About 123 Swap
The 123 swap platform is a decentralized financial ecosystem that allows the fluid trading of crypto assets across currencies.
You can check it out more on https://123swap.finance/
Following platforms offers a variety of multi-chain DeFi solutions on blockchain assets, including:
- Yield Farming
- NFT Minting
DeFi MARKET ANALYSIS
The rise of DeFi in 2020 grabbed the crypto world by storm. In the DeFI world, the first quarter of 2021 was a busy period. From Jan 1st through March’s end, ‘Total Value Locked,’ or the amount of capital locked in DeFi protocols, increased from $16 billion to more than $49 billion. One of the primary reasons for the DeFi market’s attraction is the increased openness and trust that massive institutions have contributed to its transformation into a crowdfunding platform – a more mature development of initial coin offerings (ICOs).
Simultaneously, many DeFi assets have continued to outperform. According to Messari data, at least 74 DeFi assets have gained in value by more than 100% since the start of the year. Seven of these assets have grown in value by more than a thousand percent.
Record sums have been flooding into DeFi protocols for over a year as investors seek the high profits offered by lending, borrowing, decentralized trading, and synthetics protocols. By making loans more flexible, DeFi’s unsecured lending has helped popularise the sector. One of the primary purposes of DeFi was to simplify relationships between credit institutions and borrowers, as is well known.
Finally, the next stage of DeFi should make the sector more accessible to regular consumers while also increasing confidence through improved protocol and product transparency that highlights hazards to its customers. In the short run, policymakers and regulators will be eager to “see-through” DeFi protocols and goods to ensure no excessive harm, particularly retail consumers.
Developing Movements in 2021
The DeFi industry is expanding with no indications of slowing, and the following events are expected to shape 2021:
AMM-based DEXs are prominent. Instead of traditional order books, Automated Market Makers (AMMs) present an entirely new concept for decentralized exchanges (DEXes), employing liquidity pools and prices established by an algorithm based on supply and demand. Users effectively trade with an intelligent contract-based liquidity pool rather than with other users.
NFTs.Non-fungible tokens are indivisible blockchain tokens that represent a one-of-a-kind physical or digital asset. They’re swiftly gaining popularity as a means of proving the validity and ownership of digital art, collectibles, in-game goods, and even virtual property parcels.
Cross-chain Technology. One of the issues linked with the DeFi ecosystem’s fast expansion is the rise in transaction costs. Aside from growing transaction prices, the increased number of new users utilizing DeFi apps on the Ethereum blockchain has slowed the whole network. To overcome this issue, numerous crypto projects are beginning to offer the cross-chain capability.
Essentially, cross-chain technology enables transactions and smart contracts to go from one chain to the next. It is envisaged that this compatibility would enable DeFi platforms to expand much more quickly than they now can on the Ethereum network alone.
Tokens of Governance. These tokens are not the same as traditional cryptocurrencies. Their overarching goal is to provide token holders voting power over an underlying DeFi technology. Token holders vote on proposals, and their tokens’ value improves as the DeFi protocol obtains more users or increases its TVL.
And, if the price is any guide, governance tokens will be highly popular in 2021.
The cumulative market cap for some of the largest DeFi platforms’ governance tokens (such as Curve Finance, Uniswap, Compound, and Yearn Finance) has surpassed $50 billion. Traditional financial institutions are also becoming aware of the need to own governance tokens.
- Website — 123 swap Website
- Twitter — https://twitter.com/123swapfinance
- Telegram — https://t.me/my123swap_chat
- Reddit — https://www.reddit.com/r/123swap/
- Discord — https://discord.gg/arNbvrPgZx