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DeFi Made Simple With a Nimbus Platform Review

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For some people, learning about cryptocurrency and acquiring assets isn’t an exciting opportunity, it’s more like a trip to the dentist. They know they should do it, but they’re still expecting a lot of pain. Searching through DeFi platforms is tedious and confusing if you don’t understand what you’re reading, and educational tools euphemistically called something like “crypto college” are more like post-grad seminars in computational science or finance.

For the most part, DeFi platforms have been improving their user interface and newcomer onboarding as they refine their business models. However, the blockchain-crypto-DeFi universe may still seem too complex for many people who don’t have the time or inclinations to follow the fast paced evolution of the industry. They just want to find a great platform that they can trust. But how do they judge? By the biggest name or the most ubiquitous advertising?

It’s better to find a platform built on a solid foundation that’s easy to use. Let’s take one innovative platform, Nimbus, and see how it stacks up.

All DeFi platforms use smart contracts for conducting transactions. These are the algorithms that automatically execute transactions when certain conditions are met, securely, verifiably and without any intermediary. Not all of Nimbus smart contracts are unique, but share some parts of the same logic that other platforms use, like Uniswap. It is unique that Nimbus assembled all of these parts in one place. They know that users want ease and efficiency and don’t want to find the tools they need on numerous platforms or learn how to use their various procedures.

That doesn’t mean that Nimbus hasn’t developed unique products. Other platforms offer NFTs that represent ownership of unique items like digital art or sports memorabilia, but Nimbus created the first yield-generating NFT that functions as a personalized financial strategy. Again with the goal of saving users time and fees, the Nimbus n-NFT automatically distributes assets across products while it mitigates risk and optimizes yields. For users who want more advanced strategies, Nimbus is developing a unique IPO hub. This will allow users to use their digital asset to access IPO shares without going through a brokerage or paying their excessive fees. The IPO Hub will include sophisticated evaluation mechanisms and relevant analytics for those who want them all in one place.

While other DeFi platform start-ups often outsource the development of smart contracts, Nimbus avoids outsourcing because it can be one of the most critical mistakes a start-ups can make. There may be a few acceptable reasons to outsource temporarily to avoid legal issues, introduce a new product in the market to test its acceptance, or quickly launch a product before competitors. However, the most critical problem that occurs with outsourcing is lack of control. A company doesn’t have control of the technology and it doesn’t have the product if it’s developed and held by the outsourced team. Nevertheless, the company can suffer massive financial losses if there are vulnerabilities, as DeFi history has shown.

The Nimbus Platform carefully assembled a dedicated in-house development team to prevent loss of control and mitigate against financial loss that errors can cause for their users as well as themselves. The platform leadership knows it’s critical to analyze, examine and re-examine their smart contracts to make sure they function without any weaknesses. Nimbus developers are knowledgeable about the vulnerabilities of smart contracts and have the skills to correct any errors. Nimbus smart contract developers aren’t required to have a background in finance, although they must also know the basics, because the company believes multifaceted perspectives are important.

Not all DeFi platforms provide everything that newcomers need in one place, and even some of the biggest have lost millions due the errors in smart contracts. (One of the DeFi platforms with the highest market capitalization, Compound mistakenly sent $90 million worth of cryptocurrency to its users and tried to get it back.) Finding one like Nimbus is definitely worth your crypto.

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