Sheesha Finance is proud to present their spotlight on Alluo.
The power of decentralised finance (DeFi) has caused quite the revolution in both the traditional finance and crypto industries — and for good reason!
Reaching a level of financial health is a dream chased by many. A dream that is increasingly difficult to achieve through the traditional financial framework. It is the desire for financial health and freedom that has propelled DeFi into the spotlight, resulting in being adopted by millions of users worldwide.
A Spotlight on Alluo
For the first time, a decentralised financial system through blockchain technology has provided every user with equal opportunities. This supports them in attaining a level of financial freedom in ways that were not possible just a few years prior.
Alluo aims to put the power of DeFi into everyone’s hands. By providing higher yields on cash deposits than banks will ever be willing to give, offering a stable APY of 8% by plugging into various DeFi protocols on the back end. Try asking your bank for even half a per cent and see how that works out.
Earn 8% per year with Alluo. Image via alluo.com
Alluo is making DeFi simple and accessible to the masses. Allowing the average user to benefit from Decentralised Finance protocols without the complexity and intricacies of needing to know how to navigate the cumbersome and confusing world of DeFi.
Many of us who have been around the space for a while often forget the learning curve that is involved with DeFi and how confusing it can be to get involved. Crypto complexity is one of the major barriers to mass adoption. If something isn’t easy or convenient, most people aren’t going to bother. Alluo bridges the gap, bringing together the convenience of Centralised Finance (CeFi) platforms with the efficiency of DeFi protocols.
Send money through Alluo. Image via alluo.com
Alluo provides users with the simplicity of an innovative, well-designed, beginner-friendly app that is easier to use than a regular banking app. All while unlocking the power of complex DeFi protocols behind the scenes through API integrations. The Alluo app is so simple to use that users can benefit from powerful DeFi protocols at the touch of a screen.
Alluo is changing what it means to be a Fintech bank by creating a solution that is non-custodial. Meaning that users hold power and ultimate freedom over their funds. Non-custodial solutions remove the risks involved with centralisation and third-party risks that are inherent in nearly every other Fintech and traditional finance application. Here is a look at what sets Alluo apart:
A Non-Custodial Solution Providing Banking Services
I know, the words “banking” and “non-custodial” sound odd in the same sentence. They traditionally mix about as well as cats and dogs and are the very antithesis of one another, but they don’t have to be!
Alluo has created an incredibly well-designed platform where users can enjoy high yields while also being able to send funds anywhere in the world. Making investing as easy as it is on CeFi platforms, but still allowing users to retain full control over their private keys — how is this possible?
Once the application is downloaded on a mobile device, part of the data containing the user’s unique private keys is segregated and stored in a corner of their Google Cloud account or Apple iCloud. The operating system of the mobile device securely protects, stores, and manages the private keys. Thanks to the Google Cloud/Apple iCloud aspect, should a user lose their phone they will still have access to their private keys as a fully functional recovery system.
Alluo’s User Experience
The user interface is really simple to use and intuitive. Alluo is one of the most beginner-friendly interfaces around which is perfectly suited for newcomers into crypto on both IOS and Android. It is amazing to see how far the crypto space has come with complex DeFi protocols now being able to be accessed within seconds on one easy mobile app.
Fiat can be deposited through a host of network onramp third parties like Moonpay, Transak and Ramp.network. The app has access to private keys and can deposit funds to various yield protocols. There is no KYC needed to use the Alluo platform, but KYC information is required and held with the fiat onramp network providers.
Once fiat is deposited into the app, the funds are automatically converted to stablecoins on the Polygon network. This directs the liquidity into trusted DeFi protocols such as Curve, Convex, AAVE and others.
Earn with Alluo. Image via alluo.com
The Alluo Token
Alluo token holders who have staked their assets on the platform will receive the excess spread between the realised APY and advertised APY. Excess spread is used to purchase additional Alluo tokens on DEXes that are then distributed to Alluo stakers. This creates continuous buying pressure for the token and makes staking highly attractive to users.
This action simultaneously increases the demand for the token while reducing the circulating, non-staked supply which will lead to capital appreciation of the token as adoption grows.
