The emergence of DeFi
Ever since the first idea about Decentralized Finance appeared on the paper, the term DeFi has been deemed the crucial key that can break the reign of centralization in the financial world. Got caught off-guard, these traditional centralized institutes such as central banks, retails, investment companies, brokerage firms, loans associations, etc found themselves surrounded and threatened by a financial revolution sparked by DeFi worshipers. Realized it was too late to put out the fire, more and more Financial Institutes are switching to decentralization by integrating DeFi into their operating model to avoid being engulfed by such a wildfire of changes. It is not exaggerating to say the appearance of DeFi acts as a sword that stabs into the hearts of these traditional centralized institutes. And it is safe to say DeFi only became possible with the technology of Blockchain, and vice versa, the power of Blockchain got enhanced by DeFi.
DeFi’s role in global economy
Everything is going down the digital route in the current period, and that is no different for the financial sector either. For this, the term that is indeed rising in popularity is DeFi or Decentralized Finance. While the traditional finance methods are still prevalent, cryptocurrencies are undoubtedly taking over. Indeed, most of the companies currently rely on Blockchain technology. And that has resulted in the decentralization of many businesses, the economy, and global trade. In fact, a lot of people in the financial sector rely on Bitcoin and other cryptocurrencies. They have a high uptrend in the stock market, like Bitcoin’s ATH, which crossed USD 24,000 in December 2020.
Another reason why many companies have gone the DeFi route is the full autonomy they can experience. One such example is the P2P decentralized applications like Dapps that are available globally. It operates on the Ethereum blockchain, and it is customizable. In fact, they can create Smart Contracts using it, which is very usable. Platforms like the PiSwap DeFi are an excellent example of very usable technology, and they value the NFT trend.
PiSwap DeFi- how it helps
PiSwap DeFi is the newest generation full-stack platform that runs on the Ethereum blockchain, and it has many useful features. Some of them are precious DeFi innovations, including Dapps developing, community governing or DAO, yield farming, and many other applications and services including NFT/Gaming.
PiSwap Products
Moreover, this new generation DeFi platform has many key products that users can utilize. For example, Phase 0’s Yield Farming and Phase 1’s NFT/gaming are in progress. And it is about to launch more products like the Phase 0’s Swapper, too. Overall, this platform’s team focuses on making the DeFi experience secure, quick, and easy for the users.
One product that is definitely worth mentioning when speaking of PiSwap’s DeFi structure is the yield farming. To specify, this is also called liquidity mining, where the platform holds cryptocurrencies to gives rewards. Of course, the liquidity providers need to put in liquidity to the pool, which holds two ERC-20 tokens.
The providers can rely on Yield Farming because when they sell their tokens, they will get higher rewards. They can do so depending on the market rates. This is a form of extra passive income for them, depending on how much they invest. Plus, they can claim their token whenever they wish.
In PiSwap, this would work in three phases- Phases 0, 1, and 2. The first one is currently underway till mid-January 2020 at a $0.3/PIS starting price.
Achievement of PiSwap DeFi
In many ways, the platform has managed to amass recognition due to the benefits of its integrated DeFi tools. In fact, according to Coinmarketcap.com, PIS got listed as a ‘High’ status soon after its listing on Uniswap. Also, it has 3,651 holders at the time of this writing, according to Etherscan token estimation. Its ATH is around $2.82, which is 8 times higher than the listing price. Not to mention, Tool Dex gave it a rating of 99/100 due to its transparent trading actions.
Verdict
PiSwap is still in its heyday comparatively, but its DeFi structure is well-made and usable. So, good outcomes are possible, and people can utilize it for financial gain.
(Syndicated press content is neither written, edited or endorsed by ED Times)
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