The decentralized finance (DeFi) market opens up plenty of opportunities for earning, as well as cutting costs on loans and reducing transactional costs. At the same time, many users face issues upon attempting to transfer to new instruments. For example, very often entering into DeFi platforms is accessible only to tech-savvy people. This and many other problems of the decentralized finance field were solved by BaksDAO developers. Let’s dive deeper into its features and growth opportunities. What is BaksDAO BaksDAO is a multifunctional decentralized finance (DeFi) platform that among other things, allows users to get loans against crypto assets. Also, BaksDAO provides users with instruments to get passive income through providing assets for lending. The key mission of the project is to simplify the entrance into the DeFi market. To newbies, the decentralized finance market can appear complicated. Lack of drive for new technologies results in missed opportunities. For example, the DeFi market offers way more favorable terms for credits than banks. This being said, there is no need to follow verification procedures or wait for the financial organization’s approval. It is enough to send a request from the comfort of your coach and you get an instant transfer of the money. The DeFi principles help to create a transparent market. In such a market, people would not have to trust middlemen, the role of which is currently playe...
