Defi News
What is DeFi?
DeFi, or decentralized finance, is one of the biggest things in the blockchain and crypto industry right now. And it’s easy to see why: DeFi provides a variety of financial services that use blockchain technology to cut out middlemen and reduce costs.
How does DeFi work?
Decentralized finance is a new approach to the financial industry and banking. It uses blockchain technology, or what some people call cryptocurrency, and applications called dApps. In this system, transactions are recorded on a blockchain or a ledger of transactions. The secure ledger creates a record that cannot be altered or hacked by third parties and allows multiple users to verify the transactions through consensus.
The chain is a structure that links together the blocks of information it holds. Each block in the chain can hold a certain amount of data and contains an encrypted hash link to the previous block. The data contained in each block cannot be changed or altered, because once a block is completed it cannot be changed and the following blocks are all dependent on its information. This technology provides secure transactions through these permanent links and breaks down data to a manageable size by breaking it into pieces.
Pros of DeFi
The DeFi movement aims at introducing various benefits for customers and investors. Some of the notable advantages of DeFi would include the destruction of negotiators alongside centralized control. With these, one gains more transparency and control, whilst obtaining a decentralized network wherein all entities are granted access to financial services.
DeFi, which is also referred to as decentralized finance and dApp development, is the abstract of blockchain technology, a concept that has developed over time to address issues such as the lack of trust between users. DeFi would allow the creation of decentralized platforms that are designed to help in creating investment opportunities on a sustainable basis.
🔹Convenience
🔹 Security
🔹Autonomy
🔹 Profitability
Cons of Decentralized Finance
While the benefits of DeFi are many, it is important to get a neutral opinion about its cons and drawbacks as well. The majority of problems associated with today’s DeFi projects are generally linked to blockchain and other related technologies. Blockchain’s scalability issues have caused headwinds for the implementation of smart contracts in specific industries like supply chain management. On the other hand, blockchain’s security concerns have also dissuaded many investors from supporting DeFi startups
🔹Limited integration
🔹Poor user experience
🔹Lack of oversight
🔹Volatility and risk
The Future of DeFi
Decentralized finance is growing at a rapid pace with no signs of slowing down. But while the technology behind this innovation is truly fascinating, there are still many aspects lacking when it comes to a complete ecosystem. Current laws were crafted based on the idea of separate financial jurisdictions, each with its own set of laws and rules.
As demand for DeFi grows, concerns arise over who is responsible for investigating financial crimes that occur across borders. Who would enforce the regulations, and how would they enforce them? Other concerns include system stability, energy requirements, carbon footprint and hardware failures.
Skyrim Finance cemented a partnership with BSCLaunch.
BSClaunch has been an active player in this space, and it aims to become the next generation DeFi platform with an Ecosystem launcher,...
Reef Finance has developed a fast, scalable, and EVM-compatible chain for DeFi applications, Reef Chain. Reef Chain is currently in the canary version of the mainnet and the official mainnet...
Users can now deposit wBNB into this vault as a collateral asset to mint rUSD, which can be used as liquidity directly on PancakeSwap.
wBNB supply APY is 12.53% APY (at time of writing)....
Galaxy Coin Farm and Garden Olive Pool Are Now Live on Olive Cash Binance Smart Chain Network.
Users can now Stake OLIVE to earn GLXC and Stake GLXC-BNB LP to earn OLIVE. How do you stake...
Beefy Finance New Launch Pool Vault From BoneSwap
Users can now Stake the following LP to earn on Beefy Finance.
BONE-USDC LP
BONE-MATIC LP How to Stake on Beefy Finance?
Visit...
BSClaunch will help Skyrim Finance build the First Multichain Decentralized Structured Finance Marketplace and provide risk-adjusted returns to investors of various profiles through...
With KingDeFi and Wault Finance partnership, Users will be able to stake WEX for 100 000 USD in KRW rewards which will be distributed over 5 weeks.
https://app.wault.finance/bsc/#pool
A new...
These two giant leaders in the DeFi ecosystem will combine their collective resources, expertise, and their popularity in the ecosystem to offer one of the most transparent and beneficial...
Decentralized protocol built for the creation and investment of passive index strategies, Phuture thrilled to announced the launching of its testnet. On the 12th of July Phuture will...
IDEX released Weekly Update: Discord Updates, Partnerships, Testing & More.
General Discord Updates — Added new system for new users including new rules, removed server captcha, and...
Introducing SWFT Blockchain’s newest product AllChain Swap – Bringing simple, fast, and secure cross-chain exchange to your fingertips.
With the birth of new blockchains and network...
Idle released Weekly Beats, newsletter for regular dose of updates, new features & announcements from the team.
🔹Core Beats After $IDLE staking launch, token holders already...
Autofarm Network Launched 7 New Vaults From PancakeSwap
Users can now Stake the following 7 new auto-compounding LP vaults to earn on Autofarm platform.
USDT-CAKE LP
WBNB-WOO LP
WBNB-JGN...
PolkaCover partners with Nsure Network, so unique variety of insurance products will be available on PolkaCover marketplace.
Nsure Network is a crypto-insurance platform for Open...
Decentralized Identity Aggregator, Litentry announced partnership with MatChain, the Layer 2 blockchain based on Substrate. Through this alliance the two parties will jointly explore more...
DEGO introduced Monthly Report of June 2021 for the details of partnerships, events and other news.
1. New INO with Onion Mixer
In June, DEGO has successfully launched an INO (Initial NFC...
Moma Protocol is a solution that meets the liquidity, scalability, incentive diversification, and speculative needs of the lending markets. Moma Protocol can create and manage lending...
Cake Monster is a hyper-deflationary and elastic supply token that has unique reserve and reward mechanisms featuring an automated hybrid monetary policy. Its goal is to provide the highest...