Stellar Lumens are seldom in the spotlight within the crypto space. Despite groundbreaking partnerships and integrations, the XLM token is not spoken about as often as some flavor-of-the-month cryptocurrencies. However, the Stellar Development Foundation (SDF) has been around since 2014, which means they must be doing something right, right? The Stellar Foundation is creating an ecosystem that empowers people with financial services that have been absent in many parts of the world for a long time.
UMA stands for Universal Market Access, making it a fitting title for all decentralized finance (DeFi) since universal access is ultimately the goal. But more specifically, UMA is a decentralized protocol for deploying synthetic assets on Ethereum. As such, UMA’s existence will thus help create financial markets on Ethereum that are accessible to everyone in the world. It provides a framework for developers to create whatever kind of synthetic Ethereum token they desire. Like other DeFi projects we’ve covered, UMA uses smart contracts to replace third parties like banks and other intermediaries.
Binance is much more than just an exchange – instead, it represents an ecosystem that provides a vast array of services for cryptocurrency startups, investors, and traders. These platforms are powered by the Binance Coin, often referred to as the BNB token. Binance Coin has performed well over recent months and has a solid tokenomic structure to expand its utility and increase scarcity. But, how does Binance make use of the BNB token?
You might be forgiven for thinking that food-themed cryptocurrencies were just a ‘flash in the pan’, so to speak. To an extent, you may have even been correct. The yield farming frenzy during Summer 2020 produced several food-based yield farming protocols and tokens. PancakeSwap is a decentralized cryptocurrency exchange (DEX) built on Binance Smart Chain (BSC), powered by the BEP-20 Pancake token (CAKE). The CAKE token is one of several tokens used within the PancakeSwap protocol and made available for token swaps. Similar to Uniswap, PancakeSwap is an automated market maker (AMM) and decentralized application (dApp) that features liquidity pools where users can earn fees from staking, lending, and yield farming.
The Stacks blockchain is a custom-built, full-stack decentralized blockchain designed for the Blockstack computing network. Stacks makes Bitcoin programmable by facilitating support for decentralized applications (dApps) and smart contracts on the Bitcoin blockchain. The Stacks ecosystem harnesses the security of the Bitcoin network while bringing additional functionality to a blockchain that is notoriously challenging to build on.
Users of centralized trading platforms may take the many tools, visualizations, and data made available to make trading simple for granted. Decentralized exchanges (DEXs) have become a popular alternative to centralized exchanges (CEXs) due to the appeal of self custody, and the absence of intermediaries. However, what is somewhat absent in the DeFi space is a professional decentralized trading platform. UniLayer claims to be a “next-generation decentralized trading” platform built on top of popular DEX, Uniswap. With the use of the native ERC-20 LAYER token, UniLayer lets users take advantage of professional-level trading features and apply them in the world of DeFi, without the need for a third-party.
The SwissBorg Wealth App is one of the go-to crypto apps where users can buy, sell, and store Bitcoin and other cryptocurrencies. The platform has seen continuous growth throughout 2020 and doesn’t appear to be slowing down any time soon. However, SwissBorg is far more than just another centralized financial application. SwissBorg is an ecosystem of wealth management tools, and presents a unique bridge between centralized finance (CeFi) and decentralized finance (DeFi), with help from the native CHSB token and the SwissBorg Wealth App.
Fans of decentralized finance (DeFi) who are familiar with a particular children’s book series following the adventures of a young wizard may be pleased to hear that Alpha Homora is aiming to bring the magic back to DeFi. Launched by Alpha Finance Lab on Ethereum mainnet and powered by the ERC-20 ALPHA token, Alpha Homora is a leveraged liquidity and yield farming protocol. Coincidently, “Alohomora” is a spell in the Harry Potter universe for unlocking doors and windows. This begs the question, could Alpha Homora “siriusly” be unlocking the power of DeFi? Also, how many Harry Potter puns can we “Slytherin” to this article?
Reef Finance aims to make DeFi easy for everyone by providing a multi-chain on-ramp for yield optimization, protocol and liquidity aggregation, and proprietary analytics. Powered by Polkadot, Reef aggregates liquidity from both decentralized exchanges (DEXs) and centralized exchanges (CEXs) to provide reliable liquidity. Furthermore, Reef is lowering the perceived technical barrier into DeFi by serving a simple, all-in-one DeFi solution. Also, the REEF token plays a key role in the Reef Finance ecosystem, but what is Reef Finance?
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