Why ModiCoin is using Decentralized Protocols & Services like Unicrypt

Why ModiCoin is using Decentralized Protocols & Services like Unicrypt

Why ModiCoin is using Decentralized Protocols & Services like Unicrypt

The legacy financial system is largely based on centralized organizations and majorly controls all kinds of financial activities in both personal finance as well as institutional finance. While it has a rigid structure in place, unfortunately, it does not give stakeholders complete control over their own investments, savings, and returns. Hence, it is a structure that compels people to depend on third parties and intermediaries to maintain their financial profile. While this might have certain advantages in some cases, traditional finance deprives people of their financial freedom to a considerable extent.

The DeFi Solution

Decentralized Finance or DeFi addresses these problems by offering a large suite of financial instruments that eliminate the need for brokers, banks, and any other third-party financial service provider. In other words, DeFi helps people restore control over their personal finances and be in complete charge of how they want to handle their digital assets.

DeFi networks enable people to deploy and operate decentralized applications over blockchain frameworks thus instilling multiple layers of security and compliance. These are overseen by several other decentralized protocols and services that are crucial to offering an integrated range of financial instruments which can eventually be used by the end-consumer in a seamless manner. This essentially means that DeFi applications must be complemented by relevant and advanced decentralized protocols and services that ensure that the DeFi instruments work as they are intended to. 

Additionally, these protocols and services enable DeFi platforms to provide a wide range of offerings and benefits under one umbrella to the end-user. Hence, it is fair to say decentralized protocols and services are an integral part of any project or platform hosting decentralized applications, not only because of the end user’s convenience but also because of the overall platform’s smooth functioning as intended.  There are several platforms offering such decentralized protocols and services in the DeFi space and one of the most prominent ones is Unicrypt.

Unicrypt’s Role in Decentralized Protocols & Services

Unicrypt is a global provider of multi-chain decentralized protocols and services. It offers DeFi projects with an integrated suite of such protocols and services that are based on advanced, disruptive, and audited technology. Unicrypt’s services are supported across multiple prominent blockchains like Binance Smart Chain, Ethereum, Matic, xDai Chain, etc. While Unicrypt was originally developed and deployed on the Ethereum blockchain, it gradually expanded its service suite across other blockchain frameworks as mentioned above with the sole objective of enabling a large number of projects across the crypto industry.

Unicrypt offers a wide range of protocols and services in the DeFi space. These offerings are gradually becoming the norm and gold standard of the industry. Some of these include – Liquidity Lockers, Token Vesting Mechanisms, Token Minting Mechanisms, Staking as a service, Farms as a service etc. Interestingly, Unicrypt also serves as a decentralized launchpad for a various new crypto and DeFi projects. What sets it apart is the fact that Unicrypt offers automated, scalable, and multichain tools and solutions that can be used by projects whose platforms are deployed on various different blockchains and not only on the Ethereum Blockchain. Moreover, Unicrypt also encourages budding DeFi and crypto projects to use its technology and product suite as an incubator, thus supporting the larger ecosystem of digital technology. Over the last year, Unicrypt has served close to 35000 projects in multiple capacities and is growing with more than 20000 active users.

Ending Note

As the DeFi ecosystem continues to grow exponentially with the massive future potential of disrupting mainstream finance, platforms like Unicrypt are only propelling that trend in the right direction. At the same time, emerging projects like ModiCoin are optimizing how DeFi is perceived among the masses by carving out real-life DeFi applications. For example, ModiCoin is gradually advancing towards its mission of revolutionizing how people save, invest, and grow their digital assets by harnessing the power of Decentralized Finance. In fact, ModiCoin is launching its private sale shortly wherein it has used Unicrypt’s decentralized protocols and services to instil an added layer of security and compliance for the potential investors.

It has been a phenomenal growth trajectory for the entire DeFi space as it strives to address the loopholes and drawbacks of traditional finance. The role of platforms like Unicrypt, ModiCoin, and several others are extremely crucial in this journey, as we gradually move towards a digital world where collaboration will prove to be a greater force than the competition.

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