The Decentralized Finance (DeFi) space was built to ensure democratic access to wealth management in the cryptocurrency industry, with low fees and an open-source model. More specifically, the DeFi space was designed to put control back in the hands of people who are tired of their wealth being at the mercy of financial institutions like banks.
In the midst of the pandemic, investing in the DeFi space has proven to be a wise decision for people who were looking to protect, and even grow, their wealth. After all, in the middle of an inflation of many fiat currencies around the world, most cryptocurrency assets have seen an appreciation. This is even more impressive when you consider the dire economic climate that we’re facing as we adjust to a new normal with strains of COVID-19 still disrupting our lives.
How does Decentralized Finance work?
DeFi transactions run on the blockchain network where DeFi apps like Aave, Cardano and Polygon allow investors to lock their funds in smart contracts. Once these funds are locked in, the owners can lend, borrow or simply let their funds accumulate value over time. In general, the annual percentage yield on most of these platforms can be anywhere from 5% to 50%.
It is this yield that is drawing many people from the traditional financial industry to explore the DeFi space. After all, traditional financial institutions could never match this kind of growth. Any funds invested in decentralized finance are very liquid, and completely digital, taking out traditional middlemen like banks who normally influence economic growth. In fact, people who invest in DeFi get the best rewards because middlemen are completely eliminated in this model.
Despite the gains brought about by the DeFi industry, it still has high barriers to entry. The complex nature of most DeFi assets can make it difficult for a new investor to enjoy the full benefits of the space.
The components of DeFi assets are similar to those of existing financial ecosystems in that they require stable currencies and a diverse range of use cases. Stablecoins and services such as crypto exchanges and lending services are all examples of DeFi components. Smart contracts provide the framework for DeFi apps to function because they encode the terms and conditions required for these services to function. A smart contract code, for example, has a specific code that establishes the exact terms and conditions of an individual loan. Collateral may be liquidated if certain terms or conditions are not met. All of this is done through a code rather than manually through a bank or other institution.
A software stack contains all of the components of a decentralized financial system. The components of each layer are designed to perform a specific function in the construction of a DeFi system. Composability is a distinguishing feature of the stack because the components from each layer can be combined to create a DeFi app.
What problems does the DeFi space face?
Despite offering users numerous advantages, the DeFi space actually contains high barriers to entry. For starters, the complex nature of many DeFi assets makes it difficult for new investors to enjoy the full benefits of decentralized finance. For this reason, the adoption of DeFi has not been as widespread as it could potentially be.
Additionally, almost all DeFi transactions take place on the Ethereum blockchain, and each transaction has to be paid for in ETH, Ethereum’s native cryptocurrency. As more people make the switch from traditional financial models to DeFi, the costs of these transactions have shot up. In 2021, these transactions could cost anywhere from $20 to $200 each.
How Nemesis Wealth Projects is solving these problems
Nemesis Wealth Projects is a collection of software and applications designed to make it easier for both seasoned investors and newbies to access DeFi. The upcoming friendly APP Wallet+Buy feature will allow users to quickly buy and safely store DeFi assets in their mobile phones. The developers also plan to add a Swap+Shop function to allow token holders to shop anywhere in the world using their tokens. When combined, these assets are designed to make everyday use of DeFi products easier, even for the most novice investor.
At the heart of the Nemesis Ecosystem is the $NMS Token, which is built to grow in value over time. By building features such as a monthly burning plan into the ecosystem, Nemesis Wealth Projects ensures the continued scarcity and progressive appreciation of the $NMS Token. Once they’re released, all $NMS Tokens are protected in 4 Nemesis Ecosystem sections, each representing a different use-case.
Under the Financial Services section, tokens are linked to financial services with a speculative appeal. The Art & Charity section is dedicated to the sponsorship of emerging artists and support of international charitable causes. Part of these tokens are donated to international oganizations that participate in child support, ecology and animal rescue efforts. The Meme & Gaming section supports the creation of meme tokens that appeal to gamers. These tokens are released on inexpensive gas fees chains and targeted as service tokens to game companies. Finally, the Business Services tokens are designed to be used by companies as rewards, benefits and bonuses for their employees.
Why should you invest in the Nemesis Wealth Projects ecosystem?
The team behind the Nemesis Ecosystem is a group of crypto experts who are dedicated to creating wealth for the average DeFi investor. This team is led by Nemesis Wealth Projects founder Guido Ivo Tissi, who is a respected member of the crypto community. This means that you have access to a trusted authority, someone who is invested in building the platform in the best way for the community.
The Nemesis Ecosystem is also 100% community-driven, so you can rest assured that your feedback will be taken into account in the expansion of the platform. The Nemesis team does not collect fees or taxes from transactions, thus keeping transaction costs low. Finally, the team is dedicated not only to price increase but also price stability.
The team behind Nemesis Wealth Projects is on a mission to create wealth for the community and add value to people who are involved in business, art and charity activities. They swear by their motto: “We strive every day for our holders’ wealth.”
For more information about Nemesis Wealth Projects, click here.
I have worked in the cryptocurrency industry for over 5 years and have written numerous articles on the subject. I am well-versed in all aspects of cryptocurrencies and blockchain technology, and am an expert in the field.
