World’s First Hybrid Synthetic Asset Protocol of Stocks – Movedefi Review
HONG KONG, CHINA / ACCESSWIRE / August 25, 2020 / Movedefi is a decentralized protocol issuing synthetic assets. Through the protocol, users can mint, hold and trade a variety of derivative products focusing on world stocks but also include fiat, equities and crypto currencies such as BTC. It allows users to go long and short direction for their investments on the platform. Movedefi also brings automated asset management to crypto, users can buy a token that represents a portfolio of assets managed according to that strategy.
Movedefi plays an important role to the decentralized finance system. Its synthetic asset, Demoves, are collateralized by Movedefi Network Token (MOVE) which helps build liquidity to Demoves and provide value. Movedefi is making advanced trading strategies and trading of world stocks with cryptocurrency accessible to everyone.
Through Movedefi, you can also buy binary options, which depend on the outcome of a “yes or no” proposition.
Like many DeFi ecosystems, users can earn incentives by providing liquidity and capital to Movedefi. You can check our rewards page to stay updated on the latest incentives.
Background
Cryptocurrency-collateralized synthetic currency models powered by smart contracts can have enormous implications in the traditional finance industry. Decentralization grants open-access to a global community of investors. Before products like Movedefi, Synthetix became available, only a select few institutional investors could access the global derivatives market.
With cryptocurrency synthetic Stocks platforms Movedefi opening the doors to derivatives for thousands of new investors, only time will tell what kind of impact a potential flood of new cryptocurrency-collateralized derivative contracts will have on the traditional financial landscape.
Movedefi Founded in Hong Kong and led by Adam Cole Jacobs who is very experienced in Fintech. Other team members include COO, Evan R. Kubes, CMO Josiah Crombie and CSO Daniel Bokun. Movedefi team now is focusing on Asia and European markets to provide their services and will further expand to other countries if needed.
“We look forward to the day when anyone with access to the internet and digital money can gain access to any financial market, creating a safe, permissionless marketplace for stock trading.” Said Adam Cole Jacobs – CEO of Movedefi.
“Movedefi will be an easy-to-use, professional, and trusted platform that is designed for worldwide stock traders.”
Why is Movedefi Important?
With Movedefi, crypto traders can access the derivatives and other traditional financial assets markets in a decentralized and trustless manner, exploiting the massive market opportunity which has a size of hundreds of trillions of dollars.
You can trade US stocks like Google or Apple with cryptocurrency at Movedfi without dealing with complicated process. Additionally, you can easily manage your portfolio in one ecosystem with cryptocurrency.
All in all, Movedefi provides cryptocurrency traders a space to access derivatives and traditional assets trading without dealing with a middle person. By providing liquidity and capital to Movedefi, anyone can earn a small fee from the huge potential market.
How Does it Work?
Movedefi Network consists of 2 assets which are MOVE (native token) and Demoves (the synthetic asset).
Users can block MOVE as collateral to mint Demoves such as mUSD. The number of Demoves mintable is in proportion to the value of MOVE blocked. Demoves are open to everyone in the world for different usage including investment, trading or even remittance.
The main Demove minted is the native stable coin, mUSD. It offers users the possibility to trade with any other Demoves on Movedefi exchange.
By collateralizing MOVE, stakers can earn rewards on the Movedefi exchanges based on the fees incurred. As Demoves are only traded on Movedefi exchange, the more Demoves are minted, the more rewards MOVE stakers can earn from the trading fees.
As of today, the minimum collateralization ratio for Demoves is 650%. Put it simply, if it drops below 650%, token holder will not be able to earn the fees until the ratio goes back above 650%. This is to ensure that all Demoves are over collateralized at a good ratio to maintain price stability of Demoves.
Also, there will be different applications adopting the Movedefi protocol to make minting and trading Demoves as convenient as possible.
Mintr
Users mint Demoves through the dApp Mintr. Mintr also supports the burning of Demoves, collateralization ratio management, rewards earning, unlocking tokens and more.
To connect to Mint, a web3 wallet is necessary. Users can use MetaMask, Ledger, Trezor, and even Coinbase wallet to connect to Mintr and perform the actions mentioned above.
Movedefi Exchange
To buy and sell Demoves, users can use a web3 wallet and perform the action at Move.Exchange.
Now, the fee for Demoves exchanges is 0.30% (excluding gas fee). The fee is dynamic depend on the network usage, and is distributed to MOVE holders who are providing liquidity to Demoves.
MOVE Token
Minting Demoves require staking MOVE token as collateral. By staking MOVE into Movedefi, users can earn the fees generated from the transactions at Movedefi Exchange. The current fee is 0.30% for trades of Demoves.
To reclaim the MOVE staked, users must repay the Demoves minted via the burning system.
Conclusion
Movedefi offers a decentralized platform for DeFi users to access the derivatives market with a variety of advanced trading strategies, exploiting the massive market opportunity which has a size of hundreds of trillions of dollars.
For those of you interested Movedefi, you can follow them on Twitter (@movedefi) and visit their website https://www.movedefi.com/.
contact person:
Daniel Wong
+852 9790 8900
admin@movedefi.com
SOURCE: Movedefi
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