PRIVI protocol: A customizable social and financial network
Humans are created to be a social entity, the need to relate with the environment and people of like-mind is high these days in order to live a balanced life and to keep up with the current happenings.
As civilization progresses, there has been emergence of social network platform to meet the need of human's social interaction, it includes the large coverage interaction and the close circuit interaction. Platforms like: Facebook and Twitter to mention a few has been created to help meet this need. All of these social media platforms has a common aim, which is to connect people all around the world, making the world a 'global village'. It is also very important to note that presently, there is a slow and steady move from the public social network to private communities, majorly created for people who have common interest.
Our present day world has also welcomed the emergence of the block chain system and it is now gaining large acceptance all around the world. Hence, it is necessary to also create a social network built on the block chain technology.
INTRODUCING PRIVI PROTOCOL
PRIVI protocol is a customized platform for decentralized finance (DEFI). It uses a state of art technology and carefully incorporate this new technology into already existing decentralized finance. It allow users to customize a social platform with already built financial tools that ease financial activities. It also create a new social hierarchy where communities can engage themselves; forming a human network and providing leverage for community members.
With PRIVI protocol, people can create their own social community and modify the community to suit their desire, on each community financial tasks are eased. Each community has it's own unique social and financial tool for use within the community. The communities also create a functioning DAO that makes decisions for the community operation.
Each community also have it's own minted token unique to each community and anyone seeking to view anything on the community or join the community is expected to hodl a certain amount of the community token, there are lots of mobile application for community builders to distribute their social tokens.
PRIVI FINANCIAL TOOLS
Every community has pre-built financial tools to ease financial tasks. These includes; liquidity pools, credit and lending, indexes, NFT and FT swap, social tokens, DAO Governance and insurance
PRIVI liquidity pool provider can add ERC-20 tokens and non-ERC tokens to the liquidity pool, it is equally compatible with Bitcoin. Liquidity providers on the PRIVI protocol earns transaction fees and they can withdraw at anytime and also, there is no risk of impermanent loss. Users can also exchange internal or external token including Bitcoin. Read more on the white paper here
PRIVI protocol is incorporating social token into financial application bringing social platform into the decentralized finance protocol. The PRIVI financial tools will attract new audience into the crypto currency world as anyone seeking to join any of the community is expected to hodl the community token. My bountyox username is Ruth.
Another wonderful feature of the PRIVI protocol is the PODS NFT AND FT SWAP. Pods are customizable financial and social spaces which has the capability to generate both fungible and non-fungible crypto tokens. The pods are insured by decentralized insurance pools. There is a chance for individuals who want to tokenize any asset to create their own pod, insure the pod on the decentralized insurance pools and then advertise the pod. Anyone willing to use the token is expected to buy the NFT token from the pod owner. The insurance pools protects users token both fungible and non-fungible within the pod, this insurance guarantee the safety of an individual's investment in pods. Check the website for more details
PRIVI protocol also has the credit and lending financial tool. But making it more easier, you can receive credit on PRIVI without collateral.
This is a sponsored article written for bounty reward.