Many projects have been added to the DeFi race. Most of them are based on well-known blockchains, such as Ethereum. They allow the exchange of digital assets by paying a fee for the swap. At the moment of writing these lines, Uniswap (UNI) is the most used and has the most valuable token worthing 15b$.
The payment of the fee of Ethereum gas would be an enormous problem for little and medium transactions on this kind of DeFi exchanges. There are interesting movements on the blockchain industry: state-of-the-art blockchains such as Algorand (with nearly 0.001$ fee per transaction and 4 seconds completing) are adding slowly interesting projects like Yieldly. For an complete review, please visit FR4X's article on this topic.
Functional, but still on its childhood, seems very promising, fast and secure. The team is currently building bridges to other blockchains, so many assets will be available soon. As the fees are not an issue, the token can skyrocket climbing positions in the rankings.
Just like in traditional stocks exchanges, the election process is as follows:
- Fee prices policy plays the most significant driver in the election process.
- Most of the assets are exactly the same regardless of commissions paid in one exchange or another.
- The cost of changing one for another doesn't take a significant amount of time.
I would love to take a view in a year or two to see what has happened with these protocols. Even if Yieldly gets a small portion of the pie would mean a huge price increase.
