The cryptocurrency industry is undergoing a shift towards decentralized finance (DeFi) and noncustodial platforms. Dyor, a decentralized crypto exchange, aims to play a role in this transition by promoting financial interactions and community-driven growth.
After the collapse of FTX, which was formerly the third largest crypto exchange, investor interest in DeFi and noncustodial finance has increased. A report has shown that 40% of crypto trading platforms have started using decentralized technology, and there is a higher demand from retail investors compared to institutions.
While noncustodial alternatives are gaining popularity, the move to Web3 and DeFi presents a learning curve as these platforms lack user-friendly investment tools. To address this challenge, initiatives are working on positioning noncustodial platforms as a compelling alternative to traditional finance by improving accessibility and usability.
Dyor, a decentralized investment platform, aims to provide a simple, transparent, and noncustodial alternative for investors transitioning from traditional crypto exchanges to DeFi. It welcomes both experienced investors and newcomers to the crypto space, positioning itself as an accessible hub for online investing.
Dyor’s investment app is available on iOS and Android and incorporates features designed to enhance the user’s investment experience, including wallet swaps, bridging, asset management, and tracking. The platform supports over 30 fiat currencies and offers access to multiple chains, including Ethereum, BNB Smart Chain, and other Ethereum Virtual Machine-compatible infrastructures in a single wallet. Dyor also offers lower fees compared to onchain and centralized exchanges, with 30% of platform fees returning to users who stake its native token, DYOR.
In the DeFi ecosystem, community engagement is crucial, and Dyor embraces a community-centric approach. Users can create profiles to share trades, token purchases, market opinions, and crypto-related insights through their “All Things Crypto” feed. The feed not only features user-generated content but also aggregates news from 129 sources, providing a comprehensive market view. Dyor is also exploring integrations with platforms like X (formerly Twitter), Discord, and other social media channels to enhance its news aggregation capabilities.
Dyor is a social investment platform where community engagement and capital intersect. Through the Dyor app, investors can connect and leverage mutual experiences for more advantageous deals. The platform offers a follow-trading feature, allowing users to imitate the actions of experienced investors, as well as a social investing model where investments align with specific goals.
With minimal steps, users can discover new tokens and benefit from live price alerts, access to market news, and easy integration. The app sends notifications about market movements and enables users to manage their assets, send tokens, and calculate their portfolio’s profit and loss (P&L).
Dyor’s native token unlocks premium features, advanced analytics, and discounted exchange fees. Users can earn the native token by engaging with other participants, participating in events and competitions, and achieving milestones. Additionally, users can receive token rebates from the trading volume generated by the users they introduce to the platform.
Markuss Jonans, CEO of Dyor, emphasizes simplicity and social interaction as top priorities. He highlights that they initially estimated having less than 100,000 users, but the waiting list on their website has already garnered over 450,000 registrations. This high level of interest demonstrates the potential of noncustodial alternatives in the traditional finance sector.
As platforms like Dyor continue to advance with their community-driven approach, it is clear that user-friendly, secure, and inclusive financial platforms will shape the future of investing. As these platforms become more accessible and their benefits become widely recognized, investment and financial services paradigms will be redefined on a global scale.