Smarts Finance — is a New Frontier for DeFi Products and Services
By: Crypto Steven
Tags: Blog, Cryptocurrency, Defi, Blockchain

Smarts Finance is an ecosystem of decentralized financial services created on the basis of flexible technologies with collective management and control of users. The actions and interactions of users in the system are mechanized using the virtual management token of its own platform-SMAT to monitor the functions and interaction of the ecosystem.

An ERC-20 compliant SMAT token is used in economic incentives, governance, and their respective decision-making and influence actions. That is, SMAT holders will be able to make changes to Protocol management by proposing and voting on management proposals. However, to be eligible to vote on the proposal, the account must have a SMAT management token for at least 14 days. In addition, to vote or create a proposal, the account must have weight in the voting it manages. This weight is generated in the form of sSMAT (SMAT strength), which is the result of the staking and locking function of the SMAT token.

SMAT holders will be able to:

● Change the market or service interest rate.

● Offer a listing of new tokens.

● Redefine the structure of rewards and their distribution.

● Assign new administrators or candidates to a multi-signature wallet.

● To offer the terms of the contract.

SMAT is a tradable token that will be available for trading on decentralized and centralized exchanges. Smarts suggests using blockchain to provide an Autonomous, decentralized, fair, secure and flexible platform on which various DeFi-based services can be easily accessed. That is, in essence, Smarts. Finance is a community-oriented management system with a new and open approach to DeFi services and products. It is an innovative, trust-free, decentralized DeFi platform built on the Ethereum blockchain with a wide range of applications.

Smarts products include, DeFi services such as:

● Staking (users of the platform will be able to send their SMAT tokens to staking and passively earn on it, using the advantages of savings under Smarts contracts that are not related to storage);

● Decentralized lending, which allows users of the platform to receive passive income from cryptocurrency assets, as well as save on Commission fees for transfers, loans and deposits. Lenders will earn passive income when the pool is provided with liquidity by storing their assets in the token market. Borrowers will be able to borrow on the money market after their assets are secured. This lending model will encourage both suppliers and borrowers.

● Farming, mining and management, with the aim of continuously developing new products and opportunities that will benefit.

By becoming a liquidity provider, users receive a double reward in the form of commissions and SMAT tokens for their contribution. A distributed gas fee will be able to minimize transaction costs due to the function of pooling liquidity. The first available pool will be the SMAT / ETH pool. Additional markets may include ETH / USDT, ETH / DAI, DAI / USD, or ETH / WBTC, depending on the combination that the SMAT user community agrees to. The main task of the platform is to replace the traditional technologies of the current financial system with an open source Protocol.

The main principles of the platform are transparency, trust and openness. The multi-signature feature of the main wallet eliminates the need for full trust. A multi-signature wallet will be responsible for all contract deployments, including those that will handle tokenomics and products offered by this platform. And to make it easier for users to access all available DeFi-based services in the Smarts Protocol, Smarts. Finance plans to launch a unique product called Smarts Web App, which will allow users to interact with all DeFi-based services directly from a single page with just one click.

You can find more information about the project:

Website : https://smarts.finance/

Whitepaper: https://smarts.finance/assets/documents/WhitePaper.pdf

Twitter : https://twitter.com/Smarts_finance

Telegram : https://t.me/smartsfinance

Discord : https://discord.com/invite/rertF5a

Medium : https://medium.com/@smartsfinance

Youtube : http://www.youtube.com/channel/UCp58Zt6o88nj9jH8tKtvzSw

Author:

Bitcointalk Username: cryptostevenyoun

Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=2769237

Eth wallet address: 0xd9232Bd061F5d34F6F3C50CEe3B93459f2F67bA0