In the past decade, a new wave of financial technology has swept the globe, giving rise to innovative companies. Now, a similar revolution is happening in the world of cryptocurrency, and it’s called DeFi. It’s a catch-all term for the growing ecosystem of financial protocols and applications built on the Ethereum blockchain. From lending and borrowing platforms to stablecoins and tokenized BTC, the DeFi space constantly expands with new projects.
Why are DeFi projects like Uniglo (GLO), PancakeSwap (CAKE), and Fantom (FTM) taking the crypto world? First, DeFi is open to anyone with an internet connection. Unlike the traditional financial system, which is controlled by central authorities like banks and governments, DeFi is entirely decentralized. This means anyone can use DeFi applications without going through a third party.
Second, DeFi is built on blockchain technology, which offers several advantages over traditional finance. For one, the blockchain is immutable, meaning that once something is recorded on the blockchain, it can never be changed or deleted. This gives DeFi applications a high degree of security and trustlessness. In one way or another, all three of those DeFi projects rely on Ethereum, the world’s most widely used smart contract platform, to help them accomplish their objectives.
Uniglo (GLO)
A community-based social currency called Uniglo (GLO) initiatives several eye-catching services making it worth placing it in your portfolio. Supported by digital money, digitized physical assets, and valuable NFTs, Uniglo develops a method to protect you against inflation and volatility.
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GLO revives this idea with its vault by buying various digital assets so that investors may profit from long-term price growth. Furthermore, GLO uses an ultra burn mechanic designed to continuously reduce the GLO circulation and support the floor price.
PancakeSwap (CAKE)
With $3.5 billion in assets staked or locked on the network, PancakeSwap is now the most popular decentralized platform. Users may swap cryptocurrencies and stake their tokens on this automated market-making platform in exchange for a fee.
Users pay money into a liquidity pool to do this, and in exchange, they are given unique tokens known as liquidity tokens. The native token on PancakeSwap, CAKE, is earned by using liquidity deposits made using liquidity tokens, among other uses. After that, cake owners may spend their cake tokens to play lotteries or earn additional tokens.
CAKE is a widely adopted crypto and is traded at $3.42 as of July 2022.
Fantom (FTM)
Ethereum is the first cryptocurrency to provide smart contracts. But since then, it has been plagued by congestion and expensive transaction costs. Consequently, several substitutes have been created that offer cheaper and quicker transaction processing.
The goal of the Fantom network is to build a self-sufficient ecosystem capable of carrying out transactions for little or no cost. Their blockchain algorithm does this via a Directed Acyclic Graph (DAG).
Learn More About Uniglo
Join 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
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