I wrote a long post about decentralized finance on the Steem blockchain and compared what is occurring here to what could occur and compared it to what is occurring on the Ethereum blockchain. It was a technical and theoretical review of the possibilities here on the Steem Blockchain. But today I wish to do something different. Today I wish to propose a few concrete examples of how DeFi or decentralized finance could be conducted now on the Steem blockchain.
Tools : SBD, NFT and your asset.
Example one.
You pay $95,000.00 for a Treasury bill with a face value own $100,000, which matures in 30 days. You have a sudden need for cash and can’t find a bank to loan you money. You contact Steem-Engine and Tokenize the treasury bills by creating 100,000 NFT tokens and sell them for 0.975 SBD each. You sell your SBD for cash and now have $ 97,500.00 cash. In one month the Treasury Bill Matures, you cash it in for $100, 000 and buy back all the Tokens for 1 SBD each. Your token buyers get a 2.5% ROI in less then 30 days.
Example Two:
You decide to sell your house. You do a comparison of sales prices for ten comparable properties in your area and determine your house is worth $100,000.00. You contact Steem-Engine and create an NFT Token and create 100,000 tokens. You sell 49,000 of the tokens for 1 SBD each or 49,000 SBD. You cash in the SBD for $49,000 which you deposit in the bank. You then put your house on the market. And in 3 months you sell it for $110,000 and buy back your tokens for 1.1 SBD.
Steem-Engine NFT’s are not just for games and collectibles.
[source] Steem bluepaper
The Steem blockchain has a coin called SBD, which ideally is pegged to the dollar, and which is always worth one dollar’s worth of Steem, there is an internal peer to peer exchange for trading with an open order book. Plus the external exchanges have both Steem/Dollar or SBD/dollar pairs, so you can cash out NFT to SBD to Fiat currency, the Steem-Engine side chain has NFT’s. High finance is available here on the blockchain, the Steem blockchain. Decentralized Finance.
The future of finance, decentralized finance is here on the Steem blockchain. There is enough room in this space for Steem, Ethereum and others
Stay thirsty for knowledge my friends.
✍️ Shortsegments
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