The Demodyfi ICO Began Today. What Advantages Does it Offer?
Demodyfi launched its native token DMOD today, and the sale will end on May 29, 2021. This protocol supports the value interoperability between different parachains. As a result, it enables investors to trade and circulate the tokens on the Polkadot chain quickly. Demodyfi is integrating, and it combines communication between different blockchains. The project aims to raise $300 by trading 2,400,000 tokens. An ICO price is $0.25 per DMOD.
According to the team, Demodyfi utilizes Moonbeam’s parachain smart contract interoperability. Meanwhile, the Substrate framework acts as a fundamental layer. Combining these two makes building the protocol on Polkadot much easier. Besides, Demodyfi protocol is compatible with the EVM. It uses tools available from the Ethereum stack to deploy EVM-based bytecode compiled from Solidity.
Substrate and Polkadot lay the groundwork for new forms of social organization and decision-making by building on Moonbeam. On the other hand, Demodyfi platform leverages Substrate’s treasury management capabilities and governance along with Polkadot’s cross-chain messaging. It uses both of them to create a decentralized sovereign wealth fund. Demodyfi aims to fund and secure a parachain slot, as well as drive further development.
The company has the real potential to build a next-generation DEX extending its DeFi product line into a cross-chain and single-source market. The ability to provide both cross-chain swaps and pools, powered by the Polkadot ecosystem, can offer higher throughput for faster and cheaper transactions. And simultaneously guarantee connection with the Ethereum Network and other blockchains for liquidity.
How can customers use DMOD?
The DMOD token serves as the native currency for the Demodyfi protocol. The team designed the token to offer its customers traditional financial products and services without the centralized authority of banks or other financial institutions.
Demodyfi distributes the token as a reward for contributions made to the platform. It also provides access to a variety of economic incentives. For example, token holders can participate in decisions affecting the parameters of the system. Furthermore, the DMOD will have an annual inflation rate based on the initial token supply after the token sale ends.
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