People can get the most out of their crypto assets by using the decentralized finance field. DeFiner is one of the few sites that best exemplifies this approach. Users of this peer-to-peer network can lend, borrow, and earn interest with their cryptocurrencies without having to serve as custodians.
DeFiner contains all of the required components for a good DeFi recipe. It is managed by crypto experts and project managers. It has already been audited by reputable business firms, and many major crypto investors are behind it to help it rise to the top of the DeFi food chain.
DeFiner
DeFiner is a decentralized finance network that allows users to lend, borrow, and acquire digital assets with the greatest amount of versatility possible.
Several DeFi protocols exist to serve as networks for crypto deposits, loans, and payments. DeFiner, on the other hand, seeks to eliminate friction and high transaction costs in order to facilitate quick and simple crypto transactions on top of immutable blockchain technology.
DeFiner eliminates the need for third-party participants by allowing users to choose the rates and terms of transactions. The platform uses blockchain to monitor any asset movement across the network, providing users with a high degree of protection.
The majority of other lending sites serve as a custodian for all of the transactions they host. DeFiner executes all lending and borrowing operations on the network using smart contracts.
DeFiner also has its own native token, FIN, which it uses to pay out interest to participants and as part of the platform's governance structure. Furthermore, the network's entire income is distributed to the participants in a dynamic allocation mechanism.
Who is the brains behind DeFiner?
DeFiner is the brainchild of Jason Wu, a blockchain programmer with extensive project management and entrepreneurship experience.
They combined his expertise in blockchain technology and finance with Oussama El-creativity Hilali's and skills as a project manager with a knack for cutting-edge technology.
DeFiner was founded by the two in 2018 in Minneapolis, Minnesota, with the help of a team of blockchain developers and crypto asset traders.
Alphabit, a well-known supporter of crypto ventures and startups, has invested in DeFiner.
How it works
DeFiner is a non-custodial, decentralized network where cryptocurrency owners can lend or borrow assets and gain interest on their digital assets.
Users of DeFiner are encouraged to "work smarter, not harder." Participants in the network have complete control over the development and execution of loan contracts in this regard. The DeFiner team has no say in whether or not the contracts are approved or rejected by the other members.
Even undoing, modifying, or canceling loan agreements isn't a problem for DeFiner. To help impenetrable smart contracts for crypto loans, the team uses immutable blockchain technology.
The platform merely provides the infrastructure and ensures that it is operational so that participants can build and execute smart contracts for loans. The platform then publishes them on networks such as Ethereum.
DeFiner allows its users to configure any condition in a lending smart contract, including collaterals, currencies, interest rates, and terms for all parties involved.
Users will deposit money and gain between 6% and 12% interest on their savings. They also have the option to borrow against their savings and can withdraw at any time with no fixed terms.
DeFiner off-chain loan agreement matching
Users may access information, communication channels, laws, and regulations through DeFiner's pre-agreement service.
This feature, also known as DeFiner Layer 2 Off-Chain Loan Agreement Matching, establishes direct links between participants to assist them in negotiating and reaching loan agreements without the involvement of third parties.
On the network, Layer 2 balances the disparities between bid and demand. It has a modular design that makes it simple to integrate with off-chain entities while still delivering full performance at a low cost.
DeFiner on-chain loan agreement settlement
DeFiner deploys all of the loans that the participants have agreed to on the blockchain, which is layer 1 of the network. This layer is in charge of the protection of the entire DeFiner ecosystem, ensuring that smart contracts meet their predetermined requirements correctly before being executed.
DeFiner token (FIN)
DeFiner introduced FIN in September 2020, a completely audited ERC-20 Ethereum-based cryptographic token that addresses all aspects of the DeFiner ecosystem.
DeFiner held a private sale on CoinList to make the token accessible to its users. The event ended on September 21st, 2020, with a profit of $1,080,000 from 42 million FIN tokens. Participants in DeFiner could buy tokens in return for putting money into the DeFiner savings pool.
FIN is used in three ways:
Profits are distributed.
Right to vote
Evidence of a premium
At this time, not all of the applications for these purposes are eligible. DeFiner, on the other hand, plans to give its users more leverage over the platform's growth in the near future.
FIN was trading at $0.3368 at the time of publication. It had a market capitalization of $1,234,000, and out of a total supply of 168 million tokens, over 3,6 million were in circulation.
Conclusion
DeFiner has successfully carved out a niche for itself in the DeFi lending sector. Its bold approach to democracy on the blockchain rewards users with a previously unimagined level of liberty. Participants can make loans without worrying about third parties prying into their smart contracts.
DeFiner may be off to a slow start right now, but it has a bright future ahead of it. It has the help of a seasoned team as well as audits from industry experts. It won't be long before DeFiner is ranked among the best decentralized finance protocols.