The Alluo Team
The Alluo team is made up of a strong foundation of members who are highly experienced in the areas of Fintech and DeFi. The team has an impressive background, putting them in a strong position to run a successful platform that aims to tackle the ambitious task of making DeFi easy and accessible to the masses.
The team have experience working together for several years before founding Alluo which is always a good sign as it helps to ensure team cohesion, accountability and professionalism. Prior to Alluo, the team have experience in scaling FinTech apps and dealing with regulatory oversight.
Core contributor — Didier Baclin
Didier is a computer scientist and applied statistician and has experience working for big tech companies such as Amazon. Before co-founding Alluo with Remi, Didier was CEO at FIBR. Didier also spent nearly seven years at Zopa, a neobank in the UK, where he was Chief Product Officer.
Core contributor — Remi Tuyaerts
Remi is passionate about incentivising people to use technology. As a technology leader, he believes that technology should be a vehicle to a bigger goal. Focused on building and leading efficient technology teams and working on projects with use cases in IoT, Blockchain and Finance. Remi held previous positions as the CTO for FIBR, was the CTO and Founder for Lendflo, a lead software engineer for PUMA electronics LTD and founded SecMeRe. Remi’s impressive experience and skill set make him a strong cornerstone for the Alluo team.
Withdraw money on Alluo. Image via https://www.alluo.com/
Why They Like Alluo
Ease of use and convenience is going to be the key to crypto mass adoption.
The current DeFi protocols are currently too complex and confusing for the average crypto adopter. An “all-in-one” simple to use platform that connects multiple DeFi protocols is akin to a DeFi paradise that many crypto enthusiasts could previously only dream about.
By creating a next-generation platform that connects the best that DeFi has to offer, Alluo has created that DeFi paradise presented in one incredibly simple to use mobile application. They live in a busy world, many of us are constantly on the go, and crypto users want to be able to access their funds while on the move from their mobile devices.
Crypto portfolios can often be messy and cumbersome. With many hodlers having crypto spread across a dozen different DeFi platforms and needing to plug in hardware wallets and use browser extension wallets to connect to a plethora of different DeFi protocols to manage their funds on their computer.
Wouldn’t it be easier to have everything in one place and manage it all from a single app on a mobile platform?
The convenience and ease of use of centralised lending platforms have exploded in popularity due a to low barrier to entry and minimal learning curve. They believe that the average crypto user and those new to the space shouldn’t have to rely on centralised platforms nor complex protocols to earn a high yield and that everyone deserves easy access to the benefits of DeFi.
The current framework will never support mass adoption due to its complexity so they fully support and love the platform that Alluo has created and could not be more excited to be working with them to bring this DeFi paradise to life and place it in the hands of every crypto user.
Has Alluo piqued your interest? Fortunately, if you have staked your $SHEESHA tokens you can tap into a share of Alluo awards from the recent distribution. Don’t worry if you missed out, as you can earn rewards from their upcoming partnerships and distributions in a few clicks! You can simply connect your wallet directly to their Sheesha dashboard and staking your $SHEESHA tokens on BSC, ETH, or Polygon Matic chains. Doing so will make rewards immediately accumulate, so you can reap the benefits of several project distributions and rewards — including Alluo!
Why Stake with Sheesha?
Sheesha Finance is a leading DeFi Staking Platform. They provide premium cryptocurrency portfolio diversification and rewards. Rewarding investors of any size, from small to large ticket holders, with DeFi tokens.
They have built an Investment and Incubation platform, Sheesha Foundry, with an extensive network of partners who are thought leaders in the crypto space. Allowing them to consistently discover promising projects early on.
Their easily convertible assets can be used to maximize rewards and gain exposure to existing and upcoming DeFi projects. With plans to become a member-managed Decentralised Autonomous Organization (DAO), Sheesha Finance is dedicated to upholding full transparency and integrity within the DeFi space.
Sheesha staking can be done with $SHEESHA tokens. These can be purchased on Uniswap, PancakeSwap, and QuickSwap.
Stake now and passively earn tokens from some of the hottest projects in the Crypto space.
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