Fintoch: Alleviating DeFi Onboarding Barriers for TradFi
We are no doubt weathering the harshest “winter” in crypto, with CoinGecko reporting a 74.6% DeFi market crash to $36 billion in Q2, 2022. What’s worse is that DeFi related hack is exacerbating this downfall. As REKT Database shown, DeFi related exploits surged significantly in May.
Despite the low morale in the crypto market, true believers continue to build in the bear market and TradFi investors are still eager to get a taste of the “hearsay” high yielding DeFi protocols.
Fintoch Investment platform, the key product of Morgan DF Fintoch LLC, enters the field to achieve this vision by enabling efficient investing, borrowing and lending. Further, it leverages zero-knowledge proof to enable high security of users’ funds.
The core feature of this P2P blockchain financial platform is called HyBriid, which draws attention of the traditional financial giant Morgan Stanley. It later joined hands with DF Technology Company to fund Morgan DF Fintoch LLC in March 2022.
Establishing projects that aim to be the “Decentralized Bank” include TrueFi, DebtDAO, Cred Protocol, Goldfinch, etc. Together, they solve an array of problems, from under-collateralized loan to onboarding real-world assets.
Yet, mechanisms implemented by the established protocols are less ideal for on-boarding TradFi retail investors. For example, Maple Finance targets institutional lending and TrueFi requires a KYC process before users can apply for borrow. We need a flatform with low entry barrier that makes crypto native investing experience possible.
Fintoch distinguishes itself by offering truly transparent and autonomous investment experiences by implementing features like short-term loan financing and lending aggregation pool. What’s more, HyBriid, Fintoch’s core feature, aims to solve security issue by leveraging zero-knowledge proof.
To bridge the gap between TradFi and DeFi money market, Fintoch has identified key issues in both fields – centralization and lack of privacy in TradFi and high volatility and exploits in the later.
With HyBriid, funds are no longer controlled by any individual entity. Rather, “multiple signature” technology requires two of the three parties – the borrower, the platform, and the supervisory node – to sign and authorize the transfer of funds.
In addition, “zero-knowledge proof” technology is used to back “multiple signature” by preventing private collusion between the borrower and the supervisory node. With the combination of the two, Hybriid reduces the risk of fund theft to near impossible and alleviating the worries of DeFi being a “Dark Forest”.
Bob Lambert, CEO of Fintoch, said: “We will uphold the original intention of “contacting finance and enjoying finance”, hoping that the general public can enjoy the services of the financial platform, thus achieving the beautiful vision of financial inclusion.”
Join Fintoch’s Twitter, Reddit, Telegram to follow up on their announcement.
About Fintoch
Fintoch is an innovative blockchain financial platform built by Morgan DF Fintoch, a Silicon Valley company from America. It is dedicated to breaking through the dilemma of traditional finance and making up for the shortcomings brought by decentralization. Fintoch provides diversified financial services such as lending, investment, and borrowing. Fintoch’s core feature HyBriid combines multiple signatures and zero-knowledge proof, which greatly promotes the development of blockchain security technology.
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