The hype is realy, defi will take over the world. I dont really know if thats true. Being in crypto and learning about it and following it for such a long time have seen investment flow into and out of coins, tokens and ICOs. There is always hipe that follows something new an exciting always happening in this world.
Lets be honest, I am not really following that much into the defi world, and I know there is a lot of hype going around the newer tokens. These new tokens are being pumped like crazy. Anything invested in over 2 weeks have all gained 2x. The one issue we have seen from this is that gas price eth has gone up and is now costing upwords of $99 to run smart contracts. While there are alternatives for this, ether is the poster child for smartcontracts based defi contracts.
A decentralized economy:
I am an old school type follower and sometimes I think that btc will always be btc, while there will be use of these tokens, coins btc will be the king of coins. Bitcoin by design is a decentalized economy around itself and is built in such a way that anyone can use it, we just need to build services around it to bring ease of use and acceptablity. Similarly I believe that these tokens most of the time are pump and dump setups that usually fail. However one power of the systems built on ether are contracts that are not designed to aim for token staking or profit sharing setups and these are over looked in the Defi community.
A website that I have been following that is fully regulated, and offer smart contracts based (fully backed by colletral) offers a peer to peer or p2p options for lending and borrowing, they have other options such as crypto lend and crypto backed loans which are also interesting concepts. I will try to cover each aspect in my future blog posts but as a starter they are giving $3000 that you can give out on loan for 30 days for trying it. Once the 30 days is up you get to keep the profits free of cost or withdraw as you please. This offer is valid for a limited time only there after they will offer $1500 for month of free testing. Again the profit is yours to keep, reinvest or withdraw totally upto you. I have been using the site for quite sometime and now using the crypto lend feature which allows to earn up to 9% on profit sharing for providing liquidity to Dex's the best part is its easy to use and fully managed by the team who are very helpful on support on email also. For now signup to myconstant and simiply verify yourself to start earning.
In future posts I will cover each aspect of the website and its options so you understand the look and feel of how it works. I do think this is the next big thing in defi and it atleast warrants a trial, remember its completly free so there is no harm in trying it out.