Smarts Finance — A Community-centric and Governance System

The ultimate goal of a DeFi protocol from the look of things should be decentralizing finance, governance and technology. However, the whole DeFi ecosystem is finding it difficult to fully decentralize its systems especially the governance system. Though, protocols had deployed different governance models to achieve the true decentralization, still elements of centralization are seen taking over the process, most especially during the voting process for key proposals and decisions. Decentralizing the governance is very vital in DeFi ecosystem just like every other element that make up the sector.

Not enough, but a number of projects had came forth claiming to be the DeFi with decentralized governance, modelling after each other in what seems like an oversaturated ecosystem. And on top of that, there are lot more on daily basis, proposing and promising new model that will address the deficit, that is, the centralization within the decentralized protocols. One of these DeFi projects proposing new governance system is Smarts Finance. Let’s take a glance at what Smarts Finance entails.

Introducing Smarts Finance

Smarts Finance is an innovative DeFi platform, trustless and decentralized, with the aim of using the blockchain technology to provide an autonomous and flexible money market on the ethereum blockchain. What is smart about Smarts Finance is that, it is using a community-oriented approach to reach consensus. This approach further put the centralization trait seen in some decentralized protocols in check as earlier discussed. The DeFi services been offered by Smarts are focused in building a platform that is sustainable, adaptive, community-centric, cheap to use and accessible to everyone.

Without beating around the bush, why Smarts Finance and what unique features or proposals that set it apart from the already existing DeFi protocols?

Unique Features of Smarts Finance

• Community-driven: This is where Smarts is using the blockchain to challenge traditional finance by creating a system that belongs to no one and that is for everyone. This system allows SMAT holders to decide what get integrated into the platform and in what direction the platform moves.
• Smarts is an inbuilt multi-purpose money market.
• Availability of a well-organised exchange market where users can lend and borrow short term and high quality debt.
• An improved liquidity mining model: This model combines Core’s Mining model with that of Uniswap in addition with amazing fixated lockup feature. There is partnership with other high quality DeFi projects, that allows users to mine non-native tokens on the platform.
• Seamlessly lend, borrow and stake: Lending and staking feature on Smarts protocol are fortified with high yield incentives and a double reward implementation which allow participants to earn SMAT token and also farm other tokens.
• First-class security: Being built on ethereum blockchain is the first line of defence and security. In addition, no single Smarts application will be left untested as all codes and applications will be subjected to an intense testing and auditing by both internal and external security experts.

SMAT

SMAT is an ERC20 token and it is the native/governance token on the Smarts Network. It will be needed in making key changes to the protocol as holders will use it in voting and passing proposals. Users can stake their SMAT token and earn staking rewards. Also, SMAT will be given to Liquidity providers as incentives for services rendered.

Smarts Applications/products

Smarts Finance is ushering in new model of application and usage via its offerings in form of Smarts Staking, Smarts Lending and Borrowing, and Liquidity Mining. Check the image below for more details. DeFi world is still at infancy, having more room for expansion and innovation. Not 100% perfect, but heading towards perfection.

CONCLUSION

Just as the DeFi ecosystem is still at infant stage, striving to find its foot well established within the crypto industry and in global finance, developers and innovators are not stopping until true decentralization is actualized and truly applicable. Smarts Finance is leading this charge.

Visit the official links for more information:
Website: https://smarts.finance
Telegram: https://t.me/smarts_ann
Twitter: https://twitter.com/Smarts_finance
Discord: https://discord.gg/S45K6fQR6N

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