Every cryptocurrency enthusiast and traders need an exchange where they can trade anonymously and securely. Traders and investors don’t want to store their crypto assets on a centralized exchange because the funds are not in their control. There is also a saying in the crypto world ‘Not Your Keys Not Your Coins’ which means if you don’t have the private keys of your wallet the coins do not belong to you.
Here comes CryptoLocally the first Fully Decentralized P2P exchange where users always have full control of their crypto assets. The best part about CryptoLocally is that it is governed by the community and constant changes have been made according to the user’s needs to make the platform better.
What is CryptoLocally?
CryptoLocally is one step ahead of traditional P2P exchanges when it comes to security. The exchange uses smart contract escrow to make sure there is no involvement of intermediaries. CryptoLocally never holds the user’s funds. Users have complete control over their crypto assets and stored in a wallet managed by the user. Users can send or receive cryptocurrencies directly with their own wallets.
CryptoLocally does not stop there. It became the first P2P exchange to embed DeFi features. The exchange has released the Finance Wallet, allowing users to earn staking rewards on their cryptocurrencies, hassle-free. CryptoLocally’s Finance wallet lets do Yield farming without any risk.
Users can start lending and earning with just a single click. No need to transfer your crypto assets, no locking period, redeem anytime, Rewards will be credited automatically.
This is all possible with CryptoLocally’s partnership with IDLE Finance. Their smart contract-based algorithms work 24/7 to find the best yield strategies to provide the highest returns to their users in the safest way possible as compared to other platforms.
The GIV Token
GIV is the native utility token of the CryptoLocally P2P exchange. It was first integrated as a discount and incentive token where buyers and sellers are both awarded GIV tokens each time they successfully complete a trade on the platform. Users earn GIV token staking rewards when they’re holding GIV tokens on CryptoLocally’s Finance Wallet.
With the governance system, GIVernance, you can vote and decide on the future of CryptoLocally. With GIVernance, the platform will be driven by the creativity and diversity of its community members. This construct gives a sense of authority, ownership, and responsibility to the members.
GIV token holders can create proposals for any change or update. The proposal is then listed on the voting portal and other GIV holders can cast vote if they agree with the proposal. Votes on proposals are time-weighted and time-sensitive. More specifically, at least 10% of the real-time circulating supply of GIV tokens must be staked on a proposal for at least 14 days to make the proposal valid.
With GOVernance, Users of CryptoLocally have the right to vote for the developments, inflation control, and the addition of new features. CryptoLocally planning to integrate NFTs in their P2P exchange. The exchange is evolving and becoming better every day.
Official Website: CryptoLocally