DeFi (decentralized finance) can disrupt the traditional financial services industry and bring about better financial inclusion for all. As an early mover into this space, NeoNomad is working towards that goal through its innovative all-inclusive decentralized financial ecosystem.
While most people in the west can quickly pay bills or arrange credit through the internet, the same cannot be said for the 1.7 billion unbanked people globally. Not only do these people live without a bank account, but they are also socially excluded due to factors that include low income, poor credit history, little to no savings, and the lack of trust in traditional financial institutions. Additionally, these unbanked/underbanked populations were financially impacted by the Covid pandemic.
To enable decentralized finance and foster financial inclusion, NeoNomad hopes to change this, starting with building the first all-inclusive decentralized financial ecosystem. The aim is to provide the unbanked/underbanked and the global community with more sustainable decentralized financial services.
Decentralized Sustainable Option for Financial Inclusivity
NeoNomad leverages the power of decentralized finance to enable financial inclusion by providing decentralized sustainable options to the unbanked and underbanked population. Its three-phase ecosystem is as follows:
1. The NeoNomad Decentralized Exchange
The Exchange facilitates peer-to-peer cryptocurrency trading and provides access to financial services, including; lending, yield farming, and staking. Users can trade with the platform’s $NNI coin or purchase other cryptocurrencies with it. The platform also integrates a Crypto-Visa card system that allows traders to link their cards to their cryptocurrency wallets for easy accessibility to their funds.
2. The NeoNomad Vault eBank
The eBank provides all the services of a digital banking platform. It incorporates a VISA card for immediate funds and an xchange wallet to convert cryptocurrencies to fiat currencies and vice-versa. The eBank brings a more seamless approach to banking.
3. The NeoNomad NFT Investment Marketplace
NeoNomad CAPITAL merges the trending NFT sector with the highly sustainable agriculture industry to provide long-term, high-yielding investments. Investors own NFTs, which are linked to physical dairy products like cows. As the cows become valuable, so does the NFT’s value increase.
NeoNomad to Launch $NNI IDO in February
Meanwhile, NeoNomad will launch its native token, $NNI, to raise funds for the development project. NeoNomad will launch the $NNI token through an Initial DEX Offering (IDO) on February 1, 2022. That way, community members can get their hands on $NNI tokens and increase their crypto earnings simply for holding $NNI. The NNI token also grants users access to the decentralized finance ecosystem. Moreover, all $NNI stakers will receive maker rebates as low as -0.0030%, and it costs only 2000 NNI to have 0 maker fees.
In addition to paying (nominal) trading fees in $NNI, e-bank users who have the $NNI coin in their e-bank wallet get discounts based on their holdings. NeoNomad has allocated 0.05% of the trading fees for the $NNI buyback and burn. The buyback mechanism is crucial to the ecosystem, as it takes out tokens from circulation each week, increasing the value of $NNI over time.
You can visit their website to learn more about the project and register to participate in the presale. Connect with the NeoNomad community on Telegram and keep up with the latest developments on Discord.