It is so exciting Seeing how Decentralized Finance (DeFi) fought their way to the top. Its no lie that DeFi is making headlines these days as investors and traders are now much into it.
How Did they Manage to Do So
Back in the days even up to now investors and traders are losing their hard earned money to scammers end the Centralized Finance and they have access to every penny being held in their wallets. If they decide to disappear they can just vanish with everything or if the platform is hacked then everything will be gone.
Another thing which investors did not like is letting the future of an assets they are into to be left in the hands of a few group of people, they have always wanted to be part of the future planning and making process. If a project is laid on the table and the community allowed to vote for ideas it will make it the perfect project ever.
DeFi's Started Low but are higher now
There are a lot of DeFi projects which stated low and managed to become the most invested upon and that led to the increase in their prices. I selected a few i just want us to look into:
Maker
Uniswap
Synthetix
AAVE
The above 4 has a good history, if you check where they came from you will see that they proved to be promising and now they are the household DeFi's.
MAKER was launched back in 2017 and it was trading at $24 at that time. Its low supply of 991,501.05 MKR helped a lot as there was low supply and the demand was high and the price went to the roof, it is expensive than the second largest Crypto Ethereum.
Uniswap was launched in 2018 but became popular in 2020. From trading at less than $0.5 it managed to reach an all time high of $44.97 just a moth ago.
Synthetix was launched in 2018 and its price did not move much as it was trading around $0.4 and at one time its traded at $0.03 until 2020 when it started to breath fire and boomed till it broke a record and set an all time high of $28.77. Its future is bright as is is aiming high with its protocols.
AAVE was launched in October 2020 with A supply of 16,000,000 but now they have a capitalization of $4,200,500,143. When it was launched it was trading around $54 but it surged and it is now trading at $330.62, and the Return on Investment (RIO )its 63424.31%
Conclusion
Like in today's world if you are to be an inventor and if you want your product to be successful you have to identify the problem first then you have to provide the solution so that the idea will be a success. That is what happened with DeFi's that is why their prices are always going up and they are the future.
Uniswap Maker DAO (MKR) DeFi and Decentralization
