Would you use a decentralized finance system to save your funds from being lost?

Hey there!

I’m trying to build a decentralized finance platform with my friends to keep your funds safe from the exploits of big centralized players like FTX, Celsius, etc.

You would get the following features in it to keep your funds safe.

**Easy google login**

You can easily login with your existing google account and use our platform to buy/sell crypto

**Gasless transaction**

You don’t need to pay any gas for any transaction that you do in our app. It’s free

**0 trading fees**You don’t need to pay any hidden fee or anything as such in trading assets in our platform

**self custody**

You will have full control of your funds as in when you want to take it out unlike centralized platform where they can block withdrawing of funds any time they want

Would you like to use this platform?


Would love to chat with you 🙂

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19 thoughts on “Would you use a decentralized finance system to save your funds from being lost?”

  1. 1. You don’t need an email login, this is why we have wallets
    1. This creates a gigantic attack vector
    2. Gasless tx exist in very little cases and require centralized to exist
    1. unless you’re referring to using a non-gas token that swaps to ETH when making a tx, please don’t use “gasless” for that because it’s misleading, or even worse Meta transaction (someone pays for the gas, not the user, but this cannot last forever without increasing fees of raising)
    3. Why are my funds safer in your system rather than my wallet?
    4. A businesses with no revenue is a bad business

    Secondly, very concerned why you either purchased reddit bots or used random reddit accounts you had laying around to make a narrative like people would want or need this.

  2. If the user doesn’t pay for gas then how can it be decentralized… your platform must be doing the actual transactions yourselves surely…?

  3. We have r/UniSwap – a decentralized exchange.

    We have r/RocketXexchange – a crypto aggregator.

    But, everyone charges a small fee. How are you planning to build/maintain it without revenue?

  4. I will love to use it if you will integrate privacy and other security measures to ensure users transact with full confidence and trust.

  5. This is something even I am looking at for a while. Seems interesting – I have been researching on this and have found some players that closely resemble this. Lets connect – Shooting you an email

  6. What are your target customers here? Making this would be challenge itself
    good luck, would love be updated on this.

  7. This could be an one stop destination for all my requirements. Lets chat on how differently you plan to execute in comparison to Argent, sequence or more players.

  8. I would love to use this platform. I have many questions about how this would be achieved.

    – Google Login (see Web3Auth: social sign in for an MPC protected wallet)

    – Gasless transactions (I’m assuming you would cover the cost of gas). This was Argent wallet’s initial model but the gas costs ended up being too high.

    What blockchain would you use?

    How do you aim to monetize?

  9. Can you please clarify what “exploits of big centralized players” means? For example, FTX was never breached… there was no hack of private keys. Specifically, what problem are you trying to solve?

    Is the problem that someone whom you trusted with your digital assets misused them? To me, it sounds like regulation and prohibiting a custodian or exchange from leveraging customer assets.

    How are you saving digital assets from being lost or stolen? Are you custodying keys? Or a guardian for a recovery key? Are you proposing a new ERC token smart contract that grants the token issuer the ability to recover tokens?

  10. I would rather have my funds in my own wallet rather than a smart contract wallet. I don’t really see the difference and I trust myself more

  11. How about take a look on LEVERFI platform? It’s a platform that is packed with innovative
    features that empower users to leverage trade and lend. Allowing traders to generate yields on their collateral used for trading. It has a unique method where traders can pool multiple types of collateral to unlock more leverage and trade in larger sizes, the Unified collateral feature. You can check more as their public beta goes live on Ethereum.

  12. How will “gasless transaction” function from a game theory point of view?
    Your competitors will flood your chain/ledger/app with dummy transactions and make it unusable if transactions are free

  13. There are some problems with this;

    1. If there are no fees whatsoever then how will you get revenue to sustain the platform
    2. If there are no fees whatsoever then how will you get revenue to sustain the platform?e, there are even privacy SDKs that are easily integrated into different platforms already so you need to follow this trend.

  14. Decentralized finance (DeFi) is an emerging field that uses blockchain technology to create decentralized and trustless financial systems.

    One of the main advantages of DeFi is that it can provide greater security and transparency compared to traditional financial systems. Because DeFi systems are built on a blockchain, they are resistant to tampering and fraud, and they provide a permanent, tamper-proof record of all transactions. Additionally, the smart contract-based system allow for automating the processes and reduces the role of intermediaries, therefore, reducing the possibilities of human errors.

    Additionally, DeFi also allows for greater accessibility to financial services for individuals and entities who might be excluded from traditional financial systems due to lack of access to credit or other services.

    However, it is important to note that the DeFi space is still new, and not all DeFi projects and protocols are equally secure and reliable. So it’s important to thoroughly research any DeFi project or protocol that you’re considering using, and to be aware of the risks. Security concerns such as smart contract vulnerabilities, flash loan attacks, and rug pulls etc. also affect DeFi systems and one has to be vigilant to protect their funds.

    In summary, DeFi has the potential to provide a more secure and transparent financial system, but it’s important to be aware of the risks and to conduct thorough research before using any DeFi project or protocol. For De-fi news updates follow [https://dripp.zone/news/](https://www.dripp.zone/news)


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