Proteus Finance is a DeFi platform that runs on the Terra blockchain that serves to provide platform users with the best stablecoin yields in the market. The initial DEX offering (IDO) for its native token, $PROTEUS, is scheduled to launch on April 5 on the Atlo launchpad.
Decentralized finance (DeFi) took the world by storm, ushering in a new era of open finance that unlocked opportunities that were once only available to privileged individuals. And while it is an innovative technology that has spawned a niche market in the crypto industry, it is struggling to reach a wider market due to its complexity. DeFi is currently facing this serious problem, and the only way to bring out its maximum potential is to turn it into a user-friendly tool that everyone can conveniently use.
Table of Contents
Background
Proteus Finance, a platform aiming to solve DeFi’s most pressing problems, is composed of a team with rich backgrounds in Web3 and backend development, business development, finance, operations management, and corporate law. Leveraging their combined expertise, the Proteus team aims to bring their DeFi solution to both crypto and non-crypto natives to help unlock the true benefits of decentralized finance.
What is Proteus Finance?
Proteus Finance is a DeFi platform that runs on the Terra blockchain that serves to provide platform users with the best stablecoin yields in the market by using Terra’s advanced protocols and ecosystem.
Proteus can execute automated processes on various and complex DeFi products, giving users a one-stop place to access Web3 financing services.
Terra Ecosystem
Terra Protocol is a blockchain that generates algorithmic stablecoins against various types of fiat currencies, which includes Terra US Dollar (UST), Japanese Yen (JPV), and Euro (EUT).
The problem with USDT and USDC, the more popular U.S dollar stablecoins, is that they are not decentralized currencies, which means they are always vulnerable to collapse. Terra’s UST and its other stablecoins are protected from various economic factors that affect centralized digital currencies, giving holders an edge and much-needed protection.
Aside from having lower fees than Ethereum, Proteus can unlock the benefits of existing projects in Terra, such as Anchor and Nexus, to provide higher returns for its users.
Simplified Protocol Participation
Participating in other DeFi platforms may seem convenient since it can be done within anyone’s device, and could only take several minutes to finish. But compared to Proteus, these current applications will appear complicated, cumbersome, and time-consuming. These protocol applications may include creating an account on a crypto exchange, going through multiple currency conversions, creating a liquidity provider, and a host of additional requirements.
To solve this complex process, the project has created the Proteus Automated Solution, which only requires a 3-step application process versus the standard nine or more steps with most protocols.
Applicants only need to:
- Register to access the Proteus app and wallet
- Purchase USDT, currently the easiest stablecoin to access
- Choose the desired investment option inside the app
Advantages of Proteus
Behind Proteus’ simplified platform are advanced and efficient systems that work in harmony to bring the best DeFi benefits to users. For one, Proteus reduces users’ impermanent loss by proposing undervalued coins, seamlessly converts USDT to UST, and provides clear graphs of complex investment solutions.
Its system is also designed to protect users from high-risk investments that can significantly reduce their assets. The platform’s artificial intelligence can help users maximize their potential yearly returns, manage risks, optimize yields, and execute auto compounding.
It also allows users to link their debit card accounts when applying for KYC approval for faster transactions.
Proteus facilitates credit card on-ramp to allow users to purchase stablecoins inside the app without registering on a specific crypto exchange. Other benefits of Proteus include easy swapping of stablecoins, using Proteus tokens as collateral for loans, investing in stocks, selling and withdrawing investments, and sending native tokens for free.
Apart from the benefits mentioned above, another advantage that sets Proteus apart is its ability to “assemble” different Terra protocols like Lego blocks. This capability means that Proteus can provide the highest-possible yields for its users, which, after all, every DeFi platform must strive to achieve.
It also provides users with insurance, stocks, and auto-computing to bring more value to their hard-earned assets.
To further bring simplicity, Proteus allows users to invest with just one step and enables them to withdraw their funds directly into stablecoins.
Proteus Token
Proteus Token ($PROTEUS) is the platform’s native and tradable utility token, which will soon be bridged to Ethereum, Polygon, and Binance Smart Chain.
It will facilitate three types of token holders, which are Proteus platform users, investors and speculators, and stakers. For stakers, the token will provide benefits that include loan eligibility, launchpad participation, stablecoin investment insurance, and reduced transaction fees.
PROTEUS IDO
The $PROTEUS IDO is set to launch on Atlo this coming April 5 at a price of 0.06 UST per token, where 10% of the supply will be sold to the public.
How does Proteus Protect Investors’ Money?
Algorithm Powered By Artificial Intelligence
Proteus’ advanced AI helps investors by suggesting the best portfolio distribution options for them if their coins plummet in value. The team also plans to integrate another AI feature that can execute automated rebalancing of investors’ portfolios.
Access To Exclusive Strategies
The Proteus team will audit, verify, and publish custom yield generation strategies created by DeFi analysts, to provide investors with a solid ‘game plan’ that can grow their investments further.
Strategies with the most profitable outcomes are only exclusive for Proteus token holders and serve as one of their incentives in trusting the token.
Strategy creators will receive rewards in proportion to their active community involvement and the value they provide for investors.
Automated Trading Bot (Optional Feature)
In case of an unfortunate general drop in the market and a decrease in tokens’ value, an automated trading bot will take action by preserving users’ capital and purchasing tokens for them.
Two Versions of Proteus App
Proteus has created two versions of its app to help both crypto and non-crypto natives experience the benefits of DeFi, despite its complexities.
The app’s first version has a centralized system to carefully guide users who have little to no experience in crypto investing and trading. In this app, users wouldn’t be required to create a Web3 wallet or install plugins to eliminate complexities as much as possible.
The second version has a fully-fledged decentralized solution, accessible through Metamask and made for crypto natives.
Despite their varying features, both versions will implement the same fees, making them accessible to more users.
Proteus’ Income Sources: A Quick Look
| Where It Earns | Percentage |
| Transaction fee when converting stable coins to UST. | 0.2% (For every transaction) |
| Transaction fee for deposits to the strategies. | 0.5% (For every transaction) |
| Insurance subscriptions | 10% (For every subscription) |
Conclusion
Most breakthrough products had captured a dominant position in their respective markets when they championed simplicity in their functionalities. Proteus Finance has the massive potential to land in the same position, with its simplified yet advanced features that significantly lowers the complexity barriers for end-users.
