As the DeFi ecosystem starts to gain pace and catch the attention of an ever-increasing number of traders and investors, it’s the aggregator platforms that are winning much of the plaudits and users.
We’ve seen projects like Autofarm, Beefy Finance, and Pancake Bunny welcome billions of dollars in Total Value Locked (TVL), thanks to the manner in which they have forged partnerships with different DeFi farms, like Venus, Belt, and BZX.
With these projects paving the way and creating a successful early space for data aggregation platforms, the opportunity is ripe for one platform to overshadow them all and create a ship that nobody will want to jump from. Introducing TheForce.Trade, who are also developing cross-functional services between DeFi and NFTs. The recent rise of NFTs and DeFi has happened simultaneously, so there’s some logic to this synergy.
At TheForce.Trade, the development team aims to create the be-all and end-all of DeFi and NFT data aggregation. So, how exactly do we intend to innovate and cement their place in this emerging industry?
TheForce.Trade Platform — What Makes It Unique?
Firstly, what is the platform intending to do?
- Aggregate yield farming and NFT data on a large scale
- Leverage customisable smart contracts to simplify DeFi and NFT investing
- Collect and collate information on different mining pools and investments
- Present information in an easily digestible way
Why is TheForce.Trade necessary right now?
- DeFi investors may find themselves in countless pools and projects across many different platforms and discover that it’s hard or time-consuming to concurrently track their yields, coin prices, APRs and more
- Automation brings all of this data into a centralised platform, providing real-time information on yield farming and NFTs, whilst also presenting information to help mitigate risk
What will TheForce.Trade do that their competitors don’t?
- Break into the NFT space to provide NFT drops, NFT farming, and NFT tracking
- Give out mystery prizes and open the platform up for lending as well as yield farming
- Create non-financial incentives to hold the FOC governance token
- Operate primary market financing and build funding pools to thrive as an independent ecosystem that can support other startups
- Offer zero-fee auto-compounding for yield farmers — the only platform to do so
- It will not be required to lock in the FOC token to use the DeFi tools and services
- The FOC token will be used to purchase NFTs and in-game items
- TheForce.Trade will also leverage the talents and tools from countless strategic partners, including:
Who are the main competitors and how do they differ from TheForce.Trade?
- AutoFarm.Network — Purely a BSC yield farming aggregator with no NFT services. Offers yield farming with very low costs and auto-compounding, with fees already included in the offered APRs and APYs. There’s also a DeFi swap feature
- Beefy Finance — Very similar to AutoFarm, though with less functionality and transparency (no data breakdowns) and no swap features
- Bunny — Backed by Pancakeswap, where most DeFi swaps are taking place, Bunny has the advantage of auto-compounding profits straight into a CAKE pool with maximized returns and higher levels of safety. They’re also developing an innovative BSC-ETH cross-chain. Currently the largest yield farming aggregator and competitor
Despite the fast growth and notable success of these platforms, they haven’t quite captured as much interest as they’d hoped. At the time of writing, Beefy and Bunny both have 15,000 members in their Telegram group and AutoFarm has 12,000. TheForce.Trade, after being chosen by CoinMarketCap for an airdrop scheme and as a promising pick for the future, has already gathered over 57,000 Telegram followers (and over 60,000 on Twitter) before the platform has officially launched. The excitement and interest are overwhelming. But why?
Working with the DeFi community to grow an interest in aggregation tools.
Aggregation offers a huge opportunity in this emerging market
Data aggregation is commonplace in most major industries. Insurance comparison sites use the technology to offer the best deals to their visitors. News agencies do it to create more comprehensive coverage of stories. Banks and financial institutions do it to be as competitive as possible. Amazon does it to offer more products than anyone else. Google does it for, well, everything!
In the emerging DeFi space, aggregation is going to be powerful, and as yet, no data aggregator has really solidified its position as the number one choice, keeping the market innovative and competitive, but also massively volatile, with opportunistic newbies doing rug pulls and running scams. Over the next year or so, many expect to see a Binance Smart Chain aggregator really push out in front of the pack, but as of yet, it’s not obvious which project that will be. This sense of opportunity can be a great incentive for projects such as TheForce.Trade and other up-and-coming aggregator platforms.
A unique platform for a wide variety of users
TheForce.Trade aims to capture a wider portion of the market than its competitors by enabling various yield farming strategies on the same platform. Where many of their competitors ask for 4% or 5% deposit fees, TheForce.Trade will not. Where other platforms incentivise pool-hopping, TheForce.Trade will incentivise users to stay on the platform.
TheForce.Trade aims to build a one-click subscription system, various portfolio viewing management tools, and auto-reinvestment Smart Contracts, all of which are targeted at yield farmers.
For NFT collectors and investors, an NFT auction system and NFT staking will offer interesting new opportunities in the DeFi ecosystem. On the artist side, TheForce.Trade will allow creators to tokenise their artwork, generate NFTs, and auction them. It appears that this platform may offer something for all.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.