image source
OroPocket is a fintech protocol that enables custody of real world assets on blockchains and allows developers to build application on it. This protocol allows seamless integration of other on-chain apps and also allow multiple-chains to cross-share the asset classes. Institutional investors and fund can take part in blockchain, crypto and Defi economy as Open Finance has removed hurdles of price slippage and offer high liquidity and instant settling while offering complete insurance and custodianship of physical assets.
The gap between traditional finance and decentralized finance is now bridged. With Open Finance, you can create a yield on real world assets like Gold,Silver, Stocks e.t.c which enables long term investors to create more value on their assets.
The Open Finance Protocol which is a project developed by Oropocket gives the detail if inherent governance token use-cases, limitations and future scope.
Oropocket
Oropocket is an asset backed banking.
Oropocket is created because of the ways traditional monetary system(fiat banking) has failed woefully. The traditional monetary system has failed in the following areas.
- Loss of money value due to inflation.
- Banks gambling with users funds.
- Exorbitant interest rates.
- Political influence on economic policies that results in short term gains and also create long term negative impacts.
- Shady transactions.
- Government or central bank influence placing restrictions on use of funds.
- Placing limitations to funds.
- People have no banking access.
Now Oropocket has created alternative on the use of fund by using Oropocket in which you can invest instantly and the tool offer in Oropocket that help you invest your assets include:
- Transfer of asset to any user globally without hinderance.
- Use if asset-backed debit card.
- Access to instant loans.
- Earn more on your assets.
- Seamless banking experience is built on your assets.
- The assets are perfectly or 100% insured and backed by physical assets which are audited everyday.
Asset
The following assets are available on Oropocket.
i. Precious metals(Gold and Silver).
ii. Equity stocks.
iii. ETFs
iv. Crypto currencies.
v. Premium real estate.
vi. Art.
vii. Energy and oil.
viii. Wines and whisky.
ix. Patents.
More assets and classes will be added to the platform as time goes by.
Financial Services
The financial services rendered include:
- Instant global transfer.
- Open Finance.
- Lending.
- Earning in assets.
Open Finance protocol(OpFi) is created in other to empower users to become financially independent. This will in turn allow users to get exposure to various real-world asset classes in an open & transparent manner and also give
instant exchange between various asset classes without any liquidity barriers. Also, it will enable users to take instant loans against their asset holdings and also
Reward users to farm tokens for actively participating in the ietwork. It would also encourage token holders to earn interest by staking while
banking the unbanked.
Oro Token
OroPocket tokens would help users become a part of the Open Finance ecosystem & protocol. The tokens is designed to be used for transparent governance, building reserves, and rewarding behavior that benefits the network.
Token Value
OroPocket tokens derives its price from the liquidity and activity on the network.
Users would be able to stake their OroPocket tokens to earn inflationary rewards generated by the network.
Yield Farming
Yield Farming is used to create value on staked assets. Open Finance enables users to earn yield on their assets. This yield is rewarded by the network automatically on daily basis in ORO tokens.
Use Case
Open Banking: The open finance protocol is open and enables anyone across the globe to participate in the network.
Cross-chain asset sharing:Open Finance solves the problem of cross-chain asset sharing by offering a decentralized cross-chain bridge to enable various blockchains to share assets.
Institutional Investing: OpFi can be easily accessed across the globe within the OroPocket mobile application making it convenient to use, and significantly decreasing the learning curve and unlike traditional markets, being an open smart contract, OpFi can work round the clock. Also, the open nature of OpFi protocol enables on-chain KYC & AML solutions to be plugged in.