Beowulf Blockchain, the global leader for decentralized cloud communications, announced today their support for on-chain trading services on its centralized exchange platform Defiato.com. This groundbreaking on-chain trading service allows mass users who want to trade tokens employing the so-called tax structure (i.e. Safemoon protocol) to the transactions to do so freely without technical barriers, just as they trade with their centralized exchanges.
This service is a monumental accomplishment for the DeFi community because, when considering traditional centralized exchanges, such tax structure would not be preserved; this puts the holders of the crypto assets at a disadvantage. On the other hand, in these decentralized exchanges, the trading is inherently more difficult for the mass users who can hardly grasp the concept of public/private keys and/or the management of the Metamask. Therefore, on-chain trading may carry risks. Technological and hacking risks inherent to the handling of private keys without proper customer support may lead to the complete loss of crypto assets. For example, an average user may face the risk of losing their funds as there is a lack of proper security procedures as well as full-service processes in place to safeguard users’ assets when executing trading activities on-chain.
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DeFiato is designed to address these shortfalls from these on-chain/off-chain DeFi models. DeFiato is a centralized DeFi platform underpinned by the original vision to provide a first-of-its-kind infrastructure in the context of the “DeFi” world, while at the same time, seamlessly bridging the gap between “Fiat” and “crypto” toward mass adoption. DeFiato is the next-generation cryptocurrency platform distinguished for its simplicity and security in serving B2B and B2C customers. By relying on its user-friendly accessibility, intuitive interface, and full customer service, as well as the built-in analytics and actionable token insights for users, DeFiato is uniquely positioned to remove any barriers of entry and provide all users, even newcomers, the same ability as the big players in supporting their favorite blockchain projects, while earning rewards at the same time.
To kickstart this innovative service, we will support Binance Smart Chain with the listing of BNB, BUSD, and USDT on Wednesday, June 16, 2021. Defiato will also list SAFEMOON and FAN8 tokens subsequently on June 18, 2021. Users can start trading these tokens as well, without a barrier or metamask, while preserving the tax structure on-chain for the crypto asset holders.
“Our mission is to empower users not only to have the opportunity to earn, but also take part in the decentralization of cryptocurrency networks, and in the process, usher in a new era of blockchain and crypto adoption like never before,” said Dr. William H. Nguyen, founder of Defiato.
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