Alita.Finance represents a decentralized financial ecosystem that aims to eventually develop into a global DeFi hub for fintech enthusiasts, and it started with the Automated Market Maker-based decentralized exchange AlitaSwap as its first step towards realizing this vision.
This up-and-coming DeFi project has been evolving at breakneck speed and continuously making waves across the worldwide crypto ecosystem since its inception in early August 2021.
Soon after its debut, Alita.Finance was able to prove itself as a rising star in the DeFi universe by managing to achieve a whopping $200 million worth of total value locked (TVL) in just three weeks into being active. Its global community has been expanding at a rapid pace, reaching over 100.000 members across all social media channels in less than two months after launch.
A quick look into Alita.Finance’s recent developments as well as what it has up its sleeve for the future will help us better understand how this young and vibrant DeFi endeavor could become just another key player in the DeFi space and help expedite mass adoption of decentralized finance.
A One-Stop Decentralized Exchange
AlitaSwap decentralized protocol offers a comprehensive and ever-growing list of investment options tailored towards any user’s trading needs, ranging from
fundamental features such as swaps, liquidity pools, staking pools, farms, and all the way through to more advanced features such as an affiliate program with a 6% bonus for referring friends, the risk-free lottery, a rewarding prediction market, an Initial DEX Offering platform, and play-to-earn NFT games amongst others.
By offering an open-source platform for peer-to-peer trading with simplified and transparent transactions in conjunction with a vast variety of innovative financial products at users’ fingertips, Alita.Finance is striving for a more financially equal world, where all people are empowered to take full control of their finances and make better investment decisions.
A Community-Driven Token
ALITA (ALI) is the native utility token and the beating heart of the entire Alita.Finance ecosystem. ALI distribution mechanics provide that 100% of the total ALI supply will be distributed solely as rewards to Alita.Finance’s global user base and its strategic CEX partners’ traders within 5 years, with no single ALI reserved for the team behind the project.
ALI is currently used as staking incentives, farming rewards, and affiliate bonuses within the Alita.Finance decentralized ecosystem. The number of use cases of this token will only increase over time as more financial features and services continue being added to this ecosystem in due course.
ALI utility value is expected to increase steadily with every new financial product that Alita.Finance puts out into the market, and with this comes a substantial rise in the global demand for ALI tokens.
Moreover, the team at Alita.Finance is also committed to combating inflation and protecting users’ investments from dilution, while further boosting ALI value in the long run with their forthcoming initiative: a buyback & burn program.
The first step will involve using 0.03% of the trading fees to repurchase and burn a portion of the circulating supply of ALI each month. To date, 513.229 ALI, valued at almost $7.9 million at the time of burn, have already been burned by the
NFT gaming as the next step towards achieving mass adoption of DeFi
In addition to developing into a leading global DeFi hub for crypto enthusiasts, Alita.Finance has also been set to become an NFT gaming-focused launchpad and decentralized incubator that is committed to bringing new NFT gaming projects out of their early development stages quicker than ever before.
By allowing early-stage blockchain-based gaming projects to piggyback on top of an already established DeFi network that millions are using every day, Alita.Finance Initial Game Offering (IGO) launchpad enables small and emerging NFT games to increase their reach and visibility in the crypto ecosystem at large.
The relationship between the DeFi sector and the gaming industry has always been a mutually beneficial one. Gamers who spend countless hours playing games will now be able to monetize their time and efforts while also learning about and interacting with decentralized finance technology and applications. DeFi exchanges and the entire industry as a whole, on the other hand, will also have an easy process of onboarding new users, thus increasing mainstream adoption.