join and use to participate in the DeFi market.
Alex Lember, the CEO of Nimbus, sees the transition into DeFi as the culmination of years of people’s efforts to achieve complete financial independence. “We are now for the first time as a society starting to move away from the absolute need for an institution of any kind as part of a transaction,” said Alex. DeFi removes third party institutions from the equation and allows direct peer-to-peer transactions without a third party taking part and draining some of the transaction value through unwanted fees.
Since Nimbus is a DeFi centered company, it operates largely on the use of Smart Contracts. These electronic contracts are designed to release a transaction only when specific conditions have been met. Transparent by design, the two interacting parties are able to see the requirements for the release of assets without having to worry of potential loopholes that could be taken advantage of.
Smart Contracts are the key for the first layer of security for the Nimbus platform. Nimbus is determined to ensure that every part of a transaction whether it is peer-to-peer or business-to-business is transparent and secured from the outset. The series of specific steps needing to be completed secures the release of assets only when all steps have been fulfilled, which ties all parties to the agreement.
Nimbus also responds to hacking threats through a multifaceted approach. Nimbus offers a bounty for white hackers in the form of the bug bounty, which encourages people to probe the system for weaknesses and report them to the company.
Furthermore, Nimbus can also utilize the inherent advantages that come with being an entirely blockchain-based company. There are no physical assets to be stolen, or tangible currencies to be drained. There isn’t even a digital “vault” that could be hacked and emptied. The decentralized nature of the platform ensures that assets are spread out and protected.
The options that a user can leverage are varied and intuitive. One can stake their tokens in liquidity pools in order to gain value, or they can lend them out for increased value and protection via a Smart Contract. Nimbus is steadily innovating in this rapidly growing field and the list of dApps that is offered increases regularly. This constant development ensures that the Nimbus Platform stays at the top of DeFi innovation, with effort even being made to create DeFi solutions that apply to local, cultural, and religious laws.
A user can expect an environment that is designed so that they can explore at their own pace. The customer experience and its security are immensely important to Nimbus and are seen as the keys to a successful product. Nimbus is committed to ensuring that every transaction is stress free and easy to understand.
DeFi is a market that can be leveraged by an individual, and Nimbus seeks to be the first and only platform for people who are seeking to embark on their DeFi journey. Innotion is the key for success and as DeFi grows at an astonishing rate, so too do the companies that use them. Financial success and independence are within reach of anyone who chooses to take the first steps towards this new era.
