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DeFi

Solving the mystery of Palladium

26 Apr 2022 : 17:11
Updated : 05 May 2022 : 14:12
3 min read
  • A deep dive into Palladium, a mysterious project that we first discovered two weeks ago
  • The project's goal is to create a platform that abstracts the complexities of DeFi and offers users a lighting fast and feeless off-ramp
  • Palladium is taking over Twitter, early adopters will receive a unique NFT which will allow them to participate in the beta along with other benefits

Palladium is a mysterious project that first appeared on our radar about two weeks ago. There was not a lot of information out there besides a website that asked users to submit a tweet to show their proof of “account ownership and participation in Palladium.” We were very curious and decided to investigate.

We managed to get in touch with the Palladium team, who has been heads-down in stealth mode. They briefly spoke to us about what they have been working on. Here is what we found out.

Palladium is building a platform that abstracts the complexities of decentralized finance (DeFi) by allowing users to one-click invest into multiple DeFi strategies. 

I spoke with Shiv Shrivastava, the CEO, about the current state of DeFi and how intimidating it is to break into the space. He explained that Palladium’s focus is to provide an incredible user experience by building an intuitive user interface and aggregation layer on top of existing protocols. He said that “by building these tools, we can empower people to participate in the future of finance.”

Lightning-fast & feeless off-ramp

The platform meshes together an easy-to-use DeFi solution and a unique off-ramp that enable users to instantly utilize their gains via the Palladium Card. This would be a game-changer given the current state of off-ramps in the crypto space, so we had to see it to believe it.

The team whitelisted us on their alpha release, and after trying it out, we have to say that it is pretty cool. You can swap from crypto to spendable fiat in the blink of an eye. The Palladium Card does not collect user data and adheres to the ethos of the decentralized ecosystem. You simply connect your wallet, load your balance, and have the ability to spend your fiat instantly with zero fees attached. Plus, it’s a beautiful card that can also be added to your Apple Wallet.

Over the past few days, over 60,000 people have tweeted at @0xPalladium on Twitter. The team let us in on a secret, they said that early adopters will receive a unique NFT which will allow them to participate in the beta and generate a special edition Palladium Card.


About Author

Stan Colenbrander

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Stan is the head of news and podcast host at Cryptonary. He was formerly a member of the Cryptonary Pro community. In early 2021, he decided to drop out of journalism school at university to pursue journalism in real life and make an impact in the crypto space. . His areas of interest include the NFT industry, decentralised finance, and crypto start-ups.

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