The crypto industry is undergoing a transformation as it shifts towards decentralized finance (DeFi) and noncustodial platforms. Dyor, a decentralized exchange, aims to play a role in this transition by facilitating financial interactions and promoting community-driven growth.
The recent collapse of FTX, which was previously the third largest crypto exchange, has sparked increased investor interest in DeFi and noncustodial finance. In support of this trend, a report has revealed that 40% of crypto trading platforms have started adopting decentralized technology, with retail demand surpassing that of institutions.
However, the move towards Web3 and DeFi presents a learning curve, as noncustodial platforms lack user-friendly investment tools. To address this challenge, various initiatives are working towards positioning noncustodial platforms as a compelling alternative to traditional finance by improving accessibility and usability.
Dyor, a decentralized investment platform, aims to provide a simple, transparent, and noncustodial alternative for investors transitioning from traditional crypto exchanges to DeFi. It welcomes both experienced investors and newcomers to the crypto space, with the goal of becoming an accessible hub for online investing.
The Dyor platform, available on iOS and Android, incorporates features designed to enhance the user’s investment experience, including wallet swaps, bridging, asset management, and tracking. It also supports over 30 fiat currencies and provides access to multiple chains, such as Ethereum and BNB Smart Chain, all within a single wallet. Dyor offers lower fees compared to onchain and centralized exchanges, and users who stake its native token, DYOR, can receive 30% of the platform fees as rewards.
In the DeFi ecosystem, community engagement is crucial. Dyor adopts a community-centric approach by allowing users to create profiles and share their trades, token purchases, market opinions, and crypto-related insights through the “All Things Crypto” feed. The platform also aggregates news from 129 sources, providing users with a comprehensive market view. Dyor is exploring integrations with platforms like X (formerly Twitter), Discord, and other social media channels to further enhance its news aggregation capabilities.
Dyor is not just a platform for individual investors; it also facilitates community engagement and capital synergy. Through the Dyor app, investors can connect with each other and leverage mutual experiences for more advantageous deals. The platform offers a follow-trading feature, allowing users to mimic the actions of experienced investors, as well as a social investing model where investments are aligned with specific goals.
With a user-friendly interface, Dyor allows users to discover new tokens, receive live price alerts, access market news, and easily manage their assets, send tokens, and calculate their portfolio’s profit and loss (P&L). By using the platform’s native token, users can unlock premium features, advanced analytics, and discounted exchange fees. Additionally, users can earn the native token through engagement with other participants, participation in events and competitions, and by bringing new users to the platform.
Markuss Jonans, CEO of Dyor, highlights the platform’s focus on simplicity and social interaction. He mentions that the company initially anticipated having fewer than 100,000 users, but they have already received over 450,000 registrations on their waiting list. This overwhelming interest demonstrates the potential of noncustodial alternatives in the traditional finance space.
The advancements and community-driven approach of platforms like Dyor indicate that user-friendly, secure, and inclusive financial platforms will continue to shape the future of investing. As these platforms become more accessible and their benefits more widely recognized, the investment and financial services landscape will undergo a global redefinition.