DeFi
OPENDEFI BY OROPOCKET
TRADITIONAL ASSETS ON BLOCKCHAIN
Crypto enthusiasts love the benefits that blockchain offers, but crave for real world assets. OpenDeFi incorporates the real world assets to blockchains. This will improve the adoptability of blockchain as more people would see the need to get involved since real world assets can now be seen on blockchains. Liquidity will be heightened by this innovation.
OroPocket: What is it?
Have you taken a look at the conventional banking ecosystem? It is a pain in the neck, plagued with a lot of maladies. Clients of conventional banks earn little or no profit from using them, while a large percent of the profits made are consumed by the bank. They give little or no interest rates to those that deposit their funds with the banks, while the banks task borrowers a large interest rate.
This is why the coming of OroPocket is good news to crypto enthusiasts.
OroPockets allows users to store their funds in digital assets that appreciate instead of opting for bank deposits, which may deplete in amount, based on the numerous charges that the bank takes out.
OroPocket has incredible features that users can bask in, and we will look at them.
Asset-backed debit card
OroPocket comes with a debit card that holders can use to purchase items. This has made it an awesome medium of exchange, which is common with bank deposits. One reason people have been skeptical about cryptos is how liquid it is. If money is stored in the bank, a debit card is usually given. The owner of the card can carry out transactions effortlessly. This is the same case with the asset-backed debit card that OroPocket offers.
Easy transfer:
OroPocket acts as a crypto bank, thereby offering the features of the traditional banking system while taking care of the drawbacks that are seen in the conventional banking system.
A user can easily transfer assets and funds to anyone they want, not minding if the recipient is thousands of miles away.
Have access to instant loans
One of the features that users of OroPocket enjoy is the fact that they can access instant loans whenever they want it. They can have access to loans without paying the astronomical interest rates that are common in traditional banks. Apart from that, the lenders take a huge part of the interest rate, which is unseen in traditional banks.
Earn yield on your assets
The truth remains that the traditional banking system favors the banks a lot more than the clients. This is disheartening. OroPocket intends to take care of this, as holders of these assets can earn massive yield from them.
This ecosystem is dedicated to offering its users a seamless banking experience built on assets. Every asset on this platform is insured, according to the developers, and they are backed by physical assets. The auditing of these assets is done by third parties regularly.
Conclusion
The traditional banking system is centralized, meaning that it is easy for censorship to occur. It is not news that banks regularly freeze accounts of their users for one reason or the other. This is why Open DeFi is important.
With the coming of this innovation, users can have access real-world asset classes with transparency in mind. Apart from making money from lending digital assets, users can now earn from staking.
Originally published at https://www.publish0x.com.
