Cent acts as the gateway to the growing world of Decentralised Finance (DeFi), it allows users to understand, explore and invest in digital assets, responsibly. It also provides an alternative to financial services offered by traditional banks like lending, borrowing, saving and sending/receiving. Although DeFi applications are growing at an accelerating rate, user acquisition has been from existing cryptocurrency investors, a small portion of the total addressable market (only 1 in 4 crypto users invest in DeFi).
For DeFi to achieve long term growth & sustainability, more users and greater liquidity, and responsible access is required. Our belief is that DeFi will create greater financial inclusion long-term, but it is currently only accessible to those with in-depth technical knowledge, or a high risk tolerance, which makes DeFi incredibly exclusionary and limited to the elites.
To address this, we focus on:
• User experience - making Cent intuitive and easy to use (focus on education on DeFi specific topics and personal finance)
• Cost - ensure we are affordable by being competitive on price & scalable (layer 2 integrations)
• Accessibility - focus on broad distribution through DeFi education and strategic partnerships globally
• Appeal - focus on causes dear to millennial/gen Z
• Responsible access
After collecting user feedback through surveys, interviews and market tests, we believe these are the largest problems that prevent mass market adoption and need to be addressed.
Our goal is to be the go-to crypto app for millennial investors looking for investments in DeFi projects and saving products. DeFi brings the same values of the internet into the world of finance - openness and governance based on new ideals, and we want to provide everyone to access to this. Cent is built on three key pillars:
• Education: Users are taught about critical concepts of DeFi and investing to improve customer knowledge, increase customer trust and build a relationship with us which leads to more responsible investing
• Experience: Users can manage their investments and see where their money is and what it is doing for them at any time. Users should be allowed to go on ‘auto pilot’ or take a hands on approach to their investments without concerns of losing their investment, yet maintain full control and custody
• Convenience: A smooth service allowing users to invest, send/withdraw and receive crypto transparently & responsibly more