Cashless Society 101: Decentralized Finance (DeFi) and SKYBIT's Promise of Financial Inclusion for Myanmar and her Diaspora in China, Japan, Korea, and the World

SKYBIT.ASIA - Transcend all Boundaries

SKYBIT transcends all boundaries into DeFI via it's Decentralized Exchange with Uniswap liquidity powering asset pair staking and earnings. Liquidity provider rewards are in form of earnings and liquidity providers earn a 0.3% fee on all trades proportional to their share of the pool. Fees are added to the pool, accrue in real-time, and can be claimed by withdrawing liquidity.

According to Uniswap.org:

"Uniswap is unique in that it doesn’t use an order book to derive the price of an asset or to match buyers and sellers of tokens. Instead, Uniswap uses what are called Liquidity Pools. Liquidity is typically represented by discrete orders placed by individuals onto a centrally operated order book. A participant looking to provide liquidity or make markets must actively manage their orders, continuously updating them in response to the activity of others in the marketplace." - UNISWAP

As the world seeks for ways to support digital and contactless payments, cross border trade backed by crypto and blockchain-based supply chains is becoming the bet for leading innovators. This has implications for crypto traders as well with critical infrastructure ecosystem players like Chainlink seeing their tokens rise in value due to Chainlink's data aggregation and on-chain/off-chain linking architecture. For SKYBIT, the goal is to bridge Myanmar to South East Asia and the world through these new technologies while enabling localization and local vendor support through a dynamic payment processing system as well as a digital asset converter. Thus crypto to Myanmar KYAT conversion happens seamlessly and securely enabling normal and popular use cases like trade, donations, and remittances.

Beyond currency swaps and liquidity pools staking, traders can tap into Uniswap liquidity mining

by depositing Liquidity Provider tokens to receive UNI, the Uniswap protocol governance token. Participating pools are:

  • ETH-DAI

  • ETH-USDC

  • ETH-USDT

  • ETH-WBTC

Uniswap Governance is based on a model where UNI tokens represent voting shares in Uniswap governance. One can vote on each proposal themselves or delegate one’s votes to a third party.

The SKYBIT tokens, currently on sale will not only help continued operations and support of the SKYBIT ecosystem but also unlock new value and potential from future innovations that support the ecosystem including the ability for local businesses in Myanmar to list and fundraise on SKYBIT platforms through this new tokenized ecosystem with direct conversion links to Myanmar KYAT, the local currency. This is not just an opportunity for the Myanmar Diaspora in China, Japan, Korea but also crypto enthusiasts and traders around the world from Asia to Europe, America's and Africa in the future.

SKBIT is also a member of the Singapore Blockchain community and has received various industry acknowledgments and features including a recent trip to the United States that included an interview at NASDAQ, one of the leading exchanges in the world. Beyond the press, and token sales tours, the SKYBIT Team remained focused and dedicated to transcending all boundaries by acting as a bridge for Myanmar and the rest of the world, unlocking both financial and social-economic inclusion in the process. Below are some links with additional information: