proMatrix Capital: Empowering a Decentralized Future

In the rapidly evolving landscape of blockchain technology and decentralized finance, innovative projects continue to emerge, revolutionizing the way we interact with financial systems and beyond. One such project making waves in the industry is the proMatrix Capital. With its commitment to fostering a decentralized future and empowering individuals, proMatrix Capital is redefining the possibilities of decentralized finance (DeFi) and opening up new opportunities for users worldwide.

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The Really Early State of web3

There will be success stories in this initial phase of excitement of web3, but it will also set the stage for greater utility, access, and maturity. Gartner refers to this current state in its Hype Cycle framework as somewhere between the “Innovation Trigger” and the “Peak of Inflated Expectations.” Once web3 interest wanes as experiments and implementations fail to deliver or lose luster among the first wave of early adopters, we’ll then hit the “Trough of Disillusionment.” Following that, we’ll evolve into a “Slope of Enlightenment,” which reflects evolutions in web3 application development, more promising company charters, and more important industry and market benefits. Then mainstream adoption starts to take off in what represents, the “Plateau of Productivity.”

We’re just at the beginning when it comes to web3. Where we are isn’t yet where we need to be. As a longtime digital analyst and anthropologist who has studied tech milestones in and around Web 1.0, Web 2.0, and now Web 3.0, digital trends will ultimately affect how people shape markets. And it will evolve with each major iteration and innovation of technology progress.

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Getting Stuck in the Current Chapter of web3

In 2021, investors poured a record $30 billion into crypto, more than the previous years combined. That same year, nearly $41 billion worth of cryptocurrency fueled the NFT market. Cryptocurrencies added 1.5 trillion in value heading into 2022.

The promise of web3 is more than the next big drop in trendy NFTs, a new alt-coin that will shoot to the moon with 1000% returns, and exclusive clout or elite clubs. Yet, as of this writing, .1% of Bitcoin miners are responsible for half of the mining output. The top 2% of accounts own 95% of the $800 billion supply of Bitcoin. The top 9% of web3 accounts hold 80% of the $41 billion market value of NFTs. And, browsing through the Forbes list of cryptocurrency billionaires, it’s problematic not to consider this early chapter of web3 as more elite than community driven.

There’s a saying, “what comes easy, won’t last. What lasts, won’t come easy.”

While this early incarnation of web3 is indeed exciting, it’s also exposing weaknesses such as NFT and crypto thefts, plagiarism and fakes, as well as exclusivity and elitism. But hey, this is a gold rush as Signal founder Moxie Marlinspike observed. The “beautiful” future of this chapter of the internet is currently in competition with those chasing money and clout, just like the early days of Web 1.0 and Web 2.0.

For example, losses from crypto scams this last year totaled $14 billion. As I was writing this, hackers stole over $600 million of NFTs from Ronin Network, the underlying blockchain that powers Axie Infinity. NFT copying is, also as of now, rampant. Marketplaces such as OpenSea and Rarible don’t yet have the security infrastructure

to alert artists that their creations are being copied, minted, and resold. The blockchain doesn’t verify that a person minting an NFT has the asset rights, so it’s really up to platforms to help protect owners and buyers. According to OpenSea’s research of its own marketplace in January 2022, over 80% of the NFTs listed were plagiarized art, fraudulent collections, or spam. There are cases where OpenSea has stepped in however. This makes it difficult, if not impossible, for artists to even know when copying is happening, let alone have a clear and consistent path to do something about it.

There’s also the issue of sustainability. Crypto mining consumes more energy than some small countries. The Cambridge Bitcoin Electricity Consumption Index reported that some miners purchased or built power plant plants dedicated to mining. As of now, only about 12% of mining energy comes from renewables. There are opportunities to invest in innovation that reduces the carbon footprint in every blockchain transaction.

