BOSAGORA Unveils T-Fi, the Decentralized Traditional Economy Financial Model
SEOUL--(Korea Newswire) February 18, 2021 -- BOSAGORA, a public blockchain platform, announced their blueprint for ‘T-Fi,’ an advanced financial concept that is anticipated to overtake the existing decentralized finance (DeFi) financial model on February 17.
T-Fi, which stands for true finance, plans to introduce a new financial experience by linking the traditional economy such as stocks and real estate with BOA, a coin of BOSAGORA. The company also announced a roadmap which revealed an initial lending service that is planned to begin in March. The first T-Fi lending service program will be rolled out on an incremental basis within the year as trust contracts and CoinNet development are completed.
According to the BOSAGORA Foundation, T-Fi is an ecosystem that is centered around generating profits in various ways. Profit generation in the T-Fi ecosystem consists of rewards from block generation by operating BOSAGORA nodes, fixed interest rates from lending of staked BOA assets, and income dividends by taking part in security token offering (STO) projects that are exclusively partnered with BOSAGORA. T-Fi is already attracting attention from the market because of its ability to generate profits by linking lending staked crypto assets and the traditional economy, in addition to earnings gained through operating nodes and participating in STOs that are well-known existing ways of creating value.
For management of the T-Fi ecosystem, BOSAGORA plans to establish ‘T-Fi Labs’ as a separate corporation to operate nodes in its place by trusting BOA coins, while carrying out various businesses such as the lending of the BOA assets, investment in traditional economy, and fixed interest payments. BOSAGORA will also operate an exchange where users can freely buy and sell ‘lending-voucher tokens’ among themselves.
The company said that T-Fi pursues more stabilization and higher profits by complementing vulnerabilities of existing DeFis. Whereas conventional DeFis are focused on lending and transaction of ERC20 tokens, T-Fi can make investments in various traditional economies. In addition, due to its profit system based on verified traditional economy, T-Fi has a structure that is fundamentally impossible for individuals to manipulate by taking advantage of bugs, smart contracts and other blind spots in profit mechanism. Another advantage of T-Fi with complex structure is the fact that it can lure universal participation being based on profit system of traditional economy that is familiar to all.
Out of all the traditional economy sectors, T-Fi is center-stage of the stock industry. It plans to operate lended assets through FMway, which signed a business agreement with BOSAGORA in November last year. FMway is an investment company based on a unique big data-based stock-picking algorithm, and has recorded annual average earnings of 39.7% as a result of back data testing for the past 20 years on 12 countries' stock markets.
To decentralize T-Fi, a financial model that invests in the traditional economy including stocks, it is key to record in blocks the various transaction details that occur outside blockchain of BOSAGORA through objective verification. To that end, BOSAGORA Foundation has started discussion with Chainlink, the world-class blockchain middleware company specialized in on-chainization of off-chain data, for integrating system through Oracle.
T-Fi Labs plans to launch lending products with 1-year maturity on a first T-Fi lending service basis during the first half of this year, and it will officially start service for operating nodes as an agency in the latter half when BOSAGORA nodes can be operated. In the first year of operating CoinNet, BOSAGORA is required to issue and provide BOA coins to node operators as a reward for block generation representing 37.84% of total issued coins. This is a much higher rate compared to other equivalent PoS-family projects.
“With the vision of building a better world, BOSAGORA is happy to provide safer and more convenient financial service via T-Fi,” said Kim In-hwan, Chairman of BOSAGORA Foundation. “BOSAGORA will create a financial ecosystem that is transparent, fair and beneficial for all through T-Fi.”
Meanwhile, T-Fi Labs will open up to participants on February 22. Details on the first service of T-Fi lending can be found on their homepage and interest rates will be fixed at approximately 45% for lending the first year of operation.
This is a news release distributed by Korea Newswire on behalf of this company. Learn more