It’s fair to say that cryptocurrency violated the mainstream. Crypto conversations can be heard in most offices, pubs and schools in developed countries, from the US to India, Turkey and Nigeria. Bitcoin (BTC) and Ethereum (ETH) tycoons dominate the crypto space, far surpassing the rest when it comes to market capitalization. Bitcoin is the standard rep, and BTC’s relative health reflects crypto health more generally.
The new wave of cryptocurrency includes many distributed finance (DEFI) protocols, and many experts believe Defi will play a major role in the future of digital currency. Some Defi Coins, such as Terra (Luna) and Avalanche (Avax), have already been successful. Seesaw Protocol (SSW), a new candidate for Defi Crown, has been released this year.
What is defi?
Decentralized finance, known as Defi, is a technology based on a secure distributed ledger. This is a term that includes a wide range of things, including many financial services on the blockchain. The purpose of Defi is essentially defined by its name. It seeks to eliminate the power and control that banks and other financial institutions have in the world, and ultimately in the power and control that the world has.
Defi users can perform almost all of the same services offered by current banks. Transactions, lending, borrowing, purchasing insurance, earning interest. However, Defi does not require the same monitoring as banks. Defi is peer-to-peer and open to anyone with internet access, so there is no long documents or third party approval.
Terra (Luna)
According to its white paper, Terra is a blockchain protocol that combines the stability and wide range of uses of Fiat currency with the speed and availability of cryptocurrencies. Luna uses stable coins tied to existing Fiat to promote the financial system. The advantages of this are security and stability, which still removes control from the financial giant. Luna resisted the price crash that plagued the code towards the end of last year, and in fact rose to an all-time high on December 27, 2021. It is currently listed for $79.87.
Avalanche (avax)
Avalanche serves as the foundation for new distributed applications, whose creators claim it is the fastest smart contract platform in the blockchain industry, with the final time being taken by just one second. It has the advantage of being low cost and environmentally friendly, and comes with speed. They also hope to become one of the safest blockchains, while not sacrificing scalability. As of January 14th, the price of Avax is $90.51.
Can the SeeSaw protocol follow the success of Defi Giants?
Analysts believe competitors such as Luna and Avax can further reduce the dominance of the Defi market that ETH currently enjoys. Which assets have appeared in the top tier of market capitalization rankings. Terra ranks 9th, with Avalanche ranked 12th at the time of writing.
The SEESAW protocol is scheduled to be released in early 2022 and will be available for a long pre-sale of eight weeks starting in January. It was released when the Defi protocol rose to record levels and reached an all-time high of $236 billion (TVL) in October 2021. Smart chain. This allows users to perform cross-chain transactions, and in doing so, they can find the fastest speed and lowest rates. In addition to this, there are already positive indications for potential investors. The SEESAW protocol pairs 3% buy and 5% sell commissions distributed to existing owners with BNB, adding them as a liquidity pair for PancakesWap, providing stability. As proven by Avalanche (Avax), entering a cryptocurrency project early often results in high yields for investors.
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