Decentralized finance is called the future of the global economy. It is predicted to come to every sector, and some are already enjoying the opportunities of this young industry. The Ultima ecosystem opens the doors to the DeFi world for everyone, making it easier to interact with new tools and bringing a fairer future closer to everyone.
Ultima is an ecosystem of decentralized products using blockchain technology. Ultima uses an easily scalable Smart Blockchain network, which is characterized by high throughput and transaction speed. This is achieved through the use of the Delegated Proof-of-Share (DPoS) consensus algorithm which came to substitute an energy-uneffective Proof-of-Work consensus algorithm used by Bitcoin.
Ultima ecosystem products are aimed at meeting the needs of a wide range of users in their daily routine – transfers, purchases, preserving assets from depreciation and counteracting other risks. These are the requests that come from the users, and that’s why Ultima’s products that perform such functions quickly gained popularity. Ultima was launched by a team of professionals with dozens of years of experience in entrepreneurship and IT development. Since March of this year Ultima has quickly cultivated its user base to 2.8 million people from 120 countries.
DeFi-U stands at the center of the Ultima ecosystem’s product line. This is a staking service that allows users to receive rewards for maintaining the stable workflow of the decentralized network. The main strength of any blockchain is its decentralized architecture. To provide the necessary level of decentralization, blockchains need active user support. In the Bitcoin blockchain, these are miners, without whom it is impossible to create transaction blocks. In modern blockchains with high transaction speeds, such as Smart Blockchain, these are stakers. For their active participation, the system rewards them with internal ecosystem tokens called Ultima.
The Ultima token is the main tool for interacting with ecosystem products. Ultima is used to pay fees when making transactions with Ultima and to make transactions as well. Ultima tokens are credited to stakers’ accounts as rewards. The token will also be used in upcoming products, such as crypto debit card, marketplace, exchange and crowdfunding platform. All these services are currently under development and are included in the near term plans in the roadmap of the project.
Thus, active users of the Ultima ecosystem not only benefit from its decentralized products but also maximize their assets via taking part in DeFi-U.
To become a staker in the Ultima ecosystem, one needs to choose a so-called SPLIT license, which determines the limit of a SPLIT contract, and then to purchase a SPLIT contract. This is a package containing so-called SPLIT tokens. Storing SPLIT tokens on the SMART WALLET wallet is rewarded in ULTIMA. The more SPLIT tokens are stored in the SMART WALLET, the more ULTIMA are rewarded.
Ultima’s mission is to become the world’s most widespread digital currency and an ecosystem accessible to everyone in the crypto space. DeFi-U aligns with this mission by opening up the unique capabilities of decentralized finance to anyone, regardless of their level of wealth. Ultima lowers the barriers to entry into the DeFi world and makes it truly global.
Source: https://blockchainreporter.net/ultima-ecosystem-opens-up-easy-access-to-the-complex-world-of-defi/