Is Theoz Tech Defi smart contract platform is as smart as we think?
The fastest growing sector within the global blockchain ecosystem is decentralized finance and yet it has not made use of its full potential. The sector gained popularity from mid-2020. Being run on smart contracts makes it more reliable, safe, and cost-effective.
Theoz Tech is a decentralized finance smart contract platform, built on the Binance smart contract technology. The platform aims to revolutionize the world of digital identity and provide users with a variety of DeFi enabled tools and solutions. An open-source and non-custodial liquidity protocol for earning interest on depositing and borrowing assets.
However, the ups and downs we see led to the rise of the question — Are smart contract platforms as smart as they seem to be?
Before diving into it, let’s know what a smart contract is
In the decentralized world, a smart contract is an automatic and pre-determined agreement that gets executed when the stated conditions are met. It removes the interference of intermediaries that are required to facilitate the traditional contracts and transactions while upholding the transparency and visibility of the blockchain.
The Theoz tech uses smart contracts to facilitate all kinds of use cases such as stable coins, margin trading, general lending/borrowing, etc. It brings modern technological capabilities into the fold:
With Theoz tech, you are able to get money for your immediate needs and save your crypto position, all at the same time.
How these smart contracts are used in DeFi?
Smart contracts provide a foundation for decentralized finance by eliminating all the intermediaries through the code as people oppose to first connecting with the institutions that can then connect to something else. Instead, it is based on open protocols and decentralized apps (dapps).
Is it the future of finance?
Theoz tech allows people on the internet to earn more money as similar to how bankers do by earning fees on their financial services.
It provides liquidity where investors “stake” their digital assets, only they are lending digital currencies to apps rather than to people or companies.
You can lend cryptocurrencies to a protocol in exchange for interest and/or rewards. Similarly, you can borrow digital assets from protocols to make a trade.
Most DeFi protocols use over-collateralization which means the user must put up more than the amount he wants to borrow. So, if the asset’s value descends, the protocol may take your collateral/security to avoid losses.
Many advanced DeFi users utilize an investment strategy known as “yield farming”, a risky practice that involves lending or staking cryptocurrency tokens to gain rewards in the form of interest. It is like as earning interest from a bank account, only you’re technically lending money to the bank.
Note — The Theoz decentralized finance platform will launch its web 3 ecosystem this year and distribute 70% of its native Theoz token supply to an array of worldwide community participants.
Get connected to the emerging platform today and visit our website at (https://theoztech.com/ )
Also, follow all the social media channels of the platform to get yourself updated instantly:
Facebook — https://www.facebook.com/TheozToken
Twitter — https://twitter.com/theoz_tech
Medium — https://medium.com/@theoztech
Reddit — https://www.reddit.com/user/TheozTech
Telegram — https://t.me/theosofficial
Telegram official channel — https://t.me/theoschannel