#Sponsored: New DeFi Token GLO will be available for pre-sale
Over the last decade, a new wave of financial technology has swept the world and created innovative companies. Nowadays, a similar revolution is happening in the world of cryptocurrencies, which is called DeFi. It is a collective term for a growing ecosystem of financial protocols and applications built on the Ethereum blockchain. From platform lending and borrowing to stablecoin and tokenized BTC, DeFi space is constantly expanding with new projects.
Why are DeFi projects such as Uniqlo (GLO), Pancake Swap (CAKE) and Phantom (FTM) using the world of cryptocurrencies? First of all, DeFi is available to anyone with an internet connection. Unlike traditional financial systems controlled by central authorities such as banks and governments, DeFi is fully decentralized. This means that anyone can use the DeFi application without going through a third party.
Second, DeFi is built on blockchain technology and has several advantages over traditional finance. First, the blockchain is immutable. That is, once something is recorded on the blockchain, it cannot be changed or deleted. This provides a high degree of security and reliability for your DeFi application. In some way, all three DeFi projects rely on Ethereum, the world’s most widely used smart contract platform, to help them achieve their goals.
UNIQLO (GLO)
A community-based social currency called UNIQLO (GLO) is worth the initiative and portfolio of some eye-catching services. UNIQLO is developing ways to protect users from inflation and volatility, backed by digital money, digitized physical assets and valuable NFTs.
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GLO revives this idea in its vault by purchasing a variety of digital assets so that investors can profit from long-term price increases. In addition, GLO uses an ultra-burn mechanism designed to continuously reduce GLO circulation and support minimum rates.
PancakeSwap (CAKE)
Pancake Swap is currently the most popular decentralized platform, as $ 3.5 billion of assets are bet or locked on the network. Users can exchange cryptocurrencies and bet tokens on this automated market making platform in exchange for fees.
The user pays the liquidity pool to do this and instead is given a unique token called a liquidity token. CAKE, PancakeSwap’s native token, is earned using liquid deposits created using liquidity tokens. Cake owners can then use the cake tokens to win lottery tickets and earn additional tokens.
CAKE is a widely adopted cryptocurrency, trading at $ 3.42 as of July 2022.
Phantom (FTM)
Ethereum is the first cryptocurrency to offer smart contracts. But since then, it has been plagued by congestion and high transaction costs. As a result, several alternatives have been created that provide cheaper and faster transaction processing.
The goal of the Fantom network is to build a self-sufficient ecosystem that can execute transactions at little or no cost. Their blockchain algorithm does this via a directed acyclic graph (DAG).
Details of UNIQLO
Participate in presale: https: //presale.uniglo.io/register
Website: https: //uniglo.io
Telegram: https: //t.me/GloFoundation
Discord: https: //discord.gg/a38KRnjQvW
twitter: https://twitter.com/GloFoundation1
