DEFI OVERVIEW SOFTWARE

With DeFi, on the other hand, a person is not required to provide any of this information (or meet these KYC requirements) while setting up an account. So, in simple terms, DeFi essentially aims to eliminate the necessity for middlemen or other forms of intermediary or third-party interference in transactions.įor instance, when it comes to opening an account or taking out a bank loan, an individual must go through a long list of procedures (in centralized finance) such as submitting their original IDs, proof of address, Biometric IDs like fingerprints, and so on. Blockchain and other open technologies such as artificial intelligence (AI), machine learning, and smart contracts to name a few, can be used to create a decentralized system.

DEFI OVERVIEW SOFTWARE

When you communicate with a DeFi protocol, you’re just engaging with software and nothing more.

DeFi is inextricably linked to cryptocurrencies and blockchains. This financial system is based on a decentralized blockchain network. It enables trading, streamlines exchange operations, and pays interest on investments without the need for a physical office or human personnel. It is a system that enables individuals to invest, borrow money, move money overseas, and basically accomplish everything (related to digital money) without having to leave their homes.ĭeFi can be compared to a bank with many businesses but no physical locations. Anyone with a smartphone and internet access can use DeFi to put their money to work on their own terms through services like investment, borrowing, lending, and trading.ĭeFi, instead of using banks as middlemen, places smart contracts at the center of a peer-to-peer financial system based on open-source blockchains such as Ethereum. In some ways, therefore, access remains contemporary finance’s problem child.ĭecentralized finance, sometimes known as “ DeFi ,” is an open worldwide alternative to the limited, controlled and centuries-old traditional financial system that much of the world is familiar with today. 1.6 billion adults in the world remain unbanked, and even those who are banked have little input in how the financial system functions around them. For the past ten years, however, it has been close to nothing: the average interest rate in the United States is just 0.09%.īut for many others, it doesn’t matter because they’re already unable to fully participate in the financial system. They usually repeat this profit-generating process again and again, with you getting a piece of the action in the form of interest on your savings or fixed accounts. That’s an excellent example of banks putting their (and your) money to good use.

Although not captured in the screenshot below, the table also includes a “First Seen” column which lets you know how long the pool has been around for.Banks accept cash deposits, issue interest-bearing loans, and pay some of the income they earn to depositors. The table highlights important metrics such as APY, Impermanent Loss (IL), Volume, Liquidity, Pool token holders, Transactions and most importantly, Smart Money data (Holders, Ownership %, Txs (7D)). You are, however, able to sort via other metrics included in the table by clicking on the arrows beside each column header. Liquidity pools are sorted by number of Txs the last 7 days by default as we want to highlight the pools that are most actively used over the said time period. There are 2 tables that will be available during this release - Liquidity Pools and Staking. Similar to NFT Paradise, DeFi Paradise gives you a quick overview of what’s happening in the DeFi space and what Smart Money is doing.

Follow our socials to be informed of the release! We aim to have a wider release to our standard users and even lite users further down the line. Note: DeFi Paradise is currently only available to VIP and Alpha users.

Defi overview