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- 1 Belt is a protocol that allows users to retain the stability of their asset positions and get maximum yields with minimum risks.
- 2 It is a governance token that will perform optimization for the users.
Today, there are many financial protocols in the market and they help to gain a competitive advantage from previously underused customer behavior data and company data. They help by providing perfect data by performing conventional operations. Belt Finance is one such protocol that increases the DeFi experience by providing facilities like pools, vaults staking, swap, bridge, governance, etc.
It increases the yield by performing optimization. Also, it helps to earn reliable yields and exchange the assets. It is an AMM protocol with autonomous trading mechanisms. This eliminates the need for centralized authorities and other financial entities.
This means that Belt Finance allows two users to transact their assets without the interference of a third party. No intermediary is needed to facilitate the exchange. The main advantage it provides is enhanced security and transparency and the elimination of risk of a single point of failure.
The Current Data of Belt Finance
The data from CoinMarketCap shows that it has a market cap of $721, 805. It has a circulating supply of 9,550,122 BELT. The fully diluted market cap is $721,872 and the CoinMarketCap ranking is #1471.
Top cryptocurrency exchanges which list BELT are Jubi, Indodax, ELK Finance (BSC), MDEX (BSC), etc.
Services Provided By Belt Finance
The finance platform offers various services like pools, vaults, staking, swap, bridge, governance, etc.
Pools: By conducting pools it maximizes the stablecoin returns. The protocol combines major stablecoins and with the highest base yield available for maximum returns.
Vaults: It has an innovative multi-strategy yielding vault. These vaults will give simultaneous returns from different DeFi platforms. It maximizes the yield return on assets by strategically utilizing the vaults and compounding these multiple times per day.
Staking: Anyone can earn from this platform as it permits staking. The user can grow the deposit through single staking or LPing.
Swapping: Here the swapping of the stablecoins is done. Huge liquidity gives users the best rates for swapping.
Bridge: Bridge is the cross-chain asset transfer. This is offered by the platform. The user can bridge the assets cross-chain to take advantage of Belt Finance on multiple chains.
Governance: The platform is governed by a decentralized community of BELT token, stakeholders, and their voting powers.
Strategy modifying yield optimization: The platform does not have a single strategy and instead makes use of a set of strategies. It shifts and optimizes the strategy available instantly based on what is best to maximize the yields.
AMM with stable or same value token with low impermanent loss: The impermanent loss has always affected the DeFi from the start but Belt Finance offers the possibility of participating in AMM with a variety of tokens that have very low price volatility or none at all. It adds assurance to retain the token getting returns without any impermanent loss or price impact. This is because pools contain many tokens with similar values.
AMM Functionality: The AMM Functionality offers benefits to both the Makers and the Takers. Makers take the highest yield from their deposits through the strategy of modifying yield optimization, compounding, and BELT tokens. The takers take advantage of Belt Finance’s low trading fees, low slippage, and low price impact.
Advantages of Belt Finance
- It allows for the stable positioning of the assets without the fear of impermanent loss.
- It is automated and mostly optimizes the yields.
- The makers and the takers both benefit from strategies for optimization and low trading fees.
- It is completely decentralized with no need for intermediaries to perform trade and transactions. This also adds to the security and transparency which is the foremost priority of any user.
- It has a fully governance-based BELT token economy.
What are the Strategies of Belt Finance?
Belt finance was launched to provide reliable yields along with exchange assets and their optimization. It has defined the targets phase-wise in its roadmap. In phase 0 they have launched Belt.fi on BSC, and added contract audits.
In phase 1, the platform has added more pool types like single tokens, compound token pools, and non-yield stable pools. They have also implemented a cross-chain liquidity pool in this phase. For enhanced security, they have added more contract audits.
In phase 2, it has added cross-chain DeFi between Ethereum-BSC, leveraging Ethereum DeFi yield to BSC. Phase 3 includes the addition of cross-chain DeFi routes and the inclusion of BELT governance.
They have a vision to provide immense interoperability in which the returns are maximized conveniently by adding liquidity to any pool of assets of any connected chains. Making the cross-chain simple will help the DeFi to go further than multi-chain.
Improvements
Belt.fi is working on certain improvements. Some of them are
- Better automated strategy: They are working on rebalancing the ratio so that TVL deposits can be securely moved between varied strategy protocols so that the users get the highest possible APR.
- Better monitoring system: Better monitoring will increase the chance to detect the informalities immediately, avoid the frauds and help in stopping the irregularities.
- They are working on the updates of the 4 Belt system so that the swaps will become cheaper and more efficient. The complexity of the swaps and vaults has created high fees in comparison to the smaller swaps. This has made smaller swaps economical.
The changes will reduce the complexity of the swaps and vaults, thereby reducing the cost and increasing the swaps. Thus, more fee rewards and buybacks.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
