The One Altcoin Aggregating All of the Best DeFi Protocols

Isaiah McCall

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Here’s the naked truth about Uniswap: It’s ugly.

The world’s largest DeFi platform has no charm to its design — no style or panache. Everything is truncated together. There are no charts or relevant news stories like you see on popular exchange apps Robinhood or Webull.

Even the most basic elements like showing the current prices of cryptocurrencies are missing.

The UI/UX is a dumpster fire. It’s like a high school kid designed it — and that’s putting it nicely. Moreover, Uniswap or any decentralized exchange is far from being a one-stop shop for everything DeFi.

You need a platform to on-ramp your funds, another to swap them, and maybe even another to lend/borrow your crypto.

DeFi is a mess.

Someone needs to make DeFi simple. We need to take the aesthetics of Robinhood, the interoperability of PayPal and combine them with all the elements that make DeFi awesome.

Enter: DeFi aggregators

DeFi aggregators are platforms that bring together all the best DeFi protocols together into an easy-to-use aesthetically pleasing website for beginners and enthusiasts alike.

My favorite — which I believe will explode in price this year — is

PlasmaPay

What is DeFi (And why you should care)

DeFi or decentralized finance is the confluence of blockchain and traditional finance.

What makes DeFi services like Uniswap, PancakeSwap, and PlasmaPay different is they were built using open-source software and uncensorable networks.

The Benefits of DeFi include —

Insanely High APY: The average interest rate on cryptocurrencies for DeFi protocols is 6–8% and some with absurd rates of 60–90%. This is primarily due to competition, consumer demand and technological innovation which all skyrocket these numbers.

APY for staking Plasma’s native token PPAY is around 97%.

Access To New Cryptocurrencies: Freshly baked altcoins are solely released on decentralized exchanges (DEXs) like Uniswap. DeFi gives you access to the newest blockchain-based tech on a consistent basis.

Token Drops: Because these decentralized protocols have their own tokens, the community can vote for token drops or games like no-loss lotteries where one lucky winner takes home a huge crypto reward.

When Uniswap did a token drop last year Ethereum founder Vitalik Buterin said the exchange is aiding people better than the U.S. government.

Clearly, however, this feature can come with a host of issues.

What is PlasmaPay?

“We believe that ordinary people, just like you, should have all the tools you need to become the master of your own financial destiny.” — PlasmaFinance

Founded in 2018, PlasmaPay consists of PlasmaFinance and PlasmaSwap.

At its core, PlasmaFinance is a dashboard that aggregates all the best DeFi protocols. This means UniSwap, PancakeSwap, SushiSwap, Curve, Aave, Yearn and many more exchanges and tokens all in one place.

Plasma only supports non-custodial projects so that its users have complete control over their funds.

Furthermore, PlasmaFinance has its own Dex called PlasmaSwap which is insanely faster and cheaper than Uniswap. It also features Tradingview charts, analytics on tokens, trading history, and — can you believe it — even the current prices on tokens!!

Tokenomics

The PPAY token (ERC20) is the utility token of PlasmaPay and PlasmaFinance. Currently, it’s trading around .27.

According to the Plasma whitepaper

PPAY is designed as the all-in-one defi service token, enabling swaps, rewards, liquidity mining, borrowing/lending, staking and governance. The PPAY token will be used as a bridge between Ethereum, Polkadot, BSC and the zero-fee Plasma blockchain developed in-house.

The bull case for Plasma

PlasmaFinance is stampeding through the market with no end in sight.

Right now PlasmaPay is available in more than 160 countries including the United States. Additionally, in less than five minutes you can connect your wallet and purchase cryptocurrencies with a Visa or Mastercard.

Let’s talk design

Uniswap is so ugly that you forget what a clean-looking UI/UX looks like until you’re on Plasma Finance.

Plasma is one of the most aesthetically pleasing platforms in crypto. It’s a good sign if my mom can understand it.

Hopefully good UI is a trend we see more of amongst emerging cryptocurrencies.

Here are a few more benefits to note —

  • You can cash out to fiat through an ATM.
  • You don’t need to hold Ethereum to swap funds
  • Easily add to liquidity pools
  • Lend and borrow crypto
  • Simple fiat On/Off ramp
  • Cross-chain asset swap (PolkaDot, Binance, and Ethereum)

The bear case for plasma

DeFi is a hotly competitive space creating room for only a handful of companies to dominate over the next decade. This is PlasmaFinance’s biggest obstacle to overcome; they’re a niche within a niche.

There’s room for two or three DeFi aggregators and the rest will fall to the wayside.

Plasma is competing with Zerion, DeFi Saver, and Zapper to name a few. Each platform is just as popular, if not more popular than PlasmaFinance.

In DeFi, the winner takes all.

Final thoughts

Less than 2% of the world owns Bitcoin.

DeFi in itself is a niche within a niche; which makes DeFi aggregators like PlasmaFinance a niche within a niche — WITHIN another niche!

How’s that for cryptoception?

However, as crypto catches on, DeFi is will gain traction as one of its greatest applications. The interest rates and array of altcoins are just too lucrative to go unheard. This is all very timely as Venmo just enabled cryptocurrency purchases for its 70 million users.

So, in summation, the game is who will build the simplest and most interoperable DeFi system on the market. And I do believe PlasmaFinance is way ahead of the competition.

The winner goes the spoils.

Do your own research and don’t just listen to random people on the internet. This is not financial advice. All investment strategies and investments involve risk of loss. Nothing contained in this publication should be construed as investment advice.

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USA Today Reporter and Ultramarathoner. I write about Cryptocurrency, Fitness Hacks, and Greek Philosophy. Also a diehard Trekkie | mccallisaiah@gmail.com

Jersey City, NJ
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