The Problem and the Solution
The Problem
The crypto industry has been dominated by centralized exchanges that lack transparency and fail to disclose proof-of-reserves to their customers, which led to them losing their deposits, resulting in companies like Celsius, Voyager, BlockFi, and FTX becoming insolvent.
Engaging in high-risk activities like lending by centralized exchanges has resulted in defaulted loans and cascading liquidation, both of which have a negative ripple effect on the entire DeFi ecosystem. Lack of transparency, regulation and sound business processes have also allowed these institutions to misuse funds.
Consumers and businesses also don’t have easy access to trustless and permissionless DeFi products that don’t require them to possess deep knowledge of cryptocurrency, smart contracts and the overall ecosystem of blockchain.
Less than 400k people worldwide have taken part in Decentralized Finance, because it's complicated to use and lacks a user-friendly outlet to make the entire process easier. There are multiple steps needed, such as converting fiat to crypto, setting up different wallets, and actioning different transactions on different platforms.
The Solution
Return Finance solves these common challenges by bridging traditional and decentralized finance (DeFi). By applying Web2 design best practices, we offer a simple and intuitive user experience eliminating the complexities of getting started with crypto. We have abstracted and streamlined the process of earning yield on DeFi from ten steps to just four: create an account, verify your identity, add money, and start earning.
Return Finance provides a compliant and regulated service, audited by the relevant authorities in the EU and Switzerland. We employ industrial-grade infrastructure and partner with fully regulated and licensed partners, allowing us to scale efficiently while managing risk.
Transparency is at the core of our offering. Users can track their funds through a fully auditable trail of transaction IDs and smart contract addresses. Yields are generated via trustless and permissionless DeFi protocols, with proof-of-reserves that can be validated on-chain.
Traditional vs. Return's process
Traditional Process
To generate yields:
Open an account with a Centralized exchange company (CEX)
Verify your account by completing KYC (Know Your Customer) verification
Transfer fiat money into the CEX
Convert it into in cryptocurrency
Transfer the cryptocurrency from the CEX to the non-custodial wallets such as MetaMask and Ledger
Connect non-custodial wallets to DeFi protocols
Convert cryptocurrency into LP tokens and stake them and/or lock cryptocurrency in smart contracts for over collateralized lending and/or Proof-of-stake validation
To withdraw money:
To withdraw capital and yields, convert LP tokens back to cryptocurrency, or unlock crypto from smart contracts and receive them back in hot/cold wallet
Transfer the cryptocurrency back to the CEX to convert into fiat
Transfer fiat from CEX to registered bank account
Return's Process
To generate yields:
Open a Return Finance account
Verify your account by completing KYC (Know Your Customer) verification
Deposit fiat using the add money feature by debit/credit card
Start generating yields and track your balance in real time
To withdraw money:
Use the withdraw function to withdraw your capital and yields into your registered bank account at any time you want, without any fees
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