A Japanese proverb says that the gods laugh when people pray for wealth. Well, you have to earn your wealth on your own. Fortunately, Decentralized Finance (DeFi) provides more and more opportunities to make money in this world of compromised, unstable, and degraded fiat currencies.
Being daily practitioners and avid participants on the crypto and DeFi markets, we were aware of these circumstances. So, we decided to create a solution and we developed an idea for a new platform. We called it DOJO.
The name was inspired by the Japanese term dōjō, which literally means a place of the way and describes a room for immersive learning and meditation. It’s traditionally used in martial arts but found its way into other areas, such as software development.
Our DOJO is a platform for buying & selling NFTs to which we have added originally layered innovations.
The story takes us to feudal Japan, where the DOJO community perfects itself in the art of DeFi. We are a brotherhood of DeFi warriors eager to practice daily and ready to face any challenge in the pursuit of perfection and wealth.
Sometimes, you’ll have to battle the Oni demon, so there’s a fantasy aspect as well.
Now let us explain our concept more from the technical side.
Introduction to DeFi DOJO
DeFi DOJO is a simple yield-into-NFT packing protocol. We allow our users to generate a passive crypto interest on bought deposits that is easy to grasp.
The following is an executive summary of our lightpaper. We invite you to read it to grasp the full scope of our new DeFi product.
DeFi DOJO’s Mission
Many questions have arisen with the rapid development of the new form of cryptographically secured money, and the programmability crypto gives to its users.
We know from experience that decentralized finance requires swift adaptation to digital realities, where each day brings innovations. These are also questions and problems that we want to deal with. We have long wondered what barriers a typical cryptocurrency user has to face.
Considering the current environment in traditional finance and the negligible opportunities of passively earning fiat money, we believe that we will walk this path together. This is for those willing to go deeper and use the tools practically to increase their own financial independence. The DOJO way.
The challenge of decentralized finance may also lie in the fact that blockchain technology is still at an early stage. Significant stratification in the number of protocols, high transaction fees, and difficulties in finding meaningful investment products on one’s own is currently a bane for new DeFi users. Therefore, it should come as no surprise that fewer than 20% of plug-in browser wallet users have ever dealt with DeFi.
We want to solve the DeFi mystery by combining business with pleasure for our users.
First of all: no more high transaction fees. The choice fell on the Polygon Network [MATIC], which is complementary to Ethereum and, at the same time, is many times cheaper than transacting on ETH.
In addition, DeFi DOJO will provide users with an onboarding process and support for the most interesting and low-risk crypto investments so that they can calmly multiply their assets. NFTs included.
Our goal is to encourage new users to take advantage of our protocol including those who come from centralized exchanges and existing MetaMask users.
The Protocol
The core, and perhaps the soul, of the DeFi DOJO project is the innovative idea of combining NFT tokens with tokens that generate interest for their holders. This is how the yNFT (yield Non-Fungible Token) was created… But what does that actually mean?
The top layer of our product is a non-fungible token that can hold various other cryptocurrencies “underneath it”. We create yNFTs with undercover interest-bearing assets combined with a visually representative NFT by connecting these items. Assets can be yield-bearing tokens supported by AAVE or other lending and borrowing protocols based on the Polygon Network.
DeFi DOJO will offer its users some carefully designed NFTs in the form of Samurai NFT Masks. These masks can be combined with yNFTs to earn our native token. Samurai Masks are coming soon in the form of an initial NFT offering and will be available in short supply for a limited time.
DOJO yNFT Marketplace will cover our initial products and tools for easy transactions. Together with crafting and dismantling underlying assets, users will be able to play with DeFi like never before!
Plans
The DOJO ecosystem would not be complete without our native and powerful DJO token. $DJO will be a Polygon-based token with a carefully crafted tokenomics. It will allow users to lower their fees, have a stake in a to-be-deployed DOJO decentralized autonomous organization along with regular staking, liquidity mining, and NFT creation.
Worth mentioning is a hard cap token model with a rewards’ pool recycling system and a token vesting period preventing significant price reductions in the next few years.
The DAO (Decentralized Autonomous Organization) will govern and maintain DeFi DOJO via the DOJO Council. Some of the features we would like to include are roadmap feature requests and voting on adding new protocols and strategies to our playbook.
The DeFi DOJO Team
DeFi DOJO is being built by a dedicated team that sincerely and stubbornly strives to present decentralized finances in a simple form for every user. The DOJO Team provides the most convenient earning tool for the largest possible audience. We want our product to be user-friendly and intuitive from the first iteration.
Our approach is based on responsiveness, which we understand as quick response time to requests and suggestions from our users. We also strive to be the leaders of complex strategies that we pack in a simple product. With us, you don’t have to worry!
The Road Ahead
We are planning years of future product support. You can be sure that the DOJO you use is not only reliable but also expandable and can give users additional utilities for the native DJO token and the entire ecosystem.
For more information, visit our official website.
Follow DOJO community channels to stay up to date:
Twitter: https://twitter.com/defi_dojo_
Telegram Announcements: https://t.me/+gKQ_POyzNhI4Nzc0
Discord: https://discord.gg/bjQrd76HWE
