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.


Cryptowriter: DEGO Finance Part 1 an Overview

10 Nov 2020 4 minute read 10 comments MaddCryptoDogg

DEGO Finance: An Overview DEGO finance is quite unique in that the project started on the Ethereum blockchain and within 4 months of the initial launch, DEGO is recognized as one of three yield farming projects on Binance Smart Chain. The DEGO team h...

Bankroll On TRON Network - BNKR - BNKRX

10 Nov 2020 2 minute read 0 comments doyouminecrypto

Hello! Here is a great DeFi farming project that is becoming more and more solid over time.   Bankroll.network     This is the TRON version. These guys have been around for over a year and have been paving the way for DeFi farming on the TRON networ...

DeFi Protocol Yearn.Finance Launches New Vault Aimed At Improving Liquidity

10 Nov 2020 1 minute read 2 comments CryptoBrowser

The New “Backscratcher” Vault Locks CRV Tokens For Four Years Despite the DeFi sector hitting another all-time high in terms of total value locked (TVL), not all projects receive equal attention and inflow of collateral.  According to data from DeFi...

Pool Together the "better than no lose crypto lottery" paying 4%APR

10 Nov 2020 2 minute read 0 comments AnOrdinaryTechLife

In my first crypto related post here I am sharing something that seems quite special. Pool Together is a crypto project that originally sold itself as a 'No lose lottery'. The premise is that large numbers of people put funds into a pot, this large p...

Pantera Capital and Alameda Research Make Investments in Balancer

10 Nov 2020 1 minute read 0 comments Abhimanyu Krishnan

Pantera Capital and Alameda Research have invested in Automated Market Maker (AMM) Balancer Labs through direct token purchases, the team announced in a blog post published on Nov. 10. Pantera Capital and Alameda Research have bought BAL tokens from...

REPORT: A Whale Just Moved $14m Worth of Yearn.finance (YFI) to an Exchange | NewsBTC

10 Nov 2020 1 minute read 1 comment Googler

Cole Petersen, an author on NewsBTC published an interesting article a few moments ago where he said that *Yearn.finance’s YFI token is surprisingly resilient today despite the turbulence throughout the aggregated crypto market. While Bitcoin is plun...

How to be a DeFiFarmer at Harvest Finance

10 Nov 2020 1 minute read 1 comment Gabor

"Dad, how can you make money with crypto?" - asked me my bigger one. "Well, you can stake, you can farm, you can trade among many other things." - I answered not too confidently.  "What do you mean by farming Dad?" - came the next question.  Let me s...

Keep3r Stealing YFI Thunder?

10 Nov 2020 3 minute read 1 comment AlucardLife

Yearn.finance (YFI) set off the current wave of defi with a unique attribute of automated yield farming. YFI was the first coin to achieve mainstream attention for being worth more per coin than bitcoin (there were others, but they didn't have the im...

Loki project becomes Oxen

10 Nov 2020 1 minute read 0 comments Quaro

Loki project Loki was born in 2017 as a Monero fork by the Australia-based Loki Foundation, but soon expanded to a full suite of privacy tools: a privacy-oriented Proof-of-Service cryptocurrency (Loki), a private messaging app (Session), an encrypted...

Top Things You Should Know About Ocean Protocol (OCEAN)

10 Nov 2020 7 minute read 7 comments MuyAsk

Hey guys :) I’m back with another comprehensive Q&A piece, this time for the decentralized data exchange protocol – Ocean Protocol (OCEAN). Ocean Protocol aims to unlock user data, so it can be used productively rather than simply stored by huge corp...