Wednesday, February 1, 2023
No Result
View All Result
CONTACT
First Crypto News
  • News
  • Bitcoin
  • Ethereum
  • Industry
  • Market Updates
  • Price
  • Coins
  • Press Release
  • News
  • Bitcoin
  • Ethereum
  • Industry
  • Market Updates
  • Price
  • Coins
  • Press Release
No Result
View All Result
First Crypto News
No Result
View All Result

Savix: The Perfect Defi Solution For Passive Income

by firstcryptonews
March 7, 2021
in News
savix

Decentralized Finance (DeFi) has emerged as the biggest success story from the crypto-verse in 2020 with a market capitalization of over $40 billion. DeFi fulfills one of the key goals of Bitcoin i.e. to bank the unbanked and offers a decentralized form of banking. Users can either provide their assets to the financial system as liquidity receiving rewards in return or they can stake it for interest rates. Savix, the new DeFi protocol promises to take the DeFi experience a step further by combining these income streams while keeping full flexibility of token usage.

The main utility of the Savix protocol comes from its native token’s SVX use cases. These are:

1 : SVX self-staking protocol yields reward:

The staking mechanism built into the Savix protocol works without any need for user actions. Users don’t have to lock their tokens, don’t have to decide on pools and don’t have to claim their rewards since the staking process works completely automated

2 : SVX as a DeFi collateral coin:

SVX token holders will be able to use SVX tokens as collateral coin for investments in DeFi products compounding the rewards generated with self-staking returns.

The project is developed so that SVX staking rewards will be highest during the early project stages as trading for the token begins. On the other hand, the collateral compound use of the token will increase with time as more projects join the Savix protocol. The height of staking rewards will slowly be reduced by the time the number of partnerships with DeFi projects, for which SVX tokens can be used as collateral, will increase as well as the functionalities of the Savix DeFi dashboard will.

Savix Trinary: Redefining Passive Income

The sole purpose of the Savix ecosystem is to offer best returns through various DeFi use cases for its users. Savix Trinary is the first DeFi dapp developed by Savix developers and will offer three streams of income for SVX token holders.

  1. Staking rewards: SVX holders earn Savix staking rewards from the embedded staking protocol (First of the use cases mentioned above)
  2. Uniswap Rewards: There is a 0.3% fee for swapping tokens on Uniswap. This fee is split by liquidity providers proportional to their contribution to liquidity reserves. It is functioning as a payout to all liquidity providers proportional to their share of the pool. (Second of the use cases mentioned above)
  3. Trinary rewards: Whenever liquidity is deposited into a uniswap pool, special tokens known as liquidity tokens are minted to the provider’s address, in proportion to how much liquidity they contributed to the pool. These tokens are a representation of a liquidity provider’s contribution to a pool. With Savix “Trinary” it is possible to deposit savix liquidity tokens for up to 6 months to receive yet another reward layer: ETH from Savix’ ecosystem pool. We expect a return of 7% to 15% of the initial investment directly paid in ETH over the first 6 months. This third income stream is made possible by the specific way the Uniswap protocol works.

The Savix Dashboard will act as the User Interface to manage SVX token staking and collateral compound rewards. The Savix DeFi dashboard is designed to reduce complexity as much as possible by concentrating all functionality to the minimum required to guarantee smooth and stable processing of all functions.

The Savix Ecosystem and Upcoming IEO

The Savix ecosystem promises to translate the idea of a traditional savings account into the world of decentralized finance. Its opportunity to enable up to three streams of passive income with a single token is unique and might revolutionize the way we think of passive income. The native SVX token has a total supply of 100,000, out of which 30% will allocated towards Unicrypt presale, 20% will be locked with the Uniswap liquidity pool, 15% each will be reserved for two IEO sales at Latoken and Exmarkets exchanges. 7% of tokens are allocated for ecosystem development, 3% for bounty rewards and 5% have been distributed each within the initial presale and to the Savix team.

The first phase of the presale has commenced with great success and the crypto community is eagerly waiting for the second phase of the token sale via Initial Exchange Offering (IEO). SVX tokens are available at:

  1. Savix Exmarket IEO, 8th March:

Total Token for sale – 15,000 SVX

  1. Savix Latoken IEO, 10th March

Total Token for sale – 15,000 SVX

All unsold tokens get burned at the end of the sale, Uniswap pool and team tokens with a combined total of 25,000 SVX will be locked. The Savix protocol is built on the principles of decentralization and transparency. It is externally audited by Quillhash and is certified for ERC20 compatibility.

