Paycer Protocol: A tool that will help you to invest in DeFi Products.
Introduction
For many of us, wealth generation is quite important and most of us look forward to investing in places that offer high Interest. Usually, people try to invest their funds in Fixed Deposits, mutual funds, and much more but sadly it doesn’t offer huge ROI. Looking at all such problems Paycer decides to build a platform for users that leverages the principles of DeFi and Blockchain technology. Users will be able to make investments and earn huge ROI without worrying about security and dynamics at the backend. Looks quite Confusing? Don’t worry In this blog we will discuss more Products by Paycer Finance.
What is Paycer Finance?
Paycer finance aims to offer services that will help people to create more wealth through the Yield Aggregation Products. Paycer will have two major components known as Paycer Protocol and Paycer Platform.
Paycer Protocol is built using the Blockchain smart contracts that will provide aggregation across selected DeFi Protocols available cross-chain. Any interested Crypto user can use Paycer Protocol to make an investment and earn high interest. This will not only provide high interest to the investors but will help inexperienced crypto users to onboard into DeFi Ecosystem.
Whereas, the Paycer Platform will offer an easy-to-use user interface by hiding all the DeFi complexities at the backed. Any beginner would be able to use such a platform and generate high interest in their investment.
Both of these products will be built by Paycer’s Blockchain and DeFi experts under compliance and regulations in Germany.
Services Offered by Paycer Protocol
Paycer Protocol is based on smart contracts that include different business logic to help users to earn interest. It will include services like liquidity mining, yield farming, lending and borrowing, and also automated risk checks.
On-Chain Yield Aggregator
Paycer protocol has selected some of the best DeFi Products across different Blockchains. There will be several smart contracts deployed on different blockchains. The benefit of having on different blockchain will be low risk and maximizing the interest rate by allocating at different DeFi Products. It will be quite similar to ETFs, which can be purchased to invest in different products.
Automated Risk Mitigation
It is quite essential to build up the strategies to minimize the risks. Paycer will develop some checks that will be useful to detect specific patterns and recognize negative signals. It will be using some advanced technologies such as Machine Learning and Artificial Intelligence. Also, they will develop some intelligent bots that will help to recognize the negative signals and do an estimation of the risk. Such a system will make Paycer more strong and secure.
Hack and Flash Loans Manipulation Prevention
In many DeFi Products, Flash loans are the major problem. The prices can be easily manipulated by hackers without having enough funds. This has already affected several DeFi Products earlier. With Paycer Protocol, there will be different mechanics implemented to prevent flash loans attacks. Such implementations will include the use of decentralized price oracles and automated checks.
Low Transaction Fees
The major hurdle to cross in the DeFi industry is high transaction fees. DeFi Platforms deployed on Ethereum Blockchain have experienced transaction fees more than the principal amount. Paycer tries to resolve this problem by making a pool of transactions and executing them in aggregated form. Also, it will utilize of-chain transactions for different centralized processes on Paycer.
Products and Services offered By Paycer Platform
Paycer Platform will be a web application offering multiple financial services and functionality. The main target audience would be B2C customers. It will act as a frontend to the Paycer Protocol that will be easy to use.
Some of the main services will be the following.
- Bank Account
Just like any centralized bank, paycer will allow users to open a bank account that will act as a bridge between the traditional financial system and DeFi. It will be a fully functional bank account that will require the user to do KYC while opening it. After that users can avail themselves of services like SEPA transfer. - Paycer Wallet
It will be an ERC-20 compliant wallet that will serve as an entry point between different Blockchains and DeFi Products. Users can easily transfer funds to their wallet through Paycer Bank Account and earn interest on it. Paycer will offer simple and secure services for all users ranging from beginners to experts. - Lending Platform
Paycer will offer lending services on the Paycer Platform that will allow users to take loans on providing collateral. Users will be given the choice to provide collaterals as cryptocurrencies or stable coins to reduce the risk. This lending system will be also used by yield aggregator by paycer. - Earn Return of Invest
Users can easily generate passive incomes. All the client’s deposits will be used as an investment in different DeFi products. All the amounts Deposited on the Paycer wallet will be used to generate interest. Users can claim interest daily.
Summary
Paycer will offer different kinds of products and services to users that will help them to build wealth. The products will be quite easy to use for beginners. Being a naive user, you can easily onboard onto Paycer Protocol or Platform without worrying about the dynamics working at the backend. If you are looking to try some of our services, visit our website. The Proof of concept will soon be live and more services will be added.
