The DeFi scenario within crypto represents a variety of projects and each one of these projects has its own products and features. But the only aspect that they have in common is offering users the ability to earn attractive returns by staking/farming. Since the launch of UniSwap and SushiSwap, people have been wanting to partake in the growing DeFi market but it is difficult for novices even now. However, the team of Pacific DeFi aims to change that. In the following, we shall discuss how Pacific DeFi plans to become the go-to platform for staking/farming risk-adjusted rewards.
The crypto community has shifted their preference from individual projects to DeFi platforms where they can indulge in different types of decentralized assets to gain from each one of them over time. Pacific DeFi fits the bill perfectly because it plans to offer the best stablecoin and altcoin yield to its users who want a fixed income product without taking too many financial risks in DeFi.
The primary goal of Pacific DeFi is to become one of the most user-friendly platforms for people who want to be in control of their financial destinies. To achieve this, Pacific DeFi is working on a unique and competent application and has planned PACIFIC tokens to be used for multiple purposes throughout their DeFi platform. Pacific DeFi wants token holders to get maximum rewards because, at the end of the day, the Pacific DeFi ecosystem is not at all about growing its revenue and profit.
The team will also ensure that platform security is not compromised. To achieve that it would partner with one of the best security companies and integrate strict DeFi protocols which would not only improve security features but also provide longevity and scalability.
Now let us talk about the products offered by this particularly ambitious project. The product suite of Pacific DeFi consists of;
- Single-token, yield-enhancement vaults for stablecoin and non-stablecoin
- The function of lending and borrowing
- Leveraged vaults
- Launchpad to make newly-released projects accessible for all.
- A universal wallet that anybody can use
- A platform dedicated to token swaps
Note: The best thing about pacific DeFi is the fact that there will be interoperability across different types of blockchain networks.
The unique features of this DeFi platform would be democratized using its native currency dubbed as PACIFIC. It would be a BEP-20 token with a supply of 100 million. 2% of the total profit made through PACIFIC tokens would go to ocean conservational causes. Being the native asset of this ecosystem, PACIFIC token holders would directly be a part of the growth of the platform and earn fees just by holding these tokens through various business means.
An overview of some PACIFIC token applications:
- High yield vaults
These vaults allow single token staking and produce yield by the application of vault aggregation strategies. People interested in a fixed-income product will be rewarded with high yields on not only stablecoin but also other cryptocurrencies.
- Lending and borrowing
Earning high-yields is also possible if a user lends their crypto to high-yield vault participants. Leveraging lender funds also help maximize returns of the high-yield vaults.
- Buyback and returns
The team can always bring back PACIFIC tokens and burn them from generated profit within the protocol. This means that PACIFIC tokens have a depreciating supply which would effectively increase their value in the long run.
There is a high possibility that Pacific DeFi would establish its multi-chain approach before high-yield vaults as its team continues working on deepening the liquidity factor by developing bridges across Polygon, BSC, and Ethereum. The role of these bridges is to connect multiple blockchains and works as a gateway to access their liquidity to onboard more users on the Pacific DeFi platform. Once the staking and farming become available on Polygon, the next integrations could be most probably with Avalanche and Solana. After Polygon blockchain integration is complete, Pacific DeFi’s high yield vault would go into the development phase.
Pacific DeFi is in phase 2 which means staking and farming will begin according to their roadmap once the application launches. Before the end of Q4 2021, Pacific DeFi would complete the following goals:
- plans to list on a centralized exchange (io) after Polygon staking begins
- Develop bridge between Polygon and Ethereum
- Start staking and farming on Polygon and Ethereum blockchain
- Partner with DeFi projects based on BSC, Polygon, and Ethereum ecosystem
- Staking and farming on Binance Smart Chain using PACIFIC and PACIFIC-BNB pools
- Collaborate with DeFi tools provider and release a live analytics dashboard
According to the pacific DeFi update, staking and farming on its BSC platform went online on 22 October and it would run for almost 3 months. The program turned out to be a huge success with both the PACIFIC and PACIFIC-BNB-LP pools filled up to maximum capacity post-launch. The project has partnered with BSC, Hypbercube, BlueZilla, Kowloon Labs, KCC Pad, Pancake Swap, and NonceVC, etc.