In 2020, decentralized finance began to flourish. From the US$700 million locked in DeFi smart contracts at the beginning of the year, to the current US$20 billion, DeFi has developed into a driving force in the blockchain industry.
DeFi, which is decentralized finance, can also be called distributed finance. Decentralized projects originated in 2017, but the term DeFi actually didn't gradually become popular until the end of 2018. DeFi has been growing slowly from 2017 to 2019. It wasn't until February 2020, before the global epidemic broke out, that DeFi TVL rose to $1 billion.
But in the next few short months, DeFi experienced huge ups and downs. The bubble has brought a lot of noise, but it has also led DeFi to a more stable development path.
Behind the skyrocketing DeFi
The DeFi outbreak began in mid-June. A core DeFi protocol initiated by Compound, marked by the opening of liquidity mining, took only two and a half months. According to conservative statistics, the total value of DeFi's lock-up at least soared. Even some more radical statistics believe that the total lock-up value of DeFi at the beginning of September has reached 12 billion US dollars.
Data from Google search shows that in April and September this year, people's interest in DeFi also reached its peak. Among all DeFi-related activities, two aspects have attracted people's attention, namely liquidity mining and the hype of governance tokens.
The explosion of DeFi sector projects quickly led to a wave of currency issuance of projects in the entire circle. The price increase of hundreds of times and thousands of times has attracted the pursuit of investment by many big names in the currency circle. Both new and old leeks have entered the market to participate. The first person who entered the market may have a belief in decentralized finance, but the subsequent madness is just speculation. Amidst the opportunities and chaos, many people became rich, but the bubble created by speculation quickly burst.
DeFi, which is considered to be the rescue of the white horse, after running blindfolded for more than two months, the market plummeted and Sushiswap split... The hot speculative world gradually turned cooler. But is the DeFi market really cool? In fact, it is not. After skimming the bubble, more projects and participants can calm down and think about future industry trends.
For example, the gas fee of DeFi liquid mining, network congestion, and novice operation problems all need to be solved urgently. This requires us to find a new balance of DeFi mining, so DeFi mining service providers are an inevitable important group. Projects that provide services or platforms for DeFi mining will vigorously develop.
BitMax is the first batch of trading platforms that serve DeFi mining. In response to the many problems of DeFi mining, BitMax has established a more convenient and efficient mining system, which has solved the pain points of Ethereum mining.
The current DeFi applications are mainly built on Ethereum, facing a series of pain points such as cumbersome operation, network congestion, and high gas costs. In fact, most users have been blocked from the door and reduced to a few "scientists" games, which not only restricts DeFi's effectiveness also deviates from the original intention of DeFi.
1. "One-click DeFi mining" is simple, smooth and easy to operate:
DeFi mining requires frequent interaction with smart contracts, and requires users to have programming and blockchain-related knowledge in order to discover opportunities for substantial revenue. DeFi mining is a very tedious and technically challenging task. It is difficult for ordinary retail investors or new users to learn quickly. However, under the huge profits of the DeFi market, many retail investors and new users will go to the secondary market for DeFi transactions, which naturally becomes The next Panxia.
The BitMax team is responsible for all DeFi protocol back-end integration work. Users can mine with one click, saving worry and effort. Users log on to the Bit Max trading platform and enter the DeFi mining page. After selecting the item to recharge, they can "one-click mining". You don't need to buy mining coins or other risky coins, just use a single stable coin to mine. There is no need for too many complicated operations, and smooth product operations can enable cryptocurrency investors including novices, seniors, and professionals to use them efficiently and without barriers.
2. Timely settlement, deposit and withdrawal, no network congestion:
Since most DeFi projects are running on Ethereum, the congestion of Ethereum is even worse than the IC0 bubble. If the Ethereum network is compared to a road, then the Ethereum network is probably like the Beijing Third Ring Road at the peak of the weekday evening, which is already congested. Network congestion leads to slow transfers, high handling fees, and extremely poor user experience.
In addition, BitMax's DeFi mining is settled in a timely manner, with deposit and withdrawal. Unlike other platforms that usually require a fixed lock-up period, and only distribute the mining revenue after the lock-up period ends, BitMax allows users to store and withdraw their assets at any time, and receive mining rewards in time.
3. Free Gas fee to maximize revenue:
Participating in DeFi mining, you need to pay a handling fee at the beginning of the project, in exchange for free governance tokens, and sell them in the secondary market, that is, "dig-up-sell". Due to the congestion of the Ethernet network, the handling fee is high. The handling fee is unbearable for retail investors.
In other words, if users want to initiate a transfer on the Ethereum network, they have to pay an average of more than 50 yuan per transaction fee. If the user wants to complete a transaction within one minute, the Gas handling fee may cost US$20. "The handling fee was called three or four times, and it cost nearly 500 dollars back and forth." An investor complained that large investors and scientists occupied the DeFi highlands, while retail investors became cannon fodder under huge profits.
It can solve the problem of retail mining and minimize the handling fee, which may become an urgent problem for DeFi mining. BitMax's DeFi mining strives for the greatest benefit for retail investors-free of gas fees. Come to BitMax for mining, you don't need to bear the gas fee, and you can maximize your income.
In summary, the advantages of BitMaxDeFi mining are: 1 key easy DeFi mining; 0 GAS fee; 0 fixed fund lock-up period.
Currently, BitMax's DeFi mining has launched multiple projects, with a maximum annualization rate of over 50%. BitMax will continue to list more and more high-quality DeFi mining projects to bring users a more extreme experience. Everyone can mine on BitMax!