Since it emerged, the cryptocurrency industry has been offering a way for billions of unbanked and underbanked people around the world to join the global economy. With these people typically living in underdeveloped regions that lacked money, work, and development, they were stricken by poverty and everyday difficulties even when it comes to pure survival.
Without a way to make a profit from these people, the banks typically don’t even bother expanding to their regions and offering services, and so the locals don’t have a way to use banking services to make money.
After Bitcoin emerged and the crypto industry kicked off, it seemed that this might be about to change. Bitcoin and other cryptocurrencies can be accessed globally via the internet, with nothing standing between the users and the coins. Simple investments could return significant profits provided that the investors know when to make the right move.
When the DeFi sector exploded last year, bringing decentralized banking services that go beyond simple transaction making, this idea that crypto and DeFi can help those who were abandoned by traditional financial institutions truly started to take root. Now, areas such as Latin America can join the rest of the world and start using DeFi to their advantage, and the project called Proteo is especially focusing on that.
What is Proteo?
Proteo is the first DeFi cryptocurrency created in Latin America, which aims to offer new opportunities for a third-world economy. Its goal is to help bring financial freedom by utilizing a decentralized economy, and by being the first native token in the region, it is in a perfect position to access these untapped markets.
Proteo is a token that focuses on liquidity mining, meaning that it allows users to enter the crypto world and build sources of income through liquidity pools, yield farming, staking, trading, mining, and more. All that users need to do is acquire some of the Proteo tokens (PROT) and engage in one of the offered activities that can ensure passive income for the token holder.
What is Proteo Token (PROT)?
Proteo token is essentially a liquidity token that brings a new proposal, significantly different from what similarly sounding projects are offering *due to their very limited supply*. It comes as a financial instrument that has all the qualities to work as a utility token, but it isn’t one.
It is a BEP-20 token, meaning that it runs on Binance Smart Chain, and it allows users to do mining without needing anything you would expect, such as high electrical expenses, advanced equipment worth thousands of dollars, and alike. It uses a new type of mining called liquidity mining, which is a method of earning cryptos by providing liquidity to liquidity pools on BSC.
As a result, liquidity providers get rewards for their contributions, while traders get to enjoy the same liquidity that even the most powerful cryptos are enjoying after years and years of effort. The token is very easy to purchase, and it can essentially be obtained in exchange for any crypto listed on the Binance exchange.
All that users need to do from that point on is to deposit their tokens to a liquidity pool. In exchange, they earn more coins. So, essentially, it is a money making money, and all you need is your initial investment and patience. Of course, this is a lot less risky than trading, although the risk still exists, as it does with all cryptos. After all, prices are still extremely unpredictable and can go up or down at a moment’s notice.
The coins are locked by a smart contract that facilitates efficient asset trading. Meanwhile, investors get returns on their shares. The project claims that it offers fixed earnings from Capital injection, around 0.25% for every transaction in the pool, in relation to the invested amount.