London, UK – (Newscall PR, April 03, 2022) – The DeFi space has gained immense popularity since 2020. At the end of that year, the market size of DeFi was about $24.5 billion, and today, it has soared to about $143 billion. The emergence of DeFi 2.0 had a significant role to play in this upsurge.
DeFi 2.0 solved various challenges of DeFi 1.0, including high gas fees, network congestion, risk of zero insurance, impermanent loss, the complexity of the platforms, and more. However, now the space is rapidly evolving, and projects are set to move towards DeFi 3.0.
DeFi 3.0 is another layer on top of 2.0 which aims to enhance the existing services and elevate the value provided to users. The latest project to enter the DeFi 3.0 ecosystem is Magento Financial.
Challenges of Current DeFi Protocols
Magneto Financial identifies various limitations in current DeFi protocols and sets out to solve them. We do this by building a comprehensive ecosystem that provides better quality services and higher value to our users. A few of those challenges were as follows.
Low/Fluctuating APY
A majority of the yield farming protocols provide a low APY, which also keeps fluctuating. This means that people can never be assured of the amount of profit they will gain.
Tedious Staking Operations
For people to participate in staking operations of a network, they have to jump through multiple hoops. From buying the cryptocurrency, choosing a staking pool, staking the crypto, to constantly monitoring the pools, it becomes a cumbersome exercise.
Limited Farming Options
People are only able to participate in farming one cryptocurrency at a time. Therefore, if one wants to leverage farming opportunities in more than one cryptocurrency, they must invest in multiple crypto networks.
These are a few challenges that Magneto Financial can solve through its series of protocols.
Key Services of Magneto Financial
Magneto Financial's robust ecosystem is designed to solve the challenges and offers better opportunities to people who want to grow their wealth. Here are the two most prominent services of the ecosystem.
Auto-Staking
Crypto users can receive staking rewards when they buy the native cryptocurrency. The users do not have to stake their coins separately. Once they buy the crypto, the rewards will start getting assigned periodically.
Multichain Farming
With multi-chain farming, the platform will perform its yield farming operations for different cryptocurrencies and provide you with rewards. This means that the platform will expose you to different cryptocurrencies indirectly. Furthermore, you will receive your rewards in the form of the native cryptocurrency.
The complete process becomes seamless since you have to manage only one type of crypto asset while still earning from diverse options.
These are the two main protocols in the Magneto Financial ecosystem. However, this is just the beginning, and more services and functionalities will be added to the platform over time.
Benefits of Magneto Financial
The platform provides numerous advantages to its users, as listed below:
High and Stable APY:
Magneto Financial's most significant advantage is its high and stable APY, up to 420833%. The returns are much more than the traditional farming protocols, and there is a guarantee of how much they would be. Thus, you wouldn't have to calculate or monitor how much yield you're getting every time the pay-out occurs.
Exposure to Multiple Crypto Assets in Farming:
Through multi-chain farming, Magneto Financial can carry out operations across different networks and help you earn rewards according to them. This is one of the main reasons why the platform can give you higher returns than numerous other DeFi 2.0 protocols.
Seamless Experience:
Although DeFi 2.0 protocols made the UI and UX of projects simpler, they were still complex for the mainstream audience. In addition, people were intimidated by various services and functionalities represented on the platform.
Furthermore, the user had to put in more effort to participate in operations such as staking. However, with Magneto Financial, all operations are made such that after the initial function on the user's end, they can merely become passive observers as they earn money and receive rewards from the platform.
Rug-Proof:
Numerous projects in DeFi come with the risk of a rug-pull. Developers and creators abandon the projects, and the money invested by their users is lost. However, we mitigate this risk by having no minting code within the contract. This means that the platform wouldn't be able to mint billions and trillions of the cryptocurrency for themselves.
Furthermore, we also have an experienced team of various experts. We help you know this team and provide a brief background on each of the core members to build more authenticity.
Burning of Tokens:
2-4% will be burned every week from the total supply of tokens to increase the cryptocurrency's scarcity and price. This way, even if the rewards are set and stable, the value of the same volume of assets will increase over time. This gives an incentive for people to hold on to the platform's cryptocurrency.
Overall, Magneto Financial enables people to enter the DeFi 3.0 ecosystem and leverage it to grow their wealth through services that provide better value to them.
The information provided in this release is not investment advice, financial advice, or trading advice. It is recommended that you practice due diligence (including consultation with a professional financial advisor before investing or trading securities and cryptocurrency.
