How Spherium Finance is Making DeFi Prospects Bigger in 2021
Decentralized finance has grown to become a valuable asset among investors in the crypto and blockchain space. 2020 was impressive as recent data released by top accounting KPMG shows investment in crypto-based assets doubled.
Though DeFi is still in its early stages, the wide adoption, associated projects, and passive income have made it lucrative. DeFi dominated the blockchain ecosystem in 2020, a development that saw several tokens worth over $60 billion locked up in this space.
There is only a little limit to what DeFi can do. From staking tokens, accessing loans, borrowers and lenders coming together, to leveraging smart contracts, DeFi has addressed the pain points of investors in many ways.
There were many successful DeFi projects in 2020 and many are expected to spring up before this year ends.
Spherium Finance is a decentralized cross-chain platform that optimises return on crypto-assets while minimising risks. The platform offers speedy transactions and ample security from front-running or flash loans.
As a platform for everything DeFi, Spherium Finance runs on Binance Smart Chain, Ethereum Blockchain, and the Polygon Network (upcoming releases), allowing crypto lovers to conveniently stake, swap, lend and borrow tokens.
How Spherium is Making DeFi Bigger in 2021
We’re seeing Decentralized finance quickly maturing from what it used to be when the term started making waves in 2018. With all of these innovations coming to DeFi, massive opportunities exist for Spherium Finance users.
Here are some of the ways Spherium Finance will make DeFi bigger:
- Bringing more assets to Spherium
In the last few months, we went through a rigorous process of planning the Spherium token (SPHRI) generation event, taking into consideration legal, security, compliance and risk aspects. With the SPHRI tokens getting listed on several platforms soon, Spherium users will have the opportunity to make decisions while adjusting risks.
- One wallet, multiple chains
The Spherium cross-chain wallet will let our users have access to all our services at all times while also connecting to any DeFi platform through the WalletConnect protocol. With payment gateways and crypto-to-fiat payment facilities integrated into the Spherium wallet, our users will be exposed to a world of possibilities with DeFi.
This simply means making all your digital assets work from your pocket.
- Modern solutions for borrowing and lending assets
HyperLend — our decentralized pool-based lending protocol developed on the Ethereum blockchain — will facilitate seamless borrowing and lending of crypto-based assets.
The HyperLend money market is a pool of selected assets that algorithmically derive interest rates based on demand and supply for the asset. With this protocol, lenders and borrowers will interact with the protocol directly to earn and pay respectively.
When lenders deposit assets into the protocol, the assets are transferred to the smart contracts where the total liquidity of each asset is aggregated into a pooled fund which will be available for borrowing.
- DeFi is global, and we aim to be too
Spherium Finance is aiming to go global and striving to see our products cater for users outside Asia, America and Europe. This will increase the number of people who have access to our products and further our mission of promoting financial freedom globally.
- Spherium Finance’s liquidity solution with DAO’s maker integration will keep traders motivated to stake their tokens and also earn rewards.
- Despite the advancement of DeFi, investors and traders find it difficult to trade DeFi tokens due to the complex navigation process. However, Spherium Finance is fixing this with the Swap 2.0 protocol.
About Spherium Finance
To learn more about Spherium Finance, visit spherium.finance
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