Kirobo Has developed a Defi-focused wallet with the ability to store and create non-fungible tokens (NFTs). Users can also connect directly to Defi protocols such as yield farms and liquidity pools.
A decentralized application (Dapp) developer is working on a range of DeFi security and usability services.
They are investing $ 5 million from Digimax in 2021 to fund this initiative, aiming to make Decentral more accessible and user-friendly to the general public.
NFT and Defi: Two fast-growing crypto-based markets
At the beginning of 2021, only a handful of crypto enthusiasts knew what a non-fungible token (NFT) was.
But according to the latest numbers $ 41 billion It was spent on NFTs by the end of the year. This makes the market for digital artwork and collectibles almost as valuable as the entire art industry.
Decentralized Finance (Defi) has also grown significantly, and the market size is $ 72 billion By February 2021.
Both of these markets are expected to grow further as crypto space continues to gain mainstream attention.
With this increasing adoption, we need tools that can be used within this sub-industry of blockchain space.
There are browser-based solutions such as MetaMask that you can use to create and save NFTs and save tokens for use with Decentralized tools.
However, phishing attacks, PC breaches, and user errors have left a significant amount of MetaMask users losing money.
Liquid Vault was developed by Kirobo to address some issues. Wallets allow users to cancel transactions and create backup wallets.
What is Liquid Vault?
Liquid Vault is a security-focused, unmanaged crypto wallet with Decentralized capabilities. Wallets allow users to interact with the Defi protocol and store cryptocurrencies and digital assets.
Wallets also allow users to save and create NFTs in their wallets. Digital content associated with tokens can be viewed through digital albums without leaving the wallet.
Liquid Vault features
The features of Liquid Vault are:
- backup- Users can create backup wallets that take control of the vault after a predefined inactivity period.
- Inheritance- This feature distributes assets from the vault to designated “heirs” and provides an unmanaged solution for cryptographic inheritance at the time of death.
- DappConnect- Users can use the Wallet Connect feature to connect Liquid Vault to any external dApp.
- Secure forwarding- “Undo button” for encrypted transfer. Allows the user to cancel the transaction until the counterparty confirms the transaction with a password sent over another channel.
- swap- Users can avoid DEX slippage by trading directly with other owners at their own price.
- No Gas Trading- Kirobo NFT holders have the opportunity to refund transaction gas charges by staking KIRO.
Dapp Connect
Users can also connect to most blockchain smart contracts via a Dapp connection. This gives users access to the following Decentralized services:
- Yield agricultural protocols such as compounds and Aave
- Decentralized Exchange (DEX) and staking platforms such as Uniswap and Sushi Swap
- Decentralized apps (dApps) including NFT marketplace, DEX, etc.
This feature is similar to the Wallet Connect feature of the MetaMask wallet.
NFT market outlook
Most individuals focus on choosing the best NFT-related projects to invest and perhaps profit from, but other ideological leaders are considering what NFTs mean for society as a whole. ..
“It’s the non-fungible tokens (NFTs) that dramatically change human civilization and culture,” analysts say. Andrew Steyn Wald.. He and others envision a fair community created on a decentralized platform that uses NFTs as governance tokens to allow users to speak about community growth.
Investment bank Jeffreys believes the NFT market is worth it $ 80 billion By 2025.
The future of decentralized finance
According to the data from DefiramaDecentralized Total Value Locked has increased from $ 700 million in December 2019 to $ 20 billion by the end of 2020 and is now $ 204 billion.
Bulls believe Defi will eventually replace the existing financial system with a layer of outdated and expensive intermediaries. This is despite the fact that Decentral currently holds only a fraction of the trillions of dollars held by traditional banks.
At this early moment of the cycle, as in the early days of e-commerce, it’s difficult to predict exactly what the landscape will look like.
However, the total addressable market is in the trillions of dollars, and given the current inaccessibility of non-cryptocurrency natives, growth will almost certainly continue.
Recruitment will increase as it becomes easier to access in the areas of liquidity provision, yield agriculture and unmanaged exchanges.
Conclusion
I think NFT will continue to draw attention, especially for Metaverse and blockchain-based games, but I think the DeFi area will continue to show significant growth.
DeFi has matured and grown last year and continues to be a state-of-the-art industry. Investors continue to be fascinated by high yields, and RDeFi takes Defi to the next level, increasing recruitment and liquidity.
As these two industries grow, so does the need for unmanaged protocols and tools.
