Introducing CeFi’s First Partner, ‘Token Pass’

CeFi_Official
5 min readJan 5, 2021

Hello, this is CeFi.

Last time, we introduced ourselves with a brief story about our platform.

Today, we would like to introduce you our first partner, Token Pass among three consisting of creating a CeFi’s financial ecosystem all together.

One might wonder why Token Pass was chosen to be presented first is because it tends to signify the overall definition of our platform, CeFi: ‘Decentralized Integrated Virtual Asset Management User Friendly System’.

Let’s get started then!

Token Pass, a P2P multi wallet in CeFi ecosystem based on a convergence of Fin-Tech and blockchain technology

First of all, ‘User Friendly’

For beginners in blockchain and cryptocurrency, understanding and learning definitions, concepts or how to even start is not something they can easily grasp.

When you think of cryptocurrency, do any of these ever cross your mind first: puzzling numbers on charts, red/blue arrows, jargons, so many different kinds of tokens or fancy names? Well, does it have to be this much complicated and difficult?

Thereby, CeFi has adopted Token Pass, a P2P multi wallet which provides superior ‘user friendly’ interface to enhance users’ understanding and accessibility to the crypto.

Not only its simple and delicate UX/UI improves a level of visual accessibility, it also lowers the entry barrier to the crypto market for any users to be able to use the wallet through a simple process. Just like when we go to the bank to handle a simple financial errand carrying a wallet with our ID and credit card; our users can also do the same thing, but even more conveniently in our ecosystem.

With our ‘user friendly’ Token Pass wallet, easy and convenient financial life can be finally realized.

Second of all, ‘Integration’

Users must have experienced some frustrations and complications when it comes to asset management due to the lack of integrated financial system. It’s because not only our traditional financial originations, but also many of the current crypto exchanges and wallets provide all different kinds of services and benefits as well as handle various tokens, commission policies, or financial products.

For instance, if one’s main exchange does not handle one specific token one wants to trade, one must find another exchange and go through the registration process in order to buy the token and have it sent to one’s wallet, or vice versa. This can be very time and energy consuming, not to mention the amount of commission fees depending on its frequency and the trading volume.

Therefore, CeFi comes in place here presenting a multi wallet in our integrated platform where users are able to manage their assets more comprehensively. Not only our users can manage any kinds of tokens in their assets but also can take advantage of flexible token trading or swaps with other users within the ecosystem with no strains of complex process, time or commissions.

It would be able to act just like the wallet of the wallets. We hope our users can enjoy a more efficient and wise crypto financial life.

Last but not least, ‘Decentralization’

‘Decentralization’ might cross your mind first when you think of blockchain. It’s because ‘decentralization’ is that big of a deal in this field; hence, it’s not so much to say that a project truly in pursuit of this value is the one that has the true potential to lead the future global crypto market.

Unfortunately, no fully decentralized blockchain/crypto platform is yet to be seen, especially a financial one. As that having been said last time, most of the platforms are more likely to be rather centralized since they themselves directly involve in managing and operating their users’ assets.

Thus, CeFi plans to construct a system where true decentralization takes place through an automatic distributed system by establishing a decentralized exchange based on Pass Token.

To achieve this, BOB (Block-on Block) technology is under development to perform financial functions like remittance, swap, trade or investment on cryptocurrencies using an automatic P2P method in the ecosystems with no intervention of any third intermediators. This is crucial since it mainly accounts for promoting a transparency and trustworthiness of the blockchain technology.

Thanks to this, it can minimize the time and commissions driven from token trading and swap between users resulting in boosting more active trading and finally to the growth of the ecosystem.

Consequently, this increased quality and volume of trading can lead to higher contributions of the users which brings more incentives back to themselves as a virtuous cycle.

To end, one can say another level of decentralization shall be realized here.

In a nutshell, Token Pass, a multi-wallet used in CeFi ecosystem on its currency unit of CeFi token improves accessibility by offering a more ‘user friendly’ UX/UI to our users, enhances efficiency of token trading via our integrated asset management system, and builds transparency and trustworthiness through our decentralized exchange system.

We hope you have been a bit more enlightened about our first partner, Token Pass.

Our second third story is coming up soon covering our second partner, Pass Bot.

Thank you for reading.

CeFi.

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