The advent of blockchain technology has disrupted almost all industries. Blockchain has become the potential solution for existing problems in the most modern way. Two such industries reformed by blockchain technology are investment and finance. Decentralized structures like blockchain will be the gold standard for investment, and will undoubtedly bring revolutions to the traditional finance system existing in the market today. One of such is DeFi (Decentralized Finance). DeFi has made a game-changing impact on different economic dimensions of the world by introducing new concepts like crypto lending.
People are fed up with the lack of privacy and security of the traditional, centralized financial systems. During the pandemic, such systems failed to give hope to people to enable them rebuild their economy. Most came to the realization that Defi will be the only solution for the looming financial crisis.
Nonetheless, the DeFi space has seen diverse challenges emerge but Paybswap is committed to solving a few of them:
1.The complexity of Defi: The existing infrastructure is huge and scattered about. The complexity of the whole ecosystem poses a barrier to entry for a regular investor. Paybswap is here to make life easy for everyday users, with its simple design non tech individuals are able to easily navigate the platform.
2.Higher Gas fees: The average Ethereum transaction fee has skyrocketed unimaginably. This makes using Ethereum network totally unviable for smaller transactions which eliminates a lot of DeFi activity for the average trader or investor. With Paybswap you have the opportunity to choose lower gas fees by connecting to defi projects on Binance smart chain and polkadot ecosystem.
3.Rapid Change in the ecosystem: Things are changing so fast on a daily and weekly basis and it’s very challenging catching up with different chains and their improvements. The cross-chain nature of Paybswap makes it possible to follow up on these improvements and changings across all 3 chains on a central platform which is Paybswap.
Paybswap is a decentralized application running on the Binance Smart Chain, Polkadot and Ethereum blockchains. The basic trading functionality of Paybswap comes directly from the pankcakeswap codebase. Liquidity providers are incentivized for providing liquidity to trading pairs with rewards drawn from the fees paid by users swapping between the paired assets.
Paybswap also features liquidity farming inspired by related projects such as Sushiswap. According on them, they take full advantage of its cross-chain features in order to power trading between assets from multiple blockchains using the Bridge modules to connect Ethereum Chain and Polkadot ecosystem.
The scalability of blockchain networks has been the main reason for limitations in the adoption of blockchain applications. Paybswap establishes a solid foundation for the creation of gateways and cross-chain applications, it provides a solution to scalability challenges through the mechanism of bridge modules.
Paybswap is deemed to be a global project and the team is determined to deliver on every promise on the roadmap from cross chain implementation, to mobile applications that would connect everyone to take advantage of Decentralized Finance (DeFi) Ecosystem.