Blockchain technology is undoubtedly evolving traditional finance with innovative DeFi dApps and ideas popping up every single day. Surprisingly, the participants within DeFi are not provided with any exclusive options as far as trading the time-value of blockchain assets (cryptocurrencies) are concerned. The time value is calculated using interest and it fills the distance between the users having surplus assets (that they are not putting into the use) and users not having the assets (but are in need of it).
However, not only are the borrowing mechanisms in scarcity (which paves the path for the inaccurate pricing of the blockchain assets), another important issue which is concerning is the negative yield of cryptocurrencies arising out of the storage costs and risks. Since there are no natural interest rates, these costs cannot be counterbalanced or nullified which adds to the volatility of the cryptocurrencies.
It is true that the centralized exchanges facilitate the trading of the blockchain assets but at the cost of using a trust-based model which does not add significant value in the decentralized economy driven by community and have limited reach. On the other side, there are some decentralized protocols providing collateralized and uncollateralized loans on a P2P basis to the users, but the decentralization in this model can attract significant expenditures followed by conflicts for users.
This is where Gorilix Protocol will fill the gap with an innovative decentralized system that will promote the seamless borrowing of the tokens designed and built on the top of the Ethereum blockchain, utilizing EVM without any limitation as discussed above. As a result, Gorilix Protocol will empower the functioning of a proper money market and positive-yield to the users storing blockchain assets. To put it in the other words, the users will have frictionless experience while depositing and borrowing crypto, creating an opportunity for them to earn interest income on these blockchain assets.
Also, there will be no need for the users to negotiate the interest rates or maturity dates. Additionally, there will be no predefined terms and a user will be able to use Gorilix Protocol as per their own flexibility which extends to withdrawing or repaying the amount anytime. There will be no need for the users to wait for days for their loan amount to get matured because the DeFi transactions shall be processed instantaneously.
Moving forward, the Gorilix Protocol will emerge as a completely decentralized protocol that will allow the users to manage and operate this DeFi model through the native token built on Ethereum - $SILVA. The community members holding $SILVA tokens will be able to cast their votes on the protocol development proposals where one $SILVA token will be equivalent to one vote. Handing over the control to the community is the best for the Gorilix Protocol to evolve as a fully decentralized DeFi model.
Last modified 3mo ago
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