Afina.finance
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Introducing
Building a decentralized financial ecosystem.
Afina (AFN) is a modern multifunctional ecosystem. At a time when the most of the the coins are centralized networks and development teams have influence on them, we present to you a absolutely decentralized project
and no one except the community has the influence rights. Only the community manages the coin, and only the
community by organizing voting - will adjust the project development way.
AFN is the start of WEB 3.0, which will show you that controlled projects are a thing of the past.
Investors trust decentralized applications more than $2 billion, with no legal remedies. Where does this trust come from? The answer is in blockchain technology.
Usually DeFi runs on the Ethereum blockchain, which provides a high level of trust. Smart contracts are programs that automatically execute transactions on the blockchain according to predetermined conditions. They
are relatively inefficient (in terms of latency and throughput) compared to centralized computing because like simple blockchain transactions smart contracts are decentralized.
However their strength comes from a high level of security and transparency. Anyone can potentially check the results. Due to their decentralized nature a set of interacting smart contracts are also referred to as decentralized applications (dApps).
Unlike smart contracts, the operation of banking software is not visible to the client. The user should just trust that the programs of the companies do what they promise. The code of smart contracts is publicly visible. Copies of
it are in public registries, which together form the blockchain. We want to be honest and note that only not a large number of users have the skills and resources to self-evaluate the smart contract code. As in a traditional
financial system, users eventually trust certain institutions or people (auditors, experts).
Smart contracts can perform various functions such as payment and lending, as well as more complex functions such as automatic market making when trading crypto assets. AMM bots - fully automated and decen-
tralized act both as a buyer and as a seller in the absence of one of the parties, all this happens without any intermediaries. The seller will always find a buyer, and the buyer will always find a seller.
Decentralized applications based on a set of interacting smart contracts and serving these basic financial func-
tions are called financial primitives. Even today, financial primitives can include functions such as payment, lending and borrowing, trading, money management, derivatives, insurance, and probably much more. But most DeFi applications are still existing by analogy with existing financial products from the established financial world, we can expect that completely new DeFi use cases will appear in the future.
Last modified 3mo ago
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