The motive of 123swap, decentralized finance (DeFI) ecosystem, is to help people do the cryptocurrency exchange system at ease and generate the lowest possible slippage. With 123swap, a range of DeFi solutions across multiple chains in blockchain assets is available.
123swap’s DeFi platform includes:
- Yield farming
- NFT minting
Before discussing DeFi market analysis, we would like you to have a clear understanding of what DeFi is.
As you may guess, Defi is short for Decentralized finance when it comes to a broad term for various applications and projects operational in the public blockchain domain; this is what DeFI is all about.
By now, I believe you have a considerable amount of knowledge regarding Defi; let’s shed some light on DeFi Market analysis. In 2021, the DeFi got the crypto market by storm, so let’s see how it did that?
DeFi Market Analysis
In the last year, the growth of DeFi took the crypto world by storm. In 2021, the first quarter of that year was an eventful period for the DeFI world.
During the period of 1st to the end of March, the ‘Total Value Locked’ (TVL). In short, TVL is the stored amount of the capital in DeFi protocols.
The reason behind DeFi growth
The main reason that was the cause of DeFi growth was its highest transparency and trustworthiness for its customers, such that large institutions have contributed to turning it into a crowdfunding platform, which is a more mature evolution of initial coin offerings (ICOs).
And also, the other reason was that when DeFi received contributions from large institutions, DeFi assets continued to perform incredibly well!
Moreover, according to Messari, at least 74 DeFi assets have increased their value by more than 100% since the beginning of the year; with that happening, there were 7 of its assets that have increased DeFi value by more than 100% Most investors chased the generous returns afforded by decentralized trading and synthetics protocols as records sums have been pouring into DeFi protocols for over a year.
DeFi, since the very beginning, always thought of its user first and cause of the nature of DeFi; it should make the industry more accessible to everyday users while building even greater trust through better protocol and product transparency that identifies risks to it users. With that much concern about its users, it would encourage policymakers and regulators to have a keen look through DeFi protocols and products to ensure no undue harm is presented, particularly to retail customers.
DeFi is going to be unstoppable!
In 2021, DeFi is not reluctant to give us the following developments as the rightful moments for 2021 and onwards. With DeFi, we will be experiencing a substantial developmental era. The 123swap cross-chain value exchange mechanism allows platform users to trade directly with one another across any chain on a peer-to-peer basis. In 123swap, our goal is to simplify the management of crypto-assets.
Our motive is:
- To build the next-gen financial ecosystem, leveraging blockchain technology.
- To increase the usage of cryptocurrencies in the corporate sphere for purchases and payments.
- To break down financial boundaries, advance the global economy, and make the world a better place.
- To provide a seamless user experience by allowing users to access the whole crypto market in one location while never compromising the security of their private keys.