Behind the value locked in DeFi and daily transactions on dApps are humans whose lives are changing in a meaningful way thanks to open finance. This is opening up new opportunities of wealth creation for people around the world.
Behind every Nuo user, there is a story. We decided to talk to our users and understand who they are, what got them interested in DeFi and how it’s impacting their lives. Presenting Humans of DeFi.
Meet Matt 👋
Matt is a small business owner in the United States and has an interesting story on how he was introduced to the world of crypto. We spoke to him about his journey and here are some excerpts from the conversation.
“I went to a conference unrelated to crypto in Sept 2017 and they changed the agenda to talk about crypto. I was so mad. I thought crypto was a joke and I had traveled far and paid a lot to go there. They did it because they saw the amount of capital going into crypto. In the end, it was the best decision because it got me interested in my favorite thing now :)”
He believes that the introduction of cryptocurrencies has helped in removing borders and has brought people from many countries together as co-workers and friends. Which is quite true, since with the help of DeFi we can now create a frictionless experience to use new age financial applications for people all across the globe.
Matt meets Nuo 👏
Matt learned about Nuo when he was fiddling over the internet researching about the DeFi space. He has been using Nuo for earning higher interest on his stable coins compared to other lending platforms or even his bank account.
“I am using it as a lender to earn interest on my stable coins. I like it because it only commits to paying out every day as loans are repaid. It’s inconsistent but they are not over-promising. I know when Nuo gets paid I will also get paid the same-day”
We are able to achieve this because of our high reserve utilisation since Nuo is designed as a decentralised debt platform which enables multiple borrowing user cases including over-collateralised loans and margin trading.
Happily Ever After 🙏
We would like to thank Matt for being a part of our community and sharing his journey and feedback with us. Since we are always curious about receiving feedback from our users, we asked him how we could improve his experience on the platform even further:
“I want more clarity for lenders on what they can reasonably expect to earn. I’ve come to really like the Nuo model. It only commits to paying based on loans repaid. I don’t want you guys to go to a continuous earn system like other lending platforms”
Aye aye, Matt! We are on it. You can expect some exciting changes in the next few months as we freeze the new version and start working towards building a product that will take DeFi to the masses.