HypaSwap (HYPA) Is Solving Issues That Relates to Blockchain Borrowing And Lending While Understanding The Ethereum Blockchain As Well
Crypto investors and enthusiasts do not always focus on the next cryptocurrency to explode in 2022. However, some investors are looking for platforms that enable them to lend out funds to make more gains when the funds are returned. Also, as relates to blockchain, HypaSwap and Ethereum are good blockchain platforms that promote the forward potentiality of blockchain.
Ethereum is an open-source, decentralized blockchain platform with its in-house cryptocurrency – ETH or Ether. However, the Ethereum blockchain also functions as a platform for numerous other cryptocurrencies. In addition, it also allows for the execution of decentralized smart contracts.
However, the Ethereum blockchain was first mentioned and described in a whitepaper in 2013. As a result, the Ethereum foundation officially launched in 2015, and since then, it has gone through several updates. Therefore, the main goal of this platform is to become a global platform for other decentralized applications.
Also, the Ethereum platform allows users worldwide to write and run software resistant to censorship, fraud, and downtime. The Ethereum platform has eight founders, which according to record, is a large number for a crypto project. However, all these founders have been significant to the growth of this blockchain platform.
In addition, the Ethereum blockchain pioneers the concept of a blockchain smart contract platform. However, the simple definition of smart contracts is that they serve as computer programs that automatically carry out the actions necessary to fulfill an agreement between several parties on the internet. Also, smart contracts were designed to reduce the need for trusted third parties or intermediaries for contract transactions.
However, the HypaSwap blockchain functions on the Ethereum network as an ERC-20 token. Therefore, the Ethereum blockchain acts as a platform for facilitating the DeFi-based HypaSwap platform.
What Connects HypaSwap (HYPA) Lending And Borrowing-based Blockchain As It Relates To Ethereum?
Ethereum has gained widespread popularity for its massive DeFi and NFTs induced platform. Although it runs on the proof-of-work consensus, this platform has maximally incorporated its great potential into the various platforms on its blockchain. Also, DeFi and NFTs are very much important to a crypto enthusiast.
However, the proof of work mechanism of Ethereum is used to ensure that nodes in the network can record transactions on the blockchain in a decentralized manner. As a result, in the PoW mechanism, miners compete against one another to solve mathematical puzzles, in which the first to solve it wins the right to update the ledger. This update is done by appending a new block to the chain, and in return, they earn minted coins.
HypaSwap primarily focuses on lending and borrowing. The HYPA platform creates a robust system in which transactions like staking without the risk of losing capital to fraud or default loans. As a result, borrowers on the HypaSwap platform are required to over-collateralize the loan, ensuring that lenders are paid in all scenarios with interest rates.
Also, the HypaSwap platform lays down a comprehensive structure for community members to actively participate in extra-banking activities like staking and collateral swapping. However, on the HypaSwap platform, members are encouraged to stake more tokens to get higher investment returns and rewards for their active involvement. Therefore, the HypaSwap platform understands the vulnerability of lending and borrowing. Thus, the HYPA platform has devised a strategy to fully understand the risk factors and create a safety net for each of them.
HypaSwap has proven to be better than its competitors through its plan to make an aggressive approach to innovation and cover all shortcomings and the risk associated with other competitors. Also, the HypaSwap platform aims to provide various tokens for versatility in lending and borrowing. Furthermore, the HypaSwap platform has proven to do it better because it focuses on high liquidity pools rather than high liquidity pools used by other platforms. This is done to provide a high liquidity market for its users.
In addition, the HypaSwap platform also provides bonus profits for its users. As earlier mentioned, the platform offers its users a variety of token types; this platform also provides its users with various profit percentages related to different tokens. For instance, a deposit made in ETH automatically accrues users to 11% profit, BNB- 20%, USDT TRC-20 – 15%, and so on. However, the HypaSwap platform functions as an ERC-20 token itself.
The HypaSwap platform is a unique platform for lending and borrowing and provides its users with wide-scale benefits while catering to them in many other areas.
Link: HypaSwap (HYPA)