DeFiner.org, the decentralized finance (DeFi) network for crypto savings, loans, and payments, has today launched Taurus, its crypto savings product, with $2m already locked into saving accounts. Taurus, which launches to today as a web application, allows customers to instantly deposit assets to accrue interest at a floating market rate, with savings currently earning an average interest of 20-30% APR.
Jason Wu, Co-founder and CEO of DeFiner, said, “The launch of our crypto savings product comes at a very fitting time for our community and users. We can’t wait to see users benefit from a trustless savings account, supporting many crypto assets and stablecoins, that allows them to deposit savings instantly, withdraw at any time, and accrue interest.”
Among the core features of DeFiner’s Taurus product is a non-custodian, trustless savings account, supporting over 15 crypto assets and stablecoins, enabling users to deposit savings instantly, withdraw at any time, and earn interest on assets. Primary customers for DeFiner’s crypto savings product will include blockchain start-ups, individual investors, and venture capitalists, all of whom can benefit from a DeFi network aiming to bypass the shortcomings of conventional financial services, without sacrificing security requirements and preserving online safety using an immutable blockchain.
Taurus supports over 15 different crypto assets and stablecoins, including ETH, DAI, USDC, and DeFiner’s native token, FIN. The recently launched FIN token is designed to connect the DeFiner ecosystem. The FIN token is used to redistribute profits on the DeFiner network, provide proof of premium for lending and borrowing assets, and represent voting rights for users.
Wu concluded, “The traditional financial system is broken — it battles control from centralized institutions, upholds prolonged trading shut down periods, and offers people near-zero interest on their savings. By introducing true decentralization, we can take back financial control of our wealth. We are proud to provide a highly secure, superior savings platform that is not subject to the limits of conventional financial services.”