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The Next Chapter of web3

If South Park is already tackling NFTs, then that means we have a lot of work to do. As a hopeless optimist, however, I want to envision and build a more decentralized technology ecosystem that contributes to the “slope of enlightenment,” beyond the hype. We must move beyond the dark side of social media and the elitism of big tech (and early web3). We must explore data democratization and ownership among internet users and communities. We must empower users with a new class of autonomy through wallets, soulbound identity portability, and dynamic communities. We must foster a more equitable and sustainable society and a better world for all.

I get that this sounds Pollyannaish.

Like every iteration of the web, the promise of web3 lies in what we decide we’re going to do differently together moving forward. As the Web3.1 event spotlighted, the point is people.

If this is about people, then the opportunity for innovation lies in what my colleague Henry King and I define as relationship transformation: it's the “why” of technology, reimagining web3’s trajectory to design concepts, inventions, and businesses around user relationships, those between companies and assets and people, and also between people and communities. With relationship transformation, we can define how we use decentralized and trustless technologies to create new asset classes and productive, collaborative communities and platforms that turn users and consumers into stakeholders and owners.

We can reimagine every industry from finance and insurance to healthcare and education to gaming, media, and music to accounting and legal to politics and governance to royalties and loyalty programs to software and technology to retail, marketplaces, and consumer goods and everything in between.

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What is proMatrix Capital?

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proMatrix Capital is a decentralized finance platform built on the Ethereum blockchain. It aims to provide users with a seamless and inclusive DeFi experience by leveraging the potential of smart contracts and blockchain technology. proMatrix Capital facilitates a wide range of financial services, including lending, borrowing, staking, and yield farming, while prioritizing security, transparency, and user control.

Key Features and Advantages:
1. Security and Trust:
proMatrix Capital places a strong emphasis on security and trust. By operating on the Ethereum blockchain, it benefits from the inherent security provided by the underlying technology. Additionally, the platform implements advanced security measures and audits to safeguard user funds and data, ensuring a reliable and secure DeFi experience.

2. Decentralization and User Empowerment:
Decentralization lies at the core of proMatrix Capital’s philosophy. The platform allows users to maintain complete control over their funds, eliminating the need for intermediaries or trusted third parties. This empowers individuals to be the sole custodians of their assets, reducing counterparty risk and enhancing financial sovereignty.

3. Cross-Chain Interoperability:
proMatrix Capital understands the importance of interoperability in the ever-expanding blockchain ecosystem. By leveraging innovative solutions, such as cross-chain bridges, the platform enables seamless interaction and compatibility with other blockchains. This not only broadens the scope of available assets and investment opportunities but also fosters collaboration among different blockchain communities.

4. Sustainable and Community-Driven:
proMatrix Capital places a strong emphasis on sustainability and community-driven decision-making. The platform leverages decentralized governance mechanisms, allowing token holders to actively participate in shaping the future direction of the project. This inclusivity ensures that the platform evolves in line with the needs and aspirations of its user base.

5. User-Friendly Interface:
Recognizing the importance of user experience, proMatrix Capital offers an intuitive and user-friendly interface. This enables both experienced and novice users to seamlessly navigate the platform and access its various features. By prioritizing simplicity and ease of use, proMatrix Capital aims to bridge the gap between DeFi and mainstream adoption.

Use Cases and Applications:
proMatrix Capital’s versatile infrastructure opens up a myriad of use cases and applications in the decentralized finance space. Users can lend their assets to earn passive income through interest accrual, borrow funds against their collateral, participate in yield farming to maximize returns, and stake their tokens to support network security and governance. Furthermore, the platform allows users to access a diverse range of decentralized applications (DApps) within its ecosystem, promoting a holistic DeFi experience.

As decentralized finance continues to disrupt traditional financial systems, projects like proMatrix Capital play a crucial role in shaping the future landscape. With its commitment to decentralization, security, and user empowerment, proMatrix Capital offers a reliable and inclusive platform for individuals to participate in the burgeoning world of DeFi. By fostering cross-chain interoperability, community-driven decision-making, and a user-friendly interface, proMatrix Capital is paving the way for a decentralized future that prioritizes financial sovereignty and innovation.