Decentralized Finance (DeFi)

Introduction:

Since 2017, the cryptocurrency market has been evolving and building upon itself. From ICOs, to DAOs, and now DeFi.

DeFi, short for Decentralized Finance, utilizes open-source software and decentralized networks to apply trustless and transparent protocols to traditional financial products, automating them without unnecessary intermediaries. This would allow for anyone with internet access global, open alternatives to every financial service available today, from savings, loans, trading, insurance, and etc.

As of now, DeFi is one of the fastest-growing sectors in crypto; the growth of which is measured with a new metric, “ETH locked in DeFi”.

Source: (https://defipulse.com/)

Announcement:

Starting next week, SynQ will be posting daily blogs, highlighting one particular DeFi project per day, summarizing it’s fundamentals and past 7d performance.

Weekly highlights will now go live on Fridays, and will also include the DeFi projects of the week.