The world has seen different stages of evolution in the blockchain and crypto space since the birth of bitcoin, the first cryptocurrency. Alongside these advancements are new use cases that millions of people from around the world can benefit from. These include non-fungible tokens or NFTs, the metaverse, decentralized finance services, and the list goes on. 

One development that has been getting a lot of traction for the past years is the decentralized autonomous organization or DAO. It is built with the objective of paving the way for the creation of internet-native organizations that are owned and controlled by their members. You might have heard about the drawbacks that DAOs have that make you iffy about jumping in, but once you get to know what advantages these projects offer, joining one can feel like a no-brainer. Let’s take a look at the emerging DeFi platform LFi can bring to the table. 

What is LFi? 

LFi is a decentralized finance (DeFi) platform that offers decentralized products and services, under the supervision of the LFi Decentralized Autonomous Organization (L-DAO). Its community can access a variety of products such as the launchpad, decentralized exchange, lending protocol, vesting, and ranking system.  

Its vision is to create a DAO-driven global economy by providing accessible financial opportunities for crypto users worldwide. 

Services available on LFi

L-PAD 

This is the space where emerging blockchain-based projects ramp up their liquidity, helping them raise their capital by giving the LFi community early access to token sales. Each user in the community can join the private sales by holding vLFi. The high their token allocation, the more tokens a user can buy on the launchpad. 

L-DAO 

LFi gives users the power to make amendments to the platform because it is a DAO. It allows the entire community to vote for the changes that they deem necessary for the platform. Moreover, the weight of each user’s vote depends on the number of tokens they own. So the more tokens a user owns, the higher their voting power. 

LFi Minting

Minting is the process of validating information, creating a new block, and recording that information into the blockchain. 

LFi Minting is the process of issuing new LFI tokens in the circulating supply. LFi works on three different layers:

  • Proof of Stake: by being a validator of LFi Chain.
  • Proof of Coverage: by participating in the development of the Internet of People (IOP) by owning or renting hardware, activating the license and sharing IPFS.
  • Poof of Action: by performing actions such as reading how LFi works, watching advertisements, and many other services

Why Join LFi?

As per their manifesto:

“Everyone should have equal opportunities for wealth generation and financial independence. 

The time has come to bring a more inclusive financial system to the world, where the control and ownership of assets lie with the people. 

We believe in a consensus-driven financial system and shaped by the DAO. Transparency, where transactions are publicly verifiable, must prevail and the security and safety of user data are the top priority. 

The LFi Ecosystem is an innovative decentralized platform that will continue to grow with you, providing top-notch services that will adapt to your evolving needs.”

LFi is continuously adding more DeFi products and services to the ecosystem. It has transparent governance and processes to keep the community in the loop about the platform’s collective goals. Moreover, the LFi platform added multiple layers of security that can protect users’ funds, partner projects, and the entire community. 

Website 🔗 https://lfi.io/ 

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