Fortifying the Shimmer DeFi Experience
It's hard to imagine the crypto space without DeFi, so we're particularly excited about the rapid growth of DeFi apps in our own ecosystem. With great pleasure, we announce today that Moon Vault is building a decentralized multi-chain yield aggregator, adding another chapter to the DeFi experience around Shimmer with their innovative Vault platform.
Read on to learn more about this exciting project in the founders' own words.
In designing Moon Vault, we started with the question: "What is going wrong in DeFi right now, and how can we improve the whole industry?” We worked hard to identify the current teething problems in DeFi, especially the lack of transparency, honesty and integrity. So we set ourselves the goal of improving exactly that, without of course having to cut back on maximizing user yield.
Every decision we make is oriented around what the community needs or wants from Moon Vault. We involve the community in almost every decision through our social media channels and our current governance system. The community is truly a member of our team – this goes as far as publishing our internal goals, achievements, and our progress for everyone to see.
Moon Vault gives our users the opportunity to deposit their cryptocurrencies in auto-compounding vaults. Cryptocurrencies in these vaults automatically compound rewards to optimize user profits by always investing in the most profitable vault. Trust and middlemen will become obsolete thanks to smart contracts running on Assembly, making user concerns about honesty a thing of the past.
Our goal is to create an intuitive and informative interface that enables everyone to make educated investments. Even if tokens are deposited into vaults, they are never locked. They can be withdrawn at any time and users retain 100% control over them.
Another unique aspect of our DeFi platform compared with other vaulting services or yield farms is that we don't have a farmable token. As a result, we can focus solely on offering a great service. Our non-farmable MOON token gives governance points to users and can be staked in a MOON pool for passive income.
Moon Vault has virtually no fees and no developer fees. There are no deposit fees and a very low withdrawal fee of 0.1%. In addition, we have a performance fee of 4.5%. This is used to increase the value of our MOON token and MOON pool.
Our team is spread around the world and has earned enough experience to identify the current shortcomings of DeFi, enabling us to develop a vault solution that eradicates DeFi shortcomings and gives more power to users.
DeFi is a unique opportunity and we, as early adopters, all have a responsibility to build a positive, community-focused user experience. That’s the sole reason Moon Vault exists: for the user."
To find out more about Moon Vault, follow it on Twitter or dive deeper into its website.
Moon Vault joins the Touchpoint Open Builders Program, offering participants a community of like-minded builders, direct access to experts, knowledge, and general support to launch and scale the next generation of decentralized applications and infrastructure on the Shimmer networks. You can learn more about how Touchpoint works and how to become a part of it here.
Shimmer is an L1 innovation network providing the core building blocks for a scalable, modular multi-chain architecture. Similar to the IOTA network, Shimmer is built on a UTXO-based parallelized, directed acyclic graph (DAG), guaranteeing higher scalability than conventional Blockchains. At the same time, Shimmer ensures interoperability and composability of L2 smart contract chains, capable of connecting any type of L2 smart contract chain anchored to it. With its unique tokenization framework, Shimmer will become a multi-asset ledger for feeless minting and transfer of native assets without middlemen or crippling gas fees.
The native token of Shimmer is SMR, which serves as the network’s economic backbone, facilitating value transactions and interactions within the Shimmer ecosystem. Shimmer users use the SMR token to launch new DeFi applications, DEXs, NFTs, DAOs, and other dApps.
Every project that participates in Touchpoint is given the opportunity to introduce itself in its own words. Statements made by projects are not verified by Touchpoint, Shimmer, or the IOTA Foundation and should not be taken as an endorsement. Individuals are advised to always conduct their own due diligence when engaging with any crypto projects.
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