RadioShack is planning to enter the DeFi sector


TL; DR Breakdown

  • RadioShack plans to debut in the DeFi sector
  • The company wants to enable mainstream adoption
  • The platform is planning to develop a native token

Over the last few years, more companies and individuals have continued to enter the crypto scene. In its massive pool of traders entering the market, decentralized finance boasts of a larger chunk of users in the sector. In another major entrance into the DeFi market, an electronics company, RadioShack, has announced its entrance into the decentralized finance sector. RadioShack has been all about answering people’s questions since its inception, but this move has got users asking many questions.

The company wants to enable mainstream DeFi adoption

According to a statement by the firm, the company has migrated into the decentralized finance sector. The decentralized finance sector of the crypto market is a branch that allows traders to carry out their activities without the need for a third party which is usually financial entities.

In a statement that is now plastered on its website, RadioShack will be the intermediary between corporations worldwide and the diverse world of the crypto sector. Also, RadioShack mentioned that it is the only company that can become the much-needed intermediary and provides access to massive amounts of crypto products, boosting adoption.

To bolster its move into the DeFi sector, the company said it has entered into a collaboration with Atlas USV. The latter allows protocols across the DeFi sector to use its network to develop its platforms. With this, the platform would be hoping to mirror the likes of Uniswap and create its decentralized exchange, offering various services in the sector.

RadioShack is planning to develop its native token

Even though most decentralized exchanges have listed the native token of Atlas USV, the token is still very new in the market. It cannot be tracked by most coin aggregator websites like CoinGecko and the likes. In its explanation of how the token works, RadioShack said traders could lock any token in the treasury pools and earn rewards in return.

Also, the DeFi network has been in the works in the last few years by the same men that bought over RadioShack last year. Confirming the move, The company’s boss Tai Lopez says his main aim is to enable RadioShack to debut on the blockchain. His initiative will make the company the first to shift into the technology.

RadioShack, which showed promise at one period, went into bankruptcy twice across 2015 and 2017, leading to the shit down of the company. With this latest move, it looks like a native digital asset, RADIO, might already be in the works.

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Owotunse Adebayo

Adebayo loves to keep tab of exciting projects in the blockchain space. He is a seasoned writer who has written tons of articles about cryptocurrencies and blockchain.

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