Defiant: A non-custodial mobile wallet & P2P marketplace for stablecoins
A little background
Defiant was conceived under Alberto Fernandez populist government in late 2019. A new — yet predictive — political cycle governed by strict currency controls and a questionable package of economic measures.
(Un)fortunately, for us Argentines, this comes with no surprise. A more restrictive government naturally presents us with new alternatives. This lays the foundations for an ideal scenario: the use of cryptocurrencies seems the most feasible solution. Needless to say, new projects are born. Hence, Defiant.
Our first thought…
The lack of platforms to exchange cryptocurrencies without the need for KYC in Argentina is increasingly noticeable. Currently, centralized exchanges have too many bureaucratic restrictions, creating a significant barrier for the end-user. The mere fact of buying crypto is off-putting.
Meanwhile, in secondary markets like Telegram or Facebook, huge volumes of stablecoins are exchanged on a daily basis. Although this is a quicker solution, it brings with it many issues regarding scams and the inevitably lack of trust in the ecosystem. Something else is missing.
Moreover, in most LATAM countries, the US dollar has always been used as a safe-haven for inflation. Naturally, accessing foreign currencies is generally problematic. From the end-user point of view, stablecoins could be used as a digital representation of the US dollar, as most of them are pegged 1:1.
Defiant arises focused on designing a decentralized marketplace for stablecoins, connecting both people who need to sell and buy without the need of a third party, leveraged on a geolocation service. In this way, Satoshi’s viewpoint that gave rise to bitcoin is maintained.
Needless to say, it has to be simple enough for anyone to use. Under these criteria, we’ve decided to include an in-app wallet and make the best of it. Hence, we’ve decided to partner with the most secure and decentralized stablecoins in the ecosystem:
- DOC: a bitcoin collateralized stablecoin, build on top of Rootstock’s (RSK) sidechain.
- DAI: an ether collateralized stablecoin, build on top of Ethereum blockchain.
In this way, our main objective was to build an stablecoin-agnostic platform with a straightforward premise: the coexistence of technologies is a must.
So… What’s Defiant?
Defiant is a non-custodial mobile wallet & P2P marketplace for stablecoins, where the end-user can transact and exchange their digital assets securely and rapidly on a single tap using a geolocation service and, most importantly, without the need of a third party.
Through state-of-the-art tools, DeFiant includes a platform where you can:
- Receive & send cryptocurrencies with a non-custodial native wallet.
- An on/off ramp that allows instant FIAT-to-CRYPTO swap.
- On-chain swaps for both RSK & Ethereum platforms through Uniswap.
- Find a P2P escrow-secured marketplace to exchange your holdings.
- Take advantage of the DeFi ecosystem features on one tap.
Regardless Defiant emerged under exceptional circumstances, it has brought something that has been greatly missing so far: a mobile on demand dApp without the need of laptop-based platform. You have the power in your pocket.