Spectre.ai’s DeFi Boost Wallet powered by Chainlink price feed enables high DeFi returns!
When we talk about exceptional changes in the ever-evolving world of cryptocurrencies, the growth of DeFi has blown everything else out of the water in 2020. From a total value locked (TVL) of $675 million on January 1st, 2020, the current TVL under DeFi was upwards of $10 billion.
In terms of adoption, DeFi protocols have taken the space by storm. One of the most intriguing features of DeFi is that decentralized protocols do not depend on frequent utilization to create value.
With the rising interest in DeFi, Spectre.ai, the first fraud-free and broker-less retail financial trading platform has introduced a new deposit option aimed specifically at crypto enthusiasts and aptly named it their DeFi Boost wallet. Nobody wants to miss the DeFi train and with Spectre.ai’s new DeFi Boost wallet, users will be able to deposit and trade with their favorite DeFi coins seamlessly on the platform.
What is Spectre?
Spectre is a digital contract trading platform that already reaches over 46,000 traders. It allows users to trade on the direction of hundreds of assets including popular currencies, commodities, stocks, and reverse futures known as EPICS, and earn up to 400% ROI, even on weekends! With trade execution times of a few milliseconds and no trade fees or gas cost, Spectre has taken a leap ahead of competitors.
What is new about the DeFi Boost Wallet?
Spectre has always offered its users the option of an off-site decentralized wallet account alongside a regular centralized one, preferred by traders accustomed to traditional markets. What makes them unique is that their platform registers its trades into blockchain technology where the information is verified across the publicly distributed ledger network.
With their wallet account, users never have to deposit in order to trade, and this ensures total transparency and complete safety of client funds. The DeFi Boost wallet allows Spectre users to trade with their top DeFi coins with the potential to earn between 70 to 400% ROI within hours, minutes, or even seconds. Spectre’s Hyper API instantly matches buyers and sellers and, in the event of a liquidity shortfall, the DALP — global decentralized and autonomous liquidity pool — steps in, ensuring constant liquidity 24/7.
Spectre.ai integrates Chainlink’s DeFi price feed to correctly evaluate DeFi assets
In 2020, Chainlink has also made a name for itself. With its resounding success in terms of market capitalization, Chainlink’s price oracle is also getting adopted by various exchanges, both centralized and decentralized. Binance entered the DeFi game and integrated its Binance Smart Contract with Chainlink. Following that, Kyber Network also started implementing Chainlink’s price feed on its KyberSwap, and KyberSwap became the third DeFi platform to involve Chainlink’s price feed.
In light of that, Spectre.ai has also opted for the best in the business, and Chainlink’s DeFi price feed will be the platform’s go-to oracle solution. Some of the major reasons for choosing Chainlink’s price are listed below:
- Chainlink provides the best on-chain analytics in order for users to independently evaluate and monitor different DeFi assets. The real-time prices of the oracle network as a whole allow a better understanding of price movement.
- Chainlink sources high-quality data from multiple independent off-chain data aggregators, guaranteeing Spectre.ai systems have accurate prices that represent the volume-adjusted aggregate across all trading environments.
- Lastly, with Sybil-resistance node operator, Chainlink assures tamper-resistance data delivery and strong security guarantees for accurate data using a decentralized network.
Ian Buck’s Spectre.ai Head of IR stated,
“We’re thrilled to be integrating Chainlink’s market-leading decentralized price reference data as Spectre’s exclusive oracle feed. The high-quality data and on-chain transparency will provide our users with strong guarantees that they are always paying the fair market price when managing their portfolio. This will further enhance our company’s core strengths, as well as position us strongly for the future in the rapidly evolving financial trading and blockchain industries.”
Verdict
With a dedicated DeFi boost wallet and ChainLink’s price feed providing accurate data, Spectre.ai users are in a great position to benefit from uniquely high levels of profitability. Look at it another way – if you stake a DeFi coin over a given period of time you will be lucky to earn an APR of just 10-20% per year whereas by trading DeFi coins on Spectre users can increase their coin balances by up to 400% within minutes or even seconds.
With the rise of DeFi in the space, decentralized finance applications are unlikely to go away but it is important to understand that DeFi is still extremely risky and hence, users should be careful and do their own research.
For more information on Spectre.ai, please check their official website. The following link will also help you understand the functionality of the DeFi Boost Wallet.
Disclaimer: This is a paid post and should not be considered as news/advice.
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