May 7th, 2021
May 7th, 2021
May 7th, 2021
May 7th, 2021
May 7th, 2021
May 6th, 2021
The first-ever decentralized film financing platform, Mogul Productions, is launching a non-fungible token-based competition for the holders of Access Pass. In addition to scoring a role in the upcoming movie, the winner also takes away over $1 million worth of STARS tokens.
Registrations for the Centrifuge protocol token sale have started and live up to May 21st. Check the below details on registerations and timelines.
AliumFinance and the AliumSwap DEX platform is one of the early adopters of the HECO network and has gained wide interest from players in the DeFi world.
The recent meteoric rise of Safemoon turned many heads in the DeFi space over the last weeks.
Troy Trade, the leading global prime brokerage firm for institutional investors and professional traders, announces the launch of Troy 2.0 to expand the purview of its services beyond exchange trading to an advanced smart hybrid asset management platform.
Blockchain scaling network Polygon has announced a $100 million fund to make the decentralized finance space more accessible to end users.
QuiverX Capital is a DeFi crowdfunding protocol that acts as a unique platform for digital assets to interact with the physical world.
BENQI is proud to announce the raising of $6 million in funding from external investors and advisors.
Public Mint and Unmarshal have formed a strategic partnership that would see the full integration of the Public Mint blockchain on Unmarshal’s blockchain data platform.
Reef Finance has announced a partnership with Aavegotchi, one of the most famous and creative projects in the non fungible token (NFT) space.
DeFi is a short way of writing Decentralized Finance. Generally, DeFi encompasses cryptocurrencies and financial smart contracts, protocols, and decentralized applications (dApps) that are built on the Ethereum blockchain. To break it down further, DeFi is simply a blockchain-based financial software that can be joined together piece by piece like Legos.
The key components of DeFi include digital assets, smart contracts, protocols, and decentralized applications. A good example of DeFi is Bitcoin and stablecoins, the likes of Paxos Standard, USDT, and Dai. DeFi applications do not need arbitrators or intermediaries to be functional. At all times, every user has total control over their funds, and the code is used to specify the resolution of any dispute that might arise.
DeFi currently has three main functions and they are:
A decentralized exchange (DEX) is a cryptocurrency exchange whose mode of operation is decentralized in nature. Meaning that no central authority has the final say over its working. At Decentralized exchanges, peer-to-peer cryptocurrency trading is allowed. Like the decentralized exchanges, Decentralized applications (dApps) aren’t under the control of any single authority. They are digital applications or programs that operate on a blockchain or peer-to-peer computer network, rather than a single computer.
Some popular DeFi apps include the following:
The future holds a lot in store for DeFi. The financial industry is fast moving towards a future of digital money. Hence, the need to explore DeFi the more. As at the time of writing, the market worth of Decentralized finance is over $4 billion. For many companies, the Ethereum blockchain has become the favorite go-to for their financial products. These companies make use of the Ethereum blockchain to build every one of their financial-related products. As time passes, the world can expect more DeFi products.
Remember the promise of cryptocurrency to make money and payments accessible to everyone, regardless of where they are located? Well, Decentralized Finance (DeFi) is taking that a step further. DeFi was initiated to bring about a global, open alternative to the financial services of today. This includes services like insurance, loans, trading, savings, and a host of others. Because of DeFi, they will become more accessible to anyone who has a smartphone and an Internet connection, no matter their geographical location in the world.
DApps are applications built on the most popular programmable blockchain in the world, Ethereum. These Ethereum-based applications can create, store, and manage cryptocurrencies on the blockchain. Also known as smart contracts, DApps are agreements or contracts that are enforced by the Ethereum blockchain. These agreements are irreversible and you can create such complex contracts without needing a middle man. A good example is Ocean Protocol, a project built to bridge the gap between data providers and organizations that need data to make the world a better place.
Enter the answer in DeFi and blockchain are interwoven. DeFi cannot exist without blockchain. Decentralized Finance is built upon blockchain networks. This ecosystem of financial applications allows users to have complete control over their assets. Users can interact with the ecosystem using peer-to-peer decentralized applications (DApps).
Staking is not just one aspect of the DeFi ecosystem that is growing very rapidly, it is also among the latest trending topics in the crypto industry. Staking is exclusive to the crypto community and has to do with crypto owners locking their assets to receive rewards. This debt mechanism depends on DeFi to excel. Similar to conventional banks, DeFi makes it possible for people to borrow by using their crypto assets as collateral.
Just about anyone can invest in DeFi and for different reasons. Using the blockchain technology, DeFi will allow you to enjoy all the regular financial services, only this time no third party is involved. DeFi technology makes possible the creation of smart contracts with codes that facilitate managing and accepting deposits, liquidating collateral assets, handling collateralized loans and so much more under the contract terms should there be a fluctuation in their values.