Decentralized Finance is also known as DeFi is a set of protocols, dApps, and tools that generate an open and inclusive financial ecosystem that is available to everyone and operates without any central authority.
DeFi works through Dapp — a decentralized application that works through automated smart contracts, where any kind of intermediary is eliminated and replaced by technology.
Being based on smart contracts, we find fast and transparent networks, where everyone has access to the information. Another advantage is that anyone can access it; in the vast majority of cases, we are all equal on the network.
This all sounds good, but let's compare the pros and cons.
Why DeFi is considered a brand new financial system (Pros):
It eliminates any kind of middleman and therefore commissions, thus encouraging peer-to-peer.
From the word itself. There is no single point of failure the system itself is more resilient than a centralized one.
It is much faster and cheaper than any other network out there, as the value can be transferred in seconds no matter where the peers are.
It adapts over time, improving its system day by day.
Every transaction is visible to anyone, and everyone can access it.
How Tortle Ninja Proposes to solve the Cons:
One of the biggest problems of DeFi is having to interact with the code directly, without a very prepared interface, there are various times users have problems when using DeFi.
From Tortle Ninja, we propose an intuitive user interface where you can interact directly with DeFi without having to code — make your DeFi strategies in just a few clicks.
#2. Volatility and Risk.
Many people enter the DeFi world and lose out because of the high volatility and risk management that comes with being in such a volatile sector.
In Tortle Ninja, we have what we call "Combo Triggers" — where you can take risk management as you can stop the system with inevitable losses, this is known as "Stop Loss" in trading, but for a farm is not yet available. So it will be something innovative and a game changer.
From time to time it’s hard to know if certain DeFi products, especially farms and liquidity pools are really profitable.
With Tortle Ninja, you can watch at every moment how much you have earned or lost on a strategy like farming, swap, or liquidity pool.
#4. The Dark Forest.
There are people who called DeFi the “Dark Forest”. Bigger actors have flashbots, automatism, and big amounts of capital. They can play and win retail investors.
With Tortle Ninja, you can actually use better technology and front-run them by using Tortle Ninja Combo Recipes.
About Tortle Ninja
Tortle Ninja is a no-code decentralized financial tool built to enable retail investors, fintech, and crypto enthusiasts to create combined DeFi strategies.
Tortle users can create combinations of DeFi operations by linking the nodes and defining a strategy. You can split, create a limit, stop-loss orders, and even more complex strategies.