With the launch of CoralSwap, POFID DAO is Welcoming a More Complete Ecosystem
CoralSwap recently launched to great fanfare. Coinciding with the simultaneous launch of start of liquidity mining of PFID, SERO and SUSD, the news has caused great excitement amongst PFID holders.
POFID DAO has long been actively promoting real-world use cases of its platform while improving its core cryptocurrency ecosystem. Through the POFID platform, users can pledge to generate SUSD. The use cases of SUSD include the chain platform, https://witchain.co/mobile/, the stable currency asset FAC issued by the Finple project, and also a mall ecosystem project. At the same time, a financial and wealth management ecosystem product developed by a third party, Poking, also entered the ecosystem and began to receive publicity with the support of the POFID platform.
In addition, with strong privacy protection of transactions, account assets, and smart contract input/output, POFID DAO is perfectly adapted for commercial application and is actively working to develop 2B application expansion for the “real economy”. At present, DeFi projects are mostly theoretical in nature and have little to no commercial implementation. By contrast, POFID DAO’s DeFi platform was specifically designed for third-party business applications and as such has attracted significant attention.
Providing support for third-party applications, POFID DAO is actively exploring supply chain financing in the field of cross-border trade and expanding its scope greatly. In the process of cross-border trade, both importers and exporters are involved in multiple activities, like processing cash transfers, contacting logistics providers, clearing customs, managing downstream customer accounts, using official channels for purchasing foreign exchange, etc. During this period, several problems result from the difference of currencies and the speed of communication, leading to time delays and losses for both sides. To solve the problem, POFID DAO has offered a perfect solution.
Take the import of red wine as an example. When importers import red wine from overseas, they often need to deal with multiple different countries, different currencies, and different exchange rates. In addition, the preservation and transportation of red wine is a major problem that can cause significant delays for both importers and exporters. To solve these issues, importer and exporter can simply use the POFID DAO platform to issue their own private stablecoins for transactions, with the privacy of both parties very strictly protected. With such a stablecoin, settlement and delivery between different currencies, different ports, shipping companies and freight companies no longer involve exchange rate conversion, greatly simplifying the once complex transaction settlement process.
In all, the abovementioned ecosystem support has already allowed many crypto holders to earn a significant amount, and the launch of CoralSwap will definitely bring more value to the ecosystem.
SERO, PFID, SUSD and SEED are the first four coins that participate in CoralSwap liquidity mining. The launch of CoralSwap has generated a lot of demand for both SUSD and PFID. SUSD is generated through the POFID platform, and is a stable coin minted by pledged coins on the POFID DAO platform, with PFID the token of the POFID platform. In view of the limited time of the first mining cycle, early participants can expect to receive large profit margins. Therefore, PoS POFID can get a large amount of commission dividends. As a stable currency with a relatively stable price, SUSD can be also expected to become very popular since many users prefer to use stablecoins for mining. This will all further stimulate the growth of the POFID DAO platform and the healthy development of PFID’s market value.
In this way, users with PFID can:
1. Manage POFID-based issued assets and related derivative assets, with functions including transfers, withdrawals, and the viewing of transaction records.
2. Pledge multiple digital assets types supported by the POFID platform, and additionally issue/lend out anonymous stablecoins anchored to different fiat currencies.
3. Return lent stablecoins to unlock previously pledged cryptocurrencies.
4. Use the POFID platform governance and equity token PFID to participate in staking and obtain a PFID mining income.
5. Participate in platform governance decisions through the staking of PFID tokens.
6. Through the staking of PFID, users can obtain dividend income from the entire POFID ecosystem, such as the income generated from borrowing.
To put things in simple terms, users can receive a steady stream of dividends and income as long as they hold PFID.
With the support of CoralSwap, POFID DAO has immense potential. The official team stated that, in the future, the project team will deepen cross-chain connectivity and support the pledge of more mainstream currencies such as USDT and BTC.
With POFID DAO’s strong guarantee of pledge lending and supporting for a multi-faceted ecosystem, PFID has no doubt started its journey to the moon!