Access to finance and capital is one of the most important things for personal economic growth. But the centralized financial system has made it harder for people to achieve this independence. This is why DeFi is stepping in to offer lending services. Here is why this idea is heating up:
DeFi is fully decentralized, so people can access it anywhere in the world.
DeFi also allows for peer-to-peer lending services.
There are new tools that allow lenders to manage risks effectively.
Well, if you are convinced that lending is the future of DeFi, then there are three incredible projects that you should look at. Here they are:
GoldFinch (GFI) is trying to revolutionize the way crypto-backed loans are offered through DeFi protocols. The project is basically wavering collateral requirements. This is designed to remove the barriers that have, for so long, making it harder for the average person to get crypto loans.
Data Source: Tradingview
GoldFinch is backed by major venture capital firms and has grown massively. In just under a year, active loans given moved from $250k to nearly $36 million. Over 200,000 people in 18 different countries are already benefiting from this.
Celsius (CEL) is an all-inclusive blockchain with several DeFi features. While the platform was specially designed to allow for the creation and deployment of DAPPs, it has been able to attract lending protocols as well. Users can get collateralized loans with interest rates of as low as 1%. This aspect of the Celsius ecosystem has expanded quite a lot.
Maker DAO (DAO)
Maker DAO (DAO) is also an inclusive project that has incorporated a unique DeFi protocol as well. There are several lending options there but the versatility of Maker DAO makes it a very good project for anyone looking for a safe long-term bet.
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