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A new dawn for SSS as it enters decentralized finance
NEW YORK, USA, November 16, 2020 /EINPresswire.com/ – SSS unveils its latest WSSS product offering to revolutionize the Ethereum and DeFi (decentralized finance) ecosystem. Since its formal introduction, Ethereum has been the largest contributor and disruptor to the DeFi ecosystem, and this has been made possible thanks to the smart contract functionality.
Ethereum is a global decentralized blockchain with smart contracts. Smart contracts give Ether the associated cryptography its value. Now, with the advancement of the Ethereum ecosystem and more specifically application programming, blockchains have been adopted to solve complex financial cases. This adoption has become known as DeFi.
Therefore, with DeFi, blockchain and associative technologies such as cryptography, their financial application in the industry has disrupted financial intermediaries such as banks and payment services such as Visa, PayPal. DeFi has been used in several cases and the following are the most popular:
Stablecoin where a token is tied to an asset that is not crypto.
Lending platforms that apply smart contracts to eliminate middlemen.
Prediction markets where users bet on the results of future events without intermediaries.
Decentralized exchanges where users trade directly with each other for their money or goods.
‘Wrapped’ or cryptographic token meaning that the token can be sent over the Ethereum network and the token can be used directly on Ethereum’s DeFi system. Interest can be earned on the “Wrapped” token on the decentralized lending platform.
Therefore, SSS chose the “Wrapped” token application and created WSSS. Development brings interoperability. And a cross-chain bridge will be built where SSS holders will be able to block SSS in the cross-chain protocol and claim WSSS allowing them to trade on Uniswap and interact with the Ethereum ecosystem. Furthermore, this will allow you to provide liquidity to the WSSS via Uniswap (the decentralized protocol for liquidity on Ethereum).
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About Simple Software Solution: SSSolutions is a software company with a renowned team of developers that focus on designing and building business-ready products that are safe and simple. The products enable the transfer of value through an accessible and standardized ecosystem that is secure, flexible and scalable. They provide blockchain-related solutions and services that have real value, are easily understood and are easily used by ordinary consumers and investors.
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