The blockchain is the biggest breakthrough after the internet. And sitting on top of that are cryptocurrencies and various blockchain applications, which we find DeFi (Decentralized Finance) applications. In this regard, let's get you informed about a few top best DeFi projects this 2020. You never can tell you might be interested in a few.
What is DeFi?
Wait, first things first. For the sake of those who are new to these terms; the blockchain, DeFi, etc. We already mentioned it earlier, DeFi is a short form of Decentralized Finance. What this means is you get to carry out financial transactions without any human/third party interference. In street lingo, it is what it is, no story. Because the process carried out by humans in the real world is done using simple commands via the blockchain. It responds to simple instructions, as long as you meet specific requirements, you get the reward. No story.
Scared you might lose your money? Not at all, you shouldn't be. Your money is in safe hands; in fact, it's in your possession most times while you still enjoy certain rewards. And if you are using a reputable DeFi project like the ones we'll suggest, you can always checkup their codes; it's a transparent deal. And any project trying to cover its operation (its codes) is shady, probably a Ponzi scheme. We'd advise you to take a walk from those.
Now that we are clear on the term and whatnot, here are the top best DeFi projects of 2020.
Top Best DeFi Projects This 2020
#1. Atomic Loans
Need some funding for a project? Why not get some funding without touching your bitcoins. Of course, the standard procedure would be to sell off some of your crypto/bitcoin holdings to achieve your plan. But with Atomic Loans, you do not need to do that. Your bitcoin remains in your possession while you get funding of up to three times your collateral. And these can be done in three easy steps; ser your loan terms, lock your bitcoin collateral using a script escrow, withdraw your stablecoins. It's that simple.
#2. Request Network
When we talk about finance, we talk about money. Whether its getting loans, making investments, or simply trying to get payments, various DeFi projects got you covered. Request Network is one of such. It helps you create your crypto invoices in a few easy steps and ensures you get paid while providing full control over your financial details. However, this project is yet to kickstart. You can follow up on its progress here.
Heard about prediction markets? Probably not. Let's brief you quickly. Augur is your global, no-limit betting platform. You can bet on any world event; sports, economics, government, world events, anything. You get paid instantly; immediately the result is out. You don't need to get across to any customer support agent, explaining your winnings. Everything is done on autopilot. Ethereum powers it, and no one, not even Augur, can interfere with this platform.
#4. Chorus One
Stake your crypto assets, get a reward for it. It's that simple. The same way you put those unused monies in a saving account and get some "interests" at specific periods. But here's the deal-breaker, there's no period you cant earn with staking. And then, the rewards are way better than having your cash starched away in a savings account. One way to go about this, using Chorus One. Chorus One already has the infrastructure to help you secure and increase your crypto holdings. At the time of writing, over $78 million is staked on the platform.
According to Defi Pulse, there are over a hundred DeFi projects already in operation. You can check them out, click here.
We just introduced you to a selected few. We believe that will kickstart your journey into the DeFi world.