The top three projects in the world of decentralized finance, DeFi
Decentralized Finance (DeFi) has taken the economic world by storm.
Owners of cryptocurrencies can get closer to an alternative financial system that offers better rewards than traditional bank accounts with some additional risk.
Several new trends have emerged in the DeFi space recently that try to capitalize on the momentum around this emerging space.
Current DeFi Financing Trends:
The first major trend in decentralized finance is the “Yield Farming” mechanism.
As this mechanism is provided for those who wish to lock their property and cryptocurrencies into decentralized protocols and earn interest in return.
Often users are rewarded either with trading fees or in a currency belonging to the original protocol of the project with that currency carrying a monetary value.
The second trend is the emergence of decentralized finance across various blockchain networks.
Different ecosystems try to bypass a single blockchain approach and leverage liquidity and communities across different blockchain networks.
Interoperability between blockchain networks is impossible for most general protocols, but solutions are under development to remove this obstacle from the equation.
Last but not least, there is an increasing demand for decentralized administration services.
Getting involved in the world of digital assets is exciting but also comes with some responsibilities.
Finding decentralized asset management solutions can help both new entrants and experienced users to handle these new responsibilities with ease.
With so much money locked up in DeFi projects today, it is time to develop technology and infrastructure used for decentralization purposes.
The top three projects in the world of decentralized finance, DeFi
Prophecy Project:
Prophecy is a startup providing "Yield Farming" solutions to fans of decentralized finance, DeFi.
As a value transfer network with an economic policy, the protocol prides itself on delivering innovation oriented monetary policy, through its quick earning model, where users can get profits immediately upon completion of "Yield Farming".
There is also the "Prophecy" pool model, which ensures that the majority of participants reap the rewards.
Collector operators can share cryptocurrencies, define pool parameters, and set fees.
All participants secure the centers by paying entrance fees, and the gatherings continue until the subscriber limit is reached.
Through the randomization engine, winners are announced, with rewards available to claim immediately.
An additional feature offered by the "Prophecy" project is the "staking" unit, which, according to the white paper, offers a different method from the traditional model.
Instead of empowering the major owners of the currency, the Prophecy project system ensures that most of the people connecting the cryptocurrencies to the project will have good returns.
Besides the immediate return and access to rewards, there are many benefits to this new model.
Orion Protocol project:
In terms of achieving interoperability and reducing barriers, the Orion project raises the bar and offers practical solutions.
Instead of directly connecting liquidity across different blockchain networks, Orion technology aggregates the entire cryptocurrency market's liquidity into one decentralized platform.
This service covers all central and decentralized exchanges, providing unprecedented access to the trading markets.
Unlike other services, the Orion Protocol project is decentralized, does not require verification of KYC information (except for intermediaries), and provides liquidity without compromising decentralization.
Cook Finance Project:
For the decentralized management of digital assets, there is the “Cook Finance” project which works to provide a decentralized management platform via blockchain designed for professional investors and asset managers.
The “Cook Finance” project provides a powerful solution.
The focus of the project is on intuitive management and professional service, allowing investors to prepare their investment strategy in an automated way.
Everything is handled through smart contracts and an independent, decentralized organization to maintain a high degree of transparency, security and efficiency.
in conclusion:
As the decentralized finance industry continues to attract billions in cash every month, this momentum appears to be unstoppable.
Slowly but surely, the decentralized finance industry is advancing, providing the next generation of DeFi protocols, products and services.
The three examples mentioned above provide valuable insights into how this industry will continue to develop in the coming years.
Providing convenience and ease of use without reducing the decentralization to empower users remains the number one priority in the DeFi space.
Additionally, the demand for interoperability across blockchain networks is increasing.
Projects that meet all of these needs will quickly gain a competitive advantage and be able to take a foothold in the future of decentralized finance.