It’s been an exciting few days for Decentralized Finance (DeFi)! Last week, a few new major developments highlighted the continuing expansion of DeFi into the crypto-space.
The first major news was Binance’s launch of its first DeFi project – Binance Smart Chain (BSC). BSC uses DeFi technologies to provide trustless, permissionless, and permissioned smart contracts. With BSC, users will be able to securely store and trade digital assets, in addition to staking and other DeFi functionalities. This is a big step forward for DeFi, as it is now more accessible to users and larger organizations.
Next, MakerDAO unveiled a new protocol called Multi-Collateral Dai, which will allow users to use Ethereum-backed tokens as collateral for loans. This will increase the number of assets users can loan against, providing flexibility and better options for liquidity. In addition, the protocol updates the existing governance structure for the MakerDAO system. This major update will bring more mainstream users to the DeFi space.
Finally, Circle, a payment company, announced a new stablecoin called USDC. The token has been created in partnership with Coinbase and is based on the Ethereum blockchain. This announcement signals the continued growth of USD-based stablecoins in the DeFi ecosystem and provides another option for users to access DeFi services.
As we can see, DeFi is maturing rapidly and is gaining more and more attention, both from the public and financial sector. By giving users more options in terms of digital asset, staking, and stablecoins, the DeFi ecosystem is becoming increasingly accessible. We can expect more exciting developments and more users in the coming months.
So if you’re excited about the upcoming events, trends and news from the world of Decentralized Finance, stay tuned and follow us for more updates!