An ecosystem fund holding values in SVX and ETH will be set up and maintained in order to strengthen the Savix ecosystem in general and to incentivize long-term holding of Savix in particular.

Savix Makes DeFi Ready For Adoption

Savix aims to support the acceptance of cryptocurrencies and DeFi among non-tech-savvy users. Following the mission statement “Easy DeFi For Everyone” decentralized applications (dapps) developed with the Savix ecosystem will focus on GUI functionality reduced to the necessary and preconfigured functions allowing users to trigger their investments with a the “ease of a single click”. Trading, wallet and DeFi functions will be integrated into an easy-to-use GUI as this kind, the Savix DeFi dashboard.

To Know More about Savix: 

Official Website: https://savix.org/

Twitter: https://twitter.com/savix_org

Telegram: https://t.me/savix_org

Related Posts

Interest-Bearing Bonds-Backed Tokens: Generate yield using tokens backed by sovereign bonds

Interest-Bearing Bonds-Backed Tokens: Generate yield using tokens backed by sovereign bonds

by firstcryptonews
January 16, 2023
0

Vaduz, Liechtenstein. Decentralized Finance Innovator Mimo is launching “KUMA Protocol”: the first DeFi protocol issuing tokens backed by regulated NFTs, themselves...

The Connecter 4.0- The World’s First Decentralized Bottom-Up Economy

The Connecter 4.0- The World’s First Decentralized Bottom-Up Economy

by firstcryptonews
June 18, 2022
0

The Connecter is an entire decentralized platform comprising of 4 fundamental elements that together create an ecosystem- The Connecter banking,...

DX Cup – Soccer Metaverse

DX Cup – Soccer Metaverse

by firstcryptonews
March 31, 2022
0

Despite the varying geographical and political situations in different parts of the world, if there’s anything that has remained consistent...

KAZANO The currency that changes the market rules of the crypto in the world

KAZANO The currency that changes the market rules of the crypto in the world

by firstcryptonews
January 22, 2022
0

KAZANO Currency Brief Overview 1 What is the casino currency 2 What he came to solve 3 What market is...

unime

Why you’re a LOSER if you use Facebook!

by firstcryptonews
October 12, 2021
0

Facebook, Instagram and the widely-used WhatsApp messaging service all broke at the same time. Complete radio silence. The reason is...

Top Secure Encrypted Messaging Apps in 2021

Top Secure Encrypted Messaging Apps in 2021

by firstcryptonews
October 6, 2021
0

Are you using the secure messaging app? Specifically, one of those apps uses encrypted messaging. It will help you prevent...

Next Post

100k Bitcoin options set to expire: here’s what to expect from the market

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

The First Afrocentric Art-driven Token WakandaBurn is launching on Nov 21

The First Afrocentric Art-driven Token WakandaBurn is launching on Nov 21

2 months ago
ARCADE TOKEN

Arcade Token – Crypto Games all at one place.

12 months ago
EMJAC

EMJAC : Turning Waste to Gold

3 years ago
Investment Executives Of Multi-Billion Dollar Firms Are Biting The Bitcoin Pie

Investment Executives Of Multi-Billion Dollar Firms Are Biting The Bitcoin Pie

4 years ago
bitfxt exchange

Africa’s Premier Cryptocurrency Exchange Unveils Astounding Features

3 years ago
Saitama. A Future House Hold Name.

Saitama. A Future House Hold Name.

9 months ago

First Crypto News

First Crypto News

First Crypto News is the Fastest Crypto News Portal. We Bring the Best and We Bring it Fast.

Bitcoin

Amid Chinese Crackdown, America’s Foundry USA Mining Pool Enters Top Ten Spot

Amid Chinese Crackdown, America’s Foundry USA Mining Pool Enters Top Ten Spot

June 21, 2021

Recent News

Interest-Bearing Bonds-Backed Tokens: Generate yield using tokens backed by sovereign bonds

Interest-Bearing Bonds-Backed Tokens: Generate yield using tokens backed by sovereign bonds

January 16, 2023

Press Release

Pop Up World (PUW) Launches NFT Collection – Zero To Superhero

Pop Up World (PUW) Launches NFT Collection – Zero To Superhero

January 31, 2023

© 2020 First Crypto News

No Result
View All Result
  • Home
  • World
  • Science
  • Tech

© 2020 First Crypto News