In the increasingly digital world of finance, decentralized finance (DeFi) focuses on providing investors with the convenience of peer-to-peer transactions.
The DeFi platform uses smart contracts, which are digital contracts that exist on the blockchain, to create space for lending, borrowing, transactions, savings, and interest earning, free from the usual bureaucracy and details. To do.
The world of DeFi is growing day by day, but there are some projects we are looking forward to in 2022.
- Gnox (GNOX)
Gnox’s main goal is to bridge the gap between the world of cryptocurrencies and fiat currencies while demonstrating the benefits and ease of use of the protocol to everyday users.
This project is a decentralized ecosystem of DeFi products, protocols, and use cases that work across multiple chains. This is the first DeFi revenue protocol to offer “yield farming as a service” to both private and institutional investors.
Gnox is a reflection project that uses finance to invest in the holder’s DeFi yield earning protocol. Holders can see that the fair market value of tokens tends to rise naturally by using their finances to provide liquidity to well-known and secure pools.
- Aave (AAVE)
Formerly known as ETHLend, launched in 2017, Aave is one of the first DeFi platforms on the market. It is a decentralized platform for liquidity that allows people to borrow assets and receive deposit payments. A decentralized system connects lenders and borrowers, enabling a fair lending system. You can also earn user points and discounts by using AAVE currency on the Aave DeFi platform.
- Algorand (ALGO)
Algorand was launched in 2019 with the goal of making blockchain transactions more secure and scalable. This is a decentralized Byzantine agreement mechanism based on PureProof-of-Stake that runs on the blockchain. Create truly valuable services to build a borderless economy.
Based on its unique consensus algorithm, Algorand wants to close the gap for institutions looking to enter new markets by providing fast and secure payment solutions to organizations and businesses around the world.
- Ankr (ANKR)
The Ankr protocol brings the benefits of the sharing economy to the crypto space and has experienced outstanding performance over the past year.
This project is doing the same with cloud resources and computing power. Built on a blockchain architecture, it has a consensus mechanism and incentive structure to reliably support retail and corporate customers.
Their Proof of Useful Work (POUW) system guarantees the potential of distributed cloud computing by protecting networks and rewarding individuals to drive block propagation with Ankr tokens.
- 1 inch (1 inch)
1inch is a DEX aggregator. This means finding the best price on a large number of decentralized exchanges and rerouting transactions between customers to ensure you get the best price.
Sergej Kunz and Anton Bukov founded 1 inch during the 2019 ETH New York Hackathon. Since then, 1inch has received approximately $ 15 million in funding from companies such as Binance Labs, Galaxy Digital and Panthera Capital. As of June 2021, the 1-inch exchange was trading at about $ 250 million per day.
The future of DeFi
DeFi innovations are paving the way for financial equality by expanding access to important and previously inaccessible financial tools. DeFi closes the gap and makes the barriers to economic development of the few privileged people a thing of the past. The future of DeFi has arrived, and it’s for everyone.
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