Defibox and DeFi lending

[otto11]

Hey there ,Otto11 here again and today in the cryptosphere we will be talking about DEFIBOX and what to expect with it's upcoming feature, Defi lending.

For context : This came about as a result of Defibox's Road map for 2021 which was released earlier this week, see here -

We'll start first by understanding that there is a difference between decentralized lending and Defi lending.

And what Defi Lending is ...

it's a protocol that allow users to become lenders in a decentralized fashion , this way the users it lenders are able earn interests on their supplied assets.

How do this protocols work?

The Defibox ecosystem is maintained and controlled by a governance token called the BOX token.
The main governing body is called the Box Dao , whose primary aim is the maintenance of project operations and to promote the developments of the system to remain and stay decentralized.

Now, let me refer you back to the definition of Defi lending and while at that use Compound (Comp) as an example to help understand how things would work with Box.

Now, for lending to properly work though the main player of this procedure are the smart contracts.

As with Comp , what happens is that a user sends the tokens they want to lend into a "money market" using a smart contract which then issues interest in the platform's native token.

for Compound it'll look like this :

Note: since this is all speculation, I will like to suggest that you not go by what I think alone but wait and or actually do proper research.

For Defibox , I am thinking it'll probably look like this (moving clockwise) :

To close this off though , I want to leave you with this.

• I think now is a good time as any to buy $Box

• Hodl some USN too.

• And finally , please do your own research (#DYOR) .

• If you'd like to stay up to date on what's going on with Box .
  
  and
  Go here: https://twitter.com/defibox official on telegram here : https://telegram.me/Defibox

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