Xade Finance Project Overview – Bringing DeFi To Masses
Xade Finance Project Overview
In a world where digital banking is becoming increasingly prevalent, Xade Finance emerges as a seamless and user-friendly platform that brings decentralized finance (DeFi) to the masses. Read this Xade Finance Project Overview to learn more!
Founded by Harshal Madnani, Xade Finance aims to provide transparent and efficient banking services that anyone, even your grandma, can use without realizing they’ve entered the world of DeFi.
Recently, a captivating session by Dapps.co was held. The event featured a live demo of the Xade Finance platform, followed by an insightful Q&A session. Let’s dive into the key highlights of the Xade Finance Project Overview.
The Session: Exploring the Future of Digital Banking
The session began with a live demo of the Xade Finance platform, showcasing its user-friendly interface and seamless transaction capabilities. To simplify the onboarding process, users only need to enter their email address and phone number to get started.
Xade Finance Project Overview -Key Features:
With Xade, users can send payments to any email, mobile number, or wallet address without the need for gas fees, making transactions hassle-free.
One of the key features when discussing Xade Finance Project Overview is its seamless cross-chain transaction feature. Xade enables transactions across multiple blockchain networks and stablecoins, enhancing flexibility and accessibility.
Currently supporting USDC, Xade has plans to expand its ecosystem to include Euro Coin and Brazilian Real Coin, broadening its reach and user base.
Real-World Loans with Xade Finance:
Xade facilitates borrowing against tokenized real-world assets, offering users access to real-world loans in a decentralized manner.
A unique feature of Xade Finance is the ability for users to finance their EMIs on-chain, providing unprecedented convenience in the DeFi world.
Xade Finance Project Overview – Future Developments:
Xade has ambitious plans to introduce on-chain loans in the near future, expanding its lending capabilities even further.
Xade enables users to trade various asset classes, including cryptocurrencies, stocks, ETFs, and more, empowering them with a comprehensive investment experience.
Currently, available in America and soon to launch in Europe, the Xade Card offers a non-custodial payment solution powered by Visa, earning users Xade coins with every transaction.
Xade Finance Project Overview – Addressing User Queries
During the session, participants had the opportunity to ask questions and gain deeper insights into Xade Finance’s offerings. Here are some key highlights from the Q&A session:
Xade Finance Project Overview – Xade Card Availability:
Participants inquired about the availability of the Xade Card for Indian users. Harshal mentioned that the card is expected to be available in Asia, including India, no earlier than Q1 of 2024.
Utilities of the Xade Card:
Harshal explained that the Xade Card is completely non-custodial, powered by Visa, and accepted globally. Users earn Xade coins with every transaction, which can be redeemed for governance on interest rates, reducing fees on the platform, and exclusive offers, gifts, and cashback (soon to launch).
Participants questioned the functionality of off-chain assets. Harshal clarified that Xade partners with brands that tokenize real-world assets, ensuring that the assets are audited for 1:1 backing. The tokenized assets are listed on partner platforms instead of being stored on-chain. In case of loan defaults, the tokenized assets are liquidated and relisted on the partner platform.
Loans Against NFTs:
Participants inquired about loans against NFTs. Harshal specified that Xade currently supports loans against NFTs of tokenized real-world assets but not standalone NFTs.
Xade Finance Exploring New Chains:
Harshal shared that while Xade currently supports Polygon, they have plans to support other networks like Polygon Zero and Arbitrum on the mainnet.
Participants expressed concerns regarding user information security. Harshal highlighted that Xade doesn’t store personal information with the social recovery option. Wallets created via social media accounts offer 2FA, face ID, and pins. Transaction transparency is maintained as all transactions are visible on the block explorer.
Adapting to Emerging Technologies:
Harshal emphasized that Xade Finance has an advantage in terms of security, user experience, sustainability, and real-world assets since it started 1.5 years ago and has more experience compared to new protocols in the market.
Speculation on Asset Prices:
Harshal explained that Xade allows speculation on various assets, such as Bitcoin, Ethereum, Tesla, etc., using their own DeFi protocol. Xade provides 10-second funding rates, setting it apart from the industry standard of 1-hour rates. Each trade on Xade is individualized.
Participants inquired about Xade’s plans for a Fiat On-Ramp. Harshal mentioned that Xade already supports Transak, On-Ramp & Wyre.
Xade Finance Project Overview – Xade Tokens:
Harshal shared that users earn Xade coins with every transaction on the platform, which can be redeemed for Xade tokens. Additionally, Xade hosts programs where users can earn Xade tokens.
Xade Finance Project Overview – Conclusion
Xade Finance is revolutionizing the banking experience by seamlessly integrating traditional banking services with the world of decentralized finance. With its super mobile application, Xade provides a user-friendly interface that enables even the least tech-savvy individuals to access DeFi services without realizing it.
Through its innovative features like gasless payments, cross-chain transactions, and real-world loan facilitation, Xade Finance aims to bridge the gap between traditional banks and DeFi, empowering users with greater financial control and opportunities. With ambitious plans for future developments and a focus on security and user experience, Xade Finance is poised to make a significant impact in the rapidly evolving world of digital banking and DeFi.