CryptoLocally Forges Partnership With MakerDao to Make DeFi More Accessible

Published October 28, 2020 | Updated October 28, 2020

CryptoLocally Forges Partnership With MakerDao to Make DeFi More Accessible

There is a need for bridging the gap between an ordinary person and the vast world of DeFi. With respect to this, the crypto to fiat payments gateway, CryptoLocally announced partnering with the DeFi trading ecosystem, MakerDao. The latest partnership is aimed at building peer-to-peer [P2P] communities across the globe in a bid to make crypto and decentralized financial services more accessible to users worldwide, especially for emerging economies.

CryptoLocally’s official announcement stated,

“It is our belief that DeFi can be the solution to providing financial services to people all over the world who don’t currently have access to them, but first these technologies have to reach them to gain mass adoption.”

It further went on to say that,

“MakerDAO has already connected us with local representatives and ambassadors in Ghana and South America, as well as people in other strategic locations, who will help to establish communities there. By setting up communities all over the world, we are educating more people on blockchain and DeFi technologies to finally make financial inclusion a reality for millions of people.”

CryptoLocally

CryptoLocally essentially focuses on creating the easiest and most accessible fiat gateway to decentralized finance [DeFi] and its tools for everyone in the community. This end goal is to “empower all people” to help them take control of their financial future. The platform eliminates the need for a third party which in turn helps users dodge restriction posed by legacy financial institutions in terms of fees, interest rates among other things.

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Furthermore, one of its value proposition also includes its offering of out-of-band payment methods and a revolutionary smart contract escrow

The platform supports almost every local currency in the world and includes a wide array of trading options. This helps users earn a profit from those who are happy to pay a little more for the convenience. CryptoLocally given users the option to meet and trade in person, send a bank transfer or use payment methods such as AliPay, Paypal, KakaoPay, Venmo, etc.

CryptoLocally’s Utility Token -GIV

Besides, the non-custodial P2P cryptocurrency trading platform recently listed its native utility token, GIV, on Bithumb Global following which the latter became CryptoLocally’s very first centralized exchange listing partner. This was after holding a private sale for GIV, which was then followed by the successful GIV Bonding Curve Distribution Event which enabled the users to purchase the token as well. While earning interest on ETH, DAI, USDT, USDC, UNI, and GIV was already enabled via Finance Wallet, the users willing to invest in vault pools will be able to optimize yield through CryptoLocally Vaults (CLVs), non-custodial smart contract-based algorithms deployed across multiple chains.

Meanwhile, CryptoLocally also decided to extend staking rewards to a Uniswap pool in order to facilitate trades on a decentralized platform, Uniswap after receiving strong suggestions from the GIV community. Following this, the team further revealed that it will be moving nearly half of its liquidity provided on Balancer to the Uniswap pool so that community members can start trading more on Uniswap immediately.

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Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Ketaki Dixit 94 Articles
Experienced writer and editor with a demonstrated history of working in the industry. Skilled in Copywriting, Web Content Writing, Copy Editing, Writing, Cryptocurrency News Writing, and News Editing.
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