A new Defi 3.0 Token Class: upTokens
As we enter the era of true DeFi 3.0 products, we must remember that comes with expanding our thinking on how things work.
The DeFi 1.0 era kicked everything off by taking existing financial products or mechanics from the old world, putting them on chain, and removing trust where possible. Lending, borrowing, trading, and more, all the traditional instruments and services now have multiple on chain counterparts.
DeFi 2.0 started to combine sub sets of mechanics from different products or instruments to create more capital efficient systems. But the mindset didn't change overall, “How do we make something people want, to generate ourselves value”, or “How do we make something more efficient to extract value”. Having these questions as your starting point will never end up with a build that helps people as much as it could.
DeFi 3.0 is here and we’re proud to be one of the teams leading the charge. How we define DeFi 3.0 is very straightforward, anything that was previously impossible to make, or anything that shouldn't be able to exist. Two great examples of this by the ROOT team are spending the same value more than once within a system using ERC-31337, or upOnly tokens that go up in price on sells and buys.
The question every team needs to ask themselves is “what doesn’t exist yet but needs to?”, or “what might be possible that wasn’t before now that we have decentralized networks?”. When teams ask these questions the result will always be amazing. But as always remember that the social layer is all that matters in the end.
As upTober Madness continues we will be dropping more innovative DeFi 3.0 products, specifically around NFT’s. This includes an upgrading system, a staking system where NFTs collect real value, and finally a new way to trade NFTs on Uniswap which is something very needed by the industry right now.
- Main site — https://rootkit.finance
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- Check out our Github — https://github.com/RootkitFinance
