Decentralized Finance (DeFi) has emerged as the biggest success story from the crypto-verse in 2020 with a market capitalization of over $40 billion. DeFi fulfills one of the key goals of Bitcoin i.e. to bank the unbanked and offers a decentralized form of banking. Users can either provide their assets to the financial system as liquidity receiving rewards in return or they can stake it for interest rates. Savix, the new DeFi protocol promises to take the DeFi experience a step further by combining these income streams while keeping full flexibility of token usage.
The main utility of the Savix protocol comes from its native token’s SVX use cases. These are:
- SVX self-staking protocol yields reward:
The staking mechanism built into the Savix protocol works without any need for user actions. Users don’t have to lock their tokens, don’t have to decide on pools and don’t have to claim their rewards since the staking process works completely automated
- SVX as a DeFi collateral coin:
SVX token holders will be able to use SVX tokens as collateral coin for investments in DeFi products compounding the rewards generated with self-staking returns.
The project is developed so that SVX staking rewards will be highest during the early project stages as trading for the token begins. On the other hand, the collateral compound use of the token will increase with time as more projects join the Savix protocol. The height of staking rewards will slowly be reduced by the time the number of partnerships with DeFi projects, for which SVX tokens can be used as collateral, will increase as well as the functionalities of the Savix DeFi dashboard will.
Savix Trinary: Redefining Passive Income
The sole purpose of the Savix ecosystem is to offer best returns through various DeFi use cases for its users. Savix Trinary is the first DeFi dapp developed by Savix developers and will offer three streams of income for SVX token holders.
1. Staking rewards: SVX holders earn Savix staking rewards from the embedded staking protocol (First of the use cases mentioned above)
2. Uniswap Rewards: There is a 0.3% fee for swapping tokens on Uniswap. This fee is split by liquidity providers proportional to their contribution to liquidity reserves. It is functioning as a payout to all liquidity providers proportional to their share of the pool. (Second of the use cases mentioned above)
3. Trinary rewards: Whenever liquidity is deposited into a uniswap pool, special tokens known as liquidity tokens are minted to the provider’s address, in proportion to how much liquidity they contributed to the pool. These tokens are a representation of a liquidity provider’s contribution to a pool. With Savix “Trinary” it is possible to deposit savix liquidity tokens for up to 6 months to receive yet another reward layer: ETH from Savix’ ecosystem pool. We expect a return of 7% to 15% of the initial investment directly paid in ETH over the first 6 months. This third income stream is made possible by the specific way the Uniswap protocol works.
The Savix Dashboard will act as the User Interface to manage SVX token staking and collateral compound rewards. The Savix DeFi dashboard is designed to reduce complexity as much as possible by concentrating all functionality to the minimum required to guarantee smooth and stable processing of all functions.
The Savix Ecosystem and Upcoming IEO
The Savix ecosystem promises to translate the idea of a traditional savings account into the world of decentralized finance. Its opportunity to enable up to three streams of passive income with a single token is unique and might revolutionize the way we think of passive income. The native SVX token has a total supply of 100,000, out of which 30% will allocated towards Unicrypt presale, 20% will be locked with the Uniswap liquidity pool, 15% each will be reserved for two IEO sales at Latoken and Exmarkets exchanges. 7% of tokens are allocated for ecosystem development, 3% for bounty rewards and 5% have been distributed each within the initial presale and to the Savix team.
The first phase of the presale has commenced with great success and the crypto community is eagerly waiting for the second phase of the token sale via Initial Exchange Offering (IEO). SVX tokens are available at:
1. Savix Exmarket IEO, 8th March:
Total Token for sale - 15,000 SVX
2. Savix Latoken IEO, 10th March
Total Token for sale - 15,000 SVX
All unsold tokens get burned at the end of the sale, Uniswap pool and team tokens with a combined total of 25,000 SVX will be locked. The Savix protocol is built on the principles of decentralization and transparency. It is externally audited by Quillhash and is certified for ERC20 compatibility.
An ecosystem fund holding values in SVX and ETH will be set up and maintained in order to strengthen the Savix ecosystem in general and to incentivize long-term holding of Savix in particular.
Savix Makes DeFi Ready For Adoption
Savix aims to support the acceptance of cryptocurrencies and DeFi among non-tech-savvy users. Following the mission statement “Easy DeFi For Everyone” decentralized applications (dapps) developed with the Savix ecosystem will focus on GUI functionality reduced to the necessary and preconfigured functions allowing users to trigger their investments with a the “ease of a single click”. Trading, wallet and DeFi functions will be integrated into an easy-to-use GUI as this kind, the Savix DeFi dashboard.
To Know More about Savix:
Official Website: https://savix.org/
Twitter: https://twitter.com/savix_org
Telegram: https://t.me/savix_org