In the world today, digitalization is pivotal to business development. Unlike the Stone age where things were almost impossible to accomplish, now evolution has made a spectacular turn around and accomplishment to human society.
The financial quest for effective and efficient methods has brought about the emergence of Cryptocurrency(digital money) and at the same time DeFi.
Significance of this Partnership
To mitigate the challenges and risks alongside stress in which users have to individually consult various exchanges, compare trading prices on each exchange to get the best deal, and then manually execute each transaction using smart contracts, DefiCliq has made a partnership with Xend Finance so has to use its DeFi aggregator for their platform.
Xend Finance DeFi aggregator will play a huge role in pulling out the best prices from across the DeFi landscape including DEXs, lending services, and liquidity pools into one place so that users on DefiCliq can enhance and hone their trades in the market. Decentralized finance is spread out across blockchains like Binance and Ethereum and each blockchain possesses its financial protocols.
While these individual protocols offer great returns on lending your crypto, part of the appeal of DeFi is swapping, selling, and trading crypto at the best rates, which can be challenging when financial information is spread across multiple protocols and this is why the integration of Deficliq with Xend Finance DeFi aggregator is vital to helping Deficliq customers bring trades across decentralized exchanges automatically to increase their efficiency for better trades.
Staking Xend Finance Native token
The partnership with Xend finance will also allow Xend Finance to use DefiCliq Staking 2.0 to allow their native token to be staked. The Xend token ($XEND) is the native token for Xend Finance. These tokens are used to reward users for saving, investing, and executing different operations on the network. Xend Finance allows Credit Union operations and individual saving operations on the smart contract.
The partnership with such a phenomenal DeFi Credit Union(Xend Finance)shows Deficliq wants the best for its users as Xend Finance provides individuals, groups, cooperatives and credit unions in several countries with unstable currencies access to a global trustless and stable-currency savings, lending, investing and borrowing networks
DefiCliq is a Polkadot ecosystem long-term project which is one of the first and best that offers both collateralized and uncollateralized loans. It is an entire DeFi system that has caught the financial market by surprise due to its promising features and its prospective nature which has disrupted the traditional finance world as well as the peer-to-peer (P2P) loans market. It consists of applications and peer-to-peer protocols developed on decentralized blockchain networks that require no access rights for easy lending, borrowing, or trading of financial tools.
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