Blog Post

Promising DeFi Projects to Keep Tabs on in 2021

Wayne Jones • March 20, 2021

Decentralized Finance, better known as  DeFi is an ever-evolving space in the crypto world that has become a force to reckon with. Having had a somewhat slow start when launched in May 2018, 2020 was its best year so far, having experienced a more than 10-fold growth. Various projects launched in the past couldn't shape up the entire blockchain and crypto ecosystem.


This article's interest lies in Defi projects that have recently been launched; so let's take a look at some of the most promising ones.


About DeFi

DeFi is an open-source financial ecosystem that operates in a transparent manner. It enables transactions to occur without a central authority or other third-party intermediaries. 


To do so, it enables self-deploying contracts as per agreed terms and conditions that are code written called Smart Contracts. The most notable DeFi projects launched in 2021 include;


Flare Network

The Flare Network promises to offer a profound revolution in the blockchain space. A linking project by XRP's Ripple blockchain, Flare is a decentralized network that connects the blockchain with smart contracts. 


Its key purpose is bridging different blockchain ecosystems. That creates the possibility of onboarding smart contracts onto blockchains not originally meant to support them.


This DeFi project hints at the possibility of solving the key scalability problems that afflict the entire cryptocurrency world today. That makes it a top project to keep track of.


GraphLinq

Aiming to reduce the technical requirement of coding, the Graphlinq project aims to enable newbie crypto investors to draw graphs easily. They won't need any expertise in coding, instead of using a set of tools that simultaneously run on multiple blockchains. The tools will now have a centralized data stream that provides service automation in such a way that won't require any coding skills.


The project's native token, GLQ, runs graphs on the main net or the platform's test net, with task automation and process execution being the end result. The project makes the experience of beginner users with little/no coding knowledge much simpler, making it worth your attention.


Radix

Another project that could offer far-reaching improvements to the blockchain system, Radix is the first layer one protocol tailored for the Defi space. The protocol project does so by providing scalability solutions that afflict certain blockchains such as Ethereum.


Radix fixes scalability by offering visa-like system speeds through linear scalability. It does so without either friction or breaking composability on protocols, giving It an edge over the competition.


To highlight the project's potential success, a previous consensus algorithm by Radix proved the current algorithm limit, a 1.4 million TPS speed to be infinitely scalable. Radix also happens to be the only solution to a shared platform atomic compatibility.


It may just have the only solution to blockchain scalability issues on offer. The project's unique ecosystem is worth looking into.


DAOVentures

While DeFi has certainly revolutionized the entire blockchain space, it has faltered in one crucial thing, enabling familiarization of DeFi to new users. DAOVenture aims to do just that. It intends to educate as well as onboard new DeFi users.


The current status quo involves the bombarding of any users with a rapid information flow. Such a scenario poses a confusing learning environment full of complicated situations and curves.


By use of an automated money manager and a Robo advisor, DAOVentures offers to innovatively simplify DeFi investments. It offers self-custody using smart contracts to ensure users retain control of their funds. 

It also provides a robust set of tools to DeFi subscribers. The said tools analyse, track, and make actual investments securely. DAO truly poses an exciting project to follow up on.


Exeedme

Exeedme is a gaming-oriented DeFi project that onboards Non-fungible tokens (NFTs) and DeFi onto the gaming world. It enables the monetization of one's gameplay regardless of the gamer's skill level.

Gamers on the platform get to earn via winning matchmaking scenes, having an involved audience, or staking the project's $XED native token. Its launch on polka starter quickly garnered a massive following from the global gaming world, earmarking the industry's interest in the project.


Bringing NFTs and DeFi onto the gaming world in an easy-to-use platform has been a hard nut to crack, Exeedme being the first to effectively do so. The project adds the ability to seamlessly utilize DeFi in the gaming world, making it a must-watch.


Finxflo

An innovation compatible with both DeFi and Centralized Finance (CeFi) systems, Finxflo is a multi-exchange crypto trading platform. It stands as the first regulated hybrid aggregator of liquidity, providing a liquidity pool for trade executors in more than 25 DeFi and CeFi systems.


The platform removes the need for operating multiple accounts while charging no withdrawal fees. It also offers a space with heavily reduced incidences of spillage and a better security feature, with users being shielded from front running.


Finxflo's FXF token is a blockchain 3.0 asset that can be mined, staked and offers protocol governance, voting rights and limitless liquidity access to its users. An added feature includes the elimination of interoperability across chains in blockchain systems such as Tron and Ethereum. It is a very promising project.


PancakeSwap

A new Automated Market Maker (AMM), PancakeSwap is a decentralized exchange that has no requirement for KYC (Know your client). A project of the Binance Smart Chain, the exchange contains an initial farm offering. It supports staking as well as yield farming with the help of two built-in tools, facilitating the earning of cake and staking the cake to earn more tokens. 


PancakeSwap also contains an auction market for NFTs and provides for the acquiring of lottery tickets. It does all these while providing a reprieve from the mounting gas fee in the ethereum blockchain.

This registration fee exchange is an exciting DeFi project to follow, offering good alternatives to the older and larger crypto exchanges. 


Take Away

The DeFi space has set itself up as one of the most crucial spaces in the crypto world. New innovative projects keep on getting launched, revolutionizing the cryptosphere.


As such, keeping tabs on the latest DeFi projects goes a long way. DeFi platforms such as Radix, Graphlinq, pancakeSwap and DAO are looking into making the DeFi space and blockchain world a more efficient, fast, and usable space. Others like Flare Network, Exceedme, and Finxflo bring on a wider reach to ecosystems previously inaccessible to DeFi, thus onboarding new users. The above mentioned DeFi projects seek to provide solutions to existing challenges or bring in new advancements. Whatever angle they pursue, they are definitely worth your attention.

Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. None of the content on Crypto Folds is investment advice nor is it a replacement for advice from a certified financial planner. Please do your own research before purchasing or investing into any cryptocurrency.  

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