frequently asked questions

FAQs

general

DEFIT is an ERC20 Token launched on April 7th 2021. ERC-20 is similar, in some respects, to Bitcoin. ERC-20 tokens are blockchain-based assets that have real world value and can be sent and received. The primary difference is that instead of running on their own blockchain, ERC-20 tokens are issued on the Ethereum network.

DEFIT stands for Decentralized Fitness. It aims to empower the global fitness community by providing them their own secured, reliable, fast payment alternative to traditional currencies to proceed transactions. Dodging all complications related to multi-currency portfolio management and avoiding traditional bank and store fees for their digital goods and physical services offering. Enabling gamification, enhancing user privacy and building user loyalty through staking and exclusive benefits.

$DEFIT can be purchased on Uniswap, Safeswap, and Bilaxy. Many more exchanges coming in the near future!

YFDAI has made sure that DEFIT — and each project that launches through Launchpad — has an audited smart contract. This requirement is in place to increase trust and transparency, and to honor the YFDAI ethos.

The DEFIT smart contract successfully passed the audit done by Blockchain Consilium. Moreover, all of the DEFIT team members have successfully gone through KYC, which is another YFDAI requirement for a project to launch on Launchpad.

To be determined.

The DEFIT team is currently exploring alternatives such as Binance Smart Chain where the cost of transactions can come down greatly inside of the 360wellness application. The team plans to onboard 1 million users by the end of 2022, and so usage of the DEFIT token within the app is a key component.

The DEFIT plans to implement NFTs as a core value of 360Wellness (parent company) and other digital fitness applications. There are many benefits of integrating NFTs into digital fitness projects with $DEFIT as the main proprietor of the world’s first cryptocurrency.

YFDAI has made sure that DEFIT — and each project that launches through Launchpad — has an audited smart contract. This requirement is in place to increase trust and transparency, and to honor the YFDAI ethos.

The DEFIT smart contract successfully passed the audit done by Blockchain Consilium. Moreover, all of the DEFIT team members have successfully gone through KYC, which is another YFDAI requirement for a project to launch on Launchpad.

FOR PROJECTS

Use case and benefits  here.

The long term benefit of DEFIT enables you to earn your wealth through rewards without impairing your personal life and / or health. 

The team is actively checking our socials, however, for immediate attention please contact hello@defit.io.

GENERAL INFO

With proof-of-work, miners are the participants. They are more likely to add additional blocks to the blockchain if they have more computational power, which is fueled by electricity.

In proof-of-stake, miners are more likely to win additional blocks if they have more money –  ether , in the case of Ethereum. In other words, proof-of-stake relies on “proof” of how much “stake” users have. (Coindesk)

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