We are excited to announce the next technology disruptor set to launch their IDO on Ignition! Demodyfi is a fully integrated automatic moneymaker ecosystem that provides decentralized financial services to its user base. It is built on Moonbeam and Polkadot and is controlled collectively by its userbase.
Here are some important dates to note if you would like to support this project:
- 📋 Whitelist Start: May 31, 2021
- ⏰ Whitelist Close: June 3, 2021; 4AM UTC
- 🚀 IDO on Ignition: June 10, 2021; 11AM UTC
🔒➡️🔓 Vesting Period: 33% on TGE, then 33% monthly.
Apply for the Demodyfi whitelist lottery for Ignition HERE.*
Longstanding weaknesses of blockchain
Blockchain is not a perfect system. Some flaws have lasted longer than they should have. In particular, the problems of scalability and interoperability have stunted the growth of blockchain.
Most users are already used to the convenience created by centralized platforms. For example, financial services are easily carried out across different banks and different countries without any challenges. This convenience is scarce in the blockchain economy, discouraging potential users from migrating to safer and more secure decentralized networks.
Despite the risks associated with centralized platforms, most users would prefer to hang on longer just because of the convenience they are accustomed to. The question of convenience in blockchain has been a thorn in the flesh for quite some time, with most solutions offered underperforming.
In addition to the inconvenience, potential decentralized users must also contend with the occasional, and recently more frequent, high gas prices. Most decentralized financial services are built on Ethereum, which cannot cope with the market’s transaction demands. High gas fees on the platform are now a norm, making users opt-out of decentralized services.
The expanded effect of all these inconveniences is a crippled decentralized market that is unable to grow as expected or even maintain its current userbase. Fortunately, there is hope in innovations from platforms like Demodyfi.
A paradigm shift in economic organization
With the dynamic user demands, Demodyfi saw an opportunity to provide the decentralized market with decentralized services that can match their demand appetite. Central to its service was simplicity. The platform is keen on delivering a user experience that is simple and easy to use, allowing on-boarding of entry-level and advanced decentralized finance users.
To achieve this, Demodyfi was built on Polkadot, where it was able to use the advanced substrate technology by Polkadot to create its blockchain tailored to the changing market demands. Having its blockchain allows Demodyfi to control parameters that contribute to adequate scalability and efficient interoperability.
On interoperability, Demodyfi achieved a parachain, which means that the platform can support liquidity from other blockchains. This creates convenience as more people are diversifying their token holdings. The platform also features collaborated decentralized liquidity pools, enabling cross-chain lending, another positive contributor to efficient interoperability.
With advanced price discovery, Demodyfi plans to have the lowest transaction rates in the decentralized economy. Having found a solution to interoperability and scalability, Demodyfi has the right tools to achieve low transaction fees, even for cross-chain transactions. Demodyfi’s services ensure that their users can enjoy all DeFi services under one platform.
Thus, with its services, the decentralized economy may witness a paradigm shift that may positively influence the overall figures of blockchain adoption globally.
Get ahead of the curve and apply for the Demodyfi whitelist HERE*
The $DMOD token
DMOD is the native token of Demodyfi. It enables the provision of financial products and services within the Demodyfi ecosystem without any centralized entity. DMOD serves two essential functions:
- It serves as the primary token of exchange for native transactions and smart contracts as a network utility token. It is also utilized for staking within the network.
- Governance. As token holders, users of the platform have a right to vote and determine the direction of the platform. Through elections, users decide treasury governance, council members, network upgrades, referendums, risk management, and any other factor that could potentially affect the daily operations of the platform and its userbase.
Besides its vital function, DMOD will also be traded in various exchanges, where users can sell and gain some profit from DMOD generated within the ecosystem. The total number of DMOD to be minted by the platform is 100M, creating a token that will gradually increase in value.
*For applications to be considered valid, all applications must adhere to the PAID whitelist lottery rules, pass PAID Ignition’s KYC process, and adhere to each project’s specific KYC requirements and country restrictions which vary per project on a case to case basis. For a list of Demodyfi specific restricted KYC countries, check HERE.
About Demodyfi
Demodyfi is an automated market maker platform that is built on the ethos of blockchain. It delivers decentralized financial services in a fully decentralized network whose control is fully decentralized, with each user contributing to the platform’s decision-making activities. The setup ensures transparency of all network activities, thus creating a trusting environment for its users.
Demodyfi also provides an ecosystem where decentralized users can gain tokens from platform activities and generate wealth from the tokens through decentralized exchanges.
Connect with Demodyfi on:
About Ignition
IGNITION is a featured product of PAID Network, operating as a decentralized swapping protocol which allows blockchain-based token projects to offer their private and public auctions. The platform features Ethereum, Binance Smart Chain (BSC), and here shortly, Polkadot functionality.
Ignition is different from other auction platforms in that it properly vets and selects only top-tier cutting-edge projects. Its multi-level incentivization mechanisms for participants of published projects will encourage HODLing that supports both the project founders and the community. It isn’t just a trading platform, it FUELs projects and takes fundraising to the next level.
Ignition brings quality projects, fixed swaps, and equitable lottery participation to the PAID community.
About PAID
PAID Network seeks to redefine the current business contract, litigation, and settlement processes by providing a simple, attorney-free, and cost-friendly DApp for users and businesses to ensure they #GetPAID wherever they are in the world.
PAID technology leverages Plasm to operate on both Ethereum and Polkadot ecosystems. PAID makes businesses exponentially more efficient by building SMART Agreements through smart contracts in order to execute DeFi transactions and business agreements seamlessly.
For any questions for the PAID network, please feel free to reach out to us on:
- Website: PAIDNetwork.com
- Telegram: @PaidNetwork
- Twitter: @PAID_Network
- Medium: @PAIDNetwork
