ConcordFi will be launched with the necessary tools needed by the IoTeX blockchain to evolve its ecosystem, making it possible to meet suppliers and borrowers.
But could this be just it?
Obviously not!
We’re just beginning to create something unique that no other blockchain has ever seen.
Most of our roadmap comes from the potential that our protocol could benefit from MachineFi.
The whole concept of data ownership and supply is so big and undiscovered that most of its usage cannot be conceptualised yet. People should and are owners of the data they produce, so it comes naturally to think that people should decide their value and how to use them properly.
Some examples?
Solar panels, auto-driven cars, the temperature of your neighbourhood, how many steps you take each day, your browser cache and cookie, your webcam data, and whatever else you can imagine.
This will open a whole new data-finance world and new opportunities for machines that require high energy usage and costs. All of this is possible thanks to the IoTeX network and its scalability.
This will broaden financing and capital allocation opportunities for machines requiring high upfront costs and help build communities and scale the network to new heights.
Let’s dive deep into a step by step guide about our other ideas for ConcordFi.
More wallets, more applications.
Getting access to ConcordFi has to be easy, wherever you are and whatever wallet you decide to use. We will implement more and more wallets.
More tokens to supply. Yes, also, your so loved NFT.
After the official launch, our primary goal will be to expand our TVL through competitive APYs and more supported tokens. We aim to accept NFTs as collateral and finally give the whole NFT ecosystem on IoTeX more value.
The governance token for ConcordFi.
With the launch of our governance token, the users will be able to vote for which tokens the protocols should accept next and make all the protocol decisions community-driven.
Stablecoin.
This will facilitate a large and growing volume of transactions. IOTX will be used as exclusive collateral to mint the stable coin and added to the money market as collateral.
Collateralisation of cash-flow-generating autonomous machines.
Just as fixed income structured finance and securitisation products, autonomous machines, such as Robo-taxis, solar panels, and satellites, can be tokenised and purchased by investors. Token holders will own both the principal value of the device and any future cash flows generated.
Fractional ownership of machine networks:
This enables new financing and capital allocation opportunities such as Initial Machine Offerings (IMO), where capital for new machine networks is raised for future cash flows. It will solve the financing problems of the hardware industry, which has incredibly high upfront capital requirements for building new infrastructure and machine networks.
This process will take some time, but we are already thrilled to work on it.
We’ll update this medium post periodically to update everyone about the status quo of the ConcordFi protocol.
