However, it has only been since 2017 that this philosophy materialised itself in the form of tangible initiatives that have aimed to expand the scope of DeFi.
As such, a number of DeFi-focused projects grew over the last few years, focusing on different areas of finance such as payments, money transfers, brokerages, lending and borrowing, insurance, and so on…
Following are three DeFi projects currently trading at attractive prices. While you may already know about Uniswap (UNI), you might be unaware of the other two – one of which is currently in presale!
Uniswap (UNI)
For those already familiar with DeFi, there is a good chance that you have already heard about Uniswap (UNI), as it is one of the largest decentralised protocols in the market, with over $7 billion in total value locked (TVL) within its ecosystem.
As a liquidity protocol and decentralised exchange (DEX), the role of Uniswap consists of providing sufficient liquidity in order for investors to trade smoothly. This is particularly essential as DeFi remains an emerging field which can sometimes have shortages in liquidity.
Additionally, Uniswap allows investors to exchange (or swap) small-cap tokens which cannot be found on large exchanges, at an almost instant speed and for minimal costs.
Uniswap was initially deployed on Ethereum (ETH), but has now evolved into a multichain protocol, having deployed on Polygon (MATIC) last December. This decision was motivated by the Ethereum network’s increasing latency and transaction costs due to the high number of users. Conversely, the Layer 2 blockchain, Polygon offers ultrarapid transactions at negligible cost.
Uniswap’s arrival on Polygon was met with enthusiastic reactions from the crypto community, putting it well on track to challenge Polygon’s leading DEXs currently, QuickSwap (QUICK) and SushiSwap (SUSHI).
Despite these really promising prospects,…
