The main problem with DeFi is the high cost of transactions and the excessive energy consumption of the environment. The solution to this challenge is a decentralized platform that provides a complete solution for green decentralized finance.
The Energyfi platform is based on a robust and secure blockchain technology that provides smart contracts for DeFi.
In addition, first and second generation blockchains are extremely energy intensive and even though Ethereum enabled DeFi, it will need to be developed further. There are a number of issues that prevent this from happening at the moment:
- high transaction costs
- high latency
- high energy consumption
- lack of tools and protocols to facilitate adoption
- security issues
The traditional centralized model relies on many intermediaries to handle an increasing amount of transactions. This is how it works: the user owns cryptocurrencies; he wants to buy a good or a service, so he uses his cryptocurrencies as collateral for a loan contract on the Decentralized Finance Platform, which he repays at a certain date and with interest.
To achieve that, the user will have to deposit his cryptocurrency into an escrow by paying a fee to the platform.
With this traditional mechanism, we can observe two major drawbacks:
Fees: The cost of making a transaction is high and increasing due to the numerous intermediaries
Energy Consumption: The cost of handling an increasing number of transactions is not only financial but also environmental as it requires vast amounts of energy.
Energyfi once for all will eliminate all barriers to adoption by designing a complete set of open financial tools on top of EWC, which will at the same time accelerate their adoption. The project team will do so by providing the following services:
A decentralized exchange for trading tokens and cryptocurrencies, matching buyers and sellers in an instant manner with minimal fees using lightning-speed transactions.
The DEX will be powered by the EWC main-net.
The ability to conduct blockchain transactions at near-zero costs, enabling users to transact freely without paying exorbitant fees.
This is achieved through the use of the Avalanche protocol, which acts as a side chain to EWC.
Token swaps are another feature enabled by Avalanche. This means that every user on the platform can seamlessly move between different EWC tokens without having to pay high fees or wait for significant confirmations.
The Energyfi Platform is a Decentralized Finance (DeFi) application platform for developing, testing, and deploying financial dApps on the Energy Web Chain.
Energyfi is the all-in-one DeFi platform that incorporates a wide array of features, designed to enable the adoption of Green networks and the emergence of eco friendly Decentralized Finance.
Energyfi platform enables anyone to make a difference in the fight against global warming by providing a new financing mechanism for renewable energy projects. The platform provides a secure and transparent way of investing money in a fully automated manner while generating passive income.
The Energyfi platform uses a utility token called Energyfi (EFI). EFI is an Ethereum-based ERC20 token, built on top of the Ethereum Network, which will fuel all transactions within the Energyfi ecosystem.
The Energyfi platform is already live and available for everyone to use. It includes cross-chain Launchpad, DEX, Staking/Farming and Lending features. Each feature has its own set of rules, but they are all part of one big ecosystem that works seamlessly together.
EnergySwap is a decentralized exchange that focuses on green networks, making it the first of its kind. The tokenized platform allows users to experience a green and secure decentralized exchange and access different networks easily. Its team members are from different disciplines, including blockchain technology, finance, marketing and sales, with the ability to find solutions for different problems in the current blockchain ecosystem.
Furthermore, Energyfi encourages vendors to provide more sustainable solutions by creating an ecosystem that provides incentives for everyone in the supply chain: producers, suppliers and consumers alike.