The present financial systems are centralized where a central body controls the transactions between two parties.

In finance sectors, financial institutions hold this authority so when you want to open an account, invest or lend you have to provide them with all your information including the sources of your income. The centralized model also restricts access to the people based on nationality too. For example, a citizen of Australia cannot open a bank account in America. And this is what Decentralized Finance (Defi) aims to transform. 

Decentralized Finance (Defi) 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. Within the digital finance world, (Decentralized Finance) Defi has been offering usability with decentralized blockchain-based trading services which have led to massive crypto adoption where the entire transaction is carried out by smart contract. 

Keeping this in mind, XcelLab has introduced its very own Defi token, XcelDefi(XLD). The sole purpose of XLD is to provide decentralized swap, staking, liquidity, and blockchain-based lending services. 

XLD is the next-generation decentralized finance token (BEP-20) based on Binance Smart Chain. It is built on blockchain technology to disrupt the existing traditional financial ecosystem.  It is also the governance token of XcelSwap decentralized exchange, where the users can swap cryptocurrencies in a public decentralized network while being anonymous and without depending on financial institutions.

One of the amazing features of XLD is that you can book over 2.3 million hotels and over 450 plus flights all around the globe. Similarly, XLD can be stored in XcelPay Wallet, a decentralized crypto wallet to send, receive and store XcelDefi Token." Gyapu India"  an e-commerce platform is soon expected to be launched in India in August 2021, which will become the first e-commerce to accept cryptocurrency i.e XLD

Certainly, the services of traditional finance are outmoded and insecure since the central authority requests full disclosure of personal data. In contrast, the XLD offers secured decentralized service, reliability, tamperproof network, transparent accounting, along with powerful use cases like Staking, Lending, Borrowing, Yield Farming, Travelling, and Top-ups! This is why the XLD matters in the world of cryptocurrency where there are many emerging cryptocurrencies and doubts among the new investors.