This is how the DeFi super app works for the masses

Berlin-based crypto firm Unstoppable Finance will soon launch its first product: Ultimate, a mobile app. Its goal is to give investors easy access to tried and tested providers in the field of decentralized finance (DeFi for short). The closed beta phase is planned in a few weeks.

BTC-ECHO spoke at length about the app with Peter Grosskopf, CTO and co-founder of Unstoppable Finance, earlier this week. You can listen to the interview next Wednesday, July 13, 2022 on the Experts Podcast.

“We firmly believe that DeFi wallets will be the super apps of tomorrow that put users back in control of their entire digital lives,” Grosskopf said.

Unstoppable Finance trusts Solana

DeFi protocols are already enabling billions of dollars in peer-to-peer value transfers, trading, and lending of digital assets with virtually no intermediaries. These new financial services are accessed through wallets, which play a role similar to that of the web browser of the early Internet.

Unfortunately, DeFi wallets are too complex for mainstream users. This is where Ultimate’s vision comes into play. The wallet must be intuitive, secure and simple. A special highlight: users keep their private keys, but have the option to protect them from accidental loss in the cloud.

The app will initially be based on Solana, the “fastest” blockchain. However, this has struggled in recent months with repeated complete crashes. An Ethereum integration will follow.

The offer is gradually expanding

With the first version of the wallet, users can use three protocols directly in the app. The Orca Exchange is used for trading. Lido Finance allows for liquid staking, where users can earn around 5 percent return (APY) on their Solana tokens.

Additionally, users interested in higher returns can use Friction Finance, a protocol that generates returns through automated options trading strategies currently sitting at 14 and 29 percent APY on a variety of crypto-based tokens. Solarium.

More investment opportunities will be added over time to provide investors with a wide range of investment options, earn returns from crypto assets and stablecoins, and trade assets on decentralized exchanges for the convenience of people on the go.