Bitlocus aims to bring more people into DeFi by lowering the barrier to entry.
Bitlocus, a new Terra-based DeFi investment platform, looks to tackle these issues in one fell swoop by providing a simplified fiat-to-DeFi onramp and product suite.
What Is Bitlocus (BTL)?
Billed as a "DeFi investments platform for fiat-based investors," Bitlocus is designed to provide a simple means to help traditional investors benefit from the unique properties of the rapidly expanding DeFi ecosystem.
It achieves this through a range of products that allow fiat users to gain exposure to the yields offered by DeFi protocols and platforms — like Aave, Compound, Venus, Sushi, etc. This will be offered through a dashboard for accessing DeFi yields, helping to bring the benefits of DeFi to mainstream investors.
The platform’s native utility token, known as BTL, is intimately woven into its operation: it is used for the payment of certain platform fees, as an incentive to participants in the Bitlocus product ecosystem and the key for unlocking token holder specific features, such as exclusive DeFi packages or improved yields.
Bitlocus was created by a team of entrepreneurs and builders. At the head of the operation is Andrius Normantas, Bitlocus' CEO and a seasoned developer that has been operating in the blockchain space since 2018. Bitlocus' CTO, Tadas Varanauskas, has a wealth of development experience working with high tech firms and has been building Bitlocus' exchange and B2B solutions since 2018. Lastly, Glory Lucas rounds out Bitlocus’ c-levels as its CMO and an established marketer in the crypto space.
Beyond this, Bitlocus is supported by a multidisciplinary team that includes developers, business growth specialists, and marketers, as well as a variety of accomplished advisors.
How Does Bitlocus Work?
Bitlocus achieves this through an intuitive dashboard that allows users to access a variety of DeFi investment options using their traditional fiat payment methods. The UI is designed such that users do not need an understanding of IT, crypto or DeFi to participate.
Each strategy will be hand-picked and vetted by the Bitlocus team; this will be combined with a guarantee fee fund and additional risk hedging strategies to minimize or offload risk to external parties.
Bitlocus makes investing in DeFi not only simpler but also cheaper by eliminating the fiat-to-crypto conversion fee and instead charging a flat 0.5% entry fee. There are no fees to deposit to the platform or convert from DeFi back to fiat, keeping the costs down to a bare minimum.
Bitlocus is building on Terra, a blockchain designed to host the next generation of financial products. As a result, it benefits from massive throughput and high security, while enabling compatibility with the growing number of DeFi tools also built on Terra.
Bitlocus will be hosting SEED SHO on DAO Maker in early December and its token generation event (TGE) is expected to take place shortly after.
What Makes Bitlocus Unique?
Bitlocus is built to provide an easily accessible bridge between traditional and decentralized finance through a range of simplified investment packages that can be entered with fiat, but generate a yield from novel DeFi protocols.
To help it target the biggest possible audience and deliver on its goal of exposing the benefits of DeFi to the masses, Bitlocus includes the following unique features:
Built on Terra
As a high-speed, highly efficient blockchain designed to power the future of financial infrastructure, Terra will ensure Bitlocus can scale with demand.
As the third-largest smart contract community by community size, Terra is ripe for expansion and Bitlocus aims to grow this community by providing a simple DeFi hub for fiat users.
As we previously touched upon, Bitlocus is building on Terra, which means it automatically benefits from negligible transaction fees.
But going one step further, Bitlocus has slashed the costs usually associated with moving fiat into DeFi by eliminating fiat-to-crypto conversion fees when both entering and exiting the DeFi gateway. This also makes DeFi more accessible by lowering the minimum entry threshold, allowing investors of all wealth levels to benefit from DeFi.
In total, Bitlocus charges 0.5% of the transacted amount, e.g. $2.50 for every $500 entered into its products, as opposed to potentially 5-10% using a standard OTC broker.
Bitlocus is designed to distill the best of DeFi into a range of beginner-friendly investment products. By using the platform, users can easily choose from a list of investment products based on their preferred strategy and risk tolerance.
Users will be provided an estimated APY for each product, and are free to buy and sell their shares in Bitlocus’ DeFi packages as and when needed without restrictions.
Bitlocus helps to mitigate or eliminate these risks through a variety of mechanisms, which include manual vetting, rate risk hedging, a guarantee fund and optional insurance options.
Besides its upcoming DeFi product lineup, Bitlocus has developed a variety of additional B2B products, these include:
- White label exchange — allowing firms to launch their own crypto exchange with fiat support in under four weeks;
- IEO launchpad — enabling early-stage projects to raise funds via an initial exchange offering;
- Crypto payment gateway — allowing firms and merchants to accept crypto payments that are automatically settled in fiat;
- Mass payouts — helping individuals and firms process mass crypto payments.