Dou you know DEFİSPOT

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11 Feb 2024

Here at Defispot, we are taking on the challenge of implementing a cross-chain, decentralized financial system.
Check out the platform here.
Our vision is to remove the barriers for everyday people from managing their finances in a permisionless environment. Our mission is to accelerate the advent of decentralized finance (DeFi) by bringing a compelling, neutral, and easy-to-use interface to the DeFi market with trustless and non-custodial transactions.
We’re seeking economic freedom for every person and business. Therefore DefiSpot is all about giving the benefits of freedom to everyone, regardless of who they are and where they live.
Say hello to the widespread adoption of decentralized finance.

TL;DR What is DefiSpot?

DefiSpot is a multichain decentralized exchange (DEX) that aims to make it possible for users to swap, lend and add/remove liquidity to cryptocurrencies without needing a centralized third-party or requiring users to provide Know-Your-Customer (KYC) details.
The platform enables users to manage and trade their assets with greater transparency in a permissionless environment with a simplified and straightforward interface. DefiSpot makes it possible for everyday people to trade in a familiar environment but with decentralization at its core.
Our industry laid the building blocks of blockchain technology to break finance free from intermediaries, cultivate a new financial system, and give power back to the users. DefiSpot follows that tradition by enabling the masses to take back control of their finances through our user-friendly DeFi platform.
But ser, how is that even possible?
DefiSpot’s user interface will bring usability to the THORChain Protocol for all users by offering a traditional UI/UX to the DeFi sector — a DEX disguised as a CEX.
The THORChain protocol is multichain, which means the swapping between assets can take place across multiple blockchains. The combination of multi-chain swaps, lending, and synths on the back-end, integrated with a modern but traditional UI/UX on the front-end, will create the same user experience as managing and converting assets back and forth on Coinbase, but decentralized.
A decentralized version of Coinbase?
Exactly, and this is because DefiSpot is the first-ever DEX to create a traditional trading experience, with isolated liquidity from liquidity providers (LPs) who want to earn interest on their assets from permissionless transactions through the network.