Our last two articles covered some general information summarizing Decentralized Finance, reviewing Decentralized Apps (DApps), and explaining a few commonly used platforms for entering the DeFi space. We also discussed different blockchains and what implications they might have on a user’s DeFi experience.
In this article we will be expanding on user experience as we quickly realize some DeFi projects have challenges with high fees due to their connection to the ERC-20 network. Setbacks like this can, in worse-case scenarios, stall some projects from further expansion.
User’s disappointment created a need for options, and these options created market expansion, allowing protocols such as The Binance Smart Chain to gain focus and traction. The Binance Smart Chain allows for both fast transaction speeds and low fees, which is currently a huge advantage over the ERC-20 network. At the same time, it allows developers to port from Ethereum to Binance Smart Chain with ease which brings new projects to the market as well.
Why not take adventage of both chains through EcoCelium?
As we mentioned in the previous article, one of the advantages of the EcoCelium platform is that you don’t need to limit your DeFi experience to just one chain.
With the upcoming version of the EcoCelium interface it will adopt and provide support for both chains. Users will be able to swap between ERC-20 and BEP-20 tokens, easily benefitting transactions on both protocols. These options provide users optimal flexibility and control over their gains to fee ratios on their Annual Percentage Yield (APY) rewards.
The Binance Smart Chain (BSC) bridge onto EcoCelium brings multiple advantages. The platform will get lightning-speed transactions with ultra-low gas fees and PancakeSwap for trading BEP20 coins and access to Liquidity Pools to offer even more DeFi yield opportunities for its users.
In short, EcoCelium is a comprehensive DeFi platform that has been built to provide an ease of use experience for new and novice users and and at the same time provide advanced features for the more experienced ones. With the combination of the features and the APYs offered by the platform it is set to become a “monolith” in the future DeFi space.
EcoCelium has been audited by one of the “Big Four” auditing companies in the world as well by a majoor cybersecurity company.
This means EcoCelium is set to define a new standard for DeFi-platforms as one of the most comprehensive DeFi-platforms currently on the market.
It is a safe and secure smart contract system, utilizing over 43 smart contracts that interconnect with multiple DeFi yield opportunities. Users keep their assets in their private wallets while creating yield returns and remain in total control with no need to move them to an external exchange or third party.
EcoCelium offers multiple features within the marketplace. With the Wallet Connect feature, the funds remain safe and secure in the user’s private wallet’s custody via smart contract while connected to the EcoCelium platform. To be noted, EcoCelium itself is a smart contract, as a DApp where you perform yield opportunities through separate smart contracts.
The platform allows for any wallet supported by the open-source protocol “Wallet Connect” to be connected. So, no matter if you’re using Metamask, Trustwallet, or any similarly supported wallets, you can easily connect to the platform. Cold storage wallets can also be used and connected to the platform.
How do I connect to the EcoCelium platform?
First of all, go to ecocelium.org and learn more about our platform. In order to connect to EcoCelium DeFi Platform, click on the launch app button.
Then click on Connect wallet and choose your preferred wallet to connect to EcoCelium. If you select Wallet Connect, you will use any wallets supported by the open-source protocol.
Depending if you’re using a desktop or a mobile device, you will either login to your wallet and scan the QR-code through your wallet or enter your passphrase in Metamask to connect to the platform.
Note: The passphrase is not the same as the seed phrase. The seed phrase is your secret key that usually contains 12 or 24 randomly chosen words. Never enter pass phrases or seed phrases on any field or screen connected to EcoCelium nor any other online web page.
Next, taking the first steps too create yield returns with EcoCelium
Once you have connected to EcoCelium, you have entered the world of DeFi, and you are only a step away from letting your assets start working for you. To learn more about this DeFi game changer platform with its multiple features and opportunities, stay tuned for more articles to come.
If you don’t want to wait for our next articles, you can visit https://ecocelium.org/video-guide/ to take advantage of our videos tutorials explaining the different features of the platform.
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