Mavryk Finance is challenging legacy financial systems by bringing on-chain finance to the real world
Mavryk is a unique crypto project that stands out from others because of its groundbreaking DeFi integrations, release plans, and its determination to give users independent control of their finances.
"Our innovative approach to community-operated DAO mechanics and vertical integrations will transform how individuals control their financial freedom and we are excited to see these projects come to fruition," says founder Alex Davis.
Mavryk will launch a suite of decentralized financial products on the Tezos blockchain, with the goal of providing financial independence to all users and bridging the gap between the real world and on-chain finance.
Borrowing money from financial institutions can be complicated and time-consuming: borrowers may encounter hidden fees, high-interest rates, penalties, and lengthy paperwork. This makes access to financial services costly, if not impossible.
"To solve this problem, we offer an innovative approach to finance, independent of legacy banks by having integrated and decentralized data oracles, finance ecosystem, and governance system that truly allows the community to prosper by being part of the bank themselves," adds Davis.
Mavryk is a decentralized, non-custodial, community-governed (DAO) financial platform that gives users independent control of their finances. Users can borrow and earn on their terms while participating in the governance of the platform.
It enables users to free the equity trapped in their assets as a loan without requiring the involvement of third parties such as banks. Users also earn by participating as members in Mavryk's digital co-op, which features a DAO-controlled Treasury. Mavryk enables its members to take a passive or active role in the operations of the DAO platform by either delegating their token's voting rights to a "Satellite" node or operating by operating a Satellite themselves.
Satellite nodes act as representative curators for the platform and form an array of nodes for Mavryk's decentralized oracle system. This participation is incentivized via rewards for governance and signing oracle data feeds, in order to bring stability, security, and prosperity to the platform and its users. The rewards are paid back to MVK delegators, similar to other Proof of Stake validator models.
Mavryk is backed by a host of heavyweight industry players such as Tezos Israel, Draper Goren Holm, Ghaf Capital, Big Brain Holdings, Metavest Capital, and numerous Tezos Bakeries (validator nodes).