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.
Roseon Finance $ROSN has been listed on Kucoin Exchange
– Deposits Effective Immediately (Supported Network: BEP-20)
– Trading: 09:00 on June 8, 2021 (UTC)
– Withdrawal:...
PancakeSwap has listed Mobox to Their Syrup Pool & Farm
Users can now Stake $CAKE to earn $MBOX and Stake MBOX-BNB LP to earn CAKE.
How do you stake CAKE to earn MBOX rewards?
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Beam introduced Recap of Week #23, covering May 31st – June 6th 2021.
The Beam Hardfork is rapidly approaching, and with it some huge possibilities for your private finances! DeFi...
Reef introduced Monthly Update for May 2021 about booming social community, new partnerships, & new projects on Reef Chain, and participating in the community.
May 2021 Quick...
Unifi Protocol announced UNFI token holders will get exclusive access to UNFI Super Pairs. UNFI Super Pairs farm UP liquidity provider rewards from the volume of the Super Pair, and a bonus...
Solend is an algorithmic, decentralized protocol for lending and borrowing on Solana.
With Solend, anyone with an internet connection can earn interest or take a collateralized loan against...
Nimbus is a DAO-governed ecosystem of dApps that offers 16 revenue streams for users based on IPO participation, P2P lending, crypto-trading, and more. All users need to do is pick the...
Skyrim Finance is the first multichain decentralized structured finance protocol for fixed-rate and leveraged-yield DeFi products. $SKYRIM tokens will be the incentive for the real users and...
Multi-chain DeFi synthetic investment hub built on Solana, Polkadot, and Binance Smart Chain, Plutos Network announced that they will be integrated with Chainlink Price Feed Oracle to Secure...
Beam introduced Fierce Fermion 6.0 release for iOS and Android.
Improvements: Send and Receive screens became simple to use, thanks to every community member who pushed to rework the...
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Olive Cash Has Launched New Olive Garden Pool And Farm For Moon Rabbit On Binance Smart Chain
Users can now Stake OLIVE to earn MOONRABBIT and Stake MOONRABBIT-BNB LP to earn OLIVE.
How to...
Binance Liquid Swap Adds Marlin Protocol $POND/BUSD Liquidity Pool!
Users can add liquidity to the $POND/BUSD liquidity pool
Users will get a share of 1,100,000 $POND in yield-farming...
Automata Network Farm & Syrup Pool Are Now LIVE On PancakeSwap
Users can now stake $CAKE to earn $ATA and Stake $ATA-BNB LP to earn $CAKE.
How do you stake CAKE to earn ATA...
Bancor introduced summary of community call with ecosystem and development updates.
🔹Governance Update (0:50) This was an interesting week due to the massive mobilization from the Bancor...
Monolith is looking for a Head of Design who can lead product to a visually stunning gamified experience of money.
Working with the founders, Head of Product and creative team, your aim is...
Nabox will start a Crowdpooling campaign on DODO BSC on 17th June, at 20:00 UTC+8 (Singapore Time).
The proceeds will be used to create a liquidity pool for NABOX after the Crowdpooling and...
WePiggy’s core development team will launch an enhanced security solution designed to deal with various extreme scenarios-[Ark Operation].
At present, the entire solution covers three...