A few decades ago, the traditional finance field looked more or less like it had always done. However, innovations in technology, payment processors, and applications have now made it possible for centralized finance (CeFi) and decentralized finance (DeFi) solutions to offer the same services historically offered within traditional finance.
ParaSwap is an innovative and competitive decentralized exchange (DEX) aggregator. Using a combination of features, ParaSwap aims to streamline the user experience with decentralized finance (DeFi) protocols, branding itself as a solution for DeFi liquidity. ParaSwap aggregates price and data feeds for many major decentralized exchanges to discover and offer the best price for users. This is in addition to routing through the ParaSwapPool, offering even better exchange rates. Moreover, ParaSwap acts as a middle layer between DeFi liquidity protocols and users. ParaSwap aims to facilitate the fastest and fairest trades of Ethereum-based tokens (ERC-20).
Modefi is a decentralized oracle aggregator that provides a range of trustless, interoperable oracle solutions. Furthermore, with the use of the Modefi token, or MOD token, Modefi is creating an all-in-one platform for DeFi users and those in need of customizable oracle services. Thanks to the Modefi Oracle Marketplace, users can create bespoke oracle services to suit their needs. Also, the oracle aggregator allows users to choose the best deal to suit their budget and goals. Moreover, after the introduction of Modefi staking, big things lie ahead for the project. But, what is Modefi? And, what is an oracle aggregator?
If you’ve ever come across Acala, you probably know it by the company’s tagline “The DeFi Hub of Polkadot”. Powered by the Acala token (ACA), the Acala network provides a range of cross-chain decentralized finance (DeFi) services through the Acala Mandala application. Also, Acala’s sister network ‘Karura’ and the native Karura token serves as an open-source and permissionless suite of decentralized finance applications (dApps) on the Kusama blockchain.
ConsenSys has played a pivotal role in the development of blockchain technology. Founder, Joseph Lubin has extensive experience of blockchain development and was crucial to the evolution of decentralized finance (DeFi). ConsenSys has founded many successful applications, including the popular MetaMask extension. Also, ConsenSys offers auditing with ConsenSys Diligence and development services for enterprises through ConsenSys Codefi. The company is incredibly influential in the blockchain industry. As such, it has developed a strong reputation for developing innovative tools and applications for enterprise from design to deployment.
Rebranded from “Matic Network” in February 2021, Polygon is a layer-2 network designed to bring mass scalability to Ethereum and interoperability between other blockchains. Retaining the MATIC cryptocurrency ticker, Polygon is evolving into a platform to help developers bring products to market quickly. This is achieved using customizable, modular blockchain network tools and services that harness the power of the Ethereum network, without the drawbacks associated with high transaction fees and network congestion. As such, layer-2 solutions are drawing a lot of attention as the crypto industry looks to expand and interoperate.
There are hundreds of new decentralized finance (DeFi) applications popping up, with new utility tokens, crypto launchpads, and non-fungible tokens (NFTs) among some of the most popular trends in 2021 so far. Nord Finance is focusing on creating additional utility and profitability to stablecoins, a seemingly less exciting form of digital assets compared to their more volatile cryptocurrency counterparts. Nevertheless, stablecoins play a vital role in the cryptocurrency infrastructure and are often a key part of any crypto investment portfolio. The Nord Finance ecosystem and its native NORD token are allowing users to stake, farm, and earn high interest on a range of stablecoins. Moreover, this is achieved by minimizing risk whilst maximizing rewards.
The decentralized finance (DeFi) sector is arguably hotter than ever, and has grown at a tremendous rate in the past year. In fact, the DeFi industry has grown from around $1 billion in Total Value Locked (TVL) in March of 2020, to around $38 billion as of today, according to DeFi Pulse. This highlights how the DeFi industry is one of the hottest trends in crypto and how money is pouring into the sector. Not only has the amount of money locked in DeFi projects increased, so has also the number of decentralized applications and solutions. However, the sheer number of various alternatives creates problems for users, as functionality becomes spread out across many different platforms. To make the users’ lives easier, we have been provided with a solution in the form of Instadapp.
As transaction fees on the Ethereum Network push new highs, the competition between smart contract-enabled blockchains is heating up. Ethereum has long been the go-to platform for decentralized applications (dApps). The network effect of Ethereum and Ethereum-based dApps has been a catalyst in creating an environment where developers can program money in innovative new ways. Without the success of Ethereum over the years, the demand for smart contract-enabled blockchains would likely be substantially lower. However, several new projects, including those established by founding members of the Ethereum team, have created compelling alternatives to the number one decentralized finance (DeFi) blockchain. Blockchain-based smart contract platforms are becoming fiercely competitive in their adoption and utility. But, what are the differences between these blockchains and smart contract development platforms?
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Learn everything that defines a decentralized financial system here at Moralis Academy DeFi blog. Our experts have extensive experience in the field and share informative content on a daily basis. Add your email in the subscription bar and get the latest posts directly to your email. Read about the new upcoming tokens, CeFi vs DeFi, Ethereum DeFi bonds, and various deep dive DeFi-guides that provide in-depth knowledge of the system. Find content you are looking for in just a few seconds with our advanced filter options – go from DeFi to blockchain gaming with just a click, or search for a specific query in the search bar. Every article is easily sharable so others in your community can find out about the latest DeFi news and topics discussed in the blockchain space exactly when you do.
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