DeFi platform, KeyTango, has announced the live Beta Testing phase of their launch, allowing select members of their community to view the platform and provide feedback.
Established DeFi exchanges such as UniSwap, Balancer, and Curve, have allowed investors to gain access to the market with their products. The issue is that discovery and usability of these products have generally been too complex for most retail investors.
As a response to the many problems occupying DeFi, KeyTango promises to provide retail investors access to DeFi products, which up until now have been limited to professional investors. In their executive summary, Key Tango outlines the accessibility of their platform with features that include: tailored onboarding, and intuitive UI, and rapid exit. They aim to make DeFi truly accessible to the average person, with their Web3 application intended to provide a seamless gateway to these products.
The transformation of the DeFi space to one that is truly inclusive, has long been in the making. When DeFi became the buzz word of 2020, blockchain opportunities for fintech seemed limitless. In an industry that relies on investment, the reality is most cryptocurrency is sitting around in wallets. The idea of making money on otherwise idle cryptocurrency, attracted a great deal of attention from investors.
“Over 95% of all cryptocurrency lies idle in the holders’ wallets where they do not earn any interest. It’s mind boggling that only a paltry $39.74 billion worth of cryptocurrency is locked in DeFi in an industry worth over $1.4 trillion. Of this, only 3.85% of ETH and 0.18% of BTC is locked up in DeFi.” KeyTango commented.
While DeFi has the potential to allow individuals to reap huge rewards, the strategies and technical know-how required have excluded normal retail investors. The biggest issue early on, was that only those with proper understanding of the market were able to reap the rewards in the form of significant returns.
With this in mind, the KeyTango platform seeks to become the ‘Robinhood’ of DeFi, bringing equality to the space, and enabling newbies and professionals alike to make use of their technology.
Following the Beta Testing, the DeFi platform aims to onboard even more users in its mainnet launch.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.