NiceCash Lets Anyone Get Maximum Out of DeFi in One Click
NiceCash launches its nVaults – a profitable instrument that offer users simple solution to maximize DeFi profit without being involved in usual routine.
DeFi is one of the hottest topics in the crypto space right now. Abbreviated as Decentralized Finance, DeFi aims to recreate the traditional financial system without middlemen through its open ecosystem where users can build various financial tools and services in a decentralized manner. Crypto experts (expect) anticipate DeFi to be the next big thing as it has gained serious market traction over the past few months. Overall market capitalization of top-100 DeFi projects reached $14 billion while Total Value Locked exceeded $11 billion.
The growth of some DeFi tokens has outperformed Bitcoin’s this year. For example, Yearn’s YFI token surged 30,000% within a few months time line which took its total market capitalization to $400M according to Coingecko.
The largest DeFi project now is Uniswap – #1 DEX with Total Value Locked of $3 billion and hundreds of millions in daily trading volume. Its business model assumes liquidity providers to collect all the trading fees and allows experienced users to make great profit. And it’s just a single way how one can make money on DeFi. There are also staking, liquidity farming, lending, insuring, arbitrage trades, wrapped assets, flash loans and other highly profitable DeFi activity that average crypto user can barely understand.
Complexity along with high expenses on fees makes it difficult for many users to join DeFi party. Solving of these two problems can lead to mass adoption of DeFi and bring even more liquidity into it. NiceCash’s mission is to make it simple for users to get profit out of DeFi like several years ago NiceHash made mining available to every housewife.
Following its mission NiceCash has launched unique solution called nVaults that allows users to earn profit by providing single asset on their choice as liquidity into one of nVaults.
Each nVault is a smart contract which allows users to choose the asset they want to earn. Since NiceCash takes out the manual hassle of researching APY’s of different DeFi protocols it also helps user to save time and expenses on fees. NiceCash nVault is one of the market’s most effective DeFi solutions for both rookies and experienced professionals.
“It’s really difficult and time-consuming to start making profit out of DeFi by yourself but we’re excited to show you a better way. We’ve created simple and user-friendly interface for interaction with nVaults. nVaults smart-contracts automatically switch liquidity across different DeFi protocols without exceeding the given risk level. With just a single instrument you’ll have access to the best opportunities of entire DeFi space,” Oleh Torkhov, CEO of NiceCash, said.
He further added:
“At NiceCash, we feel that we have finally been able to deliver a perfect solution for DeFi market that work in a SET-AND-FORGET style. All you need to do is pick and fund one of our nVaults, sit back and watch your profit grow. You’ll also save money on fees since you don’t have to pay for every transaction except the deposit one.”
NiceCash will offer 2 strategies upon a launch. Both of them will use UniSwap to generate profit. The first one “Stable-coin yield” strategy accepts liquidity in USDT and generates profit also in USDT. This strategy uses stable coin trading pairs. The second one “Ethereum-smart” strategy accepts liquidity in ETH and makes a profit in ETH using UNI token farming.
New strategies are going to be released on regular basis.
All liquidity providers of nVaults automatically take part in NCT token liquidity mining. In other words they will be rewarded with certain amount of NCT all the time they provide liquidity to one or more of nVaults.
Also users can earn 55% APY in NCT tokens by staking them into NCT nVault.