Multiconomy

#MultiversX ecosystem products & consulting company.
Bridging #web2 to #web3 by building sustainable products & consulting.

Build sustainably within #web3 🌱

[Multiconomy @Multiconomy]

🚨 May we have your attention please 🚨

The very first on-chain KYC "SecIdentify" is LIVE on #MultiversX!

Mint you own #web3 ID now!

➡️ https://t.co/XYC4NulFXa

A new layer of security unfolds.

Leverage the power of @xMoney_com to doxx!

[Multiconomy @Multiconomy]

New website loading… 👀

[Multiconomy @Multiconomy]

Conducted a vibrant conversation with a big player in the financial vertical today 👀

To be continued…

[Project X 🧬 @ProjectX_DAO]

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[Multiconomy @Multiconomy]

@beniaminmincu Enjoy team 🔥

[Multiconomy @Multiconomy]

. @ProjectX_DAO x @Multiconomy gathering in Baia Mare 😎

Congrats on your wedding Harry - it was a blast 🔥

[Multiconomy @Multiconomy]

Education & compliance > fines & severe consequences for your entities and yourself 🧐

Dare to comply with regulation 🤓

[Joe Wu @joewu_official]

Tax is an important topic if you are serious about #crypto.

Happy that there is now direct on-chain integrations into #MultiversX for some well-known tax software.

Don't get caught out with your 100x gains. Stay compliant.

For those in tax-free regions, kudos to u 🥂

[Multiconomy @Multiconomy]

Did you know…

… that one of our team members is going to marry this weekend?

Guess who and where, #MultiversX 👀

[Multiconomy @Multiconomy]

@joewu_official Our founder always happy to push forward the #MultiversX ecosystem - even sacrificing his eyes for it 👀

[Joe Wu @joewu_official]

Milestone hit, #MultiversXCommunity!

- 27th Dec 2023 - First flagged for Chinese translation
- 1st Jan 2024 - Officially started translating

Before I started, Chinese:
- Simplified: 48%
- Traditional : 0% (non-existent)

Today, Chinese:
- Simplified : 100%
- Traditional : 100%

[Dr. X 🧬 @AnduTabacu]

The next wave is coming.

Bigger than ever.

@ProjectX_DAO on top.

[Divergent Club | BTC Loading.. @DivergentClub_]

This is our version of the "Hello World"

A new dapp is currently being birthed by @grobux for the Divergent Club @ProjectX_DAO .

We are so close and we have spent many late nights (Bubu more so!) Forming this beauty.

Ensuring it's on brand but has it's own identity too

[Multiconomy @Multiconomy]

@AnonymousX_io Amazing connect - thanks for the time and let's make it happen 💪

[Multiconomy @Multiconomy]

@offheadharry @Rupert8821 @MultiversX @DivergentClub_ Fans of Harry 😎

[Multiconomy @Multiconomy]

Expect the unexpected 👀🔥

[AsetiumX /DEVNET LIVE/ FOUNDERS SFT MINTING SOON @AsetiumX]

Let's see what doors we can open :D communication started. Let's build

[Multiconomy @Multiconomy]

@AnonymousX_io 🔥🔥

[Multiconomy @Multiconomy]

Gather and leverage the community to archive a utopia - that's the way to go 🔥

Full support for @Boiler_Room_100 & @AndreiMX_ ❤️

[Andrei @Andrei_xbt]

Introducing the evolution of @Boiler_Room_100!

Our mission: Learn. Grow. Invest. Together. #BR100

A community of dedicated individuals with a shared goal.

Curious why we did it? Check out this thread
🧵↓

P.S. 🔉 ON

[Multiconomy @Multiconomy]

@AnonymousX_io @Denzel_dast @gfusee33 @SasuRobert @PepeVersX @Davyegld @dastplatform We developed a soulbound token solution, backed by a proper KYC process - You do the KYC and receive a so called "proof of identity" as non-transferable NFT 😎

Happy to jump in DMs/ quick call to talk intricacies

[Multiconomy @Multiconomy]

Do you want to learn more about the upcoming DeFi 🌊 on #MultiversX?

Read on and dive into the upcoming $TAO bridge by @HatomProtocol 🔥

[xRobert @robolteanu]

Artificial Intelligence is one of the strongest niches in crypto, and $TAO is absolutely crushing it.

But rooted in the principles of decentralization is a thriving DeFi ecosystem that is now closer than ever to bringing new adoption for $TAO through @HatomProtocol.

With $TAO ready to enter the #MultiversX ecosystem through the TAO Bridge developed by @HatomProtocol, $TAO integration in Hatom Lending Protocol giving users access to over $120m worth of liquidity and also a Liquid Staking solution for $wTAO, things are ready to achieve new horizons for the $TAO community.

But if you are new to DeFi and you are wondering why you would actually engage with DeFi products when you can simply hold your beloved $TAO in staking or your wallet, this thread is meant to explain the benefits of these implementations and the synergies they can create.

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Just before we start, let's first understand the concept of DeFi.

DeFi stands for Decentralized Finance and has been making waves in recent years. It is a new financial system that operates on a decentralized blockchain network, allowing users to access financial services without the need for intermediaries such as banks.

