NEW YORK, NY, May 26, 2022 (GLOBE NEWSWIRE) — Decentralized finance (DeFi), also known as open finance innovation, was a turning point in financial history. It gained prominence in the summer of 2020 with the emergence of tokens like Compound and Sushiswap promising significant payouts for crypto traders.
According to DeFi Pulse, the total value locked in DeFi protocols has increased tenfold since May 2020, standing at a whopping $78 billion. This is the current value of all cryptocurrency deposits used for lending, staking, liquidity pools, and other purposes.
According to Dune Analytics, DeFi applications are used by over 4 million unique addresses (proxies for users), a 40x increase over the past two years.
Ethereum is the foundational blockchain for DeFi applications and the second largest cryptocurrency by market cap ($345 billion), processing over $11.6 trillion in transaction volume in 2021, surpassing Visa (the second largest payment processing company). . This is an emerging alternative financial infrastructure that challenges traditional finance.
Introducing Formo Holdings, the global leader in DeFi investment solutions. Founded in Cyprus in 2015 with a capital injection of US$20 million, Formo Holdings started out as a leading data analytics and trading company. Formo Holdings implements non-stop data analysis 24 hours a day, 7 days a week and accurately calculates arbitrage opportunities across industries.
With the advent of cryptocurrencies in 2019, Formo Holdings officially entered the world of cryptocurrency investments and made strategic agreements with major technology companies around the world to exchange arbitrage analysis data and conduct research and development in blockchain intelligence systems.
Compared to CeFi, Formo Holdings’ unique DeFi investment strategy offers innovations in terms of efficiency, access and transparency. Unlike traditional banks and CeFi platforms, DeFi allows anyone to become a borrower or lender without disclosing personal information, proving their identity, or going through KYC (Know Your Customer) requirements. Borrowers and lenders are also under no obligation to relinquish custody of funds (meaning the user has access to their funds at all times). To do this, smart contracts on open-source blockchains, primarily Ethereum, are used. Borrowers will borrow from a credit log that lenders can fund. Lenders can repay pledged assets at any time, and borrowers can repay all or part of their debt at any time.
Formo Holdings will be a high-performing financial services company that brings financial success to its clients, businesses and not-for-profit clients in the markets we serve, with a mission to positively impact lives by helping people achieve their ambitions. Thus, in 2022, Formo Holdings joins the Asia-Pacific market with a DeFi swap model, integrating Binance Coin (BNB) as collateral assets into these platforms, after various collaborations with leading global DeFi lending and lending platforms.
DeFi has the potential to disrupt every financial transaction, from derivatives ($1 trillion) to the stock market ($90 trillion) to insurance ($6 trillion). And that is just the beginning.
This is not investment advice. Please do your own research when investing in a project.
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