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DeFi stands for decentralized finance, which is an umbrella term for digital assets and financial smart contracts, protocols, and decentralized applications. It may rightfully be defined as the movement that promotes the use of decentralized networks and open source software to create multiple types of financial services.
According to Forbes, DeFi has become a global alternative to traditional finance in the blink of an eye and currently is reimagining the way we do finance."
Let's hop on the DeFi wave. One thing I love about this new trend is that it's like ICO's have grown up and have become more responsible. Let alone, the community hypes up other businesses and brings more attention here than BTC itself, which is great. BTC always comes up in conversation when we talk about new things like DeFi.
I have my own personal list of DeFi businesses I follow, like
Rio and
Mantra. However, there are some existing businesses incorporating the similar model like
Compound and
AAVE. It's a given these existing businesses jump into DeFi because a key rule in business is to align their models with current trends to attract users and investors to the project. It's really surprising to see a lot of businesses receive funding during a recession, but hey, it goes back to what I mentioned about
The Great Reset. It's a new time to shine and we should ride this wave for as long as it lasts, as we did in 2017-2018.
What DeFi projects are you looking into?
Aside from media giants like CT and CD, I've been searching for the underdogs in the media space. Some have more
unique articles than most media hubs these days, which is so important. Information is DIRE during these times and we must pick and choose who we follow and why when investing, researching, and collaborating.
Inspiration:
https://cryptojournal.us/en/blog/top-10-defi-projects-to-watch-in-2020