What is token.com? Guide by Monolith

Published on: 27.08.2021

Monolith introduced guide about token.com, a revolutionary app that makes it possible to increase your wealth like never before.

Unlike Monolith, which has found a dedicated user base with passionate Ethereum natives, token.com is designed for new crypto entrants. The cryptocurrency ecosystem is on the cusp of exponential growth over the next decade, and we believe that the space needs to be more accessible to attract the next wave of adopters.

🔹The vision for token.com

Now six years into its lifetime, Ethereum has been an enormous success, thanks in no small part to the advent of decentralised finance. DeFi, as it’s also known, has emerged as Ethereum’s main use case today, alongside NFTs.

DeFi offers a way to eliminate the need to trust intermediaries found in the traditional finance system and could radically transform our society, potentially improving the lives of millions of people around the world.

One of the most groundbreaking features of DeFi is the opportunity it creates to capture lucrative yields that far surpass any bank or traditional finance institution. There is huge demand for leverage in DeFi, which means it’s possible to earn yield from lending crypto assets. Moreover, many protocols have their own native tokens that represent ownership in the project. Some of them accrue value such as fees to users. This creates a landscape where DeFi users can earn generous yields for using various “money legos” in the ecosystem. Ethereum applications are sometimes described as “money legos” as the composability of DeFi allows users to stack activities on top of one another in endless combinations, almost like lego bricks.

DeFi has already launched a seismic shift in our understanding of value, but it comes with a lot of complications. The technology can be cumbersome and complex for many less experienced users.

token.com will leverage the best of DeFi and make it accessible to everyone, regardless of their level of experience in crypto. It will abstract away the complications associated with using DeFi applications and focus purely on helping users increase their wealth.