Imagine it as a fresh take on the old-school financial system we're all used to — the one that depends heavily on big banks and government institutions to call the shots. Instead of having these central figures in control, DeFi flips the script by using the power of blockchain technology to run financial services. This way, everything operates on a decentralized network, meaning that you don't have to go through traditional gatekeepers to manage your money.

Its potential is massive, and the entire DeFi TVL reached an ATH of almost $250 billion before the bear market began. With the market slowly recovering and lots of new innovations in the DeFi field, it is clear again that this sector is prone to become one of the biggest sectors in the crypto space.

Behind Bitcoin's creation was the idea to establish a system of money that was not controlled by any government or central authority, one that could facilitate transactions across borders without intermediaries and their associated costs and limitations.

While things are looking way different since $BTC was created, it also improved this vision a lot; through the creation of Smart Contracts, it is now easier than ever to offer all these decentralized financial solutions to everyone across the globe. It's easier than ever to become bankless and have the power that only a few selected ones had before.

All this is possible through the vast decentralized applications that are being built in the DeFi sector.

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Okay, this sounds cool, indeed. But why should $TAO users participate in DeFi, and what is there to be gained?

There are a few different reasons why $TAO users might be looking to engage with different dApps and could benefit by doing so:

🔹Passive Income Opportunities

As I’ve mentioned already, both $wTAO and $swTAO will be integrated into Hatom’s Lending Protocol, meaning that users could easily supply their assets to access some passive income opportunities; users lending any of these assets will be able to earn passive income through the interest paid by the borrowers of the same asset.

🔹Leverage Current Holdings

Let’s face it, sometimes you need liquidity, but you know you might find yourself not wanting to sell tokens from your portfolio as you know that the asset has big potential, and I do believe that many $TAO users are in this situation. The price of TAO rose over 1100% in just a few months, and some people made insane profits. But even with these increases, $TAO still has a lot of upside potential in the next years. So, selling $TAO in case liquidity is needed might not be the best idea.

However, through @HatomProtocol, users will be able to use $wTAO or $swTAO as collateral and take a loan against it to secure some liquidity while still having exposure to $TAO directly. As I mentioned already, the protocol has over 120m in liquidity that can be accessed by the users, so there’s no need to worry about illiquid markets.

Using $swTAO as collateral to take a loan will allow users to receive staking rewards while getting the liquidity needed; you can think about it as a self-repaying loan as depending on the interest paid on the asset borrowed, the supplied position will increase faster than the borrowed position.

🔹Yield Farming Strategies

Besides the integration of both $wTAO and $swTAO in the Lending Protocol, both tokens will have different liquidity pools deployed on decentralized exchanges across the #MultiversX ecosystem. This will allow users to provide liquidity and earn trading fees, while simultaneously farming the LP token to earn additional incentives.

🔹Increased Staking Rewards

$TAO holders could leverage the power of DeFi to increase their staking rewards by a method called “Looping”. Basically, through Looping, a user will deposit $swTAO (Liquid Staked TAO) in the Lending Protocol, activate it as collateral, then take a borrow of $wTAO, stake $wTAO into the Liquid Staking Protocol, supply it back in the Lending Protocol, and repeat this loop. Of course, the profitability of this will depend on the borrow APY, but considering the markets incentivized, I think that a positive equilibrium can be found. Alternatively, users could just liquid-stake their $wTAO and supply it in the Lending Protocol, earning staking rewards + lending rewards together with any incentives offered by the protocol.

And of course, $wTAO could be further implemented in other DeFi protocols across the entire ecosystem, opening the doors for even more opportunities and yield farming strategies.

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The TAO Bridge will also act as a cross-ecosystem innovation and will help both #MultiversX and #Bittensor to raise more awareness about their products while increasing their communities. It’s a win-win synergy that will serve both projects in the long term.

The integration will unlock the full potential of the $TAO token. While many users might be fully focused on the AI side of things when it comes to $TAO, it is undeniable that the token has to have its own DeFi ecosystem.

The limitation of #Bittensor regarding smart contract developments makes it extremely challenging for $TAO to have a native DeFi ecosystem; therefore, this needs to be facilitated through other methods. There will always be users looking to interact with decentralized finance applications and looking for ways to leverage their portfolios and participate in DeFi.

And just a personal opinion, I think #MultiversX is a great ecosystem to start leveraging the power of DeFi due to its enhanced security, no MEV, low fees, and user-friendly interface. Plus, the community is open to new opportunities and new members, which makes it an exciting journey for both ecosystems.

[Multiconomy @Multiconomy]

Fraud and scam protection by SecIdentify - via a pseudo-anonymous soulbound KYC token 👀🤯

Hit us or @Denzel_dast in DM in case you want to learn more about our solutions ✉️

[Saymen.dastplatform @saymen_dast]

Thats exactly what @MultiversX needs now.
Imagine beeing an scammer, and you have to do an KYC before that, he would think twice. Also the investor will have more faith in the project itself.
@MultiversX make it happen with @Multiconomy , the product is there, just use it.