Easy Earning = DeFi For Everyone!
iBG Finance a Decentralized Finance (DeFi) wealth management platform and sister-concern of ICOA Inc, has announced the tools it has developed to enable ‘crypto newbies’ with simple, educational and safe access to the burgeoning world of decentralised finance (DeFi).
Indeed, there is strong opinion – and plenty of supporting research – that the core use case for crypto is DeF. Whilst DeFi doesn’t have a formal definition, it typically includes the use of the blockchain to borrow and lend using auction markets; to trade in unconventional derivatives; to trade one set of crypto assets against another; and for unusual forms of insurance.
iBG Finance recognizes the incredible opportunity that DeFi has to offer, not only to the end users of its products, but also to everyday people keen to get involved in investing in crypto.
Indeed, DeFi is undoubtedly a market not to ignore; it had a size of $170 billion dollars in November 2021, and has now surpassed the level of 106 billion as of February 2022, and its growth in the last year has been 47%.
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A survey carried out by Weiss Ratings earlier this year surprisingly found that high 62% of retail investors said they knew what DeFi was. Yet unfortunately, a full 92.5% reported that they didn’t know how to go about getting the high yields that DeFi has to offer, and 74% simply ‘didn’t know where to start’ in the DeFi investing – even though they wanted to.
Comments Sam Chng, CEO of iBG Finance:
“DeFi allows wealth management to trickle down to individuals, empowering them to emulate what financial institutions do to enjoy healthy earnings. In ensuring immutability and removing intermediaries, anyone can lend, trade or borrow. Anyone can enjoy margin trading options and long-term and short-term investors can lend assets to earn higher interest rates.
“However, despite the accessibility and opportunity that DeFi provides for everyday consumers, there are barriers to entry in the form of unnecessarily complicated processes.
“That’s where we come in. iBG Finance wants to remove these pain points by presenting these innovative earning opportunities wrapped in simplicity to users who wish to enjoy the immense benefits but struggle to understand what can also be intimidating interfaces.”
What are the pain points?
With DeFi’s rich and diverse opportunities however, there can be difficulties when investing funds; even for advanced crypto users. There are innumerable requirements to participate in and keep tabs on a myriad of projects.
- A single earning’s pool for example can require as many as ten complicated steps across multiple chains.
- The user will start with your main token and have to swap this to another token on a different chain. Then, they might need to add chains they have never heard of.
- They will need tokens alien to the average consumer for gas fees before getting onto bridges that send them to the final operating token which they might still need to pair or wrap.
- This is a roadblock to the majority of people and it reduces adoption of services that would otherwise significantly help them.
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iBG’s Solution to Easy DeFi
iBG’s Wealth Management portal’s streamlined approach reduces the investment process to three easy steps: Subscribe, Select, and Earn!
iBG’s simplified gateway to DeFi begins by ensuring users remain in full control of their assets. Everyone takes a membership position in iBG based on the amount they feel they can begin investing with. It starts from as low as US$10. Everything is consolidated in a single portal with at least 100 different earning and lending protocols to select from.
iBG has taken out the legwork of locating the right investment protocol. It has put in the effort of researching each protocol and verifying their smart contract’s legitimacy and audit.
iBG conducts risk management research. All this takes away the tediousness of personally researching the thousands of available pools and protocols and, ultimately, allowing the user to use a single portal rather than trying to remember where they have left your funds to grow. 10 pools literally require the user to keep 10 tabs open at all times to know how they are performing.
The most important development iBG has introduced to investing across multiple chains and pools however is the ability for users to use just Ethereum or USDT if they are investing via the Ethereum chain and to use just BNB or USDC if they are using the BSC chain. There will be no need to carry in their wallet hundreds of other tokens across alternative chains.
The ease of use will be unparalleled and is a fresh new approach to asset diversification and wealth creation.
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