Worthpad Protocol Review: Rebuilding the Core Offerings in Decentralized Finance

By Stan Peterson
Published September 27, 2021 Updated September 28, 2021
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Worthpad Protocol Review: Rebuilding the Core Offerings in Decentralized Finance

By Stan Peterson
Published September 27, 2021 Updated September 28, 2021

The concept of decentralized finance (DeFi) is becoming increasingly popular today. While many people are familiar with the earning models that revolve around liquidity provisions, lending, and staking, DeFi offers much more. The Worthpad protocol is one of the emerging decentralized protocols with the underlying focus of making the investment in DeFi and cryptocurrency initiatives simple and accessible for everyone. 

The DeFi ecosystem is a nascent offshoot of blockchain technology but with the potential to offer so much more. The current rate of evolution permits the rollout of new solutions, and the Worthpad has an aggregation of sub-outfits all of which work in tandem to make the platform a one-stop solution for anything DeFi.

Here is a Deeper Dive into what Wealthpad Brings to the Table

Worthpad is a platform that provides 6 different primary solutions to the DeFi world through its multi-blockchain-powered platform. These 6 product offerings include the;

  • WORTH TOKEN
  • WORTH DVC FUND
  • WORTH IDO LAUNCHPAD
  • SMART CONTRACT FOUNDRY
  • WORTH DEX
  • WORTH INSURANCE TREASURY

While each of these offshoots solves a fundamental challenge in the crypto investment ecosystem as we have it today, they are interconnected with one another and this defines the optimal functionality of the Worthpad platform.

Now let’s take a look at what each of these offshoots embodies.

WORTH TOKEN

The WORTH token is the core digital currency designed to power the diverse activity on the Worthpad protocol. In its simplest form, the WORTH token is used to fund and power liquidity pools across Worthpad exchanges. Holders of the WORTH tokens are open to a lot of incentives and earning opportunities. These opportunities include but are not limited to robust staking mechanisms and the opportunity to support innovative projects of the future through the Worthpad Initial Decentralized Offering (IDO) platform.

The WORTH tokens help the Worthpad protocol generate revenue through a 10% fee deducted from transactions that are carried out using the tokens. Of the funds generated, 50 percent is used to power the platform’s liquidity pool while the other half is committed into the Worth DVC Fund as would be discussed below.

WORTH DVC FUND

The WORTH DVC Fund is designed to help investors, irrespective of their geographical location to invest in high-growth yield blockchain startups. Coming off as an equity aggregator, the Worth DVC Fund helps in the funding of new projects, especially those under incubation by the Worthpad. 

Just as pointed out above, some of the revenue that is being utilized in the Worth DVC Fund comes from the cut on transactions. External WORTH holders who commit capital into the fund earn regularly, and the injected capital is redistributed amongst all the investors who have staked WORTH tokens.

WORTH IDO LAUNCHPAD

This is the offshoot of the Worthpad ecosystem where new projects are incubated and given the platform to raise capital from investors. The Worthpad IDO invests in the project it is backing as well as external projects, provided they offer a unique technology and good growth prospects. 

In describing the platform, Worthpad says

“the launchpad offers professional guidance, collaborations, marketing expertise and even technical assistance to ensure these projects succeed,” adding that “for these services, the launchpad earns tokens or sweat equity from the accelerated projects it has funded.”

SMART CONTRACT FOUNDRY

The Smart Contract Foundry is best described as the heart of protocol, hosting the open-source set of codes that developers can harness to launch innovative smart contracts. Designed with a great user experience, utilizing the smart contract foundry does not really require one to have deep experience as a software developer or programmer to use the product.

In order to guard against any form of exploitation, the Smart Contract Foundry will be audited and guarded against all forms of unwarranted cyber-interference.

WORTH DEX

The Worth DEX is a decentralized exchange that users in the Worthpad ecosystem can call their marketplace. Here, tokens can be bought, sold, and swapped in an efficient way using the robust liquidity provided by the Worthpad protocol.

Through the Worth DEX, the platform seeks to correct the flaws in traditional order books for centralized exchanges and Automated Market Maker (AMM) models on decentralized exchanges. Per the former, the Worth DEX will introduce a blockchain agnostic, off-chain order book-based DEX for high frequency traders, while the latter flaw will be addressed through the aggregation of various AMM protocols, a move that will give users the best prices across various DEXs.

WORTH INSURANCE TREASURY

Just as the name implies, the Worth Insurance Treasury will serve as a safety net for investors in the Worthpad Ecosystem. New projects seeking capital through the Worthpad IDO launchpad are required to buy and lock up a certain amount of WORTH tokens which are released at the successful completion of the project. The locked funds are disbursed to investors should the developer team fail to make good on their promises.

Embracing the Era of Financial Equity

The Worthpad Protocol is a gamechanger in acting as a DeFi superapp with the primary focus of bringing financial equity to all players in the broader blockchain world. In addition to all that has been described, the Worthpad protocol is running with a powerful vision, well checked by a workable roadmap and backed by the right advisors in today’s thriving DeFi ecosystem.

The Worthpad protocol has in all lowered the barrier to entry, and will effectively eliminate the bar of minimum investments.

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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.
About Author
Stan Peterson
393 Articles
Being an active participant in the Blockchain world, I always look forward to engage with opportunities where I could share my love towards digital transformation.

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