DEFI PROJECTS STILL WORTH CHECKING OUT

Being so young in the blockchain and crypto space, I have realized that a lot is there to learn. With lots of developments flying around in this space, it's easy to become outdated if you fail to measure up and adjust to current trends. That was what led me to Defi.

What is Defi?
In a simple term, it is decentralized finance.

The fuzz surroundings Defi infusion with crypto was so loud that I thought to my self that I should be part of it. But before I invested myself into Defi, I did my research on what makes it a big deal for the blockchain network at large.

All this research happened sometime around the lockdown period as I was placed on indefinite leave by my company, Opera (still serving the indefinite leave). so I had the time to read deep into it. From the research, I discovered some key importance of Defi to the crypto world and some are;

1. Providing a wider usage of the crypto
2. Having more control of your tokens
3. Removal of center authority/centralization of power.

In clearer terms, Defi gives us more power/control and more options on how/what to do with our cryptos. You can decide to trade, invest or even stake them to get interested. The choices are yours to make.

On getting to know this, I started doing extensive research on the Defi project to fully focus my attention and time to get.

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Then I stumble onto Teccoin on a Uptrennd post months later. It was a project that was currently still under construction but it came with lots of potentials. Teccoin is a digital currency with the sole aim of making holder manage their funds properly.

As of the time of reading, I was intrigued by the airdrop and I quickly ran down to the Telegram link to claim a few tokens for myself. I did my bit and earn a few Teccoin which was symbolized as TECN. the price of a project which was still in its final phases was more motivation to acquire some free. I was glad I partook in the campaign just by doing some social tasks. The presale is still going on and in no time, they will be on exchanges. The TECN runs on an Erc 20 wallet

Another Defi project I got involved with was BESTSWAP and it was the first Asia Defi Dex. this Defi project aims to allow the free listing of tradable tokens on their platform and giving access to everyone globally while also providing a way for their users to get passive income. I got some over 10,000 of the BETC tokens in my Trust wallet through their airdrop which ends in a few days.

What I love about the BESTSWAP, in particular, is the freedom it gives small unknown tokens to trade their token on the platform as a listing is free on there, thereby creating a market for such tokens. It works on both the Erc 20 and TRx 20 network. That even makes it more unique.

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Even though I was able to involve myself with some defi project, I still missed out on some like Yam and Yi. Truth be told, I have no regret missing out on the Yam Defi project as it didn't take long for the price to crash just a few hours after its launch as major investors withdraw their funds immediately after it was launched. The Yam token crashed hard and one would have thought that it will be the end of but the project continues to hang on with many investors gashing their teeth.

But one investment that will leave a sour taste on my lips remains missing out on YFI. yearn.finance is a Decentralized Finance (Defi) platform that aims to build products on aggregated liquidity provision, leveraged trading, automated marketing making, and more.

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The YFI was launched with a market cap price of 1000 USD and within a space of a month, the growth has been tremendous and currently the most expensive token on the crypto blockchain.

So far so good with YFI out of reach, one token that remains a possibility for me to invest in and be part of remains DIA.
Decentralized Information Asset (DIA) is an open-source blockchain project which aims to attain transparent open-access data and oracles. Defi ecosystem, a decentralized community of DIA token holders and their delegates is in control, with DIA’s Governance Token acting as an incentive to key market actors. DIA is a Swiss not-for-profit and remains one defi project with the most use cases

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This post was written in September, so some figures might be out of date. The importance of this post is to enlighten us on Defi.

Posted Using LeoFinance ^Beta