A New Dawn for SSS as it Enters Decentralized Finance
NEW YORK, USA, November 16, 2020 /EINPresswire.com/ -- SSS premiers its latest product offer WSSS aimed at disrupting the Ethereum and DeFi (Decentralized Finance) ecosystem. Since its formal introduction, Ethereum has been the biggest contributor and disruptor of the DeFi ecosystem, and that has been made possible due to the smart contract feature.
Ethereum is a global decentralized blockchain featuring smart contracts. The smart contracts give Ether the associated crypto its value. Now with the advancement of the Ethereum ecosystem and more specifically programming of applications, blockchains have been adopted to solve complex financial cases. This adoption has become to be known as DeFi.
Therefore with DeFi, blockchain and associative technologies like crypto, their financial application in the industry have disrupted financial intermediaries like banks and payment services like visa, PayPal. DeFi has been used in several instances and the following are the most popular:
- Stablecoins where a token is tied to an asset that is not crypto.
- Lending platforms that apply smart contracts to do away with intermediaries.
- Prediction markets where users bet on the outcomes of future events without intermediaries.
- Decentralized exchanges where users trade directly one to another with their money or assets.
- ‘Wrapped’ token or crypto in a sense that the token can be sent over the Ethereum network and the token can be used directly on Ethereum’s DeFi system. Interest can be earned on the ‘Wrapped’ token on the decentralized lending platform.
Thus, SSS has picked on the ‘Wrapped’ token application and come up with WSSS. The development brings interoperability. And a cross-chain bridge will be built where SSS holders will be able to lock SSS into the cross-chain protocol and claim WSSS enabling them to trade on Uniswap and interact with the Ethereum ecosystem. Besides, this will enable you to provide liquidity to the WSSS through Uniswap (the decentralized protocol for liquidity on Ethereum.)
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About Simple Software Solution: SSSolutions is a software company with a renowned team of developers that focuses on designing and building enterprise-ready products that are secure and simple. The products enable the transfer of value across an accessible and standardized ecosystem that is secure, flexible, and scalable. They provide blockchain-related solutions and services that have real value, are easily understood, and are easily utilized by ordinary consumers and investors.