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DeFi has brought several new functionalities to the crypto world. From crypto mining to yield farming, everything has been optimized through the integration of blockchain technology and DeFi applications. We can see more and more platforms utilizing this tool to develop unique services and products to promote decentralization and adoption of financial services in the crypto world.
Passive Income is one such innovative blockchain token that has brought an exciting concept to the market. The company uses tokenization to upgrade yield generation to Decentralized Financial Passive Income. PSI aims to improve the existing passive income concepts and make them more affordable and adaptable to everyone.
The company does this by building upon principles such as Holding, Tokenized Assets, and Generating Yield. Holding is the core pillar for PSI to create a frictionless way for PSI token holders to earn rewards on every transaction fee. The second pillar, Tokenized Assets, helps users to generate passive income. PSI also offers the facility to generate passive income using financial services to become self-sustained.
By building upon these principles, PSI has developed a robust set of features that enables it to achieve its goal.
PSIDEX
PSIDEX is Passive Incomes’ own decentralized exchange where they introduced the company’s Income Token (INC). This Income Token will fulfill different goals of the company, such as:
Governance Utility
INC will have a governance utility using which the company will guide its future projects and investors. Users can use governance on the platform itself, a particular feature, or fee rates and commissions.
The proposals for governance can be made by the project team and the investors, giving them complete control over their assets. This feature will make PSI contracts more flexible and will promote community and investor engagement by giving them influence over the platform’s policies.
These proposals can range from Farmer earnings, Tradefee on PSIDEX, and Burnpercentage (on transfers). However, governing the company’s ecosystem is a multi-step process and involves creating a proposal, voting threshold, and deciding the threshold that makes the vote valid.
Liquidity
Apart from the governance utility, the PSI token will be used to facilitate liquidity on PSIDEX and enable INC ( Income token) farming. As every platform requires liquidity to become self-sufficient, PSI will initially rely on a fallback router. After achieving sustainability, PSI will use INC token to collect LP tokens for the company’s own PSIDEX router.
NAAS
NAAS stands for NFT as a service. It is a unique concept by Passive Income in which the company will offer an NFT marketplace for any willing cryptocurrency. An NFT stands for a non-fungible token that assigns value to real-world assets such as art, tokenized real estate, pictures, etc.
PSI provides an easy way to build an NFT marketplace by offering a template for users to install their marketplace. Contributing to this idea, PSI partnered with Omari estate, a pioneer in the real estate industry, and helped them build an NFT marketplace. PSI offers a solution to every problem and helps bring project ideas to realization.
For NAAS, the real estate industry is the first step as the company plans to continue working with several industries such as Toy Business, Marine Business, Renewable Energy, etc.
PSIPAD
Passive Income’s Launchpad is a trustworthy platform where users can get a detailed insight into the platform’s functioning. PSIPAD is used to list if the project has been audited or KYC’ed and its trust score and other variables that affect the project’s reliability.
Using PSIPAD, the company wants to ensure the trust value of the projects and avoid any fraudulent or unsafe projects. Currently, it works on BSC, but PSI will soon launch it on ERC20 in the future.
Passive Income is a public company with a robust token that can help blockchain projects in several capacities. The company aims to stay ahead of the curve while sharing its profits with PSI token holders.
The team at PSI is a combination of experts from different industries, which gives them an edge and the necessary tools to succeed in this competitive market.
Conclusion
While cryptocurrencies have seen a global acceptance, it still lacks in some areas. Platforms such as Passive Incomes use blockchain and DeFi technology to advance this revolution and make the passive income generated from cryptocurrency more affordable and profitable.
