Cryptocurrencies – FinanceBrokerage
Amy Token’s ICO starts today. What about WELDING?
Amy Finance is an LP-friendly, Layer 2 based credit protocol. It’s also a fair launch project with no advance sales or private investors. This project is community run and helps users achieve safe and high returns.
Customers can include assets in the assembly pool. You will receive the interest generated from the credit and leverage trading without any losses. In addition, customers can borrow assets from the pool and perform margin trading in one app. According to the team, the transaction fee will be extremely low thanks to the native L2 design. Amy Finance’s design can easily increase revenue and maintain the same level of fund security as the classic loan protocols.
The company launches the ICO of its native token today. The sale ends on September 22, 2021. AMY is an ERC20 token. The price will be 0.00000667 ETH during the initial coin offering. Amy Finance plans to raise 15,000,000 during the Initial Coin Offering. The total supply of tokens is 1,000,000,000.
The team designed this platform to reduce user risk and improve the user experience. This goal is to be achieved by developing a better lending protocol that will be provided on Layer 2.
What solutions does this platform offer?
According to the Amy Finance team, all Defi players have a capital efficiency issue. So far, very few teams have managed to solve it through the underlying design. However, the assembly pool offers a solution – a pool for multiple applications. This allows lenders to enjoy diversified benefits while having very little risk of arbitrage. While the various mainstream leveraged lending protocols on the market are limited by temporary losses, users can increase the rate of capital utilization without taking advantage of the Amy ecosystem.
Additionally, there have been more and more problems with using flash loans lately. Most of the time it is due to poor protocol design and / or incorrect risk assessment. The team believes that improving businesses should not achieve capital utilization at the expense of capital security. In the defi room, asset prices fluctuate within seconds. In this way, users with different risk preferences can protect each other against risks and build a balanced ecosystem.
What is Weld.Money and how does it work?
Weld.Money is a cryptocurrency card that enables easy connection of crypto wallets. Users can pay for all daily expenses with the WELD card. It’s as easy as using a POS terminal.
The company is also issuing its native utility token. The Initial Coin Offering starts on September 22nd, 2021. WELD is a BEP-20 token. The price is $ 0.075 per WELD during the ICO sale. The team aims to raise 1,600,000 during the trade. The total supply of tokens is 250,000,000, but not all of them will be available in the first phase.
Defi Space offers many advantages, but traditional fiat payment systems are built on a legacy infrastructure. The latter makes it difficult to get started with new, innovative forms of payment such as cryptos or other digital currencies.
Traditional fiat payment systems are highly centralized and controlled by strict rules. They are also often costly for the participants. They also have limited flexibility. Despite these drawbacks, most people use them because there is no better alternative for them.
However, that cannot be true for long. Several countries decided to try more modern fiat payment solutions and almost replaced the traditional fiat payment system with them. At the same time, blockchain technology is evolving. The WELD team believes that existing decentralized cryptocurrency systems and blockchains are not yet efficient or adapted enough to offer a good alternative to traditional fiat networks. As we move forward with each step, the main problem remains – crypto wallet holders in the CIS have no easy way to quickly and easily pay for conventional goods or services with digital coins.
What obstacles do some people face when using cryptos and how will WELD solve these problems?
There are several obstacles preventing the use of cryptos as we are using fiat money. For example, cryptocurrency is not regulated in the CIS countries. Hence, nobody can legally use it. As a result, merchants cannot legally accept payments. Additionally, in most jurisdictions, the conversion of crypto to fiat by merchants and buyers involves calculating income taxes and sales tax on the total amount of the transaction. This creates a negative margin for most product groups.
Despite its growing popularity, many people still have a haze of knowledge about cryptos that often local merchants do not consider them a payment option. Cryptos are also very volatile, which makes financial and tax accounting and other transactions difficult.
Unfortunately, CIS usually associates crypto with something gray and illegal. This is not true, but withdrawing funds to a bank card is mostly covered by AML (income with subsequent taxation). CIS residents also get into trouble if they pass the KYC process of opening an account in jurisdictions where crypto is legal.
So far, only a few products offer the aggregation of accounts, crypto wallets and cards as well as a seamless payment process from traditional merchants with digital coins. And don’t forget about the crypto transfer fees, which can easily exceed the purchase price by 30 times.
The WELD team has set itself the goal of solving all of these obstacles. She wants to integrate cryptos into people’s everyday lives. In addition, the team believes that decentralization is an important part of building a better society for all.
The company is building a network of cryptocurrency projects to achieve its goals. At the same time, it focuses on developing merchants’ ability to accept crypto as a means of payment. WELD’s mission is to connect the crypto world with traditional finance.
What about the WELD mobile app and its other functions?
WELD has developed a mobile application that helps its customers meet the daily needs of the crypto community. With this app, users can easily pay for conventional goods and services. This allows them to avoid the current complexity of exchanges.
The company is working to create a seamless payment solution for regular daily expenses. It also aims to offer minimal commissions that are supported by every crypto wallet. Users must register on the platform in order to use the WELD app and services as well as other internal WELD procedures. Then you can link your crypto wallet to the WELD app account and start paying.
The WELD application offers many advantages, including seamless integration with ApplePay and GooglePay; tax-free crypto transactions on the go; secure and transparent financial flow; and transparent prices with no hidden fees. In addition, users can manage everything (fiat cards / accounts and cryptocurrency wallets) with one application. You even have the option to add any wallet from a third party or a crypto exchange. And this app is very safe so customers don’t have to worry about losing their money.
WELD token is another benefit that this platform offers. Token holders can use it to pay commissions and thus reduce transaction costs. You can also use WELD tokens to increase the daily and monthly limits or receive various rewards, including the Premium Card. The company pays cashback for every purchase that is paid for with WELD tokens.
This company has interesting ideas and a well-developed roadmap. Some analysts believe it has strong potential.
The ICO of the Post-Amy token starts today. What about WELDING? first appeared on FinanceBrokerage.