The crypto industry is transitioning to DeFi and noncustodial platforms. Dyor, a decentralized crypto exchange, wants to get a role in this change by driving financial interactions with a commitment to community-driven growth.
Following the collapse of FTX, formerly the third largest crypto exchange, investor interest in decentralized finance (DeFi) and noncustodial finance began to increase. Supporting this trend, a report highlighted that 40% of crypto trading platforms have started using decentralized technology and that retail demand is higher than institutions.
Despite the rising popularity of noncustodial alternatives, the transition to Web3 and DeFi comes with a learning curve, as noncustodial platforms lack user-friendly tools for investment. Addressing adoption challenges, some initiatives are trying to position noncustodial platforms as a compelling alternative to traditional finance by improving access and usability.
Managing crypto investments with ease
Dyor, a decentralized investment platform, provides a simple, transparent and noncustodial alternative for investors turning to DeFi from the chaos of traditional crypto exchanges. Opening its doors to experienced investors and newcomers to the crypto space, Dyor intends to become an accessible hub for online investing.
Available on both iOS and Android, Dyor integrates features designed to enhance the user's investing experience, such as wallet swaps, bridging, asset management and tracking.
Dyor's decentralized investment app supports more than 30 fiat currencies. Source: Dyor
Dyor offers access to multiple chains, including Ethereum, BNB Smart Chain and other Ethereum Virtual Machine-compatible infrastructures in a single wallet. The platform offers lower fees than its onchain and centralized exchange competitors, with 30% of the platform fees returning to users who stake its native token, DYOR.
In the DeFi ecosystem, community engagement is not just beneficial — it's foundational. Dyor embraces a community-centric approach, allowing users to create profiles to share trades, token purchases, market opinions and crypto-related insights through their "All Things Crypto" feed. In addition to user-generated content, the feed aggregates news from 129 sources, providing a market view.
Dyor is exploring integrations with platforms like X (formerly Twitter), Discord, and other social media channels to further enhance its news aggregation capabilities.
Follow-trading and social investing
Dyor is a social investment platform where community engagement and capital meet. Through the Dyor app, investors have the opportunity to connect, drawing on mutual experiences for more advantageous deals. Users can access the follow-trading feature, where they can imitate the actions of experienced investors, and the social investing model, where investments are made in line with a specific goal.
With minimal steps, users are able to discover new tokens and benefit from Dyor's live price alerts, access to market news and ease of integration. The app sends notifications about market movements and lets users manage their assets, send tokens and calculate their portfolio’s profit and loss (P&L).
Users can follow other investors and learn from them. Source: Dyor
Through the platform's native token, users can unlock premium features, advanced analytics and discounted exchange fees. Engaging with other participants, taking part in events, participating in competitions and completing milestones awards users the platform's native token. Users can also receive token rebates from the trading volume generated by the users they bring into the platform.
Democratizing in decentralized crypto exchanges
Markuss Jonans, CEO of Dyor, emphasized the importance they attach to simplicity and social interaction. Underlining their priority on exploration, he added:
“We aspire to be the app where users navigate the intricate landscape of allocating their capital on-chain, identify which tokens to acquire and discern the narratives that captivate and stand out the most.”
Jonans underscored that they initially estimated the number of users would be less than 100,000 and said that the waiting list on their website has already collected over 450,000 registrations. The interest beyond expectations shows the potential of noncustodial alternatives to traditional finance solutions.
Reflecting on the advancements and community-driven approach of platforms like Dyor, it's evident that user-friendly, secure and inclusive financial platforms will continue to shape the future of investing. As these platforms become more accessible and their benefits more widely recognized, investment and financial services paradigms will be redefined on a global scale.
Learn more about DyorDisclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you with all important information that we could obtain in this sponsored article, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor can this article be considered as investment advice.
