London, UK – (Newscall PR, April 03, 2022) – The DeFi space has gained immense popularity since 2020. At the end of that year, the market size of DeFi was about $24.5 billion, and today, it has soared to about $143 billion. The emergence of DeFi 2.0 had a significant role to play in this upsurge.
DeFi 2.0 solved various challenges of DeFi 1.0, including high gas fees, network congestion, risk of zero insurance, impermanent loss, the complexity of the platforms, and more. However, now the space is rapidly evolving, and projects are set to move towards DeFi 3.0.
DeFi 3.0 is another layer on top of 2.0 which aims to enhance the existing services and elevate the value provided to users. The latest project to enter the DeFi 3.0 ecosystem is Magento Financial.
Challenges of Current DeFi Protocols
Magneto Financial identifies various limitations in current DeFi protocols and sets out to solve them. We do this by building a comprehensive ecosystem that provides better quality services and higher value to our users. A few of those challenges were as follows.
Low/Fluctuating APY
A majority of the yield farming protocols provide a low APY, which also keeps fluctuating. This means that people can never be assured of the amount of profit they will gain.
Tedious Staking Operations
For people to participate in staking operations of a network, they have to jump through multiple hoops. From buying the cryptocurrency, choosing a staking pool, staking the crypto, to constantly monitoring the pools, it becomes a cumbersome exercise.
Limited Farming Options
People are only able to participate in farming one cryptocurrency at a time. Therefore, if one wants to leverage farming opportunities in more than one cryptocurrency, they must invest in multiple crypto networks.
These are a few challenges that Magneto Financial can solve through its series of protocols.
Key Services of Magneto Financial
Magneto Financial’s robust ecosystem is designed to solve the challenges…
