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.


Ethereum 2.0 should be launched on December 1, 2020

26 Nov 2020 1 minute read 0 comments Gamma

Ethereum 2.0   The first version of Ethereum 2.0 should be launched on December 1, 2020, on the sole condition that 16384 validators have joined the network 7 days before this date. Each validator will have to invest 32 ETH, which currently represent...

Blockchain Financial Tips 2: $aving

26 Nov 2020 1 minute read 0 comments E. K. Washington™

Starting A Savings Account Getting into or back into the habit... We're lucky, we live in the modern day and what this means.. We have expanded options when it comes to savings. Don't believe me... Check out the information I've gathered below! Bitco...

Bitcoin scams

26 Nov 2020 1 minute read 1 comment nzflyer

                                   Bitcoin scams   The rise of Bitcoin and other cryptos open a new door to the new world investments with short, medium and long term results thus giving many people to buy and sell crpto to make money, On the other s...

I have finally added a reasonable amount on wleo/eth pool!

26 Nov 2020 1 minute read 1 comment cryptomaniacsgr

I have finally did it, after 3 days with very high transaction fees (some times even 130 gwei) I've managed to add liquidity in the pool. I can say that i stand lucky, because after awhile trxs fees rised again to 50-60 gwei and right now are at 116...

Whoracle

26 Nov 2020 1 minute read 0 comments Cr8nn

Last 24 hours more than 100mln$ were liquidated in Compound credit platform, and it's dedicated to an oracle exploitation, that raised DAI price on Coinbase Pro. This led to liquidations, because credit price became higher than security ratio.Seems t...

Yearn Finance and Cream Finance Partnership

26 Nov 2020 1 minute read 0 comments bingoce

The developers behind Yearn and Cream have collaborated to launch Cream v2. Cream v2 will focus on lending and leverage products. The merger will be the bedrock for future collaborations between the two teams. There are already plans to integrate the...

KNIT Finance: Unlocking the Full Potential of DeFi

26 Nov 2020 2 minute read 0 comments KnitFinance

Anything decentralized should be available to anyone and everyone. But DeFi today is predominantly dependent on ERC-20 tokens. ERC-20 standard has proven to be the go-to for decentralized lending, borrowing, and yield farming, etc. However, this lea...

Equilibrium Has Successfully Completed All The Milestones For Its W3F Grant

26 Nov 2020 1 minute read 0 comments Equilibrium

Equilibrium received a grant from Web3 Foundation to pioneer handy developer tools that facilitate other DeFi projects’ migration to the Polkadot ecosystem. Specifically, a financial pallet that introduces a lot of ready-to-go functionality for D...

Coinbase CEO Spreads Useless FUD; Causes Massive Crypto Dump Before ATH

26 Nov 2020 2 minute read 12 comments AlucardLife

So if you want to know the reason for the dump, it's because of Coinbase CEO Brian Armstrong spreading the news that the Trump administration will try to regulate non-custodial wallets. Yeah, good luck with that, bitches. The reason Armstrong is so f...

Getting into DeFi

26 Nov 2020 2 minute read 2 comments pilscoop

After some consideration I decided to see what all the fuzz was about with DeFi.  There are a lot of confusing terms like yield farming, liquidity mining, impermanent loss, APY, staking and so on that present a first barrier to entry. The learning cu...