Investing in digital assets can be a challenging task if not in sync with the trends in that space.
However, have you heard of a stablecoin? Well as per experts it is a cryptocurrency designed to have a relatively stable price, typically through being pegged to a commodity or currency.
One such start-up operating in this space is Davos Protocol, founded by Varun Satyam hailing from Vizag.
Davos Protocol claims to be the world’s first next-generation inflation-proof stablecoin protocol that enables users to have access to additional capital.
As per Varun, Davos Protocol has built a decentralized and permissionless protocol that safeguard’s against inflation, preserves wealth and purchasing power.
In addition, it gives them additional capital in terms of stablecoin without the need to sell their underlying asset.
Users can use this stablecoin to invest in new strategies and pay back the loan at less than 1% interest rate.
The protocol is built by a public smart contract enabling complete transparency and trust of how and where the asset is held as collateral. Davos Protocol doesn’t just provide access to capital, it also gives you yield for just holding those stablecoins which it states are better than traditional investment products.
“Central to this is our commitment to a balanced monetary strategy and equitable borrowing rates, ensuring users’; interests are at the forefront. Crucially, users can capitalize on their collateral’s growth potential, safeguarding their prospective gains,” said Varun adding that they take a 10% cut from the yield which is generated before distribution.
The platform empowers users to compound their earnings by using LSTs, LRTs, and other reward-bearing tokens as collateral to borrow DUSD.
This enables participation in a range of yield-generating activities within the Davos DeFi ecosystem, fostering an environment where users can enhance their yield potential and financial trajectory. Davos has served more than 1000+ clients till date.
Below is a brief snapshot of the Startup:
Founders: Varun Satyam, Filipe Gonsalves and Julian Hayward
Started: 2023
Industry: Fintech (Defi)
Number of team members: 18
Funding received: USD 2.5 Million
Claim to fame: Most innovative Technology award by Business World Web3 Awards 2023
Market of Operation: Worldwide
Revenues : USD 10 Million
Company’s culture :
Aggressive Methodical Easy Going
PTIM (Person that inspires me): Steve Jobs. It was his ability to deliver value to customers and go outside the box with a very user-centric approach.
