INOFi Introduction Summary
INOFi Protocol's Documentation!
Last updated
INOFi Protocol's Documentation!
Last updated
The INOFi platform is designed based on three ideologies to solve the problems of the existing platform system.
1. Create valuable NFT issuance and use of already issued NFTs
2. Utilize token with a solid business model to use DeFi
3. Increase convenience by allowing users to utilize NFT, DeFi, Token, etc. on one platform
The INOFi team uses the decentralized ideology to make it easy for anyone to use and we expect to grow rapidly with four chains to meet compatibility and various needs. If you contribute to the development of the platform, you can receive compensation and benefits fairly then we plan to solve more problems with users who participated in the ecosystem construction.
First, constructing a new business on NFT itself is difficult. The start of the NFT can be viewed as the PFP model. The NFT market grew as the price was set by the rarity of PFPs, and then distributed to the market. (The rarity of PFPs is priced after that time, NFT market has grown as it has been distributed to the market.) But, with indiscriminate production of NFTs, there is a high possibility that PFP prices will also go down in markets that don't have exceptional business model.
Second, DeFi is a collection of inflation. The decentralized platform generates interest by forming pools in various ways, But this is nothing more than a scarce financial product/ That is to say, it's going to be worth less to keep issuing tokens as interest reward. Eventually, the token economy without business and use it causes inflation and is expected to decline in token value.
Third, the lack of user convenience. Token businesses such as NFT and DeFi operate on their own platforms. If you want to use it, you need to learn how to use it yourself. Unfortunately, most users need a lot of time to understand and utilize the definition, value, and circulation of tokens In the process, it is difficult to use a convenient platform from the first. The big problem is that the entry barrier to platform use is high due to the lack of user convenience.
