In the blockchain realm, 2021 has been a year of great innovation, with the development and introduction of a plethora of unique platforms and protocols that have contributed to transform the industry in novel and unexpected ways.
The decentralized finance (DeFi) sector of the business has perhaps witnessed the most advancement during this time, with the launch of a dazzling array of new platforms that enable users do more with their money while avoiding the need to rely on centralized financial infrastructure.
Here, we look at three emerging platforms that are leading the push in unlocking the full potential of cryptocurrencies.
Farming for yield. It’s all the rage in 2021, and it’s one of the most popular use cases for several cryptocurrencies now. Indeed, there are already billions of dollars in digital assets locked up in yield farm platforms, many of which provide a good return to investors.
However, while many yield farms are difficult to connect with and only offer relatively obscure digital assets or liquidity provider (LP) tokens, YeFi has lately arrived to disrupt the game.
YeFi is a platform that allows users to earn a passive income from their digital assets by staking them on its decentralized application (DApp). ETH, BNB, BTC, and USDT are among the assets currently supported by the platform. However, users can increase their profits by 1.5x by staking decentralized file storage currency such as FIL, or by up to 2x by staking YeFi’s native asset – YEFI.
YeFi eliminates the risk of temporary losses by allowing users to stake local assets rather than LP tokens, resulting in a consistent source of return.
The platform is unique among yield farms in that it is cross-chain compatible with both YottaChain and Binance Smart Chain, with future plans to support additional chains. In addition, YeFi plans to launch a number of DeFi products in the future months, including a decentralized lending/borrowing platform and a comprehensive decentralized exchange.
YeFi, when completed, might be one of the first blockchain-agnostic DeFi ecosystems.
You’ve certainly heard that major cryptocurrency networks like Ethereum and Bitcoin use a lot of electricity. The combined mining activity of these two networks is equivalent to a small country’s entire energy usage.
Despite this, the potential for blockchain technology to disrupt dozens of businesses and transform the way we live our lives is a compelling argument to keep experimenting with it.
If only there was a method to mitigate the negative effects of digital assets while maintaining all of their benefits.
Well, there is now. Popcorn is a yield generation protocol that allows customers to put their idle monies to work through a variety of automated yield-bearing mechanisms. More than that, it is a force for social good. A portion of the platform’s fees are used to support groups trying to improve the world we live in, whether through renewable energy research, forest conservation efforts, or public awareness campaigns.
Using a number of well constructed investment algorithms, Popcorn will automatically move user funds to the most profitable investing and trading possibilities while using the site. Meanwhile, the platform reduces its carbon footprint by collaborating with carbon sequestration and offsetting companies.
Earn money while assisting in the saving of the world? We’re all in.
Decentralized trading platforms such as Uniswap and PancakeSwap have grown in popularity in the recent year by offering CEX-like speeds and features and breaking down accessibility obstacles.
However, until recently, such derivatives trading platforms did not achieve the same level of accessibility and appeal. That is, until Premia arrived.
Premia is a decentralized options minting and trading technology that arguably outperforms even the most prominent centralized options exchanges. The main feature of the site is an easy-to-use decentralized trading platform that allows users to trade options for a range of digital assets, including Chainlink (LINK), Wrapped ETH (WETH), and Wrapped Bitcoin (WBTC).
But where Premia really shines is in its options underwriting tool, which allows users to underwrite a variety of options in order to receive a return on their investment. This is a completely permissionless procedure that allows anyone, from anywhere, to produce a passive income without regard for geographical limits.
Premia stands out as an exceptionally capable platform for both novice and experienced traders, allowing users to speculate on various DeFi assets, hedge their risks, generate a yield on their assets, and safeguard against market volatility.