$850 million locked in DeFi lending

Lending on the DeFi platforms differs from traditional lending since there’s an open, transparent source code. Right now, lending is a leading use case of the DeFi, and the total value of it comes up to $850 million. On top of that, more than 76% are Ethereum-based.

Let’s define the main benefits of the DeFi for the users and the crypto industry.

For the users:

- one can receive services without any intermediaries and other conventional financial institutions;

- you can get services even where they might be unavailable;

- almost everyone can introduce their own assets to the market;

- almost instant payment processing;

- commissions are either lower or absent;

- profitable interest rates;

- alternative earning opportunities.

For the crypto industry:

- tokens now have a new application, this increases their value for their holders;

- DeFi platforms make interaction between users more simple and erase technical barriers;

- alternative opportunity to receive profitable loans.