ZenFarm is the first blockchain ecosystem to merge Decentralized Finance and Non-Fungible Tokens on a single platform, powered by Binance Smart Chain.
Brief Introduction to Decentralized Finance and Non-Fungible Tokens.
The two most popular blockchain applications currently are decentralized finance and non-fungible tokens.
What is Decentralized Finance?
Decentralized Finance, abbreviated “DeFi,” is a new open, worldwide alternative to the world’s restrictive, controlled, and centuries-old traditional financial system. DeFi allows anyone with a smartphone and an internet connection to put their money to work on their terms through investing, borrowing, lending, and trading.
DeFi, rather than using banks as intermediaries, places individuals at the center of a peer-to-peer financial system based on open-source blockchains such as Ethereum.
DeFi differs from centralized finance in that it is:
- Permissionless
- Transparent
- Composable
What are Non-Fungible Tokens?
Non-fungible tokens are blockchain-based virtual assets having distinct metadata and identification codes that identify them from one another. People cannot exchange NTFs for other assets, unlike cryptocurrencies, which they can easily trade on platforms like as NFT Era.
NFTs are created and stored on the blockchain. As a result, they can only be identified cryptographically. They are also extremely unique and scarce, which contributes to their high-value proposition. NFTs have cryptographic signatures that are native to the blockchain on which they are created and issued. Individual signatures allow users to readily determine the origins and current owners of the specific assets linked to those NFTs.
Introducing the ZenFarm Ecosystem
ZenFarm offers token owners the opportunity to determine the path of the protocol. It is simple for users to farm, lend, borrow, and make $ZFT. Overcollateralized loans are available to borrowers, and depositors who help the ecosystem’s liquidity can make passive income.
ZenFarm aims to provide decentralized community governance for the network. Individuals who own a particular amount of $ZFT token are eligible to participate in ZenFarm community governance, giving them the opportunity to vote on matters affecting the platform’s future and the capacity to regulate what happens and does not happen on it.
Features of ZenFarm Eosystem
There are six unique features of the ZenFarm Ecosystem. They include the following;
- Lending and Borrowing: Lenders can earn interest on assets continually, with algorithmic modifications based on market conditions. Additionally, users can borrow tokens in exchange for the value of earlier asset contributions.
- Governance: $ZFT token holders can propose and vote on ZenFarm governance proposals to define the current and future ZenFarm features.
- Staking: Staking rewards would incentivize members of the Zenfarm community to stake their digital assets in the decentralized market-making pools as liquidity providers.
- NFT P2P: The NFT P2P allows users control over the transaction process on ZenFarm.
- NFT Marketplace: Users can pay with the Zenfarm native token ($ZFT), and buyers and sellers can purchase NFT items on the Decentralized ZenFarm NFT Marketplace.
- Farming: ZFT Farming is designed to be the best place to farm DeFi tokens at the best price, using tried-and-true techniques and offering an amazing reward plan.
In conclusion, ZenFarm provides a user-friendly platform that allows users of both DeFi and NFT to interact on one platform effortlessly and securely.
