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.
QiDao has partnered with UniLend to accept miMatic into UniLend’s lending services.
Users can now Start Lending & Flash Loans $miMatic on UniLend Finance. How to Lend miMatic on...
DCTDAO is a decentralized governance system that provides cross-chain interoperability to different blockchains, including Polkadot and others, with advanced quantum resistant security...
Lazy Mint Finance Launched New Farm For Go Cerberus Users can now Stake $LAZY-CERBERUS LP to earn $LAZY tokens on Lazy Mint platform. How do you stake LAZY-CERBERUS LP to earn...
KuCoin, an IDG-backed crypto exchange, has joined the Polkastarter Council to further hone the selection process and quality of IDO participants.
The Polkastarter Council is an independent...
Barbecue Swap joins ApeSwap BUIDL Program.
BarbecueSwap will get full support from ApeSwap and it’s decentralized exchange (DEX) in order $BBQ and $BANANA share the Hot DeFi...
First Crypto Workstation, manage crypto assets with a focus on the DeFi space, InvestDEX will be having an intial dex offering this coming 14th June 2021. The event will be hosted by Tosdis...
Hugo is a Defi Token on the Binance Smart Chain which will be used on a Decentralized Platform where holder’s votes matter to shape the future of the platform. Hugo is a super deflationary...
Altura will integrate Chainlink VRF (Verifiable Random Function) to achieve complete transparency and unbiasedness in determining the contents of on-chain loot boxes. Chainlink VRF will...
MXC Exchange added Deeper Network $DPR to their 63rd session of MX DeFi
Stake $MX, $TRX or $USDT to yield farm $DPR
— MX: no hard cap; a total of 120,000 DPR liquidity yield (60% of...
As a part of dHEDGE V2 launch campaign, dHEDGE DAO with SushiSwap and Polygon have launched liquidity mining with TRIPLE rewards available.
Lets jump straight to the details:
Two new pools...
Unbound Finance a DeFi treasury for liquidity pool tokens and enables unlocking from existing AMM pools have secured $5.8 million from its private funding round led by Pantera Capital and...
PolkaCover introduced article to learn more about NFTs, attacks and threats on NFTs & PolkaCover’s role in securing NFTs.
NFTs, also known as Non-Fungible Tokens, are becoming...
ODDZ Finance Syrup Pool & Farm Are Now Live on PancakeSwap
Users can now Stake CAKE to earn ODDZ and Stake ODDZ-BNB LP to earn CAKE.
How do you stake CAKE to earn oddz rewards?
Visit...
RAMP & Polygon introduced step-by-step guide for users migrating staked RAMP from v2 Ethereum vault to v2 Polygon vault.
Be sure to have some $MATIC in your wallet. You will need them...
BabyShark Mining farm & pool open on BabySwap
Users can Stake $BABY tokens to earn $SHARK tokens!
Total Tokens: 1,312,540,000,177 SHARK
Distribution duration: 15 days
Start at block...
Trucpal announced a strategic partnership with Solv Protocol to create in-person and digital opportunities for both organizations and communities to increase R&D and sustanability. The...
Quick Swap DEX $GFI-QUICK LP Gravity Finance Liquidity Mining is Now Live! Users can Stake $GFI-QUICK LP to earn $QUICK rewards. How to Stake on Quick Swap DEX?
Visit...
Phoenix Global resumes the liquidity mining campaign for another 3 months with a total reward pool of ~US$15,000 in PHB tokens.
Below are some of the key metrics of the past campaign period...