After the problems faced in centralized finance like Government controlling finance, Banks Exploiting etc which led to the huge rise of adoption of Decentralised Finance (De-Fi)
It is one of the fastest growing sector in the Blockchain, which allows any user to buy sell and hold any crypto assets with their total control over their assets.
Still there were some limitation in the initial De-Fi protocol, so to solve those issue new De-Fi 2.0 protocol has been built up.
In De-Fi 1.0 there were some problem like not control over liquidiity, Indepant users used to provide liquidty in the Decentralised Exchange (DEX) for rewards with good APY but they remove found better APY than current one.
This lead DEX to insufficaent liquidty in the pools and make them unstable. Problems like this are solved by De-Fi 2.0
Currently there aren't any De-Fi 2.0 Protocol on SmartBCH but it is being bought by @GoblinsCash on SmartBCH to solve this issues
Goblins
Goblins is a Decentralized Autonomous Organisation which are creating De-Fi 2.0 protocol on smartBCH.
There are about 7 DEX on SmartBCH including Ben Swap, Mist Swap, Tango etc but they all run on De-Fi 1.0 protocol.Any many of them faced the liquidity issue when individual user remove their liquidity from the pool for higher APY in another DEX.
**Goblins **will try to solve this issue with the use of Treasury reserve bonds. Which will help goblins to provide liquidity to their DEX.
Goblins have their own token called $GOB which they will give users in exchange for their Native Tokens.
They chose to launch Goblins on SmartBCH considering the varoius advatnage given by SmartBCH like, Fast transaction and very low transaction fees.
Their Aim is to develop whole Eco-system and help other projects on SmartBCH
The Project is Lauching on 31 Jan 2022
TEAM
Unlike other Projects in the De-Fi space where most of the project team remain anonymous. Globins Project team has came froward and reveal their identities to increase their trustworthiness of Goblins DAO to the SmartBCH community.
Founders
Advisors
Team Members
Image Source : Here
A cryptocurrency Hedge Fund named Fifth Khagen had invested in to support the project. Total $150,000 from which $50,000 will be used to provide liquidity at initial stage.
Future road map of Project seems very promising like introducing Lending and Borrowing. And creating their own Stable Coin
All these will help bringing more Liquidity in the pool
In the crypto world as many new projects are being introduced and most of them are doing the scams and rug pull which make huge losses to its investors and make them not to trust and support any new projects entering.
Goblins Team has implemented Multi-signature Authentication (“Multi-sig”) on their DAO Funds by which to access the funds, two out of three founder's signatures are required for the Multi-sig procedure.
This increases the overall security in Goblins DAO
Reference: Here
Final Thoughts
After reviewing their project, I am impressed with all the implementation they are going to do in the smartBCH. The future roadmap is good and I hope it performs well after launch and people accept and start using. We will see in future how the DAO performs and will it implement projects as it said.
Thank You for Reading
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