Decentralized finance [DeFi] is evolving; from yield farming to mining protocols, and the introduction of lending and borrowing to the crypto market, this trend is transitioning to DeFi 2.0, a new era that will be powered by decentralized reserve currency protocols [DRCP]. As the name implies, DCRP refers to currencies that are backed by a reserve, an example is how central banks manage currencies through reserved assets.
The idea behind currency-backed protocols is to restore confidence to a market where investors’ trust in projects is at an all-time low.
Albeit similar to central banks, the difference, however, is the elimination of third-party systems. DRCPs leverage the immense potential of decentralized autonomous organizations [DAO] which ensures that decisions made are agreed upon by all community members. The introduction of these reserve-backed protocols will aid in dispelling existing DeFi problems. The number of abandoned, rug pulled, and scam projects in the DeFi space have increased exponentially, partially as a result of the anonymity synonymous with DeFi as a “decentralized” market devoid of a central authority system.
Setting New Standards—MetaReserve
Designed as a DRCP, MetaReserve is a soon-to-be-launched protocol that seeks to set new standards in what has been described as the “wild wild west” of DeFi. Referred to as the upcoming star of DeFi 2.0, MetaReserve integrates a plethora of features that aim to not only solve existing DeFi problems but lay the foundation for the future proliferation of the new era.
Introducing Treasury of MetaReserve, a DAO mechanism built to empower a multiple chain-enabled Metaverse; a platform where members of the community decide on which investments to make, promising blockchain-based platforms to incubate, and partnerships, MetaReserve is setting the pace for the emergence of the new era of DeFi.
The Metaverse, as stated in a recent press release, will be designed as a virtual platform where members of the community will witness, first-hand, the birth of new blockchain games, DeFi protocols, as well as become stakeholders of these projects.
Revenue generated from the partnerships and investments will aid the growth of the Treasury while enabling cross-chain collaboration between blockchains. Business-centric, Metaverse, per the aforementioned source, is built for everyone—regardless of social class.
Unprecedentedly, MetaReserve is supported by a publicly listed company, Lion Group Holdings Limited. However, that is just a mere fraction of the highlight of the project. The vision to unite MetaReserve across multiple blockchains through the implementation of an advanced cross-chain communication layer is the core facet of this emerging project.
MetaReserves aims to become more than a DeFi protocol, it seeks to become an all-around platform offering unique services to users. The decision to launch METADEX, a decentralized exchange that will act as a home to incubated projects, is proof of the development team’s commitment to delivering an all-around product.
Together with experts from Lions Group Holdings Limited, a NASDAQ listed company, the team from Raiona Digital Asset, and the implementation of strategic planning, the execution of the Treasury will be proposed first to community members, in the process fostering a truly decentralized model—a feature absent in most DAOs.
Led by a team of forward-driven and innovative individuals like George McCluskie, Temas Pocze, Dr. Pavlo Yermilov, and other exceptional minds, MetaReserve has been built to solve real problems facing the DeFi market. Through the Treasury system, MetaReserve will invest a portion of its assets in selected nascent projects based on decisions made by the DAO. Furthermore, members of the community can earn governance tokens as well as have the right to vote for projects to be incubated or partnered with. For more updates follow the team’s
