The 21st century is described by many scholars as the Golden age, where every aspect of modern-day society is driven by technology. Distributed Ledger Technology, which many describe as the pioneer of the 22nd century, has provided an avenue where an economy can exist without the need for trust. As a result of the growing competition within the blockchain ecosystem, it has forced various exchanges in the space to innovate as their designs are now geared towards the users’ comfort and useability. The cryptocurrency market is known for its volatility hence, it is important for everyone participating in the market to trade with uninterrupted and real time data to stay on top of trade execution. And that exactly is why Manilla Finance is building a platform that includes a P2P exchange and a utility bills payment platform.
P2P platforms are the embodiment of decentralization as they involve traders trading directly with one another without the need for a centralized third party to facilitate the transactions. Going down memory lane, when Bitcoin was first launched, the only way to have Bitcoin in your wallet was through the P2P market in China before the development of centralized exchanges and other means of entry into the market.
P2P trading is becoming more popular and acceptable as it gives traders the luxury to control pricing, payment time and type as well as also protect the buyer’s and seller’s rights using the escrow. Due to the widespread use of P2P, its trading volume makes up a significant percentage of all cryptocurrency activities, especially in emerging markets.
According to Chainalysis latest report on cryptocurrency adoption, the worldwide adoption of the asset class jumped over 880% with P2P platforms driving cryptocurrency usage in emerging markets. The report explicitly stated that P2P trade volume makes up a significant percentage of all cryptocurrency activity in the world.
In countries like Nigeria and Kenya, consumers have been noted to buy commodities and services, as well as pay debts using digital currencies. The latest statistics show that P2P BTC trading continues to grow across the globe despite the ongoing ban in some parts of Africa and China. Millions of dollars are traded in the P2P markets monthly.
According to Chainalysis, “Several countries in emerging markets, including Kenya, Nigeria, Vietnam, and Venezuela rank high on our index in large part because they have huge transaction volumes on peer-to-peer (P2P) platforms when adjusted for PPP per capita and internet-using population. Our interviews with experts in these countries revealed that many residents use P2P cryptocurrency exchanges as their primary on-ramp into cryptocurrency, often because they don’t have access to centralized exchanges.”
Packed with the information above, what we have done is to develop a most needed P2P exchange allowing for the trading of both layer 1 as well as top-performing DEFI tokens. The platform also flaunts the robust Manilla Service Suite sporting conventional fintech features bridge to the blockchain and enabling users to pay for their everyday utility bills using their preferred cryptocurrency – that is, a P2P exchange & payment solution in one box!
Development started in April 2021 and with support from global leading technology partners, the team is working round the clock to complete a flawless MVP that will be ready for market in a couple of months. It’s important to note also, that the seed round fundraise initiated to raise funds for speedy development was fully subscribed – a clear indication that investors are hugely interested in the project.
Unveiling the Innovative Manilla Application
Manilla Finance is poised to be the world’s most robust multipurpose application specially designed for all and sundry irrespective of their trading skill level. This exchange affords traders the luxury to purchase, sell and exchange digital assets on the go, without any hiccups and at the best rates among peers. It would probably be the first platform to also bridge traditional fintech services to the blockchain in a progressive effort to build real utility for top digital currencies as well as the Manilla native token, MNLA.
The trade portal has been wired in such a way that ensures it stands out differently compared to the already existing traditional P2P exchanges we see today. With a sleek and easy-to-use interface, Manilla has positioned itself to be a top platform for beginners, who find it difficult to understand the complexities of blockchain technology. The Manilla platform like every other conventional P2P trading platform involves users interacting directly with each other but with the integration of certain protocols inbuilt in decentralized and centralized exchanges – swap protocol, staking protocols backed by a native utility token (MNLA), a modest and sustainable high yield investment program for those who intend to stake their tokens for long-term and a lending protocol.
Manilla has so much more to offer than any other P2P exchange around today as it offers multi-device compatibility, escrow services that lock the funds until both parties agree on the exchange, dedicated servers in place ensuring lightning speed transactions and a guaranteed top-level security audit in check to safeguard against possible loopholes and protect assets even as you earn 25% bonus as a user from the referral program whether you are trading or not.
Our services do not end as, unlike the conventional P2P exchange, the transformation with Manilla is an important milestone in this space. With the invention of the Manilla Service Suite comprising of an endless list of features to ease daily financial runs from as little as the purchase of airtime, data, payment of utility bills, to the booking of flights, ticketing to spot lending, gift cards sales and high yield staking, the sky’s the limit for users of the platform as there is so much more to be enjoyed. The Manilla platform also has a reward system that incentivizes investors who stake the MNLA Token for 365 Days with 40% of all profits generated for that fiscal year. The long-term staking also automatically admits the investors into a DAO for open governance of the Manilla ecosystem.
The web-based, android and iOS application will launch in 44 countries including, UK, Australia and Canada. Manilla Finance brings us together and with this invention, we are able to tick off some drawbacks in the space. With the launch drawing closer, we invite all traders and blockchain enthusiasts to join our growing community on Twitter & Telegram.
About Manilla Finance
Established in 2021, Manilla Finance is a product of Manilla Technologies Ltd, a Web3 software-driven company, developed to solve the major challenges Blockchain adopters and users face in order to access cryptocurrencies seamlessly. The company houses a massive cohort of Web3 developers drawn from West Africa, South Asia & North America.
Manilla’s star product is the Manilla Finance application that houses the P2P portal – an exchange method that allows traders to trade directly with one another without the need for a centralized third party to facilitate the transactions. This means crypto fiat traders exchange their assets with another crypto holder or fiat holder. Traders have the flexibility to use other barter instruments for the exchange other than fiat. The platform aims to solve the challenges faced in accessing crypto from exchanges as most exchanges may not allow for direct funding with fiat. Whereas the Service Suite was developed to give a progressive use-case and utility to crypto assets.
For more info about this highly innovative and scalable project, visit Manilla Finance Official Website