Plasmafinance is an all in one DEX aggregator which incorporates a dashboard providing a simplified entry level approach for newcomers and simultaneously providing superior options for more experienced DEFI traders.
I am yet to get into DEFI myself and haven't as yet wet my feet in liquidity mining or staking. Until now I hadn't found an easy entry point, and put off by all the jargon and complexity around using multiple systems and wallets, but I stumbled across Coinmarketcap earn and learn and discovered their latest lesson series on Plasmafinance and PPAY tokens (as an aside, the campaign went live on 2nd June and enables one to earn $5 PPAY tokens if you progress through the 4 short lessons and answer the quizz questions at the end. Link at end of this article).
Suffice it to say, Plasmafinance and it's native DEX Plasmaswap look very interesting and attractive for both newbie and experienced traders alike.
Plasmafinance is certainly looking to shake things up in DEFI! I have pulled together some of the more salient points in this article but should you wish to delve deeper, I can highly recommend the 4 lessons in Coinmarketcap as a great starting point.
Plasmafinance has their own DEX called Plasmaswap but also connects to the ever popular Uniswap and Sushiswap amongst others. By only connecting to other DEXs, they protect the user from falling victim to scam sites.
They aggregate the most profitable fully vetted DEFI opportunities under one roof, in one app, providing an enhanced experience with greater transparency and security and providing complete token data on the various options available. You can also buy your native crypto directly on the DEX in FIAT using a bank card or account and then pop it straight into a liquidity mining pool or stake it to earn passive income.
Their data sets provide the user with a broad range of information from all networks and protocols, allowing the user to access all information in one place and choose the best DEFI option available at the time.
Plasmaswap uses a tool called Flash rebalancer which has allowed them to rationalise the number of steps required in liquidity swaps from a minimum of 4 to only 1, which has drastically reduced gas fees. Liquidity migration just got easier, quicker and much cheaper!
Plasmaswap has Limit Order Functionality which allows the user to:
Set profit order
Set Stop loss order
Set Future orders
These orders will always fill 100% securing total output value in one transaction, so DEFI investors no longer need to be online all the time to get the best deals.
You simply set the rate at which you want to swap and place it as an advance order on a smart contract.
An example of this from Plasmaswap is seen below.
Plasmaswap also has a number of exciting innovations in the pipeline primarily aimed at Gas Optimisation.
They will be launching Plasma Gas Station which will allow users to pay gas fees with all major stable coins or Plasmaswap's own native token, PPAY, without needing to remain reliant on ETH.
They will also be introducing Hyperloop (a layer 2 solution integrated into Plasmaswap) which will act as a bridge between blockchains allowing for near instantaneous defi transactions at zero cost. Hyperloop will additionally facilitate a number of integrations and interoperability between DAPPS.
In my humble opinion, this really does finally give the little guy, the average Joe or Josephine, a more secure and sensible entry level point to DEFI, liquidity mining and staking and provides a much improved package to more serious veteran traders. A big part of their ethos is to make DEFI something that is accessible to all and I honestly believe that once everything is in place, they will be leading the way. They appear to be on the right path to deconstructing and demystifying a highly complex and convoluted arena of investment options and opportunities for the masses and will be delivering a platform that is easy on the eye, allows for complex tools that operate in the background, invisible to the user, yet of invaluable use in terms of interoperability, data provision, easy management of multiple wallets, and simplified processes around liquidity management.
Hope you enjoyed this article and found it useful.
Coinmarketcap earn and learn link:
https://coinmarketcap.com/earn/videos/plasmafinance-experience-defi-thats-easy-convenient-and-safe
