Halstein Finance Is A Gateway For Novices To Get Into DeFi
DeFi has been growing at an incredible rate. Since 2018, the value of assets locked in DeFi has increased by a factor of 800. Three years ago, there was $50 million locked in smart contracts; now there’s over $40 billion!
However, for DeFi to become a legitimate alternative to centralized finance, several significant hurdles still need to be overcome. High fees and difficulty-to-use platforms are two of these hurdles. This kind of perceived inaccessibility is exactly what will keep away general retail investors who are used to the simple and intuitive interface of investment platforms such as Robinhood. If DeFi is to attain genuine mass adoption, it is these people it has to attract. It has to be as intuitive to interact with for novices as it is for long-time crypto enthusiasts.
This is where Halstein Finance comes in. It is a money market protocol that allows users to lend, borrow and stake crypto assets, all in one easy to use platform. By leveraging the utility of Polkadot bridges and parachains, users will have access to most major markets on one interface similar to how traditional centralized finance platforms work. All of these solutions that Halstein’s platform offers are crucial if DeFi is to attract retail users who are accustomed to traditional centralized finance platforms.
Halstein’s reserve fund will serve to support the whole Halstein Finance marketplace. The Reserve Fund will enable better collateralization rates and a bigger cushion for borrowing positions. The fund will primarily hold Halstein Finance’s native token: $HALF.
The Halstein Finance Ecosystem is built around the HALF token which serves 3 core functions:
- It will allow users to participate in the Halstein Finance project’s governance. New products, token utility, and chains to be included will all be voted on by token holders. This will ensure that Halstein Finance can stay decentralized.
- Users earn HALF by both lending and borrowing on the Halstein Finance markets.
- HALF tokens can be staked in the Reserve Fund to ensure the protocol’s stability. Stakers will be rewarded from the project’s revenue proportional to their stake.
Halstein’s dApps are designed such that all the noted functionalities are hosted one easy-to-use interface. Novice users can therefore stake assets and track their real-time earnings with ease, thus beneffiting from this revolutionary DeFi lending platform.
DeFi and the crypto space in general, has not always been kind to novices. Setting up wallets, connecting to Uniswap or the Binance Smart chain, the unforgiving nature of making a mistake doing any of this, all of these things can be very intimidating for people new to the cryptosphere. With the crypto space, particularly DeFi, expected to attract even more users in the upcoming years, this situation must change. Users must be able to use DeFi platforms with ease in order for DeFi to become mainstream.
Novel DeFi platforms such as Halstein Finance, which make it easier for users to interact with DeFi while expanding DeFi’s utility to match traditional Fintech solutions, are exactly what DeFi needs to achieve genuine mass adoption. Halstein Finance is certainly at the forefront of this revolution.
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