Have you ever wondered how safe it would be to have an unbreakable spell over your digital assets to protect them from cyber criminals? Why wish for a spell when you can have the safety of the Gringotts? Gringotts was a fictionalised financial institution mentioned in the most famous Harry Potter fantasy novel. It provided banking services to the wizarding world. Gringotts bank was managed by the goblins and safeguarded by Dragons, Monstrous Security-trolls, and magical beasts called Sphinxes on different levels. The utmost security of this place made it one of the safest places in the wizarding world.
The crypto world also has platforms like Gringotts to serve the crypto community. Lockyourcrypto.com, Curve, and Olympus DAO are such platforms that protect digital assets using the most advanced technology and safety measurements.
OlympusDAO is a decentralised non-pegged stablecoin that aims to be more stable than the coins pegged against the dollar or fiat. Olympus ecosystem is powered by its native token called OHM, which they envision as the reserve currency of the decentralised finance system. The token is designed in a way to grow consistently while maintaining a constant value. OlympusDAO consists of Protocol-owned liquidity and Protocol Managed Treasury. The treasury consists of stablecoins like DAI and FRAX. If the value of OHM tokens falls below the stable value, the treasury will be spent to save it from falling.
Olympus DAO issues bonds, similar to governments, to generate money for its treasury. Investors who buy a bond agree to receive OHM tokens in exchange for DAI, FRAX, and ETH. This feature helps OlympusDAO to sell its token at a discount and also raise income for the treasury. Profit generated through bond sales will be redistributed to the stakeholders in the form of OHM tokens.
Liquidity is very important for any crypto project to buy and sell a token at a stable price. Since the rented liquidity has the risk of attracting cynical investors who would farm the liquidity pool to earn rewards and abandon them in the middle, Olympus DAO retains most of its liquidity. It supplies most of the OHM liquidity to automated market makers. This ensures constant liquidity of OHM at a stable price.
The OlympusDAO team works tirelessly to provide best-in-class DAO development services. It also strives to build long-term relationships with its clients by signing confidentiality agreements that prevent the release of any information and ideas related to the projects.
Curve.fi is a blockchain-based decentralised exchange that uses an automated market maker. It is powered by the CRV token built on the Ethereum blockchain. This token gives the user the right to vote on the proposals to change the protocol.
Curve eases exchanging stablecoins and other ERC-20 tokens. It reduces the slippage and fee by encouraging users to create liquidity pools and deposit their funds. These pools contain similar assets to minimise impermanent loss and provide great returns. Besides interests, liquidity providers are also rewarded with a share of the trading fee every time a user makes a trade on the curve network. Curve.fi ensures the safety of its users through smart contracts.
Lockyourcrypto.com offers the safest vault in the crypto world to keep your digital assets protected. The users will have to choose a time frame for their deposited amount to be locked up. After transferring the amount to the vault, the users can not use the deposited amount until the end of the lock-up period. However, the platform will allow users to handle their deposited funds in case of extreme emergency conditions.
Lockyourcrypto.com employs high-level encryption to ensure the safety of the fund and the privacy of the depositors. The in-built multi-layered security keeps the digital assets away from the hands of hackers. The users will be asked to identify themselves through a fingerprint or a password to avoid the risk of unauthorised access to the vault. It also uses a tamper-proof hardware device that reduces the chances of users’ private keys being exposed to any hacking. It also protects its users from phishing attacks and accidental transactions.
These unique features make Lockyourcrypto.com a Gringotts of the crypto world. The motto of the Gringotts is “Strength through loyalty”. Lockyourcrypto.com also operates on the same motto!
Check it out at the links below:
*This article was paid for. Cryptonomist did not write the article or test the platform.