DeFi

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Decentralized Finance, DeFi for short, is a term used to describe the decentralized services and products made possible with the help of decentralized technology. Example of DeFi includes lending services, decentralized exchanges, marketplaces, stablecoins, derivative platforms and much more. Other entities in the ecosystem include infrastructure platforms, payment providers and custodians.

Decentralized finance is an upgrade of traditional financial systems, which are centralized and as a result of this centralization, prevents a lot of individuals from accessing financial services and contributing to the global economy. The primary advantage of DeFi products is its ability to cater to the unbanked and undocumented, which form the majority of the world’s population. Many Defi entities describe this as being the most salient feature of decentralized systems.

These open source financial initiatives is a key part in the growth of the crypto ecosystem, as several projects have built their services and products on reducing the trust involved in financial services. This is in contrast to “fintech”, which primarily focuses on new emerging systems that are beneficial, but centralized.

The DeFi ecosystem has been steadily growing since the launch of projects during the boom of 2017, and current statistics show the total value locked in the ecosystem to be roughly $471 million. Examples of platforms include the MakerDAO ecosystem, Augur, Bancor and the Kyber Network.

Given that decentralized finance tools is at its optimum with a greater number of users, multiple scaling solutions, such as second layer protocols, are being worked on - including the Lightning Network, which has been growing in usage over the past year. 

In this tag, read more about decentralized finance (DeFi) news, price predictions, opinions and analyses created by users.


Axion Main-net set to relaunch

11 Nov 2020 1 minute read 0 comments Shakespeare17

AXION MAINNET: SET FOR RELAUNCH! What is Axion? Axion is the answer to our global financial markets that are on the brink of disaster The original solution to this impending collapse was Bitcoin, a decentralized peer-to-peer currency. However, sinc...

DIGITAL OR PHYSICAL FARM ? IN THIS ARTICLE YOU WILL KNOW THE DIFFERENCE 2.3 MIN READING TIME

11 Nov 2020 3 minute read 0 comments Socialmoneynetwork

THERE ARE TWO WORLD WE LIVE IN NOW, PHYSICAL WORLD AND DIGITAL WORLD. ALMOST 30 YEARS BEFORE TODAY, WE WAS  LIVING IN THE PHYSICAL WORLD COMPLETELY. MEN HAS TO WORK PHYSICALLY TO EARN INCOMES, HARD LABOR.   THE DIGITAL ERA HAS COME.  INVESTORS HAD T...

Are You Ready for the Bull Market!?

11 Nov 2020 4 minute read 9 comments johnwege

The markets have an excitement in the air, bitcoin has reach a 3-year level price high, ethereum is on the verge of eclipsing its 3-year high as well, and the DeFi coins are coming back to life recently as well.  It is truly an exciting time.  Some p...

Covalent: The data powering the DeFi economy

10 Nov 2020 1 minute read 0 comments OleZba

Our vision is to empower the pioneers of tomorrow by providing the richest and most robust data infrastructure for the entire blockchain ecosystem Covalent Research was announced in 2018. Covalent provides a unified API to bring full transparency a...

December 1st could be the date for Ethereum 2.0 mainnet launch

10 Nov 2020 1 minute read 0 comments MakeItReal

An update in the Ethereum Foundation Blog marks a date for Ethereum 2.0 genesis time, scheduled for December 1st.  However, the release of Eth 2.0 for the December 1st is subject to a fundamental condition: to trigger genesis there must be at least 1...

Ethereum 2.0: Why This Upgrade Matters

10 Nov 2020 5 minute read 6 comments NOWNodes

After much speculation over the past few years, Ethereum 2.0 is finally on the cusp of getting launched. The final release is expected to happen on the first day of December 2020. On 4th November, the Ethereum foundation made the first version o...

Nexo Adds Binance Coin (BNB) To Their Daily Interest Earning Program

10 Nov 2020 1 minute read 0 comments doesalexx

As part of Nexonomics, Nexo's master plan to power up the value of their in-house token, Binance's BNB, has become the next cryptocurrency to join the "Earn on Crypto" party over at Nexo's. Supporting for BNB on Earn has been teased for a long time,...

What Is NULS ChainFactory and Why You Must Try It?

10 Nov 2020 4 minute read 0 comments NULS

Back in 2017 and 2018 when the crypto craze was at its height, the blockchain technology was tested worldwide by major banks, fintechs, supply chain firms, and other entities that started to implement it for various use cases. It was a period of tria...

ETHwriter: Uniswap V2 - Preparing for UNI Instability & Profits

10 Nov 2020 4 minute read 6 comments Thomas Wolf

That time is finally coming for the official launch of Uniswap v2, and there are a number of factors around the currency that have investors such as myself on the tips of their toes - I am prepared for a few nights without much sleep to maximize my p...

Yield Farming in DeFi Everything You need to know

10 Nov 2020 8 minute read 0 comments Md Rajib

When somebody lends their cryptocurrencies / "tokens" to a borrow/lend protocol, they're stated to be "providing liquidity". In return, this particular person earns fee on the trades they facilitate. The fee is paid out in the identical tokens they'r...