![]() ![]() ![]() The profit generated from the business is distributed to the investors.ĭefi Money Market promises an annual yield of 6.25 percent for its investors. In short, investors can lock their funds (ETH, DAI, USDC) in the protocol, and the platform lends those funds to other entities, using real-world assets as collateral. So far, it has managed to attract around $3 million in mTokens circulating in its service.ĭeFi Money Market aims to build a decentralized protocol that allows users to earn interest on their money that is loaned out for loans collateralized with real-world assets. It’s a lending platform, slowly gaining traction over the last few months on the Ethereum blockchain. One platform that is advancing the ambitions of the DeFi movement and deserves a mention is the DeFi Money Market (DMM). It would not be an exaggeration to say that the support for the DeFi movement is currently picking up massive momentum, and its space is growing by leaps and bounds. Its performance is always transparent – predetermined smart contracts are responsible for the results. DMMS OVERVIEW CODEThe most exciting part about DeFi is that its code is “law.” There cannot be any corruption. Though not very widespread, its implementation has already garnered very encouraging results. The concept of DeFi points to the collection of blockchain-based, decentralized solutions that are taking upon the challenge of reshaping the banking and lending industries, along with other financial services. Especially now, as the world’s economy is already in shambles. It is an expression of confidence from the crypto community that the traditional centralized finance system is ultimately broken and cannot be relied upon for long. DeFi is a movement that supports the concept of open, widely accessible decentralized finance services. ![]() Then came Ethereum, which kicked open the locked doors to the old finance and banking sector, and unleashed the true potential of “Programmable Money.”Īs the blockchain technologies mature and start to prosper, crypto communities buzz with excitement for another one of blockchain’s uses – Decentralized Finance (DeFi). Although Bitcoin was the pioneer of cryptocurrencies that build a legacy of its own and launched the whole blockchain industry, it was very limited in its application and practical implementation. The world of cryptocurrencies is expanding rapidly.Īmidst the ever-increasing popularity and growth of the crypto-universe, many other alternatives to Bitcoin have managed to capture their own market. ![]()
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