Revolution has been an integral part of human history. The need for revolution, at different points of time, has altered the industrial, political, social, commercial, and financial sectors, and transformed their facets.
The fact of the matter is Revolution has been constant, and it has been vital to building groundwork of the present world, consequently in the restructuring of society. Nowadays, the term “financial revolution” inevitably makes people think about cryptocurrency, blockchain, and of course Bitcoin.
How did it all begin?
This innovative financial revolution is assumed to have been initiated by a person named Satoshi Nakamoto in 2008. To this date, he’s an enigma for the entire world and there are not enough facts about him on the internet also. After the introduction of the first cryptocurrency that brought a revolution in the financial sector, plenty of cryptocurrencies is now being developed and traded in the market.
Along with the rise of cryptocurrency came blockchain technology. Blockchain is a system where records of all the crypto transactions are stored in a block in a way that makes it difficult or almost impossible for people to manipulate, leak, hack or change the information stored inside the blockchain. The first application of blockchain technology was cryptocurrency. Then came blockchain-based applications also called dApps (decentralized app) and Defi (Decentralized Finance).
So what is Defi (Decentralized Finance?)
It is a financial application of blockchain technology that allows peer-to-peer transactions by eliminating the intermediary, unlike the traditional transaction where a centralized entity acts as an intermediary.
There are many Defi tokens available and trading on the Defi trading platforms. One of the emerging tokens is XcelDefi. XcelDefi is a decentralized token (BEP-20) on the Binance Smart Chain blockchain network. The key principles on which XcelDefi stands are Safety, Efficiency, Transparency, and Decentralization.
XLD (XcelDefi) is the governance token for XcelSwap decentralized exchange which is one of the central verticals of the XcelLab Ecosystem. XcelSwap facilitates the users by providing the option to swap cryptocurrencies in an open decentralized network, to lend and borrow cryptocurrencies without revealing the identity of the user, and without having to depend on a mediator. XLD provides the user control over their assets through trading services and decentralized wallets that exclude the centralized organization and assist the provisioning of financial services.
Aside from the advantages of the smart contracts, XcelDefi offers users multiple use cases like staking, borrowing, lending, yield farming, book traveling, and top-ups.
With all these features to be delivered to the users along with the option where they can book traveling through a decentralized system, XLD has the opportunity to be the succeeding big Defi token in existence.
Many crypto enthusiasts would approve Defi to replace old-fashioned financial foundations, however, because of the various additional use cases along with the primary goal to disrupt the centralized travel, e-commerce, and financial sectors across the globe over the power of Blockchain technology, XLD will be more likely to bring financial revolution and be adopted by the entire world.