Decentralized finance (DeFi) is a popular new concept from blockchain technology which was inspired by the autocratic tendencies of the established centralized finance (CeFi) institutions like traditional banks, insurance companies, etc.
This DeFi solution is becoming widely accepted through the explosion of crypto usage. However, most DeFi platforms lack the advantages that established CeFi institutions have developed over the years e.g., validation and physicality.
AgoraBank is a crypto bank that combines the advantages of CeFi and DeFi (i.e., CeDeFi) to give users the best of both worlds from the comfort of their homes. Enjoy these benefits here.
A decentralized bank with traditional banking
AgoraBank was developed by a diverse team of well-experienced professionals who combined their extensive individual experiences in the traditional finance industry and cryptocurrency to create a comprehensive platform for financial services.
Through blockchain technology, many crypto platforms known as dApps (decentralized applications) have recently proliferated in the tech and finance space. This has created accessible, peer-to-peer financial services for people and has reasonably decentralized the finance world.
However, the easily accessible nature of blockchain technology makes it exploitable by scammers, reducing trust in crypto platforms.
AgoraBank combines the legitimacy of traditional banks and decentralization in one single application. Built with BNB and Ethereum support, It is a fully decentralized blockchain platform that distributes ownership and management among the users.
However, unlike other dApps, which may only have an e-money license, AgoraBank is an audited platform with a banking license. This makes it one legitimate decentralized platform that people can trust with their money.
In addition to legitimacy and decentralization, with AgoraBank, users can integrate cryptocurrency with their regular finance and purchase, loan, borrow, trade, exchange, or build careers with financial assets without having to visit any bank or middlemen.
Watch the AgoraBank trailer here:
DeFi features of AgoraBank (Crypto Banking)
Crypto Wallet
AgoraBank allows you to create or access your crypto wallet(s) which enables you to handle digital assets and services. The platform also promotes wallet interoperability for improved access to extensive financial services both on-chain and cross-chain.
AGO Token
This is the native token of the AgoraBank platform. With support for multiple blockchains like BNB and the Ethereum network, this token enables users to access several crypto benefits like assets, exchange, governance, etc., on the AgoraBank platform.
Created by well-experienced financial experts, the tokenomics of the coin allow it to remain valuable or even increase in value. For example, only a limited amount of the token (300 million units) will be released to avoid oversupply which reduces value.
Visit the site to participate in the initial coin offering (ICO) and obtain AGOs to become a stakeholder on the platform.
Decentralized Exchange
AgoraBank supports numerous crypto coins and allows the buying, selling, and swapping of these crypto coins at a low cost. This allows users to access decentralized exchange services, which are similar to the stock exchange or foreign exchange services offered by traditional banks but based on crypto assets.
Users can buy and sell crypto assets when their values change to make a profit, or they can just swap one coin for another preferred coin for whatever reason. They can also invest in crypto assets for future benefit.
Decentralized Governance
This is the major difference between traditional banking institutions (CeFi) and modern blockchain finance institutions (DeFi). Traditional banks have centralized management, and this creates an intermediary between users and financial assets/services, which limits transparency.
AgoraBank leverages decentralization and peer-to-peer transactions to give users a say on how their financial assets are managed. Users of Agorabank are part owners of the platform, and they can form Decentralized Autonomous Organizations (DAOs) to vote on policies that will guide the operation of the bank.
CeFi features of AgoraBank (Traditional Banking)
AgoraBank Debit Card
Unlike other decentralized finance platforms, which are entirely app-based, AgoraBank provides users with a digital app and a debit card, a banking tool they should already be used to from traditional banks. This provides a diverse means for users to transact bank and makes it easier for average people to begin using the platform.
Saving
Unlike some crypto platforms with erratic coins, AgoraBank has smart tokenomics, which maintains the value of the platform token. This and the fact that the platform is built for banking allows users to use their wallets on the platform like a savings account if they want.
Loaning and Borrowing
This is a financial service normally offered by traditional banks that can physically verify the parties involved, but Agorabank ingeniously integrates this feature with decentralized technology. Through peer-to-peer transactions or decentralized exchange, users can loan crypto assets to or borrow from the platform or other users, with AgoraBank acting as a trustworthy intermediary.
Other Benefits of AgoraBank
Become an Agora Citizen to obtain citizen rights like Agora NFT, Airdrops, Early Access, VIP status, etc.Participate in Agora adventures and turn your XP (experiences point) into cryptocurrency.Invite people to invest in AgoraBank and earn up to 45% commission from their decentralized exchange transactions and up to 9% on their ICO investment.
Disclaimer
All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.
