On 23rd August 2020, the Defi leaderboard platform named Defipulse has seen an impressive record of $6.75B of ETH locked in the on-going Defi project. This is an all-time high recorded by Defipulse, and many doubt it is already at its ATH peak, however, in comparison to the total centralized cryptos market cap of nearly $400B, this number is partially insignificant.
In terms of the decentralization, transparency, and financial future growth, Defi shows a better potential in comparison to centralized financial projects. Because of that, lately, Defi has been rising rapidly and become a real promising scenario of the blockchain field in the upcoming time.
Due to the COVID pandemic, the whole world economy has seen a massive number of centralized interferes with the financial business. For example, on 10th June 2020, the Federal Reserve official held rates to zero in the USA, after that we have seen a financial “exodus” of bankers and savers from the centralized financial systems to a better one like Real Estate, logistic or decentralized projects.
This is why Defi has its own advantage and attraction over the centralized financial institution, meanwhile, the centralized institutions require a lot of physical infrastructure and human works. By contrast, Defi shows better global accessibility and scalability, all the infrastructure and procedures are on a smart contract. Defi is worldwide-used and transacted freely at people’s fingertips, no borders.
For projects such as Aave, Compound, or even Makerdao, who offers lending and borrowing service, people can instantly lend or borrow with the collateralization. Paradefi is a lending and future derivative Defi platform which offers people access to lending and borrowing service based on the Ethereum smart contract.
Paradefi is also the first Defi platform having both fiat on-ramp and off-ramp integration to over 46 currencies worldwide, and more currencies will be adopted to the platform.
Moreover, Paradefi offers convenient loan facilities, curve platform, portfolio management dashboard, and governance testnet on Ropsten, al the hard works have been done even before the initial decentralized offerings.
Paradefi dApp is fully-equipped with all the necessary decentralized features on a user-friendly interface. In terms of real-data management, Paradefi is also one of the rare projects integrating with Chainlink’s Oracles Solution to bring the real-data into the Paradefi ecosystem. Last but not least, the Paradefi team is also proud to be the first Defi having an incentive teller program in which encourages people to spread the network worldwide and gain mass adoption to the platform.
“In Paradefi Ecosystem, every citizen is a digital bank teller, by scaling the platform, people can be benefited greatly from that, this is how our outstanding platform performs”, said by Carlson.