Categories: DeFi News

Insider Protocol Ramps Up Plans To Launch DeFi Protocol in near months

The evolution of blockchain and cryptocurrencies has fueled the proliferation of innovative projects, aiming to take the concept of decentralization to a new level. Insider Protocol is amongst the projects in the cryptospace, striving amongst many things to develop automated trading bot services that can help users maximize profit.

The Insider Protocol team dubbed the Mechanics of the Future team is developing a decentralized finance (DeFi) protocol that will go live in near months. While the buzz has been welcomed by the network’s current adopters, it will emerge as one of the latest projects flooding the DeFi ecosystem today.

The DeFi Protocol will take backing from the Insider Protocol, which will still be operational even after the latter is fully onboarded. According to the launch update shared by the platform, the decentralized offshoot of the network will launch the equivalent DeFi assets which will officially be listed on Uniswap quite soon.

Insider Protocol Technology, Ideals and Economy

Insider Protocol is a platform primarily built for traders and investors, with the algorithmically built trading bots, trained to conduct High-Frequency Trading (HFT) for subscribers. High-Frequency Trading is generally forbidden for individual traders owing to the associated tendency to create false market impressions that benefit the users, but the privacy-centered protocol through which forms the basis for the operation of Insider Protocol helps shied the identities of the traders.

The protocol thrives upon the ideal that there should be no restrictions in wealth building and it drives this agenda with the aid of its native token, the IPRO tokens. The IPRO tokens are currently operating as an ERC-20 token, a standard for building digital assets using the Ethereum Network. However, Insider Protocol is developing its own Blockchain which will utilize the highly encrypted MimbleWimble Protocol to further advance its privacy tenets.

Insider Protocol previously launched the Option X trading algorithm, a highly functional trading tool for institutional-grade traders. While the bulk of the offerings of the platform is made available using the BTC-USDT trading pairs, there are ongoing plans to support a broader range of digital assets including Ethereum (ETH), Litecoin (LTC), and Monero (XMR) pairs.

Extra Perks of the Proposed DeFi Protocol Launch

With the growing acclaim of the Insider Protocol since its inception, the launch of the DeFi Protocol will further complement the platform’s bid to be an empowering force in the broader cryptocurrency ecosystem.

As shared on the protocol’s Telegram media channel, users will have the following benefits and use-cases will be unlocked after the DeFi Protocol rollout and will work at full-throttle;

  • Cryptocurrency lending
  • Liquidity provision
  • Get a commission from transactions
  • Use DEFI pools
  • Earn on derivatives
  • Create own portfolios
  • Earn on indexes
  • Internal swap

While the decentralized finance ecosystem as we have it today is replete with smart contracts offering one or more of these services or products, Insider Protocol’s enthusiasm as gleaned is based on the backing of its growing community, as well as its underlying technology.

The protocol noted that it will be sharing more details prior to the Uniswap and other DEX listings, current investors or users who have purchased its trading cards, will be eligible for an airdrop featuring the new DeFi protocol asset.

Casper Brown

I am an associate content producer for the news section of Coingape. I have previously worked as a freelancer for numerous sites and have covered a dynamic range of topics from sports, finance to economics and politics.

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