Protocols

Hunting for the best opportunities in the world of DeFi is often time consuming. But automation is changing that.

Few doubt the potential that DeFi has to redefine crucial aspects of finance for all. But, as it stands, using DeFi platforms and protocols is often time consuming and anything but easy.

One of the biggest draws of DeFi are the yields users can earn on farming and staking protocols. However, the yields on offer are constantly changing, meaning crypto enthusiasts need to stay locked to their screens to ensure they aren't missing out. Given the 24-hour nature of this fast-moving industry, keeping on top of things is often easier said than done.

Some protocols are also pretty difficult to use, requiring users to monitor a plethora of different pools. And even when you find the best returns that the market has to offer, the process of manual compounding can be quite tedious.

In search of growth, DeFi traders often have to switch between different blockchains and delve into pools that lack liquidity. Not only can this be pretty expensive once transaction fees are accounted for, there are safety concerns to consider too.

Given that part of the push behind decentralized finance is bringing money into the 21st century, one has to ask: Why isn't this sector more automated? Where are the tools that can do all of the heavy lifting on the user’s behalf? And if aggregator sites can scour the market for the best deals on things like car insurance and flights, surely there can be one keeping track of DeFi too?

Now there is — and it's saving crypto enthusiasts a lot of time and energy. This means they can focus on the things they're truly passionate about. Better still, it's a tool that's ripping down the high entrance barriers that have undoubtedly put off some tech-savvy consumers from getting involved in the first place.

Introducing Autostrats

Earlier this year, research by Morning Consult suggested that just 77% of those who own crypto had actually heard of decentralized finance, and that figure is at just 31% among non-crypto owners. All of this suggests there are huge strides to be taken in demystifying DeFi, and ensuring it's accessible to the masses.

UNO aims to tackle this by taking the grunt work out of DeFi once and for all, meaning that consumers can "just deposit and relax."

It offers a new approach called Autostrats that achieves two things. First, it automatically compounds crypto holdings to naturally enhance annual percentage yields. And second, it continually moves assets to the highest APY sources available — irrespective of whether this involves a switch across trading pairs, pools, protocols or blockchains.

Ultimately, Autostrats is positioning itself as a crypto enthusiast's best chance of unlocking everything that the world of DeFi has to offer by maximizing efficiency and eliminating that dreaded sense of FOMO.

Speaking to Cointelegraph, the UNO team compared this evolution to the switch from coal to petrol, which once transformed the world we live in. The project believes it has found the silver bullet for usability that will entice millions of consumers around the world to finally experience DeFi's potential.

Keeping tabs

Of course, automation should never be regarded as a replacement for keeping a close eye on how your capital is performing and that's why UNO has placed a heavy emphasis on providing its users with the tools they need to scrutinize their portfolios.

Handy analytics offer at-a-glance insight into the current state of the market, and the impact this has had on funds. Crucially, funds can also be redeemed at any time — along with the interest that's been accrued to date. The fact that UNO offers all of this in one place is a big benefit, especially considering how much time it would take to analyze profits and losses across an array of different protocols quickly. Transparency is another key tenet of this platform, meaning users can monitor liquidity transfers and see where their funds are going.

UNO says it is proud to have been backed by some of the biggest names in the space, too — Polygon, Aurora, Axelar, Everscale and Chainlink among them.

The project offers a range of easy-to-understand explainers on its website, breaking down how DeFi works, the risks associated with these protocols, and step-by-step tutorials concerning UNO's features and how to make the most of them.

For beginners and experts alike, this is a team determined to defy DeFi’s current limitations.