Xuirin Finance – The Future of DeFi

While there is a lot of hype and mania around the cryptocurrency industry at times, it is still considered to be in its infancy by most accounts. It hasn't yet realized its full potential, but all that could start to change with the continued innovation of DeFi through Xuirin Finance.

How we got here

What started as a simple post on the Cryptography Group site would go on to redefine modern finance as we know it. The Bitcoin white paper was first published in October 2008 by Satoshi Nakamoto. The white paper outlines the basics of blockchain technology as a digital tool for peer-to-peer transfer. Resolved the double cost issue of duplicate accounts with the same value after a transfer.

However, the revolutionary power of root block technology in 2010 It won't become a reality until 2015 after the release of the Ethereum blockchain and the advent of smart contracts. Smart contracts adopt block chain distributed ledger technology and introduce code sending transactions.

This small but significant difference means that users can send code and if they can code, they can send rules. Rules mean that transactions can be coded with parameters and conditions. If it's easy, then formulas.

The introduction of smart contracts for the industry has opened the door to unlimited potential. Any industry can use the technology for any situation-specific effect. However, finance turned out to be a good candidate for the technology. Enter DeFi.

What is DeFi?

DeFi, or decentralized finance, is the next evolution of finance. Bitcoin has managed to disrupt traditional finance's understanding of monetary policy through blockchain technology and an anonymous proof-of-work communication mechanism. It enables users to trade and store prices in time and place without obtaining permission or permission from any third party intermediaries. DeFi represents the next logical step in reinventing the financial sector.

If Bitcoin is a decentralized currency, then DeFi is equivalent to a decentralized banking infrastructure. The ability to borrow, lend, trade or store value in a decentralized manner. Effectively take over all traditional financial services.

The idea of ​​DeFi was first played out in 2014 by MakerDAO. However, MakerDAO and its lending platform will not be launched until 2017 with the controversial ICO boom. Other DeFi protocols began to emerge during this period, primarily around the concept of decentralized cryptocurrency exchanges (DEXs). However, interest in DeFi followed the same trend as the rest of the cryptocurrency industry, and as the industry crashed in 2018, interest in DeFi increased as well.

During the bull run of 2021, interest in DeFi was resurging, and new and innovative DEXs and DeFi products emerged. In the year 2022 FTX and Celcius collapse shows risk of counterparty risk in Centralized Exchange (CXX).

While interest in the space has once again declined due to the collapse of FTX, Terra Luna and Celcius, there has been a renewed appreciation for the role of DeFi. As the industry entered an extended bear market, developers learned from their past mistakes and used this time as an opportunity to rebuild a stronger DeFi space.

As the industry begins to emerge from the bear market crash of 2023, many people are beginning to look at DeFi as an improved form of finance. Projects like Xuirin Finance are leading the charge and bridging the gap between mainstream and DeFi adoption.

What is Xuirin?

Despite the technological innovation of blockchain technology and DeFi, the space is mainly occupied by fluent and native users of cryptocurrency. While it's true that crypto and DeFi are high-growth industries that are disrupting traditional finance, another hard-to-understand truth is that the adoption of the technology globally is still between 4-5 percent.

Crypto, and especially DeFi, has a user experience problem. The technology is new and exciting, but unless you're familiar with it, it's often difficult and intimidating to break into. The main objective of Xuirin Finance is to make the space available for everyday use. It aims to be a catalyst for DeFi adoption by providing practical applications by creating a strong bridge between the DeFi and fiat financial spaces.

Xuirin achieves this by developing innovative products such as intelligent crypto payment gateway, AI-enhanced peer-to-peer (P2P) lending protocol and multi-chain, non-custodial, highly secure DeFi wallet and KYC-free DeFi Debit. Cards.

DeFi debit cards

Xuirin Finance's core product is Non-KYC DeFi Debit Cards. It takes the Visa and MasterCard model of credit cards from the old financial industry and applies it to DeFi.

By creating a physical debit card that can be used in real life in the same way as consumers' traditional debit cards, Xuirin is creating an on-board entry point for consumers to access DeFi intuitively and easily.

Xuirin DeFi debit cards have several features that compete with legacy payment networks and that DeFi competition lacks. For example, Xuirin DeFi debit cards can be used digitally or physically for payments, ATM withdrawals and online payments. Also, Xuirin Debit Card has its own rewards program of up to 8% cashback (in XUIRIN Tokens) on all purchases. With traditional finance, you'll struggle to find a better rewards program on the market.

DeFi Wallet

Every bull run is ultimately unwound by one of the major centralized crypto exchanges. Mt.Gox, QuadrigaCX, FTX to name a few. As more people went into space each cycle, each failure became successively more devastating than the one before.

A major concern of centralized exchanges is that they primarily act as custodians of user assets. When the exchanges fail, they seize users' assets, often used as collateral in bankruptcy proceedings. This is where the crypto axiom “not your key, not your crypto” comes from.

Xuirin addresses this dynamic and why the future of the space is by using decentralized solutions to remove the threat of anti-party from the equation. The Xuirin DeFi Wallet is powered by a DeFi solution with smart contracts that allow users to fully own their digital assets at any time.

Not only is this an innovative approach, but it also allows non-native crypto users to easily find the level of security they need. The most amazing thing is that the integration of the DeFi wallet solution does not interfere with the user experience. Similar to traditional finance, users do not need to understand the underlying architecture of how financial transactions work in order to receive funds.

Business Payment Gateway

Xuirin Finance provides a high-tech payment gateway for businesses to accept crypto payments for goods and services. This is an important step for technological innovation in finance as it allows businesses to have seamless onboarding to accept payments from a global audience.

No more navigating traditional payment rails that can take weeks to get a final settlement. Cross-border payments are a major technological innovation for businesses looking to reach a global audience with low costs and fast final settlement.

How does Xuirin differ?

Xuirin Finance is definitely not the only Defi project on the market or the only crypto project that offers a dedicated debit/credit card service.

Centralized crypto exchange Crypto.com offers its users a similar crypto debit card rewards program. Users can top up their cards with fiat or crypto for the same benefits as Xuirin DeFi debit cards. However, there are significant differences between the two products. Best of all, Crypto.com is a centralized exchange with high KYC and AML protocols.

Because of this, the associated risks associated with CXX include the possibility that your accounts may be suspended, suspended or terminated by government regulation in your jurisdiction. Crypto.com Debit Cards also require an initial period of 6 months to earn rewards. Xuirin has a basic fee for them but the user has no requirement to share with Xuirin finance.

Summary

The DeFi space has seen several periods of growth in the cryptocurrency industry over the past few years. However, this development has remained stagnant in the crypto industry as the user experience and user interface for DeFi have historically been complex and limited for the everyday user.

Mainstream technology has revolutionized the financial world, but mainstream adoption has yet to materialize. Xuirin's innovation into the DeFi space provides a seamless onboarding experience where users can't tell the difference between the payments offered by Xuirin and DeFi. Xuirin is blurring the lines between DeFi and legacy payments, creating a fully accessible marketplace.

DeFi's space seamlessly integrates with the legacy fiat financial industry to allow 95% of the world's population to still accept crypto. Services like the DeFi debit card are critical first steps in this process. Participate in the pre-sale on the Xuirin Finance website today and explore how you can access this innovative DeFi project today.