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How can Pirimid help?

Applications on the Web3 primarily have to be coded to use decentralized computing, and hence use different data models, and languages/frameworks behind the scenes to make the application run seamlessly.

We have in house experts who understand this in detail, and hence can advice you the best on the way forward.

What is

The Web3.0?

Web 3.0 envisions a decentralized system with powerful computation resources and artificial intelligence functionality, where data generators are not reliant on a central entity to function.

What is

DAO?

A decentralized autonomous organization (DAO) is a blockchain-based entity governed by a native crypto token. Anyone who purchases and holds these tokens gains the ability to vote on important DAO-related issues. This indicates that they are not under the control of a single institution.

What is

A Smart Contract?

Smart contracts are blockchain-based programs that execute when certain conditions are met. They are used to automate the execution of an agreement without the involvement of a third party or the loss of time.

Use Cases

Collateralized Loans

  • Any owner of crypto coins/tokens can be a lender by depositing in a smart contract
  • To reduce the risk of defaulting the loans, borrowers must over collateralize the loan (depositing more than the borrowed amount)
  • Collateral and borrowings can be done using different crypto currencies (including stable coins)

Non-Collateralized Loans (Flash Loans)

  • Unlimited loan amount with no requirement for collateral
  • Short loan payback period (less than a minute)
  • Powered by smart contract, which ensures that loans are paid back
  • Flash Loans can be used by borrowers for profit booking via trading (ex: price differences in crypto exchanges)

Insurance

  • Smart contract has all the details regarding the terms and conditions, insured amount & account; which helps in complete automation and speeding up of process.
  • Oracles which are trust sources from community to gather real world inputs for smart contract, thus eliminating ambiguity and frauds

Payment Gateway

  • The crypto payment gateways are built on the blockchain ecosystem that serves benefits like immutability of records and transparency in the transaction.
  • With no intermediaries, crypto payment processing becomes extremely fast
  • Decentralized payment gateways neither ask for registration nor KYC for verification purposes, protecting privacy.

Yield Farming

  • Yield farming, is a way to generate rewards with cryptocurrency holdings
  • Liquidity providers deposit funds into a liquidity pool (set of cryptocurrencies locked into a smart contract). This pool powers a marketplace where users can lend, borrow, or exchange tokens. The usage of these platforms incurs fees, which are then paid out to liquidity providers according to their share of the liquidity pool.

Synthetic Asset Insurance (Used by Mirror Protocol)

  • Process of creating a digital asset token that mimics the properties of something else, like precious metals, currencies, derivatives etc.
  • These synthetics can generally be bought, traded, and sold, allowing holders to gain exposure to previously illiquid or difficult to obtain assets
  • Synthetic assets can be quickly traded for other synthetic assets

Have a use case not listed above? Use our expertise to build your

Custom Web3 application?

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