Decentralized Finance or DeFi takes the components of traditional finance and replaces them with smart contracts leading to a wide range of benefits. Building more complex financial systems using blockchain smart contracts (codes that execute when certain conditions are met) enables individuals to participate in such financial activities like loans, collateralized debts, and fundraising outside of the traditional banking system while serving as a safety net against inflation.
DeFi also provides an easy way to supply money to earn interest. Lenders deposit money which is held in the smart contracts. Interest rates, loan duration, and other fine details are programmed in the smart contracts which automatically executes to send out interests as agreed. This is what DafriBank sets out to achieve by integrating DeFi protocols into its DBA tokens. Our DeFi Lending system will be deployed before the commencement of our gradual 3% monthly distribution of DBA tokens to give token holders the opportunity to increase their DBA holdings by moving them into our DafriBank DeFi Lending System. This will take place after the 13 months mandatory locking structure of the DBA tokens
What sets DafriBank's DeFi Lending system apart from other offerings in the market is DBA's many profitable use cases and a locking structure that further incentivizes its growth and unlike other projects that depend on empty hype, the hype around DafriBank is warranted and genuine.