SteelBird: Safer & Easier DeFi

All-in-one multi-chain farming aggregator, growth engine & AMM designed to improve user safety, usability, ROI, and transaction fees. Driven by AI & predictive Machine Learning models.

3 min readMay 7, 2021

Introduction

The Decentralized Finance (DeFi) momentum takes the crypto promise a step further. Envision a worldwide, open alternative in contrast to the most popular financial services you use today — savings, loans, trading, insurance and that’s only the tip of the iceberg — available to anybody on the planet with a smartphone and internet access.

Recently, DeFi products have acquired high potential and interest, still, the current DeFi protocols are prone to smart contract failures, rug-pulls, and exploits, reaching a total loss of $285M since 2019. Secondly, staking, swap, and tracking assets through multiple protocols is a significant impediment to widespread adoption; currently, figures indicate that 8 out of 10 DeFi investors have used cryptocurrencies in the past as power users, as a result of poor adoption from traditional fintech users.

SteelBird seeks to improve DeFi adoption by providing a robust platform with features that enhance user trust and accessibility for both existing and new entry DeFi users.

Risk Scoring & On-Chain Alerts

SteelBird is using proprietary AI & Machine Learning predictive models to provide a variety of risk scores including portfolio, assets, protocol and pool pairs by analyzing millions of blocks data entry points.

On-Chain alerts are sent out in real-time, prior to a block’s completion, by reviewing each transaction before is sent to the ledger for mining and providing an extra layer of security when there is a potential rug-pull, significant APY decrease, or other portfolio risk increase associated with the user’s owned assets.

Singularity Chain, Built-in AMM DEX and Multi-chain Wallet

SteelBird is using his own custom chain built on Polkadot Substrate as a parachain to achieve singularity and make it easier for the users to participate in different protocols and pools with minimal effort. Correlated with the built-in AMM DEX and multi-chain non-custodial wallet it can achieve faster & cheaper swaps without the need to switch networks, enabling one-click distance farming.