A Preface for those new to DeFi
Decentralized finance (DeFi) is an application of Blockchain technology that promises transparency in money markets. DeFi platforms intend to build an alternative financial system for offering & receiving loans, asset management, trading & exchanging currencies, making payments, etc. With no involvements of banks, brokers, or trusted third parties, or governments. DeFi eliminated the middlemen.
DeFi has grown exponentially in 2020, with the total value locked (TVL) in DeFi protocols now exceeding $12 bn+. In Q2, 2020 DeFi became the third-largest category within Ethereum, accounting for 24% of the total activity. This was the result of only 4000 active wallets.
The fact that DeFi is a revolution is well established. However, there isn’t any exclusive DeFi project catering to all services seamlessly. The barriers to entry are high with a steep learning curve, which limits the adoption of DeFi by retail consumers. The global organized lending market is nearly $6.8 trillion. For DeFi to thrive, seamless integration of offerings to retail markets is needed.
Cashaa announces Cashfi – Defi for the masses
Cashaa was launched in 2018 with a vision to provide banking solutions to Crypto Businesses and Individuals. With a goal to provide one account for both old and new types of money, offering a comprehensive DeFi solution is another step to achieving this. After successfully running the primary function of a bank, Cashaa is uniquely positioned to be able to provide the bridge between decentralized and centralized finance.
Cashaa has partnered with Apple, Nike, Paytm, Peter England, Macy’s, Flipkart, and 2000+ other merchant partners to offer high discount (to the extent of 0%) consumer loans. Cashaa facilitates on-ramp and off-ramp solutions which enables it to provide these services directly via bank transfers.
Cashaa users will be able to take advantage of the growing DeFi ecosystem. Being present in the industry for a long time, Cashaa very well understands the nuances of the crypto markets like volatility. To safeguard its users from losing their collateral, Cashaa will soon offer collateral insurance services.
Empowering CAS Tokens
CAS is the utility token used to access Bank accounts and Fiat-Crypto-Fiat ramping services provided by Cashaa. The demand for these services will increase dramatically with billions of dollars being moved on and off the DeFi ecosystem. With thousands of Individuals & Businesses ready to access Cashaa’s accounts and corresponding services an exponential surge in the demand of CAS tokens will occur.
Cashaa will benefit from the hundreds of new people joining the DeFi revolution every day that do not want to deal with the sophisticated and rather technical process of operating DeFi protocols, including swaps and liquidity pools. We are creating a ‘super simple interface to DeFi’. Most services will work with just one click on your phone!
Cashaa aims to become the obvious choice for anyone starting with DeFi.
Cashfi will launch in Q2, 2021, with more details coming soon.