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By building Demodyfi on Moonbeam, the project is able to leverage Moonbeam's underlying infrastructure, including the collators, connectivity to the Polkadot relay chain, integrations with other Polkadot-based chains to bring assets into the network, and more. This dramatically simplifies the implementation of Demodyfi on Polkadot compared to a native parachain-based implementation. However, Demodyfi aspires to use a future parachain-based implementation should we want to scale even more.
Demodyfi composes functionality from Polkadot parachains using Moonbeam as a lightweight integration layer that aggregates network services before presenting them to the end user. Users will be able to trade multiple crypto assets from Demodyfi's native decentralized exchange and use the convenient interface to manage their assets across multiple chains non-custodial, using the Metamask and Polkadot.js extension wallets.
The primary goal is to incentivize user behavior over a predefined period of time by leveraging the specific functionality of Polkadot Parachains while reaching users and assets on other Chains. In addition to this goal is to create a deflationary asset DMOD that is the bridge to the defi space to provide financial access and services while still being in control of your assets. With these goals in mind, we want to enable lower transaction fees, faster confirmations, more efficient liquidity, and the provision of key features such as flash swapping at a scalable level.
Additional, we believe that proper decentralization and interoperability is achieved through a parachain in Polkadot that brings in liquidity from other parachains, and also through the bridge protocol that connects directly to other blockchains like Ethereum. Consequently, traders have two different mechanisms to bring in liquidity. Thanks to Polkadot's ability to bridge blockchains, shards will also be able to interact with Demodyfi's financial protocol and crypto assets on external networks like Ethereum.
Demodyfi's Techstack
Last modified 8mo ago
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